Monthly Archives: March 2013

Nigel Farage: Eurozone completely incompatible with nation-state democracy

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Nigel Farage: Eurozone completely incompatible with nation-state democracy

“There has been a major political event since we last met and no one has mentioned it. Italy had an election. And 55% of the electorate voted for Eurosceptic political parties, indeed Mr Grillo’s movement managed to get 26%. It is quite tough in European politics these days to tell who the comedians are.  And what is absolutely clear is that Eurozone membership is completely incompatible with nation-state democracy. You can do what you like to take away the powers of national parliaments but people will go on voting, and there is a trend developing right across Europe; the Eurosceptic parties are going to get stronger and stronger.”

http://www.youtube.com/watch?v=V72mZCDwmY0

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More Entrepreneurs Say “Au Revoir”, Escape France’s Confiscatory Tax Regime

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“New evidence of top French executives leaving the country has emerged as President Francois Hollande battles a stalling economy and tumbling approval ratings. Two senior executives at Moet Hennessy, the champagne and cognac arm of the LVMH luxury group, are moving to London from Paris and the head of Dassault Systemes, the software arm of Dassault Aviation, said some senior managers of his company had left and he was considering following suit. …The news follows Mr Arnault’s own application for Belgian citizenship, leaked last September, which poured fuel on a fiery debate in France about entrepreneurship, patriotism and high taxes.”

http://danieljmitchell.wordpress.com/2013/03/13/more-entrepreneurs-say-au-revoir-to-the-administration-fiscale-escape-frances-confiscatory-tax-regime/

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Popularity of French President Francois Hollande in Steep Decline

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“Since taking office 10 months ago, Hollande has experienced the fastest drop in popularity ever seen in French presidential politics. In June of last year, those who said they had confidence in him numbered between 51 and 63 percent, depending on the polling institute. That number is now 30 to 37 percent, nearing the lowest approval rating of any French president on record: Nicolas Sarkozy in May 2011, at 20 percent.  Hollande is struggling to find convicing counterarguments as unemployment has risen to 11 percent, economic data looks more dismal by the week, industrial output is taking a nosedive and a recovery is nowhere to be seen.”

http://www.spiegel.de/international/europe/popularity-of-french-president-francois-hollande-in-steep-decline-a-888568.html

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New anti-euro party forms in Germany

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“A new party in favour of returning to the Deutsche Mark is taking shape in Germany, hoping to attract voters disillusioned by the political establishment.  The new ‘Alternative for Germany’ party is hoping to capitalise on a growing resentment about the euro-crisis and what Germans perceive as costly bailouts for profligate southern countries. Backed by Hans-Olaf Henkel, a prominent eurosceptic and former head of the German Industry Federation (BDI), the new party is expected to have its official launch on 14 April in Berlin.  A survey published Monday by TNS-Emnid showed that 26 percent of Germans would consider backing a party that campaigns for getting rid of the euro.”

http://euobserver.com/political/119366

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Greece’s Futile Austerity

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“The Greek situation is beyond wretched. Top earners are being pursued by helicopters and spied on by satellites over non-payment of taxes; there are regular riots in the streets and, as in Argentina a decade ago, middle-class people have been reduced in some cases to picking through garbage bins to survive.  The suffering has been needless. The result is not going to be of benefit to anyone except perhaps some of Europe’s largest banks, and they are getting plenty of help already.  There is little money in Greece but there is plenty of anger. And Prime Minister Samaras, taking note of it, announces there will be no further austerity measures.”

http://www.thedailybell.com/28815/Greeces-Futile-Austerity

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Japanese Solution for Collapsing Portugal?

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“The Portuguese population is getting older as it shrinks. The presumptive obligations of the Portuguese government to take care of its aging population will be increasingly tested within the current environment.  Spain, Greece, Ireland, Portugal – gradually and in various ways the Southern half of Europe is collapsing into varying stages of violence and apathy. But if the Portuguese solution takes hold, then the damage that has been done in the past five years may extend a generation or more.  Europe may gain a euro but it will lose decades of vitality and innovation as its younger generations emigrate to more hospitable regions.”

http://www.thedailybell.com/28813/Japanese-Solution-for-Collapsing-Portugal

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Kyle Bass Warns: “The ‘AIG’ Of The World Is Back”

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“His single best investment idea for the next ten years is, ‘Sell JPY, Buy Gold, and go to sleep,’ as he warns of the current situation in markets, ‘we are right back there! The brevity of financial memory is about two years.’  The main thrust of the discussion is Bass’ thesis on Japan’s pending collapse – which we wrote in detail on here, here, and here – and while the details of this thesis should prepare most for the worst, it is the Q&A that provides some very clear insights into just what is going on in the world.”

http://www.zerohedge.com/news/2013-03-12/kyle-bass-warns-aig-world-back

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Beggar Thy Neighbor

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Thousands rally against the Troika in Brussels

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“Around 1,500 protesters rallied at the Parc du Cinquantenaire in Brussels, according to police on the scene. Although more were seen gathering close to the European Council Summit at the Place Shuman. There have reportedly been 25 arrests by police.  The police banned protesters from marching past the banks and the seats of government in Brussels, to the dismay of many of the protesters. 100 of the protesters occupied the Directorate General for Economic and Financial Affairs in Brussels (DG ECFIN).  The DG ECFIN provides most of the staff whose job it is to go to indebted European countries to impose austerity measures regardless of public opinion.”

http://rt.com/news/brussels-clashes-anti-austerity-269/

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Norway’s Sovereign Wealth Fund Flees Currencies Tainted by Stimulus Addiction

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“Norway’s $713 billion sovereign wealth fund is turning away from the world’s biggest currencies and their debt-laden governments as policy makers undermine their exchange rates through unprecedented stimulus measures.  The Government Pension Fund Global, the world’s largest wealth fund, cut its holdings in French and U.K. government bonds by almost half last year as it raised its share of government bonds in emerging-market currencies to 10 percent of its fixed-income holdings by adding investments in Turkey, Russia and Taiwan.”

http://www.bloomberg.com/news/2013-03-10/norway-oil-fund-flees-currencies-tainted-by-stimulus-addictions.html

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