Read the Tuesday Afternoon Wrap-up for 4/30/2013 and the Wednesday Morning Commentary for 5/1/2013
Of all the words I never expected to be associated with finance, “austerity” is atop the list; particularly in today’s world of GLOBAL, UNFETTERED MONEY PRINTING.
Thus far, it has been associated principally with Europe; although comically, some try to term America’s budget sequestration in 2013 an “austerity” measure; when in fact, its measly $1 trillion of back-end loaded spending cuts over the next DECADE will have little, if any, impact on its ANNUAL$1+ trillion deficits – particularly as the economy is once again rolling over; amidst EXPLODING debt…
How the United States’ High Debt Will Weaken the Economy and Hurt Americans
…and “UNPRECEDENTED” MONEY PRINTING…
Bernanke seen Keeping up Pace of QE until Fourth Quarter
“Austerity” was cooked up by the EVIL “troika” of the European Union (as governed by the EC, or European Commission), the ECB, and the IMF when Greece received its second bailout in early 2012. Essentially, it has been a ruse to pretend the MASSIVE MONEY PRINTING utilized to prop up everyone from Greece…
“GREEK TRAGEDY”
…to Portugal…
Debt spiral could push Portugal into new bail-out, admits EU-IMF
…to Ireland…
Ireland gets $113 Billion Bailout as EU Ministers seek to Halt Debt Crisis
…to Cyprus, would somehow be “paid back”…
EU finance ministers approve Cyprus bailout deal
…just as U.S. government PROPAGANDA is periodically utilized to pretend the Fed is considering “ending QE”; when in fact, it CANNOT, and WILL NOT…
They can’t do it – Bill Holter, Miles Franklin
Of course, all one needs to view is RESULTS to understand what a UNIVERSAL FAILURE the bailouts have been, “austerity” and all; as in Spain, where last June’s €100 billion bank bailout…
Eurozone OKs bailout of up to €100 billion for Spanish banks
…was met by further Spanish housing collapse – rendering its banks MORE insolvent…
Said PROPAGANDA is thicker than ever; as even the once-proud New York Times suggests things are “getting better”…
Deficits Fall in Europe, but Debt Rises – New York Times
…as if miniscule deficit reductions are worth the EXPLOSIONS of debt…
…and unemployment that have accompanied them…
Source: Zero Hedge
…much less, plunging economic activity…
Source: Zero Hedge
…surging social unrest…
Bersani admits he can’t form new Italian government
…and oh yeah, the fact that not only have the EU’s largest nations BADLY missed austerity-driven deficit targets…
France and Spain miss deficit goals, EU to focus on growth
…but several have seen them skyrocket…
Spain and Greece: Deficits Top 10%
Remember, austerity equates to less deficit spending; which has led to a European economy on the verge of collapse…
Latest Global Economic Slowdown Confirmed After Disappointing German PMI Data
Eurozone’s unemployment climbs to 12.1%, a fresh record high
…so what do you think will happen to DEBTS and DEFICITS if austerity is abruptly ended; as was suggested last week by EC President Jose Manuel Barroso…
Era of austerity has run its course, EU says
…who just happens to be – LOL – Portuguese…
Portugal PM issues bailout warning – April 8, 2013
…especially when the MONEY PRINTING spigots really get turned up – TOMORROW…
Gloomy eurozone output points to rate cut
German politicians may try to play the same “austerity games” with the PIFIGS (PIIGS plus France); but in the end game, they KNOW Europe will immediately implode if they insist on it…
Less Austerity? Nein, Nein, Nein Says Germany
Remember, ALL fiat currency regimes are PONZI SCHEMES that must grow larger (whilst maintaining CONFIDENCE) to survive; and thus, you can COUNT ON the “end of austerity” in the coming months – just as you can COUNT ON the end of the Euro currency, and ALL others with it…
Research Shows ALL Paper Money Systems Failed
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