15:25 [Zero Hedge] (E)
"Management never misses an opportunity to draw attention to the poor financial situation of our company."
20:17 [Brave New Europe] (E)
What inspired your career trajectory from academic economist to prominent supranational activist? I went into politics because of the financial crisis of 2008. Had financial capitalism not imploded, I would have happily continued my quite obscure academic work at some university. The chain reaction of economic crises, financial bailouts, and the rise of what I call the Nationalist International that almost broke financial capitalism, and brought Greece severe hardship, had a profound impact on me. In the early to mid-2000s, I was beginning to feel that a crash was approaching. I could see that global financial imbalances were growing exponentially and that our generation or the next would be hampered by a systemic crisis.
23:24 [Zero Hedge] (E)
Ages and Ages of Rage - Monday morning and we here we go again for another “dramatic week”.
19:46 [Zero Hedge] (E)
More than three years ago, Fed watchers were stunned when none other than Ben Bernanke`s former special advisor, Andrew Levin, said that "a lot of people would be stunned to know” the extent to which the Federal Reserve is privately owned, stating next that the Fed "should be a fully public institution just like every other central bank." But is that true? Are all other central banks "fully public"? For the answer we go to a recent post from The BOE`s Banker Underground blog which looks at the question of who really owns central banks. Here is what it found.
18:49 [Gold Goats `n Guns] (E)
Back in April I told you that Germany was a “Dead Economy Walking.” Today I get to tell you that it’s legs are gone. This morning’s manufacturing PMI print was the worst news Angela Merkel could have imagined, 41.4. A figure so awful dogs will want to roll on it. Overall, Germany’s economy at the purchasing manager’s level is contracting. And with Merkel masking a massive tax increase as a political cave to the rising Greens the future for Germany’s economic growth looks as bad as the following chart.
19:17 [Zero Hedge] (E)
It`s not just "tinfoil blogs" who (for the past 11 years) have been warning that a monetary reset is inevitable and the only viable fallback option once trust and faith in fiat is lost, is a gold standard (something which even Mark Carney hinted at recently): central banks are joining the doom parade now too.