Greece misses deficit target as bailout deadline looms

Cash-strapped Greece fell well short of its budget deficit reduction targets last year, official figures showed Wednesday in a development that’s likely to add pressure on the radical left-led government during tortuous talks with bailout creditors.

The country’s statistical authority … Read the rest

The neoconservative threat to international relations

This week I was invited to address an important conference of the Russian Academy of Sciences in Moscow. Scholars from Russia and from around the world, Russian government officials, and the Russian people seek an answer as to why Washington … Read the rest

Whatever became of economists and the American economy?

According to the official economic fairy tale, the US economy has been in recovery since June 2009.

This fairy tale supports America’s image as the safe haven, an image that keeps the dollar up, the stock market up, and interest … Read the rest

Will Russia remonetize in gold?

The “perfect-storm” of geopolitical instability, diplomatic isolation, severe currency depreciation, and economic decline now confronting Russia has profoundly damaged Moscow’s international standing, and possibly for the long-term.

Yet, it is precisely such conditions that may push the country’s leadership into … Read the rest

Russia dumping dollars to protect currency and falling oil prices

As the United States expands its proxy war against Russia and the BRICS nations through a newly discovered secret deal with Saudi Arabia to force down global oil prices, Russia is firing back to this monetary attack against their currency … Read the rest

American student loan debt at $1,2 trillion, could dampen economy

Economists and debt watchers are worried that the burden of $1.2 trillion in student loan debt will stifle the broader economy while keeping the younger generation from buying homes and getting married.

The Federal Reserve said in its consumer credit … Read the rest

China, Argentina agree on currency swap

Argentina, which defaulted on its debt in July, will receive the first tranche of a multi-billion dollar currency swap operation with China’s central bank before the end of this year, the South American country’s La Nacion newspaper reported on Sunday.… Read the rest

What happened in Argentina

By Jérome Duval, Fatima Fafatale.

The vulture fund NML Capital that, together with others, has Argentina on the edge of suspending payments, is already devouring the rotting flesh of the Spanish market. Elliott Management, the opportunistic fund of the serial … Read the rest

By Jérome Duval, Fatima Fafatale.

The vulture fund NML Capital that, together with others, has Argentina on the edge of suspending payments, is already devouring the rotting flesh of the Spanish market. Elliott Management, the opportunistic fund of the serial … Read the rest

BRICS puncture credit bubbles risking deflationary shock

bartdrunkHalf the world economy is one accident away from a deflation trap. The International Monetary Fund says the probability may now be as high as 20pc.

It is a remarkable state of affairs that the G2 monetary superpowers – the … Read the rest