28 June, 2015 by The TZ Newswire Staff Comments Off on How Could The "Greek Experts" Be So Wrong?
How Could The "Greek Experts" Be So Wrong?
With Greece disintegrating before our very eyes, here are some recent blasts from the recent and not so recent past, showing just how clueless some of the most and least respected, strategists, bureucrats, drama majors, and former Goldman employees have been when it comes to Greece.
28 June, 2015 by The TZ Newswire Staff Comments Off on The War On Some Drugs
The War On Some Drugs
Submitted by Doug Casey via InternationalMan.com,
Drugs are a charged subject everywhere. Longtime readers know that although I personally abstain from drugs and generally eschew the company of users, I think they should be 100% legal.
28 June, 2015 by The TZ Newswire Staff Comments Off on Going To Be a Rough Open (But We’ve Seen the Movie)
Going To Be a Rough Open (But We’ve Seen the Movie)
In case you haven’t read the funny pages this weekend, there’s all kinds of Greek drama going on. Basically the ECB has cut off Greece’s air supply until they figure this all out for the 400th time. As a result, Greek banks and their stock market will be closed tomorrow. I have read that both may stay closed until July 5.
Capital controls that limit people’s ability to withdraw and move money out of the country are, it is safe to say, not a sign of a healthy situation by any stretch.
28 June, 2015 by The TZ Newswire Staff Comments Off on Market Extra: Greece sets stage for chaotic Monday, week
Market Extra: Greece sets stage for chaotic Monday, week
Greece’s debt odyssey is on the brink of a tragic end to its prolonged-debt negotiations after a tumultuous weekend of surprising twists and turns and failed last-ditch negotiations.
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28 June, 2015 by The TZ Newswire Staff Comments Off on Pension Funds Are "Compromising Their Solvency" OECD Warns
Pension Funds Are "Compromising Their Solvency" OECD Warns
Four months ago in “The Global War On Pensioners”, we highlighted the impact perpetually suppressed risk-free rates are having on pension funds. The critical point is this: the lower the investment return assumption (the assumed discount rate), the higher the present value of pension liabilities, meaning funds must either concede that liabilities have ballooned in the low yield environment, or take greater risks to justify elevated investment return assumptions.
28 June, 2015 by The TZ Newswire Staff Comments Off on German, Dutch banks ‘well-prepared’ for Greek financial ructions
German, Dutch banks ‘well-prepared’ for Greek financial ructions
“We are very well-prepared because we’ve been anticipating a situation like this for a long time,” said a spokesman for Germany’s second biggest lender, Commerzbank (CBKG.DE). The Athens stock exchange will also be closed on Monday as the government tries to manage the financial fallout of the disagreement with the European Union and the International Monetary Fund. Germany’s biggest lender, Deutsche Bank (DBKGn.DE), said it felt well-prepared and was keeping a close eye on developments.
28 June, 2015 by The TZ Newswire Staff Comments Off on Wall St. eyes Greece and Fed; Main St lackadaisical
Wall St. eyes Greece and Fed; Main St lackadaisical
Anxiety about Greece may keep Wall Street on edge early in the week, as the country moves toward what was once thought unthinkable: a default and a full exit from the euro zone. While European markets are braced for a wave of contagion from Greece on Monday, as a result of a possible “Grexit” that most had still assumed was unlikely as late as Friday afternoon, the effect on U.S. markets is expected to be bumpy, but not as dramatic as in Europe. Athens is due to miss a 1.6 billion euro ($1.8 billion) repayment to the International Monetary Fund on Tuesday.