Archive for November 5th, 2011

European leaders watch nervously as embattled premier tries to find allies and avoid being thrown out of the eurozone Helena Smith and Tom Kington Guardian.co.uk Saturday 5 November 2011 Politicians in Greece were engaged in frantic negotiations to form a government of “national salvation” on Saturday in a desperate bid to prevent debt-stricken Athens... »

IMF to monitor Italy to ensure austerity as leaders fail to agree plan for financial aid for distressed countries Patrick Wintour and Larry Elliott in Cannes The Guardian A world recession has drawn closer after a fractious G20 summit failed to agree fresh financial help for distressed countries and debt-ridden Italy was forced to... »

Greece needs a government that can reassure people it is staying in the Eurozone, says Eva Kaili, a key politician who has stopped backing prime minister George Papandreou. By Harriet Alexander, Athens TelegraphUK 05 Nov 2011 The stage was set for the final act. Crowds gathered outside the seat of power, waiting, after a... »

by Phoenix Capital Research ZeroHedge.com 11/05/2011 Thus far, my analysis of Europe has focused on the super-leveraged banking system (26 to 1). At these levels, even a 4% drop in asset prices wipes out equity. That alone warrants concerns of systemic risk. The situation is not much better at non-Financial European corporations. Indeed, the... »

by CanSpeccy PoorRichardsBlog.com SATURDAY, NOVEMBER 5, 2011 To understand how the American empire works, one needs to know three things. First, asVitali and colleagues at Einstein’s alma mater — the ETH in Zurich Switzerland — demonstrate in a highly technical arxiv.org publication, a few dozen mostly financial corporations have direct or indirect control over... »

The Extinction Protocol November 5, 2011 NEW DELHI – China continues to deploy four new nuclear capable ballistic missiles, including one that can be launched from submarines (SLBM), causing fear among its neighbors and the US, says a latest report by Federation of American Scientists. This, coupled with Beijing’s reluctance to define its minimum... »

by Donald Marron DMarron.com November 5, 2011 The risk of social unrest is on the rise around much of the world, according to polling data summarized in the International Labour Organization’s latest World of Work Report (ht: Tortsen Slok). The ILO estimates that the risk of unrest has risen the most in advanced economies... »

LoneStarWatchdog.com Saturday, November 5, 2011 It is appalling to see our government on a daily basis to see the government thumb their nose at us and insult our intelligence everyday. While government is forming policies to get into our personal space monitoring our bank accounts, our emails, and our phone calls. They want to... »

by Charles Hugh Smith ZeroHedge.com 11/05/2011 We are being throttled by the Big Lie: we’re told that if the predatory financial system implodes, we’ll all be ruined. The opposite is true: the only way to save our economy is to let the corrupt, pathological and flawed financial system implode. I was recently challenged by... »

Grassroots refusal to put up with austerity is quickly gaining momentum, as people give up on mainstream politics Hara Kouki and Antonis Vradis Guardian.co.uk In early October, a peculiar news item barely made its way into the back pages of Greek national press: in the northern city of Veria, a small group of people... »