Schlagwörter: Zerohedge

Iran-Sanktionen: Europa macht sich lächerlich

European efforts to protect trade with Iran, as an answer to mitigate U.S. sanctions, are hitting a brick wall. European politicians seem to be out of touch with reality not only in the markets, but also concerning the attitude of several of its member countries. European politicians, mostly working from their shiny offices in Brussels and Strassbourg, seem to be living in an ivory tower, as no real practical support for all their measures has been shown in the respective member states. weiter hier

Italiens Banken als tickende Bomben

In what may prove to be a painful admission in retrospect and an inadvertent green light for future bank runs, on Wednesday morning Italy’s Cabinet Undersecretary Giancarlo Giorgetti said in an interview on Italy’s RAI that Italian banks would need a “recapitalization” if the spread with German bonds continues to rise toward 400 basis points, from the current level of 314bps which is just shy of the widest level it has been going back to early 2013. weiter hier

Wie die Eurozone zerbrechen wird

The Eurozone has been built on quicksand. The examples of more than 200 former currency unions suggests rather vividly that a currency union needs to be either backed by a political union or it needs to have an exit option. The eurozone, markedly, has neither. It was erroneously assumed that when countries join the European Monetary Union (EMU), their economies would start to converge.  This means that it was thought that the poorer countries would start to catch-up to the richer ones in well-being and, e.g., productivity. That never materialized. The convergence that was observable during the first years of the euro halted after the financial crisis hit weiterlesen hier

Immer mehr Menschen, immer weniger Geld

Leading European politicians and economists argue that the influx of immigrants is an economic necessity. Naturalization of foreigners implemented for the purpose of executing a re-population program (resembling the Sinicization of Tibet) has become a national policy in most European countries. Replacing the dying European population with workers from Africa and the Middle East is supposed not only to save national economies and support the pension systems but also to boost economic growth.Basic economic indicators, however, show that the opposite is true. weiterlesen hier

Der Euro, ein Spaltpilz

Two European elections – in Germany on 24 September 2017 and Italy on 4 March 2018 – warn that the peoples of Europe are drifting apart. Much of the recent deepening of these divisions can be traced to Europe’s single currency, the euro. This column argues that the political divide in Europe may now be hard to roll back absent a shift in focus to national priorities that pay urgent attention to the needs of those being left behind. weiter hier

Der weltweite Aufstand gegen die Experten

“The last crisis [2008] hasn’t ended yet because they just delayed it. [Barack] Obama is an actor. He looks good, he raises good children, he is respectable. But he didn’t fix the economic system, he put novocaine [local anaesthetic] in the system. He delayed the problem by working with the bankers whom he should have prosecuted. And now we have double the deficit, adjusted for GDP, to create six million jobs, with a massive debt and the system isn’t cured. We retained zero interest rates, and that hasn’t helped. Basically we shifted the problem from the private corporates to the government in the U.S. So, the system remains very fragile.” (Nassim Nicholas Taleb, hier)