More than just owning their wars; when we find out they have lied, omitted information, and committed crimes against humanity they should go to jail.
You can not have a 90% casualty rate that consists of civilians.
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Chart Porn on the Global Economy With an Amateur, But Gentlemanly, Prediction
Good info here to see the trends of the global economy.
I’m going to make a prediction. Based on this weeks documentary we have learned how the major banks have restructured all the worlds debt to be linked to currency swaps; a form of derivative.
Norway gave us a first impression of how nations and states will act going forward. That is they will protect themselves at all costs. Add to that the evidence of central banks buying up gold as an alternative to sovereign debt and you have a situation boiling slowly on the back burner.
It is my assumption that as western nations continue to see recession upon recession, that fear will grow over the purchase of sovereign debt. As fear mounts other states will take Norway’s lead and we will reach a point where nobody wants to be left holding the bag. This will cause dramatic fluctuations in currency evaluations and create another debacle with synthetic derivatives sparking the next credit freeze. Since we mange the opaque market of derivatives we will not escape systemic risk.
Full look at the global economy chart porn
Comments »Greek Elections Underway with Major Impact on Greek Membership in the Euro
Perhaps a bit early to mention anything here as polls do not close until 7pm Greece time or 12 pm EST. The outcome of this election is also very important for the EU.
Comments »Sarkozy May Win by a C’ Hair
Tracking or exit polls show Sarkozy has not much of a lead. So far he is up 4 percentage points. Stay tuned as this will have a dramatic effect on world markets.
Comments »The Recurring Nightmare on Wall Street: Greece Set for General Elections Tomorrow
The first general election since Greece’s debt crisis exploded at the end of 2009 will go a long way to dictating whether the country will stick to the terms of EU/IMF bailouts which saved it from bankruptcy but propelled it into a deep recession.
At stake is whether the country that drew the decade-old euro zone into the worst crisis since its creation could push it back into turmoil.
Norway’s Sovereign Wealth Fund Dumps All Holdings of Irish and Portuguese Debt
If behavior like this continues with other countries we may see the beginnings of currency debt swaps fly off the rails.
Comments »Services and Manufacturing Output Falls More Than Expected in Europe
PMI dropped to 46.7 vs consensus of 47.4 taking oil and most European boards down…
Comments »ROFL: Russia Reserves Right to Strike US Missile System in Europe
http://www.youtube.com/watch?v=voiLpQa7Ezg&feature=g-all-u
Comments »CHART: This Is The State Of Global Deleveraging
From Swiss investment bank Pictet: Europe’s ugly divergence vs the great U.S. deleveraging.
See the chart and some analysis here.
Comments »Bad News for the ECB as Hollande Beats Sarkozy in a T.V. Debate
The ECB Keeps Rates Unchanged
Iran Oil Sanctions Considered Nearly Impossible to Meet
The shipping market may not be able to meet sanctions given oil is blended with the sweet crude Iran has on hand.
Comments »Asean+3 Increases Their Foreign Reserve Pool and Credit Lines
China, Japan, and Korea Form a Triad Bond Purchase Agreement
Supporting one and other is in their best interst given the troubles in the West.
Comments »China to Lower Stock Trading Fees by 25%
The move was announced as part of a reform package for the Chinese security markets.
Read the article here.
Comments »HUGH HENDRY: My Greatest Fear Is That Europe Will Confiscate My Assets
Euro Zone Unemployment Hits 15 Year Highs
You have to wonder if we impose austerity; will we see unemployment rise again ?
Comments »Spain’s Crisis May Change EU to Rethink Austerity Policies
“Spain is the crucial front in Europe’s battle to contain its economic crisis, and the fight is going badly.
Spain’s economy is in a tailspin. Some forecasters say the unemployment rate, already a punishingly high 24.4 percent, could reach 30 percent. The government’s credit rating has just been downgraded, and its cost of borrowing — close to 6 percent — is putting its solvency in question. Investors are watching the country’s banks with mounting concern.
Europe’s leaders cannot blame Madrid. Mariano Rajoy’s center-right government is making progress on reforms aimed at improving the country’s competitiveness and has tried — to a fault — to meet the European Union’s austerity demands. The resulting budget cuts are strangling the economy, squeezing the government’s revenue and increasing the likelihood that Spain will need still more austerity to meet the EU’s fiscal targets. The policy has become self-defeating….”
Comments »China Manufacturing Improving
Comments »HONG KONG (MarketWatch) — China’s manufacturing activity improved for a fifth straight month in April, signaling that economic conditions at factories were stabilizing, according to the result of an official survey released Tuesday.
World’s 50 Best Restaurants List Announced
1. Noma, Denmark
2. El Cellar de Can Roca, Spain
3. Mugaritz, Spain
4. D.O.M., Brazil
5. Osteria Francescana, Italy
6. Per Se, New York
