Bottom line: While government leaders are painting a hopeful picture of the economy, what needs to be paid attention to is not the happy talk, but the actions of global leaders which is all about re-stocking for more financial problems ahead.
The reason: increasing market rumors that the country is contemplating a voluntary debt exchange in which a portion of the debt will be cut, in essence an out of court bankruptcy but for a sovereign.
It is not dollars, treasuries, bonds and debt that is being sold by your government.
If Mount Katla erupts it could have devastating impacts on Europe's economy. What we have seen so far may be only a warm-up for what is to come in the form of economic disruption.
- First she drew attention in Africa for bluntly declaring that slavery remained widespread, and then Gov. Gen. Michaelle Jean visited a dungeon with a dark past to illustrate her point Friday. Jean's statement about the plight of children in Seneg
France, with $781 billion in total claims. Should Greece topple the PIIGS dominoes, France will implode. And this is precisely what CDS traders are betting on now, taking advantage of absurdly tight France CDS levels.
Katla might only need a nudge. Effects of Katla's eruption would put the present air travel chaos in the shade, inflicting much greater economic losses upon Europe.
This decline after the August peak should be far more serious and we believe it will be the start of a major market rout continuing into the middle of 2011, at a minimum. The deflationary recession that will accompany this market collapse...
The Laki volcano is considered a central cause of the French Revolution, as it led to a poor harvest and public unrest in the country. In the photo you can see the plume heading southeast for Europe.
China's stunning economic rise is one of the biggest stories of this generation. In just three decades since beginning to embrace market economics, China has left its desperate poverty behind to become the world's top exporting nation. The transform
Railway porter-turned-billionaire financier George Soros delivered a stark warning last night that the financial world is on the wrong track and that we may be hurtling towards an even bigger boom and bust than in the credit crisis. The man who ‘brok
The IMF has just announced that it is expanding its New Arrangement to Borrow (NAB) multilateral facility from its existing $50 billion by a whopping $500 billion (SDR333.5 billion), to $550 billion.
No, not just Greece - all of Europe. Without Congressional authorization or notice, of course. That nice little vertical line is a gain of $421.8 billion dollars of outstanding loans and leases in one week's time.
Jack Gregson uses simple (and complex) charts to explain 'The True State of the Economy 2010' (VIDEO)
Poland did not need the International Monetary Fund money, and the economy is in excellent shape and getting better. A few days later, the people responsible for this die in a plane crash.
IMF chief Dominique Strauss-Kahn said public debt in the advanced economies is set to increase significantly and reversing the rise would be a "tremendous" challenge. [Oh dear, perhaps we should raise taxes?]
Lehman Brothers Holdings Inc told a U.S. bankruptcy judge that Barclays Plc should be forced to return certain assets it received in its 2008 acquisition of Lehman's core U.S. brokerage, because Barclays arranged a secret $5 billion discount.
Greece's deficit spending as a percentage of GDP (~12.5% this year) looks a lot like ours, which is right around 11% at present. Is anyone in Washington DC paying attention to what's happening over there?
World markets slid Thursday amid mounting worries about a potential Greek debt default as the country's borrowing costs continue to go through the roof.
Bjoernsdottir is not alone in planning to leave Iceland's economic mess behind and seek a new future abroad. Most people in Reykjavik have someone in their surroundings who has already packed their bags and left.
Anna Margret Bjoernsdottir never thought she would be forced to leave her once wealthy homeland. But taking out a loan in a foreign currency was a disastrous decision. After 18 months of economic upheaval she has decided to join the biggest emigrat
Oh no, we better not talk about the black hole opening up on bank balance sheets (again)..... that might be a problem eh? Just remember that right up until Lehman blew up the market, while it had its ups and downs, didn't react "too badly" either.
George Soros has brought together a crack team of the world's top economists and financial thinkers. Its aim: To remake the world's economy as they see fit.
Gloom Boom & Doom Report publisher Marc Faber and economic analyst Mike “Mish” Shedlock join Yahoo’s Tech Ticker on March 12, 2010 to discuss the global economy, where we’re headed and the possibility of the “end of civilization.” (Videos follow exc
Sovereign debt is already (or is set to rise) above such a tipping point in the US, the UK and the eurozone. It is already more than twice that level in Japan. This means rich countries will lack a dynamic core to help them grow their way out...
Ireland’s banks need $43 billion in new capital after “appalling” lending decisions left the country’s financial system on the brink of collapse.
The network would eventually carry passengers from London to Beijing and then to Singapore. It would also run to India and Pakistan, according to Wang Mengshu, a member of the Chinese Academy of Engineering and a senior consultant on China's domes
However you dress it, the Greek package agreed by EU leaders is a capitulation to German-Dutch demands. There will be no European debt union as long as Angela Merkel remains Iron Chancellor of Germany. The Frankfurter Allgemeine summed up the deal
- "the EU is in dire position", on the precipice of shattering into default and civil unrest; - the sovereign debt crisis materializing across Europe will soon reach US shores; - the CFTC will curtail currency speculation by slashing leverage...
The People's Party, the largest group in a five-party coalition, walked out amid disputes over how to cope with the country's severe problems. Unemployment has now hit 20 per cent and the economy contracted by 18 per cent last year. The People's
