By John Glover, from Bloomberg Money is leaking out of banks in southern Europe as customers scoop deposits out of Greece, Spain and Italy to move cash to less indebted nations such as Germany. Greece ’s total deposits plunged 28 percent from the peak in June 2009 to 169 billion euros ($225 billion) at [...]
The U.S. is in the most serious economic depression since the Great Depression of the 1930′s. And now we are seeing that its major banks, in collusion with the U.S. Congress, has committed fraud, not only against American citizens, but, also, against banks around the world. The process was quite simple… The banks colluded with [...]
U.S. Is Bankrupt and We Don’t Even Know It Commentary by Laurence Kotlikoff Aug. 11 (Bloomberg) — Let’s get real. The U.S. is bankrupt. Neither spending more nor taxing less will help the country pay its bills. What it can and must do is radically simplify its tax, health-care, retirement and financial systems, each of [...]
The World does not know that there is a Great Depression in the U.S. and half of Europe. In Asia, Latin America and Eastern Europe people are working, buying cars and using gasoline powered motors. Oil is an international commodity whose price is determined by the entire population of the Planet. As a consequence, the [...]
It is all over the news today, Wednesday, February 10, 2010, Germany and France will bail Greece out. There are strong mixed opinions everywhere: This bailout will act as a precedent to other countries, who will then ignore the rules concerning debt. The IMF should have been used. Countries within the EU and the EU [...]
