Hard hitting global and local news
Spain Predicts 4.3% Increase in Tax Revenues, Actual Results are 3.5% Drop; Proposed "Solution" is More Tax Hikes Spain has been devastated by round after round of tax hikes.
For example, a Google-translated headline on Welt Online reads ECB chief demonstrates German banker .
Originally posted here: Part II – Robots to Rule the World? Taking All Jobs? Replace Women?
No one should be surprised to learn Greek Shortfall Growing Ever Larger Athens has not been having an easy time coming up with the €11.5 billion in cost cutting measures over the next two years it has promised Europe. Indeed, Greek Prime Minister Antonis Samaras is reportedly set to request an additional two years to make those cuts during meetings later this week with German Chancellor Angela Merkel on Friday and French President François Hollande on Saturday. But according to information obtained by SPIEGEL, the financing gap his country faces could be even greater.
Original post: New York City Jobs: Striking Divergence in Household Survey vs. Establishment Survey
The Eurozone Cannot Possibly Survive Intact.
Excerpt from: Labor Department $100 Million Giveaway to Stop State Layoffs
Pettis on Debt, Currency Wars, Commodity Prices and Capital Flight; China FDI Contracts 8.7% YoY, 8th Drop in 9 Months The much-denied hard landing in China is now underway with weakening data everywhere one looks.
More here: Is Italy Following the Footsteps of Greece? Does Italy or Germany Exit the Eurozone First?
Please consider this news headline which I openly mock: Expert says bankruptcy for Syracuse is unlikely, but mayor should explore option While the financial situation in the city of Syracuse hasn’t been described as desperate yet, Mayor Stephanie Miner has asked for some legal expertise on municipal bankruptcy. The signs of the city’s financial problems have been evident for several years as city employees accept wage freezes and fire and police departments see staff reductions. The city will use an early payment from Albany to help keep the budget from dipping into dwindling reserves.