Another conversation with my acquaintance, another detail. I have written before about how banks routinely make a mockery of the whole idea of bank regulation, in “Why Bank Regulation is a joke“, and in “Who Bankrupted Ireland?“. Here is another peek inside the moral vacuum which is International Banking. This source of this story swears it …
At what point do the financial experts have to admit the plan has not worked and that they are as lost? Today the latest employment US figures revealed just how utterly clueless those financial experts are. The ‘expectation’ of surveyed Wall Street experts for the employment figures was for 105K to be added. The result …
They may be the lowest form of human life, but when it comes to defending their wealth the Financial class are not stupid. They know they need to make us, not them, pay for those debts whatever it costs. That’s why, to quote one leading market analyst, ‘there are still doubts on whether the peripheral …
Three men spoke out this last week, between then they paint a picture of our crisis: John Lipsky, Acting Head of the IMF, Greek Deputy Prime Minister, Theodorus Pangalos and Mervyn King Governor of The Bank of England. According to the Greek Deputy Prime minister, Theodoros Pangalos, Greece “may have trouble” passing some of the …
Sometimes its the little details that tell the story. Here’s one such small detail that makes me think that I’m not the only person in Europe who thinks this crisis isn’t over. A friend of mine in the financial world in Switzerland, told me today that the Swiss banks have very nearly run out of …
For the last 3 years the only plan our leaders have had, has been to ‘kick the can’ down the road. They wouldn’t admit to it of course, but that is what their actions of the last 3 years have amounted to. Putting off making any real changes or reforms that the bankers would not …
The Greek government has won its confidence vote. Stock markets will rally. So is it over? Crisis averted? MarketWatch think so. They’re already talking about this being see as the moment when Greece avoided default. But they are wrong. Step back and ask yourself why, after two years of virtually zero percent Central Bank interest …
Why the Crisis is not over and will recur – Part one Read More »
Just in case any of you have friends or relatives in Greece, some of the articles from the blog in which I have argued that Greece, Portugal and Ireland DO have an alternative to the endless and unjust austerity and bank bail-outs that are being forced upon them, are now being translated into Greek on …
Tensions in Greece are reaching melting point. And the debate is a clear and straightforward one. What we are witnessing is a propaganda battle between the forces calling for Austerity and those (perhaps indirectly) proposing Default. Those calling for Austerity claim lazy workers, socialism and corrupt politicians created a dire fiscal problem that Greece must …
Guest Post by Hawkeye – Irresponsible borrowing and irresponsible lending Read More »
What is meant by this phrase “orderly default” which is all over the news this morning? It sounds so sensible. I think it is another entry in the liars lexicon. When the banks and pundits say orderly, they mean orderly for the banks. Not orderly for Greece or the Greeks or the Portuguese or Irish. …
