Hard hitting global and local news
Visit link: France Criticizes European Commission as "Totally Useless", Wants More Time on Budget Deficits
Originally posted here: Damn the Bubbles, More Printing Ahead; Property Bubbles and the Perils of Easy Money
China Accelerates Bad Debt Writeoffs; Reflections on "Policies to Counter Economic Volatility" Financial stress related to Ponzi financing and other bad debts in China is readily visible in numerous places. One result is China’s Big Banks Double Bad-Loan Write-Offs . China’s biggest banks more than doubled the level of bad loans they wrote off last year, in a sign that financial strains are mounting as growth in the world’s second-largest economy slows.
Via translation from Libre Mercado please consider Spain’s Budget Deficit Only Two Tenths Lower in 2013 Despite Massive Tax Increase . Spain’s budget deficit fell from 6.84% of GDP in 2012 to 6.62% of GDP last year. The budget goal was far less ambitious than previous, but still did not met the commitment to Brussels.
Read more here: Reader Question on Banking System Insolvency, QE, and "Necessity"
Taken from: McCain Wants More Weapons Delivered to Al Qaeda Rebels; How Do Warmongers Get Elected?
More here: Are You Minding the Curves? Sweet Spot is Likely Not Where You Think
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