Look at the taxes you pay, consider the country where you live.
Greece, Venezuela, Brazil, and Puerto Rico may be in the headlines today, but most governments are also facing the global debt crisis.
Look at the taxes you pay, consider the country where you live.
Greece, Venezuela, Brazil, and Puerto Rico may be in the headlines today, but most governments are also facing the global debt crisis.
Review this past week:
Brazilian economists are aiming for a best hopeful target of 0% growth -which speaks volumes about how deep the negatives are plunging the economy into.
“Venezuela’s sources of FX financing are limited, the sovereign last issued a global bond in 2011, and significant multilateral funding is not expected in 2015 – 2016.”
“There is going to be a turn in the bond market or a plateau, and that’s going to be uncomfortable for those guys, and we are going to see some messy times.” -Catherine A. Fitts
Remember – It is not an Accident, It is Policy.
“Yanis Speaks the truth” Greece is insolvent.
Max Keiser and Stacy Herbert discuss the Greek situation and that a nation is not what it thinks it is but what others attempt to hide about that nation – like the fact that it is bankrupt.
They discuss the role Goldman Sachs played in helping Greece hide its debts and, thus, strapping it to the euro and the mispricing of real risk by well-compensated bond investors lending to Greece at ultra low interest rates.
They also discuss that, while deflated footballs was the main headline on the nightly news in America, a memo was delivered to Obama outlining the various ways that brokers defraud American investors of years worth of retirement income.
Varoufakis has said that Greece wants “a bridging program between now and the end of May, which would give us space – all of us – to carry out these deliberations and in a short space of time come to an agreement.”
However, Dijsselbloem told reporters when asked about Greece’s requests: “We don’t do bridging loans.”
As many have heard by now, the leaders of the so-called BRICS nations – Brazil, India, China, Russia and South Africa – used the occasion of the 6th BRICS Summit in Brasilia, Brazil to announce the creation of the long-awaited BRICS Development Bank. Formally the “New Development Bank,” it will be based in Shanghai and capitalized with an initial $10 billion in cash ($2 billion from each of the five founding members) and $40 billion in guarantees, to be built up to a total of $100 billion.