By Stephen Lendman When investing becomes gambling, bad endings follow. The next credit crunch could make 2008-09 look mild by comparison. Bank of International Settlements (BIS) data show around $700 trillion in global derivatives. Along with credit default swaps and other exotic instruments, the total notional derivatives value is about $1.5 quadrillion – about 20% … Continue reading
By Michael Snyder Did you know that the percentage of children in the United States that are living in poverty is actually significantly higher than it was back in 2008? When I write about an “economic collapse”, most people think of a collapse of the financial markets. And without a doubt, one is coming very … Continue reading
By Michael Snyder When financial markets crash, they do not do so in a vacuum. There are always patterns, signs and indicators that tell us that something is about to happen. In this article, I am going to share with you four patterns that are happening right now that also happened just prior to the … Continue reading
By Michael Snyder The President of France has come up with a very creative way of solving the European debt crisis. On Sunday, a piece authored by French President Francois Hollande suggested that the ultimate solution to the problems currently plaguing Europe would be for every member of the eurozone to transfer all of their … Continue reading
The OPEC nation of Venezuela has long been home to the world’s highest inflation rate, and now the nation is set to become the site of the 57th hyperinflation event in modern recorded history, says Steve Hanke, professor of applied economics at Johns Hopkins University, Bloomberg reports. As Venezuela’s currency has plunged 32 percent over the past month … Continue reading
By Michael Snyder There has been so much attention on Greece in recent weeks, but the truth is that Greece represents only a very tiny fraction of an unprecedented global debt bomb which threatens to explode at any moment. As you are about to see, there are 24 nations that are currently facing a full-blown … Continue reading
Now that Eurozone leaders have agreed to provide Greece with a new bailout, the economic crisis has seemingly been averted. But as former U.S. presidential candidate Ron Paul points out, this resolution is only a temporary fix, another “crisis is inevitable,” and it could mirror the United States’ own demise. By Ron Paul (originally published July … Continue reading
By Michael Snyder The “deal that was designed to fail” has already begun to unravel. The IMF, which was expected to provide a big chunk of the financing, has indicated that it may walk away from the deal unless Greece is granted extensive debt relief. This is something that the Germans and their allies have … Continue reading
By Sputnik News With Greece tottering on the brink of leaving the Eurozone, experts of all stripes have been debating Grexit’s security implications, including Athens’ relationship with NATO. While naysayers argue that the geopolitics behind Grexit “are actually pretty boring,” others warn that the implications for the bloc could be far more serious. Over the … Continue reading
By Ellen Brown Banks create money when they make loans. Greece could restore the liquidity desperately needed by its banks and its economy by nationalizing the banks and issuing digital loans backed by government guarantees to its ailing businesses. Greece could provide an inspiring model of sustainable prosperity for the world. But it is being … Continue reading