Protests broke out in Greece over the weekend in Athens and the northern city of Thessaloniki. The government is yielding to Brussels and has not figured out that this policy is destroying its own people and their future. The government passed reforms that they hope will persuade lenders to release more financial aid. They are cutting […]
While many are slamming Trump for suggesting that the U.S. buy back its debt for less than face value, the truth is that he is at least talking about the issue. When criticized by George Stephanopoulous, Trump responded, “You never know. At some point, they [China] might want to get out. Maybe they need their money, they might […]
We are facing a pension crisis, thanks to negative interest rates that have destroyed pension funds. Pension funds are a tempting pot of money that government cannot keep its hands out of. The federal government of Canada, for example, is looking to reduce the cost of government by shifting Canada’s mounting infrastructure costs to the […]
I have warned that Illinois is on the brink of bankruptcy. Now, Illinois Comptroller Leslie Geissler Munger says she will delay monthly paychecks for lawmakers and statewide officials since there isn’t enough money to pay the state’s bills and other services should come first. This is really interesting. What will happen next when the politicians cannot get […]
We are finishing up the “Pension Crisis – The Next Nightmare,” which is a special report outlining the next global meltdown. Germany’s Federal Finance Minister Schaeuble is now openly blaming Mario Draghi for the electoral success of the AFD in Germany, which is the Alternative for Germany (In German: Alternative für Deutschland, AfD). The AFD is a […]
Some people were surprised that I wrote that the USA paid off its debt under Andrew Jackson. What you have to understand is that the debt was effectively a deal between Jefferson and Hamilton. Jefferson forced an agreement that debt had to be paid off and the capitol would be put next to Virginia which became Washington, […]
In Naples, Italy, riots against Prime Minister Matteo Renzi resulted in clashes between police and demonstrators. Italy’s government had to address the plight of Italian banks which now seems to be significant as both houses of parliament voted to create a state fund for bad loans. On Tuesday, the government announced that they planned to fund the money […]
Janet Yellen signaled that the Fed is grappling with the problem I have been warning about: the dollar has become the de facto currency and the Fed is indeed becoming the world’s central bank. Yellen has admitted that everyone is lobbying the Fed to surrender its domestic policy objectives for international ones. This is precisely […]
While the markets have cheered the public admission that the central banks have completely failed in their quantitative easing and they will now buy more for longer, the technical profile is not as buoyant as it might appear on the surface. We have at least begun to enter the resistance area, but we have still […]
New South Wales Treasurer Gladys Berejiklian. Photo: Daniel Munoz Everywhere we look, governments are in deep trouble. Down under in New South Wales, Treasurer Gladys Berejiklian has put in motion a quite dramatic reduction in the size of government. She has outlined a number of government departments, agencies, state-owned corporations, boards, committees, and trusts that need to be curtailed […]
