Submitted by Michael Shedlock via MishTalk.com,
Greece remains in an economic depression interrupted by a few quarters of anemic growth.
Hiking taxes in a depression is one of the stupidest thing one can do, but Greece is set for another vote to do just that.
Prime minister Alexis Tsipras is once again prepared to kiss German Chancellor Angela Merkel’s behind, and his party will likely go along for the ride.
Submitted by Michael Shedlock via MishTalk.com,
Irreconcilable Positions
Greece owes the Troika over €11 billion in bailout repayments through the end of July. Greece is unable make those payments unless the Troika releases the funds.
Position 1: “We need a big debt restructuring, no more kicking the can,” says Greece’s Minister of State.
Submitted by Mike Krieger via Liberty Blitzkrieg blog,
Earlier this week, Ryan Grim and Paul Blumenthal published a blockbuster piece in the Huffington Post, titled: The Vultures’ Vultures: How A New Hedge-Fund Strategy Is Corrupting Washington.
The International Monetary Fund is warning that a vote to leave the European Union next month could prompt a stock market crash and steep fall in house prices. Christine Lagarde, the IMF managing director and the Bank of England governor Mark Carney also warn that Britain could fall into recession following a Brexit vote. All that’s on top of the world war that British prime minister David Cameron has warned about should Britain decide to leave the EU… Brexit fear mongering? or are we really doomed if we vote ‘out’?
In January, the International Monetary Fund (IMF) told us that Venezuela’s annual inflation rate would hit 720 percent by the end of the year. The IMF’s World Economic Outlook, which was published in April, stuck with the 720 percent inflation forecast. What the IMF failed to do is tell us how they arrived at the forecast. Never mind. The press has repeated the 720 percent inflation forecast ad nauseam.