Debt Rattle April 17 2015
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Jack Delano Myrtle Beach, S.C. Air Service Command Technical Sergeant Choken 1943 • The REAL Issue With a Grexit/Greek Default is Derivatives (Phoenix
[See the full post at: Debt Rattle April 17 2015]Europe help Italy? Surely you jest. The EU was not established to help people or countries but to help themselves.
Is it so hard for Italy to look east and see what kind of “help” they can expect?
Excellent articles on Germany. They are considered “strong”, “never had it so good”, but they’re a house of cards. You have to add in their local/city debts and bank liabilities and you’ll see how close to Greece they really are. Just like France, U.K., U.S. etc…
11% increase in German car sales? Please. To whom? What booming, wealthy nation suddenly bought 11% of cars? Portugal? Brazil? China? Russia? Maybe Germans took a page from U.S. auto-sales “channel-stuffing.”
“Oh, and then there’s Greece…. which is coming, and is going to matter. Not so much because of Greece per-se, but because all that crap paper they wrote went somewhere, and the place it went was probably in places you don’t want it with the LTRO gamesmanship and similar.
Remember that in a derivative-linked world this crap is levered 20:1 as allegedly “good collateral” behind those bets, and when the collateral is exposed as trash the loss isn’t the face amount, it’s 20x as much because governments allowed this garbage to be geared up by so-called “banks” as a means of legalized counterfeiting.
Here it comes.”
https://market-ticker.org/akcs-www?post=230029
Reminds me of the days we ripped the white plastic covers off golf balls and watched them unwind in a violent fashion.
By Tariq Ali – “The New World Disorder”. Good read on Europe, Britain, Iraq, Iran, China, South America.
“There is ongoing debate around the world on the question of whether the American empire is in decline. And there is a vast literature of declinism, all arguing that this decline has begun and is irreversible. I see this as wishful thinking. […] …..at the present moment the United States remains unassailable: it exerts its soft power all over the world, including in the heartlands of its economic rivals; its hard power is still dominant, enabling it to occupy countries it sees as its enemies; and its ideological power is still overwhelming in Europe and beyond. […]
So in terms of economic strength the United States is still doing well. In many crucial markets – pharmaceuticals, aerospace, computer software, medical equipment – the US is dominant; the Chinese are nowhere. The figures in 2010 showed that three-quarters of China’s top two hundred exporting companies – and these are Chinese statistics – are foreign-owned. […] The notion that the Chinese are suddenly going to rise to power and replace the United States is baloney. It’s implausible militarily; it’s implausible economically; and politically, ideologically, it’s obvious that it’s not the case.”
https://www.counterpunch.org/2015/04/17/the-new-world-disorder/
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