Who is shoring up markets?

So global markets considered the Greek event with a one day sell off. Slight correction and all is well again. China is no longer in correction mode with the Shanghai index gaining more than 5% overnight. The euro strengthened overnight as well against dollar and Puerto Rico’s $72 billion debt bill will be serviced for […]

Where’s the next debt shoe to drop

So Greece is on bank holiday until after the July 5th vote on whether to accept the draconian austerity measures proposed by the Trioka. How can the ECB and the EU state the euro is a reserve currency and allow this to happen in Greece? Zimbabwe and Thailand closed the banks when their 3rd-world currency […]

Greeks are taxing EU patience

The simplest explanation of what is occurring in Greek debt talks is this: Taxes The Greek Finance Minister, Yanis Varoufakis is proposing raising taxes in order to finance the debt. The Trioka say that Greeks don’t pay their taxes so cut benefits and pensions or else we will be back here very soon facing another […]