Hard hitting global and local news
See the article here: Chicago PMI Unexpectedly Crashes: New Orders, Production and Employment Down by More Than 10%
The ECB is attempting to stem the flow by not upping emergency liquidity assistance (ELA) as noted yesterday in Run on Greek Banks Accelerates; ECB Halts Emergency Funding Hike; Untangling the Lies Everyone Prepared? When the ECB and Germany say they are prepared for Grexit, do they include taxpayers who will have to foot the bill for default? My friend Lars from Norway pinged me with this observation today…
CNBC reports Greek Bank Outflows Accelerate, Reached 5 Billion Euros in April . Greek banks have seen deposit outflows accelerate over the past week as fears rise that the euro zone country will default on debt, two banking sources said on Wednesday. The spike follows a steady outflow of money from Greek lenders this year as Athens and its creditors struggle to agree an aid-for-reforms deal before Greece runs out of money
Read More: Livestream of Rand Paul "Unleashing the American Dream" 12:45 PM Central
See the original post: Robo-Journalism Will Produce 1 Billion Web Stories in 2015 (This Isn’t One of Them); McJournalism Coming…
Regional Manufacturing Comparative Wrap-Up: Empire State, Philly, Kansas City, Richmond, Dallas Posted by Michael Shedlock at 2:49 PM Disclaimer: The content on this site is provided as general information only and should not be taken as investment advice. All site content, including advertisements, shall not be construed as a recommendation to buy or sell any security or financial instrument, or to participate in any particular trading or investment strategy.
Please consider PP Suffers Heavy Regional Losses . Spain’s ruling Popular party suffered heavy losses in Sunday’s string of regional and local elections, as two upstart movements made dramatic gains at the expense of the country’s established parties. The PP still emerged as the biggest party in nine of the 13 regional contests, but its ability to head governments at both the regional and local level was severely curtailed.
The Telegraph reports Greece to Miss IMF payments Amid Fears of ‘Catastrophic’ Eurozone Rupture . Finance minister [Yanis Varoufakis] said that the Syriza-led Greek government has now “made enormous strides at reaching a dealâ€, and that it is now up to the ECB, IMF and EU “to do their bit†and “meet us one-quarter of the wayâ€. One possible alternative if talks do not progress is that Greece would leave the common currency and return to the drachma.
Continue reading here: Yellen Yap: Point by Point Rebuttal