Hard hitting global and local news
Original post: SYRIZA Surges in Greek Polls, Would Win Election if Held Today; Message People Want to Hear; Contagion Guarantee
Greece Will Default in May Without Another Bailout or Change in Terms Cash flow analysis shows Greece is in serious trouble again in spite of having a current account surplus. Specifically, Greece needs a change in payback terms or another bailout or it will default in August, if not May. I use the words "will default" imprecisely.
Via translation from La Vanguardia, please consider Bank Defaults Hit Record 13% in November . Delinquency ratio of banks, savings banks, cooperatives and credit institutions operating in Spain rose again in November to 13.08%, a level not seen since the data began to be collected, over 50 years
Earlier today, President Obama gave a long-awaited and long-winded speech on the NSA. The Washington Post has the transcript . Here are my thoughts: Obama says we need more "balance" between security and liberty.
Continue reading here: Canada Housing Bubble: Far Too Late for Warnings; Rule of Predictions
Read More: Thailand: "Men in Black" Terrorists Uncovered After Broad Daylight Grenade Attack
View article: Andrew Dessler’s Testimony to the Senate
Read the original post: Christine Lagarde Warns of Lord Voldemort, Hopes to Put Deflation Ogre in a Bottle
Via translation from El Economista please consider Most of the public debt held by banks not penalized in the stress test . What looked like was going to be a strict stance of the European Central Bank (ECB) regarding sovereign debt portfolios of financial institutions, is not so
Excerpt from: Nathan Drake vs., Steve McIntyre on the Spirit of Mawson Matter