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Economics Archive
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Greek Bond Yields Explode as 1 year moves 100 bps to over 752% in One Day
Posted on February 22, 2012 | No Commentsby John Galt February 22, 2012 05:30 ET In what can only be called a determination of default by investors, the sell off of Greece’s short term debt tells a tale of woe. The 1 year bond yield moved from yesterday’s close of 652% to 752% overnight while the 2 year moved a whopping 20 bps from 192% to... -
2.21.12 AEP: Greek debt accord hostage to political passions
Posted on February 21, 2012 | No Commentsby John Galt February 21, 2012 18:10 ET The first three portions of Ambrose Evans-Pritchard’s commentary on the Greek tragedy today drop a huge hint as to what is coming in the Balkans: Greek elections in April are likely to sweep away the political class tainted by the hated “Memorandum” of the EU-IMF Troika, with the once dominant PASOK... -
Greece elects to Default on its Bonds – If the Rule of Law is Enforced
Posted on February 21, 2012 | No Commentsby John Galt February 21, 2012 05:05 ET The technocrats are all patting themselves on the back but the truth about today’s “bailout” announcement comes from the Hellenic Financial Authority and its statement today (via The Athens News): The Hellenic Republic today announced the key terms of a voluntary transaction in furtherance of the 26 October 2011 Euro Summit... -
2/19 AEP: Can a return to the drachma save Greece as unemployment soars?
Posted on February 19, 2012 | No Commentsby John Galt February 19, 2012 17:00 ET Different weekend, same headlines. Another deal, another bail out rumor, another saving of the Euro, and another piece of wood on to the pyre inflaming and destroying the oldest democracy in world history. Yet while the Greeks suffer, Berlin fiddles. Tonight, Ambrose Evans-Pritchard in the U.K. Telegraph addresses the idea of... -
2.17.12 AEP: Iceland’s Viking Victory
Posted on February 17, 2012 | No Commentsby John Galt February 17, 2012 19:15 ET So much for the “how dare you” mindset of the British and European banksters who wanted to invade Iceland with military force to take over the nation and insure they pay their debts back to their nations. Once the people Iceland elected to remain independent and not become victims of European... -
At 600% the One Year Greek Bond Yield demonstrates the Absurdity of it all
Posted on February 17, 2012 | No Commentsby John Galt February 17, 2012 05:20 ET Of course TPTB will tell us, just like they did with Indymac, Fannie, Freddie, and Bear Stearns that is “contained” and no big deal. Of course tell the Greeks digging through dumpsters this fact and I’m sure they will provide you with a sip from a Molotov cocktail. I give this... -
2/16 Housing Data: More Depressing News in Realityville
Posted on February 16, 2012 | No Commentsby John Galt February 16, 2012 21:45 ET The housing news, as usual, was spun by the Obamamedia, the Fedomedia, and the Bullmedia as the ultimate sign that once again, for the 113th time in 4 years, “We’ve turned the corner!” And as the unicorn pooping skittles and rainbows sprayed the news over Wall Street and the gullible morons... -
Weekly FDIC Bank Chart Update courtesy of CalOkie
Posted on February 16, 2012 | No Commentsby John Galt February 16, 2012 17:40 ET Many thanks to CalOkie for the latest updates on the FDIC bank failures from last week as the Treasury and the government continue to avoid the major regional bankster problem and concentrate on community banks which are faltering thanks to the idiots who conceived Dodd-Frank. Of course, the major banksters like... -
The Water Wars have Begun
Posted on February 14, 2012 | No Commentsby John Galt February 14, 2012 05:30 ET Way, way, way back in history, well, 2010 to be exact, a number of financial and geopolitical writers began to warn about the impending resource wars which would focus on energy, food, and water. Water was the most precarious of resources as it was strictly a geographically limited resource and required... -
And after all the drama guess what? Greece is still Insolvent
Posted on February 12, 2012 | No Commentsby John Galt February 12, 2012 17:50 ET The sad sorry joke being perpetuated on the citizens of Greece who are clueless sheep and the mindless individual investors, what few are left, playing the Wall Street casino, is that tonight’s vote on the new Greek austerity program by the Greek parliament is irrelevant. The nation of Greece is completely... -
2.12.12 AEP: Germany’s Carthaginian terms for Greece
Posted on February 12, 2012 | No Commentsby John Galt February 12, 2012 16:45 ET Tonight’s editorial from Ambrose Evans-Pritchard in the U.K. Telegraph is perhaps the starkest commentary yet on the disaster in the European Union and inside of Greece: Germany’s Carthaginian terms for Greece (click on the title to read the commentary in full) One sentence describes the EU’s folly best of all in... -
Live Video from Athens as the Greek Parliament debates
Posted on February 12, 2012 | No Commentsby John Galt February 12, 2012 10:50 ET From Zougla.gr: Today’s debate and vote later on might be a forgone conclusion, but the reaction of the masses in the street is what will be most fascinating to watch. -
Meanwhile in Greece the Protesters scream “Nazis Out!” as they Burn German Flags
Posted on February 7, 2012 | No Commentsby John Galt February 7, 2012 22:05 ET (Photo from Eurokinissi) It’s a good thing the IMF, the Troika, the ECB, and German masters have settled the Greek crisis. Of course that explains why this story from The Athens News was a “positive” reaction to the German imposed bankster austerity settlement whispered, rumored, and leaked today: Strike protesters burn... -
2.7.12 AEP: An orderly EMU break-up, à la Française
Posted on February 7, 2012 | No Commentsby John Galt February 7, 2012 18:55 ET With the hour by hour, minute by minute, second by second, millisecond by millisecond, and of course, microsecond by microsecond breaking rumors, er, “news” about a potential Greek bailout since 2009, the markets and reality are beginning to come up with answers to the inevitable break up of the European Monetary... -
1 Year Greek Bond Yields Surge over 500%
Posted on February 6, 2012 | No Commentsby John Galt February 6, 2012 05:25 ET All the Troika talks, politician’s lies, and banksters extortionist threats couldn’t put Humpty Dumptikos back together again. The graphic be;pw via Bloomberg.com says all you need to know about a Greek default being an inevitability, no matter what lies the television talking heads or Eurozone political elites present on a daily... -
2.5.12 AEP: French socialists’ Latin revolt against Germany
Posted on February 5, 2012 | No Commentsby John Galt February 5, 2012 16:15 ET The furor being raised at Germany and its policies designed to impose a new order of economic dictatorship over the poor nations of Europe and the weak banksters of the continent is now being openly expressed by the French socialists, as expressed in Ambrose Evans-Pritchard’s column from tonight’s edition of the U.K.... -
The Must Read Story about the Foreclosure Fraud in the U.S.A.
Posted on February 5, 2012 | No Commentsby John Galt February 5, 2012 11:15 ET Gretchen Morgenson has produced a story in this morning’s edition of the New York Times which is a must read as a primer regarding the severity of fraud within the mortgage and real estate industry: A Mortgage Tornado Warning, Unheeded (Click on the title to read the story in full) The one... -
2.2.12 Weekly Unemployment Claims: The Hype is just that
Posted on February 2, 2012 | No Commentsby John Galt February 2, 2012 17:15 ET The Obama administration, Federal Reserve, and their compliant slugs in the mainstream media continue to ignore reality and issue glowing reports from the Department of Propaganda as usual. Reality? The non-seasonally adjusted claims continue to indicate that job creation is sluggish and akin to 0% growth or recessionary indications and the... -
1.30.12 – CalOkie Bank Failure Page Update
Posted on January 30, 2012 | No Commentsby John Galt January 30, 2012 18:00 ET The bank failures on Friday indicate that Turbo Timmy and his boys have some money to play with now and the disaster of massive bank failures might have receded in 2010-2011 but this is 2012 and selective strikes against ‘red state’ political points for attack or worse, to create panic before the... -
2011 Housing Report: The Worst Year in Modern History
Posted on January 29, 2012 | No Commentsby John Galt January 29, 2012 22:00 ET There will be great discussion about the “recovery” of 2011, but the reality of just how dire the economy is for Main Street is best defined by the one asset the average soul attempts to hold up as their primary investment, the single family house. Unfortunately for the political elites, the disaster... -
1.27.12 FDIC Friday: 4 Failures as of 7 p.m. EST in FL, MN, TN
Posted on January 27, 2012 | No Commentsby John Galt January 27, 2012 19:30 ET I guess Turbo Timmy has given the FDIC the green light to shut down some of the insolvent masses. One wonders how long the authorities will let some of the insolvent regional banks operate now. Click on the bank’s name to read the FDIC report below: BankEast, Knoxville, TN Patriot Bank... -
Bank Failure Friday Bottom Bounce?
Posted on January 25, 2012 | No CommentsBy CalOkie 1/23/2012 For those of us watching, last year was became very predictable. Predictable meaning last year’s monthly bank failure DIF cost totals, followed a well established 17 month pattern which had started in 2010. When the pattern broke, bank failures and DIF cost plummeted. We sort of hit a BOTTOM for the last 8 weeks. Since it... -
1.24 AEP: EU ratchets up pressure with Greek default threat
Posted on January 24, 2012 | No Commentsby John Galt January 24, 2012 19:45 ET Tonight’s story from Ambrose Evans-Pritchard in the U.K. Telegraph should send a chill down everyone’s spine: EU ratchets up pressure with Greek default threat (Click on the title above to read the story in full) The excerpt that should disturb the average soul: “We’re sending a direct message to Greece that... -
1.22 AEP: America overcomes the debt crisis as Britain sinks deeper into the swamp
Posted on January 22, 2012 | No Commentsby John Galt January 22, 2012 17:35 ET Too bad Ambrose Evans-Pritchard in tonight’s U.K. Telegraph commentary doesn’t recognize that America is doing this with smoke, mirrors, and hopium. To read the article in full, click on the link below: America overcomes the debt crisis as Britain sinks deeper into the swamp Needless to say, this faith in the... -
The United Kingdom Introduces the idea of a “Mansion” Tax
Posted on January 21, 2012 | No Commentsby John Galt January 21, 2012 22:45 ET The U.K. Telegraph’s lead story at this moment is what I would term a shocker of an idea soon to come to the United States in a desperate attempt to raise funds to stabilize the real estate industry and prevent lower income homeowners from losing their homes due to foreclosure or... -
FDIC Friday is back: 3 failures by 6:15 p.m. ET
Posted on January 20, 2012 | No Commentsby John Galt January 20, 2012 18:20 ET I guess the FDIC was able to convince Turbo Timmy to allow them to use a little bit of the DIF so they can close some real small lemons. Click on the links to read the details and check out CalOkie’s updated page on Monday to see the full gory details... -
1.19 AEP: Portugal is heading into a Grecian Spiral
Posted on January 19, 2012 | No Commentsby John Galt January 19, 2012 23:00 ET As the markets continue their drunken ways, Portugal is sending out a distress signal. Ambrose Evans-Pritchard’s story this morning from the U.K. Telegraph heralds this warning clarion in graphic detail: Portugal to need “debt haircut” as economy tips into Grecian downward spiral (Click on the title to read the full article The... -
The Markets have voted on the Greek Bail out talks: 454% for a 1 year bond Yield
Posted on January 19, 2012 | No Commentsby John Galt January 19, 2012 05:30 ET Based on the 1, 2, and 10 year bond yields in Greece, the markets are voting on a Greek default. So ignore the MSM and Financial media nonsense that is spewed today and prepare for a shock wave to hit the banksters around the world in the next 60 days. Next... -
And another American Icon Files for Bankruptcy
Posted on January 19, 2012 | No Commentsby John Galt January 19, 2012 05:20 ET If this isn’t an indication or sign of just how far our nation has evolved, I don’t know what is. Polaroid and Kodak executives chuckled when they were warned over a decade ago that digital cameras were the future, yet they, like many other American executives persisted in the “it can’t happen... -
Let the Good Times Roll
Posted on January 18, 2012 | No CommentsLet the Good Times Roll By CalOkie 1/18/2012 Oh where… oh where has the FDIC gone? It appears today that FDIC is becoming as useful as the Maytag repairman from yesteryear. For you out there to young to remember, the Maytag man was the guy in the television commercials from the late 60’s thru the late 80’s who portrayed a... -
Kill, Kill, Kill, Kill, Kill the Poor: The EU Decides to Sue Hungary
Posted on January 17, 2012 | 1 Commentby John Galt January 17, 2012 19:50 ET For my generation, the Dead Kennedys were the ultimate rebel punk band, spitting on the establishment and dismissing the elitists of the day as warmongering scum. Thus when I saw the headline and story from Xinhua tonight, the song seemed oh so perfect as the European banksters have elected to roll a... -
1.17 U.S. Market Preview: Gadzooks its the PBOC Bazooka
Posted on January 17, 2012 | No Commentsby John Galt January 17, 2012 05:20 ET The ChiComs broke out the heavy weaponry but then again, didn’t yours truly say they could do this? Yes, I did and reports are that China injected $30 billion into their equity and financial markets to insure that the selling would be stemmed regardless of the economic figures manufactured by the government.... -
Chinese GDP comes in Hot at +8.9% Year over Year; +9.2% for all of 2011
Posted on January 16, 2012 | No Commentsby John Galt January 16, 2012 09:25 ET The Chinese data came in a tad hot and now the doubts about the need for the Chinese authorities to ease comes into play. If the ChiComs fail to ease the Western economies already floundering might indeed see a deeper reduction in economic growth as the Chinese tap down inflation fears and... -
More UK Retailers abandon the World Reserve Currency to pay their suppliers in Yuan
Posted on January 15, 2012 | No Commentsby John Galt January 15, 2012 20:20 ET Have no fear, the dollar will always be here! Or is that Underdog? The truth is in the migration away from the U.S. Dollar and into every possible currency but Mr. Bucky as the Federal Reserve has elected to monetize every freaking dime of debt to prevent the default of the... -
Socialism Fails Again: Spain’s Ghost Airports
Posted on January 15, 2012 | No Commentsby John Galt January 15, 2012 16:15 ET The gloating of the American citizen who reads this story will be quite short lived once the average soul takes a moment to reflect on all of the idiotic projects and empty airports built by the likes of Pelosi, Boehner, Reid, or other Senator or Representative. The problem is, like the European... -
Add Romania to the list of nations experiencing Austerity Riots
Posted on January 15, 2012 | No Commentsby John Galt January 15, 2012 15:15 ET Coming to the U.S.A. soon. The protests initially started out over a government modification to the country’s national health care program. on Day 3 it evolved into an anti-government protest which has continued through Sunday in Bucharest and across many major cities according to this Reuters story, Romania protests spread despite health... -
The Enslavement of the nation of Greece
Posted on January 15, 2012 | No Commentsby John Galt January 15, 2012 13:00 ET While America slumbers, the designs on our future are being tested by the bankers of the world in the PIIGS nations plus Hungary. The origins of the rule of law in the United States can be traced back to European history and specifically, English common law. Thus when the time comes for... -
S.C. Woman Jailed for Being Messy and Poor
Posted on January 15, 2012 | No Commentsby John Galt January 15, 2012 13:50 ET Via WCBD, Charleston, SC. Perhaps some Federally sponsored debtor’s prison’s managed by the Federal Reserve would cure this problem. /sarcasm off -
1/15 Israeli TASE market down 1.18% after Euro Downgrades
Posted on January 15, 2012 | No Commentsby John Galt January 15, 2012 08:15 ET The first major stock market is open for trading after the massive wave of S&P downgrades for the Eurozone and the results are not surprising with the Israeli TASE down 1.18% in late afternoon trading: The Arab markets throughout the region are mixed throughout the region with Dubai registering the second... -
Italy = Borat…Thank you ZeroHedge for the Tweet of the Day
Posted on January 13, 2012 | No Commentsby John Galt January 13, 2012 18:00 ET And now, presenting the Tweet of the day courtesy of ZeroHedge: I think old “Tyler Durden” said it without thinking of us minions and our twisted sense of humor. However, here is S&P’s downgrade in full from their website (Click on this link to read the full damage): S&P downgrades Italy...
