by John Galt March 28, 2013 21:30 ET Ah, the good old days. Spain can’t meet it’s goals and needs a break from the European Union. Italy can’t form a government again (again, again, again, etc…). Ireland got drunk and forgot to make a bond payment. Greece well, is Greece. And good old Portugal can’t meet the commitments they made to the IMF, EU, and European Central Bank about their deficit spending. Wait a minute, that’s exactly what El Pais reported this afternoon:…
by John Galt June 1, 2012 05:15 ET (All charts courtesy of Bloomberg.com) Have my readers ever wondered why the financial networks always show 1 year, 6 month, or 3 month charts of stocks, bonds, or indexes whenever possible? Perhaps these seven charts will indicate why they prefer to color the truth and hide the seriousness of the economic realities of Europe. I have posted the charts of the major stock market indexes for the PIIGS plus Cyprus and Hungary to offer…
by John Galt March 27, 2012 23:00 ET The saga of the Eurozone is far from over and the latest piece from Ambrose Evans-Pritchard in the U.K. Telegraph tonight says it all: Spain to slash spending as economy slumps back into recession (click on the title above to read the story in full) As the world thinks the Greek disaster is behind them, the lurking nightmares of Hungary, Ireland, Portugal, and Spain along with Cyprus and other Balkan states hangs over the heads of…
by John Galt March 18, 2012 16:00 ET The music is fading, the crescendo of crisis overrated according to some, the people of Athens are now found digging through garbage cans fighting their former pets for meals, all while the European Union chieftains and banking elite enjoy Chateaubriand and caviar in celebration of another hollow victory. The bondholders who refused to comply with the Greek default order are going to be paid a pittance compared to the thievery of the banksters and average citizens throughout…
by John Galt March 8, 2012 22:15 ET The problem with a Ponzi scheme is that eventually someone gets angry enough to see the con for what it is and asks where the money really is. Welcome to the PECB, the Ponzi European Central Bank. Ambrose Evans-Pritchard has addressed this issue in his column tonight in the U.K. Telegraph: Legal skull-duggery in Greece may doom Portugal (click on the title above to access article in full) As the Greece insolvency crisis continues despite the bond…
by John Galt February 28, 2012 19:00 ET Can I get an “Oops” and an “AMEN” from the audience please? Irish EU treaty vote threatens chaos Ambrose Evans-Pritchard has elected to defy the powers that be in the European Union again and post an inflammatory but accurate commentary in tonight’s U.K. Telegraph (Click on the title above to read it in full) about what happens when representative democracy meets the agenda of the banksters who wish to enslave populations without proper representation. Excerpted: All three…
by 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 excerpt which should set off alarm bells in bankster’s offices from Brussels to Berlin: The problem is the slow-burn threat of debt-deflation. Interest costs for…
By John Galt November 30, 2011 – 12:50 ET If I were to offer an unbiased opinion, I would say that it is too early to tell. However, the lack of a vociferous and solid course of action for the EFSF to bail out anything beyond what has been established for the nations of Portugal,Ireland, and Greece versus the abject panic in Berlin and Paris about the collapse of Italy and Spain tells this blogger that indeed, a decision may have been made to limit…
By John Galt July 18, 2011 And in my opinion, many in the responsible nations of Europe are losing patience with the E.U. also. Check out AEP’s latest at the U.K. Telegraph tonight at this link: Portugal Loses Patience With Europe
By John Galt July 5, 2011 When you go to Moody’s home page and read the information about the downgrade (available at this link) the lack of faith in the ECB’s plans to quasi-monetize their way out of the European Union PIIGS crisis has been exposed. Yesterday it was S&P commenting on the Greek bailout and today’s move by Moody’s to move Portugal from Baa1 to Ba2 is a bit of a shock to a nation already struggling to implement austerity Juncker style. The reasons…
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