In a very long piece on former Greek finance minister Yanis Varoufakis in the New Yorker, the former head of the nation’s economy admits to being surprised both by the Greek people’s rejection of an austerity deal and the Prime Minister’s acceptance of one.
Puerto Rico officially defaulted on part of its $73 billion in debt on Monday afternoon, when the U.S. territory only paid $628,000 toward a $58 million debt due by 5 p.m.
SAN JUAN, Puerto Rico, Aug. 3 (UPI) — Puerto Rico paid only $628,000 on a $58 million debt bill due Monday, putting the country into default for the first time.
in his elegant and moving new book, Plunder and Deceit, Mark Levin takes his message to the next generation.
China’s stock market suffered an 8.48% crash on Monday that humiliated the country’s leadership and will almost certainly cause a major Communist Party crisis.
If there’s an 18-year-old in your life — or if you’ve been 18 yourself, in the not-too distant past — you know that credit card invitations start clogging the mailbox right around that magic birthday. And whether you’re a “financial education” specialist or just your average parent, you know one of the first lessons an 18-year-old needs to learn is not to borrow when you don’t have to.
All sorts of deadlines have come and gone during the Greek debt crisis—as the basket-case nation’s European creditors repeatedly blinked and decided to grant one extension after another—unwilling to precipitate the pan-European (and possibly global) financial earthquake of a “Grexit” from the Euro.
The poll found that UK, France, Germany and the Netherlands appear to view the perception of Greece more negatively due to the current situation. However, the study showed countries that were more impacted by the economic crisis across Europe had a less negative opinion of Greece as a tourist destination.
In her first interview since her husband, Dr. Ben Carson, announced he is running for president, Candy Carson talked to Breitbart News exclusively about their wedding anniversary, family, and faith, but she also stressed how critical it is for Americans to get out there and vote as well as educate themselves on the issues to hold their Congressmen accountable.
As Greece breaks apart on the rocky shores of the European Union, the man who did so much to run his nation’s finances aground has decided to call it quits. The New York Times sees the sudden resignation of “combative” Finance Minister Yanis Varoufakis as a gesture of “conciliation” between the socialist Syriza government and a thoroughly fed-up European Union, but it might be premature to talk about Greece making peace with its creditors.
Puerto Rico’s governor said that the U.S. territory was in a “death spiral” and may default on the $72 billion debt it has accrued. “Even if we raise revenues and cut costs, the magnitude of the problem is such that we would not resolve anything given the weight of the debt we’re dragging,” the Democratic governor, Garcia Padilla, said in a public address.
SAN JUAN, Puerto Rico (AP) — The governor warned that Puerto Rico can’t pay its $72 billion public debt as international economists released a critical report Monday on the island’s economy.
Former Texas Governor and Republican presidential candidate Rick Perry dubbed the US debt “immoral” in an interview with Fox News Channel host Greta Van Susteren released on Monday. Perry began by touting his economic record as Governor of Texas and
The long standoff between intransigent Greek socialists and their increasingly exasperated creditors appears to be reaching an end, judging by the commentary after an International Monetary Fund meeting this week. It sounds as if the Greeks are running out of cards to play.
On July 30, 1965, President Lyndon Johnson signed Medicare into law and enrolled former President Harry Truman as its first beneficiary. But today, federal unfunded liabilities are catastrophic for future taxpayers and economic growth. The US Debt Clock lists federal unfunded liabilities at $97 trillion. That equals about $818 thousand per taxpayer; about three times average U.S. net worth; and 131 percent of world GDP.
The Group of Seven (G7) kicked off its annual summit this week with the situations in Ukraine and Greece on top of the agenda. President Barack Obama and German Chancellor Angela Merkel met privately on Sunday to hammer out details about the two countries.
PORT-AU-PRINCE, Haiti (AP)– French leader Francois Hollande on Tuesday will make the second visit ever by a sitting president of France to its once prized possession of Haiti, where bountiful resources and brutal plantation slavery made it the European nation’s most profitable colony some 250 years ago.
David Rosenberg, former Chief Economist for Merrill Lynch, recently made the comment that the current global interest rates, at below 2 percent, have only been this low once or twice in the last 500 years. The globalization cycle over the last two decades pushed up total world debt to $223.3 trillion, over three times the world GDP of about $75 trillion. But the current low rates indicate that individuals and corporations no longer have the moral willingness to take on more debt.
Days after being pulled back from leading the Greek diplomatic team in talks with the European Union regarding the nation’s astronomical debt, Greek Finance Minister Yanis Varoufakis and his wife, Danae Stratou, were the victims of an anarchist mob attack while dining out.
Bloomberg Business understandably sees all sorts of signals in Greece’s decision to pull Finance Minister Yanis Varoufakis back from bailout negotiations, a move it describes as “clipping Varoufakis’ wings” and “reining him in” after three months of debt talks failed to produce an agreement.
Americans are routinely told not to worry about how much of our titanic national debt is held by foreigners, but those who do keep track of such things may be relieved to know that our current number-one creditor, our totalitarian geopolitical adversary China, has been surpassed by our considerably less hostile ally Japan. Each of those nations holds a little over 10 percent of America’s debt.
Leftist Greek Prime Minister Alexis Tsipras, during a visit with German Chancellor Angela Merkel in Berlin, raised the issue of Greece receiving war reparations for the damage the Nazis did to the country in World War II. Despite Merkel’s rapid dismissal of the possibility, the two appeared cordial and friendly during their public press event leading up to a reception dinner.
Texas Governor Greg Abbott delivered his first State of the State Address to a joint session of the Texas Legislature and a packed gallery in the Texas House Chamber. During his address, the new governor laid out his agenda for
Mort Zuckerman, Editor-in-Chief and publisher of the New York Daily News and US News and World Report Chairman, declared that the US national debt would create “a real crisis” on Friday’s “McLaughlin Group.” Zuckerman started by saying there was “some truth” to
European finance ministers worried that Greece’s new far-left government would renege on the terms of previous bailout packages, while demanding even more debt to finance wild new spending programs, were given fresh reason for concern when the new Greek finance minister announced his government would not negotiate bailout terms with the European Union or International Monetary Fund.
Perhaps Greece’s new far-left government will rethink its plans to shake Europe down for cash to fund its wild spending binges, now that the German economy has officially entered a deflationary cycle, as reported by Business Insider
Americans who haven’t been paying much attention to the collapse of Greek socialism have been missing a very instructive lesson in where their own country may be heading, for Greece is the end stage of Obama-style debt-fueled dependency politics. It could happen in America, too, most likely beginning with demands for huge federal bailouts by bankrupt Democrat-run basket case state governments.
