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The Economic And Financial Problems In Europe Are Only Just Beginning…

Euro Gears - Public DomainRight now, the financial world is focused on the breathtaking stock market crash in China, but don’t forget to keep an eye on what is happening in Europe.  Collectively, the European Union has a larger population than the United States, a larger economy than either the U.S. or China, and the banking system in Europe is the biggest on the planet by far.  So what happens in Europe really matters, and at this point the European economy is absolutely primed for a meltdown.  European debt levels have never been higher, European banks are absolutely loaded with non-performing loans and high-risk derivatives, and the unemployment rate in the eurozone is currently more than double the unemployment rate in the United States.  In all the euphoria surrounding the “deal” that temporarily kept Greece in the eurozone, I think that people have forgotten that the economic and financial fundamentals in Europe have continued to deteriorate.  Whether Greece ultimately leaves the eurozone or not, a great financial crisis is inevitably coming to Europe.  It is just a matter of time. (Read More...)

EU Makes Greece ‘An Offer They Can’t Refuse': Agree To A Deal By Sunday Or Go Bankrupt

Gangsters - Public DomainIt looks like we aren’t going to have to wait much longer to see if Greece remains part of the eurozone or not.  Instead of softening their demands in the wake of the Greek referendum, European leaders have given the Greek government an ultimatum.  On Tuesday night, EU officials gave Greece a deadline of Thursday to submit a new proposal and a deadline of Sunday for agreeing to a deal.  If a deal is not reached on Sunday, all aid to Greece will be cut off and the nation will be faced with financial oblivion and a forced exit from the common currency.  But Angela Merkel has already made it abundantly clear that any new deal will not include a debt haircut – one of the key things that the Greek government wanted.  If a deal is actually made, it is almost certainly going to look very much like what Greece’s creditors have been offering all along.  Needless to say, this is precisely what the Greek people just voted against, but the pressure on Greek leadership is immense at this point.  In essence, they are being given “an offer they can’t refuse”.  So will the Greek government buckle under this mobster-like intimidation? (Read More...)

19 Warnings About A Coming Global Financial Catastrophe

Global leaders have tried just about everything that they can think of, but the coming global financial catastrophe continues to march steadily toward us.  We have seen “stimulus packages”, quantitative easing, bond buying, interest rate cuts, emergency economic summits, bailout packages for banks, bailout packages for entire nations, “Operation Twist”, unprecedented government intervention in business and massive amounts of new government debt and yet nothing seems to revive the global economy.  In fact, it looks like we are rapidly heading into the second dip of a “double dip recession”.  Unfortunately, many believe that this next dip will be more like a full-blown depression.  All over the world, top economic experts are warning that we are facing an unprecedented crisis of debt and insolvency that will result in a global financial catastrophe.  The eurozone is drowning in debt, the U.S. government is drowning in debt and major banks all over the globe are drowning in debt.  Global authorities have been trying to patch the system together and keep it going, but the incredible damage that all of this debt has done is now becoming apparent to everyone.  The global debt bubble that has fueled prosperity in the western world for the last several decades is getting ready to burst, and when that happens the chaos that will result will be absolutely horrifying. (Read More...)

Out Of The Ashes Of The Collapse Of The Eurozone Will A “United States Of Europe” Arise?

All over Europe, headlines are declaring that the eurozone is on the verge of collapse.  Many people falsely assume that this will mean the end of the euro and a return to national currencies.  Unfortunately, that is not going to be the case at all.  Instead, this is going to be yet another example of how the elite attempt to bring order out of chaos.  The European elite have no intention on giving up on a united Europe.  Rather, they hope to be able to bring to life a new “United States of Europe” out of the ashes of the existing eurozone.  Over the coming months we will see widespread panic and fear all across Europe.  The euro will likely sink like a rock and there will probably be huge financial problems in Europe and all around the globe.  But for the European elite, a great crisis like this represents a golden opportunity to tear down the existing structures and build new ones.  The solution that the European elite will be pushing will not be to go back to the way that Europe used to be.  Instead, they will be pushing the idea of a much more tightly integrated Europe really hard. (Read More...)

The United States Of Europe: A Proposed “Economic Government” Would Integrate Europe To A Degree Not Seen Since The Roman Empire

Are you ready for “The United States Of Europe”?  The integration of Europe is about to go to another level.  As the European debt crisis deepens, there are cries all over the EU for full economic integration in Europe.  On Wednesday, French President Nicolas Sarkozy and German Chancellor Angela Merkel sent a letter to European Council President Herman Van Rompuy which stated that they want a new “economic government” for Europe to be formed.  According to the letter, Sarkozy and Merkel want the leaders of the eurozone countries to “elect” a president for the new “economic government”.  The idea would be that the president would hold twice-yearly summits to address the debt problems that Europe is facing right now.  But many pro-EU critics are already howling that Sarkozy and Merkel have not gone nearly far enough.  A whole lot of “experts” in Europe are proclaiming that without full economic integration and the creation of “eurobonds”, Europe is doomed.  Jennifer McKeown, an economist for Capital Economics, put it this way when asked what would happen if eurobonds are not created fairly soon: “The likely outcome is the eurozone ceases to exist”. (Read More...)