Five top Samsung execs, including the boss, have just been indicted; major shake-up announced. Yet this is what Samsung is sending out pic.twitter.com/CWfePDseAS— Anna Fifield (@annafifield) February 28, 2017
Loans and Finance
Tuesday, February 28, 2017
Monday, February 27, 2017
“I think what people are missing is this date, March 15th 2017. That’s the day that this debt ceiling holiday that Obama and Boehner put together right before the last election in October of 2015. That holiday expires. The debt ceiling will freeze in at $20 trillion. It will then be law. It will be a hard stop. The Treasury will have roughly $200 billion in cash.
We are burning cash at a $75 billion a month rate. By summer, they will be out of cash. Then we will be in the mother of all debt ceiling crises.
Everything will grind to a halt. I think we will have a government shutdown. There will not be Obama Care repeal and replace. There will be no tax cut. There will be no infrastructure stimulus. There will be just one giant fiscal bloodbath over a debt ceiling that has to be increased and no one wants to vote for.”
Friday, February 24, 2017
That is wishful thinking in the extreme. The Quadriga will move heaven and earth, and allow Greece to suffer whatever it takes, in order to safeguard the loans made to Greece to date.
Thursday, February 23, 2017
1 Encourage supermarkets to open out of town.
2 Impose greedy business rate increases.
3 Impose parking enforcement zones.
Kudos to councils and the government for following this above steps to the letter!
Tuesday, February 21, 2017
However, what the Europhiles are ignoring in their celebration is the fact that the creditors are in no rush and don't expect any meaningful conclusion (one way or another) before summer.
One way or another Greece will sink the euro ship of state.
Monday, February 20, 2017
Wednesday, February 15, 2017
Friday, February 10, 2017
A meeting between the lenders and Greek officials is scheduled for later today, the head of euro zone finance ministers Jeroen Dijsselbloem said in The Hague.
"There is agreement to present a united front to the Greeks," the eurozone official said, adding that the outcome of Friday's meeting with the Greeks was still unclear and it was unclear if Athens would accept the proposals.
I think it fair to say that if the IMF and Eurozone really have come to a common stance, then Greece will not like it!
Manufacturing grew strongly Q4, up 1.2% from the previous Q3 -- stronger than poll of economists suggested.— Andrew Neil (@afneil) February 10, 2017
Industrial output rose 1.1% in Dec, stronger than expected 0.2% increase in Reuters poll. Year-on-year growth 4.3%, best since Jan '11— Andrew Neil (@afneil) February 10, 2017
Construction grew by more than expected 1.8% in Dec (v Nov), helped by building of houses/commercial property. ONS keeps Q4 GDP at +0.6%— Andrew Neil (@afneil) February 10, 2017
British exports to non-EU countries rose 17.3% in Q4. Exports to EU rose 3.5%. Trade balance has narrowed.— Andrew Neil (@afneil) February 10, 2017
So much for Project Fear!
Thursday, February 09, 2017
As per Zerohedge:
“If the [IMF] will not participate in a new bailout that does not include substantial debt relief, and that’s what they are saying, then that, more or less, ensures a collision course with eurozone creditors.Suffice to say the EU doesn't want to hear defeatist talk like this, and is collectively whining at full pitch about Malloch's appointment!
Now we all know that primarily [puts pressure on] Germany, which remains opposed to any such actions, so I think it suggests that Greece might have to sever ties and do Grexit and exit the euro."
Wednesday, February 08, 2017
This oncoming explosion existentially threatens the eurozone itself.
The solution according to the IMF is debt forgiveness.
However, as noted many times before on this site, neither Germany nor the other members of the Quadriga (sans IMF) have forgiveness in their hearts.
Jeroen Dijsselbloem, the Eurogroup President repeated the mantra saying there would be no Greek debt forgiveness and dismissing the IMF assessment of Greece’s growth prospects as overly pessimistic.
This will not end well!
Tuesday, February 07, 2017
Thursday, February 02, 2017
One such issue being the ongoing Greek financial crisis, which has not gone away and is not likely to be solved.
Those who are optimistic for the chances of a solution should bear in mind that the IMF doesn't think that Greek debt is sustainable and that a write down is required. Germany, however, won't countenance a write down.
In short, there are no signs of a solution.