DEBTOR NATION

VIDEOS

Wolf Richter On The Keiser Report
"Debtonomics and the NSA"

Wolf Richter on the Keiser Report
"Where Is The Fear"

Wolf Richter on Max Keiser's "On The Edge" 
"The Pauperization of America"

Wolf Richter on the Keiser Report
"Where the Money Goes to Die"

Clarke and Dawe: European Debt Crisis
Two favorite Australian Comedians

Clarke and Dawe: Quantitative Easing
Big industrial-strength printers, all facing the window

The Fastest Drive Ever Through San Francisco
Don't try to do this yourself
 

humanERROR - by "Frying Dutchman"
Powerful, lyrical appeal to the Japanese. Slams nuke industry, MSM, bureaucrats, and politicians.

Entries in Euro (164)

Tuesday
Apr082014

Head of EU’s Newfangled Bank Regulator: Markets Are Dumb, Pumps Stocks Of Teetering Banks To Keep them From Toppling

It's not often that a bank regulator proclaims stocks of teetering banks are undervalued because markets are too dumb to value them correctly. That’s what Danièle Nouy, chair of the ECB’s Single Supervisory Mechanism just proclaimed. She has a motive.

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Saturday
Feb082014

German High Court Blows Up Euro, Says ‘Oh Wait,’ Abdicates

The ECB’s money-printing and bond-buying promise, lovingly dubbed Outright Monetary Transactions, became the bailing wire and duct tape that has kept the Eurozone together to this day. Turns out, it’s illegal under the EU treaties and unconstitutional in Germany.

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Saturday
Dec212013

This Ends In A "Planned Economy" – Bundesbank President

When Jens Weidmann, President of the emasculated Bundesbank, speaks, central bankers and money printers worldwide stuff wax into their ears. “Caution,” he started out, “the euro crisis is far from over.” Then he committed central-bank heresy.

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Sunday
Nov242013

French Megabank: “Germany Should Leave The Eurozone”

Suddenly, there’s a solution to France’s economic crisis. Unlike the cacophonous clamor from the far right to drop the euro, this one is attractively presented with graphs and in terms that even a French politician might understand. And it’s not contaminated by partisanship.

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Tuesday
Oct222013

France Clamors for Currency War, Bundesbank Warns Of Housing Bubble

The euro, its dexterous management, the “whatever-it-takes” guarantees by ECB President Draghi, the trillions being shifted around to prop up banks and governments – all these efforts to keep the Eurozone duct-taped together have hit countries differently. Including France and Germany. They’re shooting at each other now, and hitting the ECB.

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Wednesday
Aug282013

German Election Finally Gets Messy: “Euro Is More Than A Currency” And Greece “Shouldn’t Have Been Allowed In”

No debacle is allowed to interfere with Chancellor Merkel’s efforts to hang on to her job, and debacles get swept under the rug at least until after the elections on September 22. Every time uppity opposition voices stir up some controversy, it’s brushed off, denied, ridiculed, or minimized – and it has worked admirably well so far. But suddenly there’s Greece again.

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Tuesday
Jun112013

Germany Grapples (Again) With The Choice Between Its Constitution And The Euro

During the hearings before the German Constitutional Court, Finance Minister Schäuble, perhaps unwittingly, put his finger on yet another fatal flaw of the Eurozone: a central bank that could bail out speculators and pile the resulting losses on taxpayers of other countries, no questions asked, whenever it felt like it, without controls – “to save the euro,” as it were.

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Thursday
May162013

'ECB's Desperation Is Taking On Epic Dimensions' 

In my interview with Voice of Russia, I talk about the ECB's fears for its own existence. I use Spain, which is stuck in an existential crisis, as an example of the greatest “achievement” of central banks: the separation of economic reality from stock markets. And I get a chance to lambaste the French finance minister who is once again barking up the wrong tree.

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Wednesday
May152013

Germany 'Second Economic Miracle' And Other Psychedelic Feats

At first blush, the German economy appears to be ailing – at first blush because the stock market, in its omniscient manner, is predicting wondrous developments as it hop-scotches from one all-time high to the next. This relentless optimism has morphed into a breeding ground for projections into outright magnificence. But inconvenient data is getting in the way.

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Saturday
Apr272013

Spain Loses Faith, But Rediscovers Reality

Contributed by Don Quijones: It is as if the youngest democracy in Western Europe has lost its youthful innocence. After the betrayal of so many hopes and promises, reality is dawning on the people that neither democracy nor EU membership quite are the panacea they were cracked up to be.

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Thursday
Apr252013

The Spanish Unemployment Powder Keg

Austerity succeeded in trimming the bloated government sector. But instead of picking up the slack, the private sector destroyed jobs almost four times faster! The hope is that this fiasco will finally reverse course, that something will click and start a virtuous cycle before the unspeakable happens. But so far, it has relentlessly gotten worse.

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Tuesday
Apr232013

Germany’s Trial Balloon Of A “Plan B”

Those close to the epicenter of power, those near Chancellor Merkel, have to toe the line on the euro – it’s far more than just a currency, it’s a sacred concept worth saving no matter what the costs. While the possibility of a small country's exit from the euro has been accepted, the euro itself has been inviolable in those circles. Until now. An insider offered a "Plan B"; and the euro’s life is limited to five years!

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Friday
Apr122013

The Gloriously Ballooning Bailout Bedlam Of Cyprus

The average Cypriot household had a phenomenal net worth of €670,900 in 2010 – over three times that of German households. That wealth had been sucked out of the cesspool of corruption that the banks and the government were, until neither had a drop of lifeblood left. Now the party is over. And you can almost hear the snickering among European politicians.

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Tuesday
Apr022013

A Line Of Demarcation Through The Eurozone Is Taking Shape

Everyone learned a lesson from the “bail-in” of Cypriot banks: Russians who’d laundered their money there; bondholders who’d thought they’d always get bailed out; Cypriot politicians whose names showed up on lists of loans that had been forgiven; even Finance Minister Sarris. His lesson: when a cesspool of corruption blows up, no one is safe. And German politicians learned a lesson too: that it worked!

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Wednesday
Mar272013

The Stunning Differences in European Costs of Labor: Or Why “Competitiveness” Is A Beggar-Thy-Neighbor Strategy

The ominous term “competiveness” is bandied about as the real issue, the one causing Eurozone countries to sink deeper into their fiasco. To address it, “structural reforms,” or austerity, have been invoked regardless of how much blood might stain the streets. And a core element of these structural reforms is bringing down the cost of labor.

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Monday
Mar252013

Cyprus And The Eurozone Bank Bailout Hypocrisy

Cyprus didn’t prick the Eurozone bailout bubble, the notion that bank investors who took enormous risks to gain financial rewards would always be made whole by taxpayers. That bubble had already been pricked in February. But it was the first time that the international bailout cabal, the Troika, stuck its needle into it—while Germany quietly bailed out all investors in one of its own rotten banks.

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Saturday
Mar162013

IMF: Eurozone Banks Are In Trouble, Trample Taxpayers and Democracy To Bail Them Out!

Why is it that 17 nations have to fundamentally reorganize themselves and shift sovereignty away from national parliaments to new layers of transnational, beyond-control bureaucracies that can extract untold wealth from taxpayers—just to save the banks?

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Tuesday
Mar122013

Is The End Of The ‘Coercive Euro Association’ Taking Shape In Germany?

Anti-euro movements have been squashed by political establishments across the Eurozone. Then Italy happened. Two anti-austerity parties captured over half the vote and threw the status quo into chaos. It stoked a fire in Germany where Chancellor Merkel’s bailout policies have hit resistance. Now the heat is on to dissolve the “coercive euro association.”

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Sunday
Mar102013

The Ultimate Threat In The Euro Bailout and Austerity Racket: War

There have been waves of threats by Eurozone politicians to bully people into accepting “whatever it takes” to keep the shaky construct of the monetary union glued together. These threats peaked last year with disorderly default, and when that wasn’t enough, with the collapse of the Eurozone. But now, the ultimate threat has been pronounced: war.

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Friday
Mar082013

A “Politically Explosive” Secret: Italians Are Over Twice As Wealthy As Germans

The ECB and the national central banks of the Eurozone set out to collect “micro-level information” on household wealth. A massive bureaucratic undertaking. Surveys went out in 2010. Results are now ready. No one in Europe had ever done a survey on that scale before. And no one might ever do it again. Because, in the era of bailouts, the results are so explosive that the Bundesbank is keeping its report secret—and word has leaked out why.

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