Hard hitting global and local news
To the surprise of eurozone leaders, Greece showed up without a proposal. Nonetheless, Greece poised to offer new proposal for third bailout
The Guardian discusses practical math in With a Return to the Drachma Unwanted, Could Greece Just Print its Own Euros? It is certainly physically capable of doing so: the Greek central bank owns a press in Holargos, a suburb of Athens, that once printed drachma and is currently one of 14 high-security currency printing works across the eurozone producing euro banknotes. But actually going ahead and printing unauthorised notes would amount to a declaration of war on the European Central Bank.
Please consider TransAsia Crash Pilot Pulled Wrong Throttle, Shut Down Sole Working Engine . The captain of a TransAsia Airways ATR mistakenly switched off the plane’s only working engine seconds before it crashed in February, killing 43 people, Taiwan’s Aviation Safety Council (ASC) said in its latest report on Thursday. The ASC’s report also showed that Captain Liao Jian-zong, who was at the controls, had failed simulator training in May 2014, in part because he had insufficient knowledge of how to deal with an engine flame-out on take-off
Housing Starts Decline 11.1%, Underperform Economists’ Expectations, Still Labeled "Solid"; GDPNowcast Ticks Down 0.1% Housing starts underperformed the Bloomberg Econoday Economists’ Consensus Estimate enough for the Atlanta Fed GDPNow Forecast to give back the 0.1% it gained yesterday, yet the report is still considered "solid". Don’t let the headline fool you, the housing starts & permits report points to solid strength for the housing sector.
See the original post: Shifting Sentiment in Spain: 2011 vs. 2015; Could an Anti-Euro Party Win the 2015 Spanish National…
View article: No Rebound in Manufacturing: "Surprisingly Weak" Industrial Production Numbers; How Long Can Auto Sales Hold Up?
See the original post: Greece Walks Out After 45 Minutes, Talks Collapse; Default Math: Who Foots the Bill? How Much?
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Final Forced Exchange Rate: 175 Quadrillion Zimbabwean Dollars (175,000 Trillion) = $5.00 For bank account holders in Zimbabwe, the government will do a forced exchange of Zimbabwean dollars to US dollars at the rate 175 Quadrillion Zimbabwean Dollars Per $5.00 . The Zimbabwean dollar will be taken from circulation, formalizing a multi-currency system introduced in 2009 to help stem inflation and stabilize the economy
Read more here: Steen Jakobsen: US Credit Cycle Peaked, Zero Growth Coming to Europe, Gold 1425 by Year End