Of course it does. It’s not that the entire population (nearly) of France is unarmed that’s the issue. It’s not that Western leaders have facilitated a war in Syria which started as a pi–ing match between Russia and the USA over oil/gas transport corridors and then looked the other way while a stream of “refugees” from that war marched into Europe. (Seriously, if you were an ISIS commander, don’t you think you’d have your people marching along with the legitimate refugees?) No,
It seems the emissions scandal which started with Volkswagen now extends to many other car manufacturers, though it does not appear that these manufacturers had “defeat devices” like the VWs.
Some believe that this just shows why it is that there must be an even larger regulatory regime. That throwing more money at the issue, and by hiring more regulators, etc. will solve the problem. It won’t. The problem here is that car makers and regulators were essentially both in on the deal.
And is the US government really finding out about it for the first time?
Dun dun dun…
Between a rock and a hard place.
Could? Well, I suppose so. In the same sense that taking drugs away from an addict is likely to trigger a “drugs crisis.”
If you don’t know, the entire financial world is on tenterhooks right now waiting for the latest declaration from the Federal Reserve, or as David Stockman puts it, the financial politburo. Will they raise rates or won’t they? Look to the skies. Stare into the crystal ball. What will the masters of the universe do?
China down 8.5% FOR THE DAY. Europe down broadly, 3-4% on huge volume. And on Bloomberg everyone is asking, why?
The new China ride?
Why? Because China (just China?) is in deep trouble. Because the Chinese central bank has intervened big time and has failed. The market has overwhelmed a large central bank and that is new.
I’m guessing that there were more than a few meetings at the Federal Reserve over the weekend.
This is a pretty extreme law, particularly for Spain. Did Franco rise from the dead or something?
The last time Europe “unification” was attempted.
Napoleon tried to do it. Hitler tried to do it. Both failed. Europe in the post medieval era has never been fully conquered. Europe has remained multiple states. Given that it is a continent defined by mountain ranges, peninsulas, and islands this makes sense. It is a landmass of cul-de-sacs. It is not a vast plain which is easily overrun. But now the eurocrats (many unelected) are trying to take over Europe via administrative means.
Farage addresses Greek Prime Minister Alexis Tsipras personally on the floor of the European Parliament and encourages the leader, and it appears that Tsipras is a leader, to exit the Eurozone “with (his) head held high.”
Indeed there are many “friends of Greece” around the world. More friends than Goldman Sachs, that’s for sure. Though Goldman’s friends tend to be more powerful.
Greece, pull an Iceland.
See, now that we know what the problems are, getting the whole Greek economic crisis thing under control should be pretty easy.
Mohamed El-Erian says the Greek “no” vote is like this scene from the classic movie Network.
Armageddon? Probably not. End of the euro? Probably not. End of the United States of Europe? Probably not. A moment of reality for world markets which have existed for too long in a fairy land? Very possible.
If nothing else this vote is refreshing. (Easy for us to use such terms.)
How does the Fed get dollars to European banks when said banks run out of dollars in which to do dollar denominated business? Print some new ones, then have the euro banks swap euros for the new dollars. A little of this. A little of that. And presto, mini euro-bailout. (Or maybe not so mini depending on the circumstances.)
So the people will decide. That’s good I suppose. Is the EU about to retreat from its frontiers? Will the Greek people capitulate? What will equity and debt markets do? Which country is next? If you have the answer to any of these questions please feel free to contact me in short order.
Culture is probably a factor here. But this map does not indicate good things. When was the initial crash? 2008? 7 years ago now?
Consider also that in Spain unemployment for those under 30 is running at over 50%.
Oh Liberland, what a great little experiment you are.
Indeed don’t. That would not be wise.