Macro Considerations

The macro picture remains largely unchanged. Janet Yellen is expected to lead the Federal Reserve into a new phase by beginning to taper its long-term asset purchases early next year. The ECB is expect to move in the other direction, leaning against th… [...]

Europe’s Peak Youth Unemployment Gets Peak-er

Despite a ratings ‘upgrade’ Spain’s youth unemployment rate has re-surged to a record 57.4% (just below that of Greece which still tops the scary chart list at 58%). Italy and Portugal also saw notable rises (despite the former’s record low short-dated… [...]

European Unemployment Declines From All Time High, Youth Unemployment Hits Fresh Record – Full Breakdown

Following the “good” news in the inflationary front, in which European November CPI rose and beat expectations if posting the first sub-Japan inflationary rate in Eurozone history, Eurostat followed with more holiday cheer when it reported a surprising… [...]

Venezuela Denies Goldman’s Gold Deal As Inflation Tops 54%

Today’s AM fix was USD 1,241.75, EUR 913.11 and GBP 760.45 per ounce. Yesterday’s AM fix was USD 1,250.75, EUR 923.88 and GBP 773.69 per ounce. Gold fell $4.10 or 0.33% yesterday, closing at $1,236.33/oz. Silver slid $0.17 or 0.86% closing at $19.6… [...]

Exposing The Reality Of The "Too Good To Be True" Greek Budget Myth

Authored by Martin Feldstein, originally posted at Project Syndicate, Recently, newspaper headlines declared that Greece would have a balanced budget for 2013 as a whole. The news came as quite a shock: Recall that when Greek officials came clean about… [...]

Frontrunning: November 27

Winter storm lashes eastern U.S., threatens Thanksgiving travel (Reuters) Fed Reveals New Concerns About Long-Term U.S. Slowdown (BBG) Private equity keeps $789bn of powder dry (FT) – because they are “selling everything that is not nailed down” Merke… [...]

"I Fear For What’s Coming" – 68% Of Americans Believe The Country Is On The Wrong Track

Submitted by Michael Snyder of The Economic Collapse blog, Are you deeply concerned about the future of America?  Is something in your gut telling you that our system is fundamentally broken and that the mainstream media is not telling you the tru… [...]

Meanwhile, In Greece…

The Greek stock market – seemingly unbreakable in its animal spirits that recovery is right around the corner for the increasingly depressed nation – has collapsed over 4% today, its largest plunge in 5 months. Being relatively illiquid, it is not clea… [...]

Half Of New Greek HIV Cases Are Self-Inflicted To Receive €700 Per Month Benefits, Study Finds

When one reads the following stunning, and tragic, excerpt from the World Health Organization’s recent report “Review of social determinants and the health divide in the WHO European Region: final report” what can one say but… Grecovery. From the WHO… [...]

If You’re Poor In Latvia, Move To Denmark

Expenditure on social benefits in the EU fell to 29.1% of GDP in 2011 from 29.7% in 2009, Eurostat said yesterday. However, do not feel too bad for the broad European social state. While France (as one might expect) nears the top of the list with over … [...]