Hard hitting global and local news
In another interview from the Wine Country Conference, Chris Martenson says S&P 500 May Fall More Than 40% By Fall . Even though the S&P 500 and Dow Jones Industrial Average are hovering at all-time highs, Chris Martenson, author of PeakProsperity.com and the “Crash Course” Series, is forecasting a major market correction
Whether out of complete stupidity or pressure from the IMF or Brussels (I suspect all three) Cyprus to sell around 400 mln euros worth of gold to partially fund its bailout. Cyprus has agreed to sell excess gold reserves to raise around 400 million euros and help finance its part of its bailout, an assessment of Cypriot financing needs prepared by the European Commission showed.
Slovenia Rules Out Bailout; Translation: "Slovenia Bailout Coming Right Up" An official denial is in: Slovenia Rules Out Bailout . Here is my interpretation: "A bailout is already in the works, only the date of the announcement is uncertain".
Yahoo! Finance presents another video interview from the Wine Country Conference. This one is an interview of John Hussman by Lauren Lyster: U.S.
Euro-Skepticism was Thatcher’s Most Relevant Legacy; Had Europe Only Listened Margaret Thatcher, former UK prime minister died on Monday.
Michael Pettis Interview with Lauren Lyster: Decade of Slower Growth for China Here is an interview of Michael Pettis by Lauren Lyster from the Wine Country Conference. Pettis says China faces a decade of slower growth
Tweet My general view both in general and as a policymaker in my small local-office pond is that a widely held (few expert dissenters) and strongly held (high confidence) consensus position might as well be a fact as far as the policymaking is concerned . A contradictory study is just that, a study. If it turns out to be accurate, then the consensus will eventually fracture soon enough and create problems for policymakers, but there’s no need or even a rational way for policymaking to jump the gun
Read More: Jim Chanos on Daily Ticker: Stay Away From U.S. Tech Firms
View article: Germany’s Net Foreign Assets Exceed €1 Trillion; 10 Compete Failures of the Eurozone
See the original article here: EU Warns Portugal on Austerity Measures; Portugal Faces Fresh Spending Cuts; Second Bailout Coming Up