Hard hitting global and local news
Hard hitting global and local news
Lessons from Carolina: Paying People to Not Work is Losing Policy, Tax Cuts and Reforms do Work In 2013, North Carolina figured out paying people to not work is a losing policy.
Yet moments ago, the Financial Times reported Greece to Delay IMF Repayment as Tsipras Faces Backlash . Greece has notified the International Monetary Fund that it will not make a scheduled €300m loan repayment on Friday after opposition to a bailout compromise with creditors erupted inside the governing party.
View article: Global Bond Rout in Pictures: Draghi Says "Get Used to Higher Volatility"
Taken from: Bernanke Blames Congress for US Losing Marbles to China; Battle Over Symbolism
Read the article: Default and Get it Over With; Stop the Needless Torture
Mish-modified translation from Libre Mercado … Renting an apartment in Venezuela is impossible mission. Supply is tight and prices exorbitant, quite inaccessible to the vast majority of the population thanks to the 2011 Law Against Eviction and Arbitrary Unemployment.
See original article: Introducing the Zero Labor Factory (90% Free Actually); Robots at Chili’s, Applebees, Panera
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