Tag Archives: Austerity

Europeans Rapidly Losing Faith in EU Project

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“Europe’s ongoing economic crisis and lasting currency woes are beginning to rapidly erode faith among Europeans in the EU project. That is the result of a new survey undertaken by the renowned Pew Research Center in Washington D.C. and released on Monday evening.  In just one year, the share of Europeans who view the European Union project favorably plummeted from 60 percent in 2012 to just 45 percent this year. Furthermore, only in Germany does a majority continue to support granting more power to Brussels in an effort to combat the ongoing crisis.”

http://www.spiegel.de/international/europe/new-pew-study-finds-europeans-losing-faith-in-eu-project-a-899588.html

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Hell Freezes Over? French Support Spending Cuts by Overwhelming 4-1 Margin

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“According to new polling data from Pew, the people of France support spending cuts over spending increases by a margin of 81-18, an astounding result. I’m also surprised that the Spaniards and Italians support spending cuts. The polling results are especially impressive considering that Pew asked the question in a very biased way, presupposing that Keynesian economics actually works. The fact that so many Europeans saw through this inaccurate wording is very encouraging.”

https://danieljmitchell.wordpress.com/2013/05/14/hell-has-officialy-frozen-over-french-support-spending-cuts-by-overwhelming-4-1-margin/

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Spain’s Bitcoin Reaction to the Cyprus Crisis Government Grab of Deposits

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“Number of Bitcoin dealers, before and after the Cyprus crisis, in Spain.”

http://www.economicpolicyjournal.com/2013/05/spains-bitcoin-reaction-to-cyprus.html

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It’s Not Pretty: The EuroZone Economies

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“The EuroZone is in the down phase of the business cycle and government regulations make it difficult for startups in most EZ countries to launch, regulations in most EZ countries also make it risky for established firms to hire. Further, unemployment packages make it attractive for most to stay unemployed once they are laid off. Thus you have economies that look like this. Unlike the European Central Bank, which has been doing only very modest money printing, the Fed has been flooding the markets, which has caused, yet another manipulated boom in the housing sector and stock market, that will, soon enough, experience another bust.”

http://www.economicpolicyjournal.com/2013/05/its-not-pretty-eurozone-economies.html

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Youth Without Hope: 60% Unemployment

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“Greece has a 60% unemployment rate for people in the 18-25 age bracket.  Think of this. This is a generation that is unlikely ever to save their career plans out of the recession that has overtaken Greece and is getting worse.  It will mar them for the rest of their lives.  The experts said this was impossible in 2007. The bankers in northern Europe believed the hype. They lent money to Greece’s government and businesses. Now they need bailouts from the European Union — the government — and the central bank, and the IMF. They care nothing about Greece. They just want someone to pay interest on their loans. They are getting what they ask for. Greece isn’t.”

http://teapartyeconomist.com/2013/05/14/youth-without-hope-60-unemployment/

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Editorial-Page Fiction at the New York Times

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“They want us to believe that ‘slashed’ budgets and inadequate spending have caused ‘worse health outcomes’ in nations such as Greece, Italy, and Spain, particularly when compared to Germany, Iceland, and Spain.  But if government spending is the key to good health, how do they explain away this OECD data, which shows that government is actually bigger in the three supposed ‘austerity’ nations than it is in the three so-called ‘stimulus’ countries.”

http://danieljmitchell.wordpress.com/2013/05/13/another-example-of-editorial-page-fiction-at-the-new-york-times/

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Stodgy Netherlands is nation that’ll blow up euro

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“Consumer debt in the Netherlands has hit 250% of available income, one of the highest levels in the world. In Spain, by comparison, it has never gone above 125%.  The Netherlands has turned into one of the most heavily indebted countries in the world. It has slumped into recession and shows very little sign of coming out of it. The euro crisis has been dragging on for three years now but so far has only infected the peripheral nations within the single currency. But the Netherlands is a core member of both the euro and the European Union. If it can’t survive in the euro zone, then the game really will be up.”

http://www.marketwatch.com/story/stodgy-netherlands-is-nation-thatll-blow-up-euro-2013-05-08

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Draghi Says ECB Ready For Negative Interest Rates If Needed

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“European Central Bank President Mario Draghi said policy makers are ready to cut interest rates again if needed after reducing them to a record low last week.  The euro fell half a cent on the comment to $1.3057 and European stocks pared losses. The Frankfurt-based ECB on May 2 cut its benchmark rate by a quarter point to 0.5 percent, and Draghi said then that officials have an ‘open mind’ about taking the deposit rate, currently at zero, into negative territory.”

http://www.bloomberg.com/news/2013-05-06/draghi-says-ecb-ready-to-cut-interest-rates-again-if-needed-1-.html

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Gold to play major role in Italy economic recovery

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“According to a WGC survey, only 4% of citizens and business leaders would support the sale of Italy’s gold reserves, while 52% of citizens and 61% of business leaders would endorse using, but not selling, national gold reserves. The study revealed that Italian business leaders (92%) and citizens (85%) overwhelmingly agree that the nation’s gold reserves have an important and positive role to play in the country’s economic recovery.”

http://www.bullionstreet.com/news/gold-to-play-major-role-in-italy-economic-recovery/4675

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Globalist Euro Disaster: Euro Founder Endorses Bust-Up

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“Lafontaine like other Eurocrats knew full well what he was doing when he helped inflict this monstrous mess. The result has been of late bloodshed, massive unemployment, the ruin of whole families, the disruption of the hopes and dreams of literally hundreds of millions. Europe lies in ruins with no near-term hope of recovery and European cultures and prosperity are being flattened by this damnable Euro dreadnaught. Only one thing is ‘up’ in Europe these days it sometimes seems. And that is suicides. And Lafontaine is sorry. And he has changed his mind.”

http://www.thedailybell.com/30644/Globalist-Euro-Disaster-Euro-Founder-Endorses-Bust-Up

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