Archive for May 7th, 2010

The Global Economic Crisis, The Great Depression of the XXI Century

Friday, May 7th, 2010

Preface by Michel Chossudovsky and Andrew Gavin Marshall Global Research May 8, 2010 PREFACE In all major regions of the world, the economic recession is deep-seated, resulting in mass unemployment, the collapse of state social programs and the impoverishment of millions of people. The economic crisis is accompanied by a worldwide process of militarization,... »

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EXTEND & PRETEND: Shifting Risk to the Innocent

Friday, May 7th, 2010

By: Gordon T Long Market Oracle May 07, 2010 Markets never repeat themselves but they often rhyme. This rally feels like the same sonnet we experienced in 1987. As in a sonnet, it is following a strict rhyme scheme and specific structure. In 1987 the rally began gaining steam in the spring when it... »

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Greek Debt Crisis Turns Deadly; Will Governments Act Before Economic Disaster Hits?

Friday, May 7th, 2010

By: Mike Larson Market Oracle May 07, 2010 This week, the financial crisis in Greece turned deadly serious. No longer are investors just losing boatloads of money. People are starting to lose their lives! The latest bout of chaos struck on Wednesday during a general strike. Everyone from air traffic controllers to teachers left... »

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EU Is Collapsing Like Tower Of Babel

Friday, May 7th, 2010

But World Bank and IMF vultures are lying in wait to feed on the remains of Greece Paul Joseph Watson Prison Planet.com Friday, May 7, 2010 Monument Securities Chief Economist Stephen Lewis says the chaos in Greece could lead to collapse of the European Union, bringing down with it the dangerous assumption that structures... »

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Panic Subsides, But for How Long?

Friday, May 7th, 2010

By: Rick Ackerman GoldSeek.com Friday, 7 May 2010 The panic we’ve all been waiting for hit like a tsunami yesterday, sending the Dow Industrials into a thousand-point dive, 700 of it occurring in under ten minutes. We’d warned of this just a few days ago when we wrote that the market was “vulnerable to... »

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Greece Economic Depression: Inflationary Consequences for the European Union-Surge in retail prices

Friday, May 7th, 2010

by Nadeem Walayat Global Research May 6, 2010 Greece, Europe’s Achilles Heel continues to implode under its budget deficit and total debt burden sending a series of strengthening shock waves across Europe’s credit and financial markets. Whilst many western economies bounce back from the Great Recession of 2008-2009, Greece’s economic depression continues as the... »

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Debt crisis: Panic on Wall Street, stonewalling in Europe

Friday, May 7th, 2010

• Weak ECB statement on debt crisis undermines euro • Report of $16bn US trading error adds to market chaos Phillip Inman and Nils Pratley Guardian.co.uk Wall Street was gripped by a fresh panic tonight as fears spread that the Greek debt crisis will trigger a new catastrophe for the fragile global banking system.... »

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Credit Buckles in `Whiff of 2008′ as ECB Lets Athens Burn: Credit Markets

Friday, May 7th, 2010

By Shannon D. Harrington Bloomberg.com May 7 (Bloomberg) — The 13-month rally in credit markets is unraveling as Europe fails to contain its debt crisis. Money markets showed banks may be the most reluctant to lend to each other in six months and a derivatives index used to protect against European bank failures soared... »

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Stocks Tumble on Greek Debt Concern; Bunds Gain, Euro Rallies

Friday, May 7th, 2010

By Mark Gilbert Bloomberg.com May 7 (Bloomberg) — Stocks slumped worldwide on concern Europe’s debt crisis will worsen, while Standard & Poor’s 500 Index futures rallied after U.S. stocks dropped by the most in a year. German bunds gained as investors sought a haven from surging Greek debt yields. The Stoxx Europe 600 Index... »

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Market Drop Fueled by a Crisis, Anxiety and an Error

Friday, May 7th, 2010

By: Floyd Norris CNBC.com Combine one part nervous traders, one part Greek crisis and one part trader error. Stir in one part central bank complacency. Bring to boil. Panic. That combination produced one of the wildest days ever in financial markets, with the Dow Jones industrial average, at one point, down almost 1,000 points... »

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