Hard hitting global and local news
Hard hitting global and local news
Please see Target2 and the ELA (Emergency Liquidity Assistance) program; Reader From Europe Asks "Can You Please Explain Target2?" for a more compete description. There is much misinformation floating around on how Target 2 works, what Germany’s liabilities are, so please click on the above link if you are interested in target 2 balances. The following chart from PIMCO article TARGET2: A Channel for Europe’s Capital Flight shows the capital flight through March
Link: Voters From Both Parties Overwhelmingly Support Big Defense Cuts
The higher the tax rate, the greater the length people will go to avoid it. France is a case in point. An ‘Exodus’ of Wealthy is underway even before French parliament has passed Hollande’s proposed top tax rate of 75%.
What Role Does Government Play in Price Inflation?
