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Friday, January 30, 2015

***Eurogroup chief whispered to Greek FinMin’s  ear “You just killed the Troika” and that Varoufakis replied with a simple “WOW!”***


The joint press conference was concluding, when Greek Finance Minister Yanis Varoufakis droped a last bombshell.  “…and with this if you want – and according to European Parliament – flimsily-constructed committee we have no aim to cooperate. Thank you.” Varoufakis was referring to the famous Troika, the country’s official creditors consisting of the European Union, the International Monetary Fund and the European Central Bank..

After concluding with a “Thank you” Varoufakis gives the word to Eurogroup Chief Jeroen Dijsselbloem, who wants to hear the translation first. Then he takes off the ear phones, he stands up and sets to leave. An enforced-looking shaking of hands delays the  departure of the Dutch FinMin.

Dijsselbloem quickly whispers something to Varoufakis’ ear, he briefly replies back and the Eurogroup chief leaves the press conference hall as soon as it was possible. 


Spend more on defence to combat Russia, Nato tells UK as Putin goes ahead with £190billion modernisation programme for its armed forces

  • Britain and Nato allies warned they need to beef up their defence spending
  • Nato Secretary-General: Security environment has changed in the past year
  • Jens Stoltenberg said the biggest challenge comes from Russia
  • Tensions between Russia and West have risen over the conflict in Ukraine 

NATO units to Eastern Europe; France pledges tanks
By Lorne Cook, The Associated Press

BRUSSELS — NATO said Friday it will deploy small units in six eastern European nations to help coordinate a spearhead force set up in response to Russia's actions in Ukraine.

NATO Secretary General Jens Stoltenberg said the units in Estonia, Latvia, Lithuania, Poland, Bulgaria and Romania will be the first of their kind there.

Defense ministers from the 28-nation military alliance will discuss the full force, which can react quickly to any hotspots in Europe, when they meet on Feb. 5.

Stoltenberg said countries responsible for providing the several thousand troops should be known next week.

The forward units will comprise a few dozen troops only. They will plan and organize military exercises, and provide command and control for any reinforcements the force might require.

"They're going to plan, they're going to organize exercises, to provide ... some key command elements for reinforcements," Stoltenberg said.

NATO forces conducted some 200 military exercises in 2014 and Stoltenberg, speaking at his regular monthly press conference, vowed that this would continue as the Alliance adapts to the increased presence of Russian war planes in European skies. NATO intercepted more than 400 Russian aircraft last year. 

Clashes escalating in eastern Ukraine

Full-blown fighting erupts anew. Hostilities now seem to be focused around railway lines which are crucial links for both the Ukrainian government troops and the rebel Russian backed separatists in Donetsk. (AP)

Well it's looking like SPAIN "IS" about to become the NEXT Greece!!!!!!!!!!!!!!!!!!!!!!!!!!! 

It's looking LIKE the ""LAB RATS"" have Eaten their FILL of ""BIG Government"" BULLSHIT!!!!!!!!!!!!!!!!!!!!!!!!!! 
Tens of thousands march to support Spanish anti-austerity party

(MENAFN - AFP) Tens of thousands of people took to the streets in Madrid on Saturday in support of new anti-austerity party Podemos, a week after Greece elected its hard-left ally Syriza.

With the party topping opinion polls in the run up to elections later this year, protesters chanted "Yes we can!" as they made their way from Madrid city hall to the central Puerta del Sol square.

Many waved blue and white Greek flags and red and white Syriza flags or held signs reading "The change is now" and "Together we can".

Podemos, which means "We Can", was formed just a year ago, but produced a major shock by winning five seats in elections for the European Parliament in May.

"The wind of change is starting to blow in Europe," Podemos leader Pablo Iglesias said in both Greek and Spanish at the start of his address to the crowd at the end of the march.

"We dream but we take our dream seriously. More has been done in Greece in six days than many governments did in years."

Syriza beat mainstream Greek parties by pledging to end austerity and corruption, as Podemos aims to do in Spain's general election due in November.

Iglesias, a 36-year-old pony-tailed former university professor, appeared alongside Syriza's Alexis Tsipras, now Greece's prime minister, to publicly support him during his campaign.

Podemos wants to prevent profitable companies from firing people, promote a fully state-controlled health care system and enact a "significant" minimum-wage hike. 

Angela Merkel rejects debt relief for Greece

German Chancellor's words add to tensions between the radical new Greek government and its international creditors
By Katie Grant and agencies

German Chancellor Angela Merkel ruled out any cancellation of Greece's debt and said the country has already received substantial cuts from banks and creditors.

"There has already been voluntary debt forgiveness by private creditors, banks have already slashed billions from Greece's debt," Merkel said in an interview with the Hamburger Abendblatt newspaper.

"I do not envisage fresh debt cancellation," she said.

The new Greek government has already begun to roll back years of austerity measures demanded by the EU and the International Monetary Fund in return for a 240 billion euro ($269 billion) bailout granted to avoid a financial meltdown in 2010, and says it will negotiate to halve the debt.

At the start of 2012, Greece restructured its debt in a deal involving private creditors who took "haircuts" or wrote down parts of their holdings. This cut Greece's total debt burden by around 100 billion euros. 

Germany, ECB play hard ball with Greece
By Paul Carrel and Jussi Rosendahl

(Reuters) - German Chancellor Angela Merkel ruled out a debt writedown for Greece on Saturday, and a European Central Bank policymaker threatened to cut off funding to Greek banks if Athens does not agree to renew its bailout package.

The euro zone's paymaster and the ECB are both taking a tough line with Greece's new leftist government, whose leader swept to victory last Sunday promising that five years of austerity, "humiliation and suffering" were over.

Alexis Tsipras has also promised to renegotiate agreements with the European Commission, ECB and International Monetary Fund "troika" and write off much of Greece's 320 billion euro ($360 billion) debt, which at more than 175 percent of gross domestic product is the world's second-highest after Japan.

Merkel flatly rejected such a possibility.

"There was already a voluntary waiver by private creditors; Greece has already been exempt from billions by the banks. I don't see a further debt haircut," she told German daily Die Welt in an interview published in its Saturday edition.

"Europe will continue to show solidarity for Greece, as for other countries hit particularly hard by the crisis, if these countries undertake their own reforms and savings efforts," Merkel added in a thinly veiled threat to Athens. 

Europe's creditors play with 'political fire' in pushing Greece to the brink

"The creation of the euro was a terrible mistake but breaking it up would be an even bigger mistake. Anything could happen," warns former IMF bail-out chief
By Ambrose Evans-Pritchard, International Business Editor

The North European power structure has issued stern and inflexible warnings to Greece. Syriza’s triumphant radicals must pay the country’s debts and stick to the letter of the hated `Memorandum’ imposed by creditors.

If premier Alexis Tsipras breaches the terms of Greece’s EU-IMF Troika bail-out – signed by earlier leaders under duress, and deemed unjust in Athens – Europe will cut off €54bn of support for the Greek banking system and force the country out of the euro in short order. Europe must not yield to “blackmail,” said Germany’s ZEW institute.

Wolfgang Schäuble, Germany’s finance minister, said the new Syriza government is bound by the contractual terms of Greece’s €245bn loan package from the Troika. “Elections change nothing. There are rules. We did whatever could be done to support Greece in difficult times, again and again," he said.

When the crisis first erupted in 2010, and re-erupted in 2012, Europe lacked a firewall. The conflagration threatened to spread instantly from Greece to Portugal, Ireland, and beyond.

This time Mr Schäuble thinks they are ready. “We face no risk of contagion, so nobody should think we can be put under pressure easily. We are relaxed,” he said.

ECB's Liikanen: No lending to Greek banks if no deal by end of February

Jan 31 (Reuters) - A deal on extending Greece's bailout deal must be found by the end of February or the European Central Bank will not be able to continue lending to its banks, ECB council member Erkki Liikanen said on Saturday.

Europe's bailout programme for Greece, part of a 240-billion-euro ($270 billion) rescue package along with the International Monetary Fund, expires on Feb. 28 and a failure to renew it could leave Athens unable to meet its financing needs and cut its banks off from ECB liquidity support.

Greece's new leftist government, which aims to ease the strict terms of the bailout that have imposed harsh austerity, opened talks with European partners on Friday by flatly refusing to extend the current programme or to cooperate with the international inspectors overseeing it.

"We (ECB) have our own legislation and we will act according to that... Now, Greece's programme extension will expire in the end of February so some kind of solution must be found, otherwise we can't continue lending," Liikanen, also the governor of Finland's central bank, told public broadcaster YLE.

"I don't believe that one can hide from the realities in the economy," he said in an interview. 

Hey Planet EARTH.........................You Really NEED to TELL Your Friends what YOUR READING HERE..........................It's FREE to ""ANYONE"" including toooooooooooooo YOU Folks living in Countries where Your Government Thinks the INTERNET "IS" a Direct Threat TOOOOOOOOOOOO Their CONTROL!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

I make it SOOOOOOOOOOOOOOOOOOO Easy to CONNECT the DOTS. The Central BANKSTERS and the ASSHOLES Running ""BIG Government"" have Created the ""PERFECT Storm"" that WILL(Worst Case) Bring upon the Global Economy the Greatest Cycle of WEALTH DESTRUCTION in Human History!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

THIS HELL Will Stretch through a GENERATION because with THIS ""GREAT RESET"" Will Come World WAR III and ALL you have to do IS Look at the Level of TERRORISM Sweeping around the World and the Preparations ""BIG Government"" IS Making in the Biggest and Most Under Reported ARMS Race since the END of WWII!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Males of Planet EARTH 17-30 Years of AGE WILL be Subject to the Greatest Military Mobilization in Human History WHEN ""GLOBAL WAR"" becomes part of the ""NEW NORMAL""!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

So Tell Those YOU Care About that I have OVER 3 YEARS of Articles that Paints a VERY Good Picture FOR All to SEE that ""BIG Government"" Ain't YOUR Friend!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

China’s Yuan Tumbles on Speculation Over Central Bank Move Soon

Markets Anticipate a Possible PBOC-Inspired Depreciation of the Currency
By Carolyn Cui

China’s yuan fell sharply in value against the dollar in offshore trading on Friday, as investors speculated the Chinese central bank could widen the currency’s daily trading band as early as this weekend, paving the way for it to depreciate further.

In New York trading, the price for the offshore yuan fell to 6.2887 per dollar, 2.5% lower than Friday’s official midday fixing in China by the central bank at 6.1370 per dollar.

The Chinese currency has two different exchange rates depending on whether it is traded on mainland China or offshore. Traders watch the offshore rate because it is more open to foreign investors and less subject to state control.

When the offshore rate trades below the mainland rate, it is typically an indication of weaker overseas demand for the currency. It can also be a sign investors believe the Chinese government will lower the official exchange rate.

The People’s Bank of China sets a daily reference rate for the yuan, then allows it to trade 2% above or below that level.

The speculation surrounding the yuan is the latest evidence of mounting pressure on global currencies exerted by the strengthening U.S. dollar. Central banks globally have also raced to lower interest rates and weaken their currencies in a bid to counter waning economic growth.

On Friday, Russia’s central bank unexpectedly cut its main interest rate, causing the ruble to fall. A day earlier, the Danish central bank trimmed rates into negative territory as pressure has mounted on the currency’s peg to the euro. 

As China's Offshore Yuan Crashes To A 2 Year Low, Beijing Warns Its Citizens: "Don't Buy Dollars"

We won't go into the specific details of China's burst housing bubble, the shady underworld of its pyramid scheme wealth-management products, the fact that any hard asset in China is rehypothecated literally a countless number of times, the nuances of its deflating shadow banking system, or even the complexities of its alleged capital controls (alleged, because as a reminder, they only exist for the common folks - the really wealthy Chinese are naturally exempt from any capital flow constraints). We will point out something even more disturbing.

Recall that China, a mercantilist, export-driven country, has a currency that is pegged to the dollar in all but name (yes, the technical peg was dropped in 2005 but since then the PBOC controls the daily moves in the strictest and tiniest of increments), a dollar which has soared in the past 6 months to levels which have prompted countless other central banks to ease in recent weeks, and even forced the Swiss National Bank out of the currency wars, waving a flag of surrender. As a result, China's exports have been crushed regardless of what fabricated and goalseeked Chinese data will have gullible observes believing.

And while the value of the local Yuan, the CNY, is set by bureaucrats and policy makers on a daily basis, and trades in a tight band around a specific, political number and thus never truly reflects the fair value of the Chinese currency, its offshore cousin, the CNH, floats and is impacted by the private demand of the Yuan. As such, the latter is far more indicative of the pressures that face the Chinese economy and what financial interests dictate should be the fair value of the domestic currency.

It is also the former, the Offshore Yuan, that overnight hit a two-year low, reaching a level not seen since September 2012.

Offshore Yuan Drops to Weakest Since 2012 on PBOC Easing Signs
By Fion LiJustina Lee

(Bloomberg) -- The yuan traded in Hong Kong fell to its weakest level since 2012 as the People’s Bank of China said it pumped funds into the money market, fueling speculation the authority is easing policy further amid an economic slowdown.

The offshore currency dropped 0.2 percent to 6.2782 a dollar as of 8:10 p.m. in Hong Kong, data compiled by Bloomberg show. It touched 6.2885 earlier, the lowest since October 2012. The PBOC added 855 billion yuan ($137 billion) via short-term liquidity operations between Dec. 16 and Dec. 31, it said in a statement Friday.

China’s gross domestic product rose 7.4 percent in 2014, the slowest full-year pace in 24 years. Fiscal revenue increased the least since 1991 last year, curbing scope to spur the economy with government spending and leaving the onus to boost liquidity on the PBOC, which cut benchmark interest rates in November for the first time since 2012. Central banks in nations including Denmark, Turkey, India and Canada this month announced surprise rate cuts to revive growth.

Such operations signal monetary easing in China, said Kenix Lai, a Hong Kong-based foreign-exchange analyst at Bank of East Asia Ltd. “Many other major central banks eased recently, and the PBOC followed suit. The offshore yuan dropped sharply on the news.”

In Shanghai, the yuan completed a third straight month of losses on concern about China’s growth and as monetary easing in Europe and Japan boosted demand for the U.S. dollar. The onshore spot rate slid 0.75 percent in January, extending a three-month loss to 2.2 percent. The Bloomberg Dollar Spot Index has climbed 3 percent this year.

The #1 Chinese EXPORT in 2015 WILL Be....................DEFLATION!!!!!!!!!!!!!!!!!!!!!
Obama's America......................Planet EARTH be VERY Afraid!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

The Death Of The American Dream In 22 Numbers
By Michael Snyder

We are the generation that gets to witness the end of the American Dream.  The numbers that you are about to see tell a story.  They tell a story of a once mighty economy that is dying.  For decades, the rest of the planet has regarded the United States as “the land of opportunity” where almost anyone can be successful if they are willing to work hard.  And when I was growing up, it seemed like almost everyone was living the American Dream.  I lived on a “middle class” street and I went to a school where it seemed like almost everyone was middle class.  When I was in high school, it was very rare to ever hear of a parent that was unemployed, and virtually every family that I knew had a comfortable home and more than one nice vehicle.  But now that has all changed.  The “American Dream” has been transformed into a very twisted game of musical chairs.  With each passing year, more people are falling out of the middle class, and most of the rest of us are scrambling really hard to keep our own places.  Something has gone horribly wrong, and yet Americans are very deeply divided when it comes to finding answers to our problems.  We love to point fingers and argue with one another, and meanwhile things just continue to get even worse.  The following are 22 numbers that are very strong evidence of the death of the American Dream…

#1 The Obama administration tells us that 8.69 million Americans are “officially unemployed” and that 92.90 million Americans are considered to be “not in the labor force”.  That means that more than 101 million U.S. adults do not have a job right now.

#2 One recent survey discovered that 55 percent of Americans believe that the American Dream either never existed or that it no longer exists.

#3 Considering the fact that Obama is in the White House, it is somewhat surprising that 55 percent of all Republicans still believe in the American Dream, but only 33 percent of all Democrats do. 

OH the HELL that's Coming to the American Economy thanks to the American ""LIBERALS"" who Allowed Obamacare to become LAW!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Thanks Obamacare: This Is What Americans Spent The Most Money On In Q4

If readers need clarification on what was the primary source of spending-based "growth" for the US economy in the fourth quarter, the same source that bumped up final Q3 GDP from 3.9% to 5.0%, please ping us: we will gladly explain the chart below.  And just in case it is still unclear what Americans are spending their "gas sasvings" on, here it is one more time.

Obamacare..................................America, YOU Can't AFFORD this ""LIBERAL"" SCREW JOB!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Obama's America!!!!!!!!!!!!!!!!!!!!!!!!!!!!! 
ATTENTION ""LAB RATS"" of Planet EARTH.......................FEBRUARY "IS" going to be BRUTAL!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! 

3 Things - Fed Mistake, ECB QE, Housing
By Lance Roberts

The Fed May Be Making A Mistake

On Wednesday, the Federal Reserve made their latest monetary policy announcement.  Janet Yellen, the current Chairwoman, made several statements that led the markets to believe that they remain on course for increasing the overnight lending rate this year.


However, the real state of economic expansion, as discussed yesterday, is highly questionable as the global deflationary forces have already begun to wash back onto domestic shores.  While the Federal Reserve stated they were not worried about the decline in oil prices, as it boosts disposable household incomes, it is a point that they should reconsider since there is little evidence supporting that claim.

5 Things To Ponder: Ascending Contingencies
By Lance Roberts

I spill a lot of digital ink pointing out potential investment risk to investors. As I have stated in the past, the reason I do this is because the media expends a great amount of effort to avoid such a discussion because it does not attract viewership/readership. (Also, since their advertisers are primarily Wall Street related firms - suggesting an individual carry more cash is not financially beneficial.)

However, there are two problems with my approach. Because I share my view of risk with you, I am considered a "bear." Fair enough.  However, that moniker assumes that I am sitting in cash, hoarding gold and "beanie-weenies" and expecting an immediate demise of the known universe. However, that is hardly the case as a read of my weekly e-newsletter will show a long history of successfully navigating the ebbs and flows of the market.

For this reason, as I wrote recently, if I am a bear then I am an "almost fully invested bear." However, that is the point of this weekend's reading list. Recent market actions, the rapid decline in interest rates, earnings deterioration and plunging energy prices have all made me much less comfortable being long the market.

While the "buy and hold" crowd suggests this is all rubbish, it should be worth remembering that every single one of that group never saw the corrections in 2000 or 2008 until it was far too late.  Their only excuse was "no one could have seen it coming." The truth is that many did see what was coming.

Paying attention to what is happening at the margin leads to an understanding of when the "tides" begin to shift. With the general complacency in the markets beginning to deteriorate and risk appetites receding, these have historically been predictors of corrections or worse.

This weekend I am heading to Vancouver to speak at a financial investment conference, so here is what I will be reading on the plane.

The Coming CORRECTION "IS" going to be FRICKING BRUTAL!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Why Are Central Banks Terrified Of Debt Restructuring?
By Graham Summers

Back in 2012, Mario Draghi promised to “do whatever it takes” to hold the Euro together.

A lot of analysts interpreted this statement in a literal sense. However they are incorrect.

Draghi is willing to…

*Confiscate wealth by cutting interest rates to negative.

*Permit regulators to seize bank accounts to “bail-in” banks.

*Verbally intervene every time possible provided it pushes yields on EU nation sovereign bonds lower.

*Buy EU sovereign bonds despite the fact that this clearly violates the Maastricht Treaty (the treaty that formed the Eurozone).

However, what Draghi is NOT wiling to do is restructure ANY EU sovereign nation’s debt.

Why is this? After all, everyone knows that the whole problem for the Eurozone is TOO MUCH DEBT. And given that all of his efforts to inflate this debt away have failed miserably, a debt restricting is the only real option left.

Not to mention, debt restricting would actually reduce the leverage in the system and permit the Eurozone to return to growth.

Draghi won’t let this happen because he, like all Central Bankers in the world, is concerned about one thing: the bond bubble.

Globally, the bond bubble is $100 trillion in size. And sovereign bonds (the ones the EU doesn’t want to restructure) are used as the senior most collateral backstopping the big Eurozone banks’ derivatives portfolios.

Put another way, the €12 trillion in collected EU nation sovereign debt, is backstopping over €100 trillion in derivatives trades on the banks’ balance sheets.

Thus ANY debt restructuring in the EU would almost immediately blow up the large Eurozone banks because you’re talking about tens of trillions of Euros’ worth of trades having requiring margin calls/ new collateral arrangements.

This is particularly true because you’re not talking about just one nation restructuring its debt. All of the PIIGS would be up for debt restructuring followed eventually by France.

At that point, the entire EU banking system implodes and Mario Draghi is in the unemployment line.

You can see this line of thinking in the EU’s second bailout of Greece. If you read between the lines, you it’s obvious what really happened and what really mattered to the ECB during the Greek bailouts 

Will Greece Burst the Bond Bubble?
By Graham Summers

For over 30 years, sovereign nations, particularly in the West have been buying votes by offering social payments in the form of welfare, Medicare, social security, and the like.

When actual bills came due to fund this stuff, Governments quickly discovered that current tax revenues couldn’t cover it (see the image below)… so they issued sovereign debt to make up the difference.

And so the global bond bubble was created.

As far back as 2009, most Western nations were completely bankrupt when you consider unfunded liabilities from their social policies. But Central Banks did everything they could to paper of this fact by soaking up as much bond issuance as possible while simultaneously maintaining zero interest rates.

Globally the bond bubble is over $100 trillion in size. The derivatives based on this bubble exceed $555 trillion. So when sovereign debt restructurings begins the real crisis (the one to which 2008 was just the warm up) will begin. 

The European Banking System "IS" Now at RISK of Total Collapse because not only are they looking at a Credit EVENT of the Sovereign DEBT(340 BILLION EUROs) of GREECE they have some 1.2 - 1.4 TRILLION EUROS in PRIVATE DEBT that WILL SEE a HUGE WAVE of DEFAULTS IF Greece IS locked out of the Credit Markets!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! 

OH and Don't Forget about those DERIVATIVES.......................There are TRILLIONS of EUROS of Credit Default Swaps floating ALL around the Planet!!!!!!!!!!!!!!!!!!!!!!!!!!!! 

Welcome back to 2008!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Greek FinMin to Eurogroup President: We Won’t Cooperate with the Troika
By Aggelos Skordas

The President of Eurogroup, Jeroen Dijsselbloem and the Greek Finance Minister, Giannis Varoufakis, proceeded to joint statements, after their meeting just moments ago. Mr. Varoufakis welcomed the European Official “with great joy,” declaring that this was only an introductory meeting. “We started a first meeting process which will be the basis for a fruitful and effective cooperation, as required in the interests of Greece, the Eurozone and the European Union,” he added.

The starter pleasantries, however, were soon to be replaced by differing views in what is seen as the first clash of the newly elected SYRIZA-led government with the European partners.

The discussion ended on a good note with the President of the Eurogroup stating: “We discussed the procedures of the Eurozone putting particular emphasis on confidence that will lead to a new agreement within the Eurozone. From my side, I referred extensively to the Greek government’s priorities and the determination with which we intend to proceed with necessary, deep reforms, which must be made without fear and passion and restore the country’s competitiveness,” Mr. Dijsselbloem stressed.

The new Greek Finance Minister explained during the meeting that “the government’s guarantees for a balanced budget with a small primary surplus in perpetuity. I clarified that the State might have a continuity but we will not accept the self-reinforcing crisis of deflation and debt.”

Moreover, Mr. Dijsselbloem characterized the meeting as one of twofold purpose as it was made both “to hear the new government’s intentions and to explain the requirements of our agreements. We share mutual interests and both sides want Greece to regain its financial independence.” Referring to the 2012 Eurogroup, its President underlined that “it undertook a commitment to adequately support Greece in order to regain access to the markets under the condition it will meet its own commitments. Unilateral steps are not a way of moving forward. There are still problems in Greece, the situation did not change overnight.” At the same time, he expressed his understanding that the Greek people suffered harsh measures and “it is important for the new government not to waste this progress. “We expect from the Greek government to define its position and move forward together,” he concluded. 

Greek government refuses to work with troika

Meeting the head of the Eurogroup in Athens, the Greek Finance Minister said he would reject any cooperation with Greece's main international lenders known as the troika. His statement didn't go down well in Germany.

The head of the Eurogroup chairing eurozone finance meetings Jeroen Dijsselbloem on Friday met with top officials from the new Greek government in Athens to sound out their polices.

He was told bluntly by new Finance Minister Yanis Varoufakis that Greece was no longer willing to cooperate with the troika, that is its key lenders, the European Commission, the European Central Bank and the International Monetary Fund.

Varoufakis said his country was not asking for an extension of the existing bailout as it disputed the very wisdom of the program in the first place.

"It cannot be our first move to give up our stance on the troika by demanding an extension of the bailout program, which is rejected by the people," the finance minister said in a statement.

Greece sacks heads of privatisation agency

Jan 30 (Reuters) - Greece's new leftwing government has asked the heads of the state privatisation agency to resign after halting state asset sales agreed under the international bailout programme, the agency's chief executive Paschalis Bouchoris said on Friday.

He said both he and Emmanuel Kondylis, chairman of the Hellenic Republic Asset Development Fund (HRADF), had been told to leave by Deputy Finance Minister Nadia Valavani, the minister responsible for overseeing state revenues.

"We were asked to resign immediately," Bouchoris told Reuters. "She explained to us that the privatisation programme will be ended and so there was no reason for the agency to continue in its current form," he said.

The government of Prime Minister Alexis Tsipras has already halted a string of major asset sales which had been planned as part of debt-cutting efforts agreed with its creditors in the European Union and International Monetary Fund.

Privatisation had been meant to raise billions for Greece's depleted state coffers but proceeds have been disappointing so far, amounting to no more than around 3 billion euros, a fraction of an initially targeted 22 billion euros.

Berlin says fresh Greek aid "not on agenda", denying media report

* Spiegel says Berlin might back fresh aid with conditions

* Berlin denies report, urges Athens to obey rules

* New Greek government strikes defiant tone (Adds German MP warning of consequences for Athens)

BERLIN, Jan 30 (Reuters) - Germany's Finance Ministry denied on Friday a media report that Berlin would be ready to discuss a new aid package for Greece of up to 20 billion euros if the new leftist Greek Prime Minister Alexis Tsipras accepted supervised economic reforms.

"That is not on the agenda at all," said a spokesman for Finance Minister Wolfgang Schaeuble. The report in Der Spiegel magazine that Germany estimated Greece's additional aid needs at about 20 billion euros was "pure speculation", he added.

Spiegel reported that Germany would be willing to grant Greece fresh aid on condition that it accepted reforms overseen by inspectors from the "troika" - the European Commission, the European Central Bank and the International Monetary Fund.

Tsipras was elected last weekend on a promise to reverse precisely the kind of austerity measures prescribed by Berlin and supervised by the troika.

He has already scrapped some of the privatisation plans agreed under the existing bailout deal and his finance minister said on Friday he had no intention of cooperating with the troika.

Earlier on Friday, Schaeuble said Germany was open for talks with the new Greek government about its debt woes, but he also made clear that Athens had to implement further reforms.

GREECE.............................WILL Totally SCREW EUROPE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Record Unaffordability for New Homes in 2014
By Political Calculations

In terms of affordability, 2014 became the worst year on record for the median price of new homes sold in the United States.

The chart below, showing the relationship between the trailing twelve month average of median new home sale prices and the trailing twelve month average of median household incomes reveals how new homes in the U.S. reached a record level of unaffordability for the typical American household.

Pending Sales of Existing Homes in U.S. Drop by Most in a Year

(Bloomberg) -- Contracts to purchase previously owned U.S. homes unexpectedly fell in December by the most in a year, a sign the industry’s recovery remains uneven.

The index of pending sales dropped 3.7 percent after a 0.6 percent gain the prior month that was smaller than initially estimated, figures from the National Association of Realtors showed Thursday in Washington. The median forecast of 42 economists surveyed by Bloomberg called a 0.5 percent increase.

Fewer available properties, higher prices and still-tight credit are hurdles for some customers as first-time buyers remain reluctant to enter the market. At the same time, employment gains and near record-low mortgage rates will help to underpin demand, one reason builders such as Lennar Corp. expect the industry’s rebound will be sustained.

“Total inventory fell in December for the first time in 16 months, resulting in fewer choices for buyers and a modest uptick in price growth,” Lawrence Yun, the NAR’s chief economist, said in a statement. “More jobs, increasing consumer confidence, less expensive mortgage insurance and new low down-payment programs coming into the marketplace will likely lead to more demand from first-time buyers.”

Pending Home Sales See 2nd Biggest MoM Plunge Since May 2010

The 3.7% plunge MoM in December's pending home sales is the 2nd largest since May 2010, drastically missing expectations of a 0.5% rise in sales (buoyed by exuberance from homebuilders). All regions saw weakness but the Northeast was worst with a 7.5% MoM plunge (so weather will be blamed we are sure - though it appears analysts never thought of that). Inventories fell for the first time in 16 months but NAR's chief economist proclaims it is time for "current homeowners to realize their equity gains and trade-up." Yep - more leverage...

Millennials shun the housing market: 6 in 10 Millennials would rather rent a home than buy it. First-time home buyers at record low levels.
By Dr. HousingBubble

Millennials have a very different perspective on the housing market compared to their parents.  I’m sure many a Millennial has talked with their parents and realizes that being chained to a massive mortgage is not exactly part of the American Dream.  Beyond this difference in thought, many younger Americans are simply not in a position to buy especially in high cost states.  In California we have 2.3 million adults living at home with parents.  And they are living at home because of financial issues.  Many in fact cannot afford the high rents in expensive metro areas.  So it is no surprise that a recent survey found that 6 out of 10 Millennials would rather rent than buy.  Now why is this important?  It is important because people don’t just make the biggest purchase of their life on a whim.  Even for the pathetic 5 percent down payment, you actually need to put money away given you’ll need those funds at closing.  It takes a bit of planning but it appears that most are just not looking to buy.  And the market stats reflect this.  First-time home buyers now make up a record low percentage of all home sales.  Millennials are saying no to buying homes.

U.S. Housing.............................Now COMES the CORRECTION!!!!!!!!!!!!!!!!!!!!!!!!!!!!
To YOU Socialists Running the EU in Brussels, I have a Recommendation for YOU Folks, Start Updating YOUR Resumes because the EU might be OUT of Business come 2016!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! 

Marine Le Pen Soars Into Lead in French Presidential Polls for 2017; Don't Worry, Nothing Can Possibly Go Wrong
By Mike "Mish" Shedlock

In spite of the Charlie Hebdo murders that raised the popularity of French president Francois Hollande and his staff, Les Echos reports than in the 2017 presidential election anti-euro candidate Marine Le Pen in the 1st Round Lead With Nearly 30% of the Vote.

FRANCE.........................EMU's NEXT ""PIIGS""!!!!!!!!!!!!!!!!!!!!!!! 

GREECE..........................................PUTIN "IS" ROTFLHFAO in TEARS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

SPAIN..................................The NEXT GREECE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

EUROPE................................Totally FUCKED for the REST of this DECADE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Canada HEADING Toward RECESSION in 2015 and HOLY CRAP......................YOU'RE going to SEE One HELL of a ""***Housing Correction***"" in Canada when it COMES!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

""Canada GDP shrinks on biggest factory drop in six years""
By Greg Quinn, Bloomberg News

The Canadian dollar plunged below 79 cents US today after data showed Canada’s gross domestic product contracted in November as manufacturing dropped the most since January 2009 and on declines in mining and oil and gas extraction.

Output shrank by 0.2%, the most in 11 months, to an annualized $1.65 trillion, Statistics Canada said Friday in Ottawa. The median forecast in a Bloomberg economist survey was for output to be little changed.

Manufacturing declined by 1.9% in November, with losses ranging from machinery and equipment to plastics and rubber.

Meanwhile, U.S. economy slowed sharply in the fourth quarter — but consumer spending grew at fastest pace since 2006.

The Canadian dollar reached the weakest level in almost six years after the data showed the economy shrank in November, bolstering speculation the central bank will cut interest rates again.

""FALLING Crude OIL Prices""....................The PAIN has ONLY Just BEGUN!!!!!!!!!!!!!!!!!!!!!!!! 

Canada Recession!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
OPEC's Oil Supply Is On The Rise
By Alex Lawler

LONDON (Reuters) – OPEC’s oil supply has risen this month due to more Angolan exports and steady to higher output in Saudi Arabia and other Gulf producers, a Reuters survey showed, a sign key members are standing firm in refusing to prop up prices.

The Organisation of the Petroleum Exporting Countries at a November meeting decided to focus on market share rather than cutting output, despite concerns from members such as Iran and Venezuela about falling oil revenue.

Supply from OPEC has averaged 30.37 million barrels per day (bpd) in January, up from a revised 30.24 million bpd in December, according to the survey based on shipping data and information from sources at oil companies, OPEC and consultants.

At the Nov. 27 meeting, OPEC retained its output target of 30 million bpd, sending oil prices to a four-year low close to $US71 a barrel. Crude since fell to a near six-year low of $US45.19 on Jan. 13 and was trading above $US49 on Friday.

OPEC Secretary General Abdulla al-Badri, speaking in London on Monday, defended the no-cut strategy and said prices may have reached a floor, despite oversupply. Other OPEC delegates have since echoed this message. 

I WARNED YOU ALL that the ""PIMPS"" of Wall Street was going to FUCK the ""LAB RATS"" AGAIN!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

So Guess What Folks.............................WE All get to ENJOY the HELL that WAS 2008..................................AGAIN!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Zero profit growth expected for US companies in first quarter

Falling oil prices, a soaring dollar and concern about weaker global demand have increasingly pessimistic analysts predicting Standard & Poor's 500 companies will see no earnings growth at all in the first quarter of 2015.

That would be the worst quarter for Standard & Poor's 500 earnings since the third quarter of 2009, not long after the United States emerged from its recession. Revenue for the first quarter is expected to be worse, forecast to decline 2.0 percent from a year ago, according to Thomson Reuters data.

OPEC oil output rises in January

OPEC's oil supply has risen this month due to more Angolan exports and steady to higher output in Saudi Arabia and other Gulf producers, a Reuters survey showed, a sign key members are standing firm in refusing to prop up prices.

The Organization of the Petroleum Exporting Countries at a November meeting decided to focus on market share rather than cutting output, despite concerns from members such as Iran and Venezuela about falling oil revenue.

""FALLING Crude OIL Prices""...........................The PAIN has ONLY Just BEGUN!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

SEE I Told You ALL that 2015 "IS" going to be a REAL BITCH!!!!!!!!!!!!!!!!!!!!!!!!!!!

The Coming CORRECTION "IS" going to be FRICKING BRUTAL!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! 

NOTHING Can STOP the 2015 ""GLOBAL RECESSION""......................NOTHING!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Attention Planet EARTH................SHORT the Living SHIT out of the EURO because......................IF Greece Dumps the EURO and EXITS the EU, They WILL Also LEAVE NATO and TEAR an NEW Post WWII Asshole in EUROPE that PUTIN has been Working ON since 1998!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! 

Eurozone breakup threat reaches all-time high

As Greek leaders enter negotiations with the troika, analysts have described the coming confrontation as an “unstoppable force meeting an immovable object”
By Peter Spence

The formation of a new left wing Greek government has elevated the risks of a eurozone breakup to levels “significantly higher than at any point in 2012”, according to Barclays.

2012 is widely viewed as the height of the eurozone crisis. A cocktail of political populism across the continent and the prospect of a deflationary spiral has now elevated the risks of a breakup even higher in 2015.

“The risks have also risen as the periphery, especially Spain, is aligning itself with the views of several countries in the core of granting few concessions to Greece on a new programme,” Francois Cabau of Barclays said.

Syriza leaders view the burden of debt imposed on Greek shoulders as far too heavy to pay, and have sought some form of relief.

They will clash with the so-called “troika” - the EU, IMF, and ECB - on the matter. Jan von Gerich, a strategist at Nordea, has described the coming confrontation as an “unstoppable force meeting an immovable object”.

I'm Really going to ENJOY Watching ""Socialism"" DIE on Planet EARTH in my Life Time!!!!!!!!!!!!!!!!!!!!!!!!!!!

So Now WE ALL have to ASK Ourselves........................Should WE Skip the ""GLOBAL Depression"" and go Straight to ""GLOBAL WAR""????????????????????????

Birth Pangs Of The Coming Great Depression
By Michael Snyder

The signs of the times are everywhere – all you have to do is open up your eyes and look at them.  When a pregnant woman first goes into labor, the birth pangs are usually fairly moderate and are not that close together.  But as the time for delivery approaches, they become much more frequent and much more intense.  Economically, what we are experiencing right now are birth pangs of the coming Great Depression.  As we get closer to the crisis that is looming on the horizon, they will become even more powerful.  This week, we learned that the Baltic Dry Index has fallen to the lowest level that we have seen in 29 years.  The Baltic Dry Index also crashed during the financial collapse of 2008, but right now it is already lower than it was at any point during the last financial crisis.  In addition, “Dr. Copper” and other industrial commodities continue to plunge.  This almost always happens before we enter an economic downturn.  Meanwhile, as I mentioned the other day, orders for durable goods are declining.  This is also a traditional indicator that a recession is approaching.  The warning signs are there – we just have to be open to what they are telling us.

And of course there are so many more parallels between past economic downturns and what is happening right now.

For example, volatility has returned to the markets in a big way.  On Tuesday the Dow was down about 300 points, on Wednesday it was down another couple hundred points, and then on Thursday it was up a couple hundred points.

This is precisely how markets behave just before they crash.  When markets are calm, they tend to go up.  When markets get really choppy and start behaving erratically, that tells us that a big move down is usually coming.

At the same time, almost every major global currency is imploding.  For much more on this, see the amazing charts in this article. 

""***Greece says will not cooperate with troika or seek aid extension***""

Greece's government will not cooperate with the EU and IMF mission bankrolling the country and will not seek an extension to the bailout program, its finance minister said on Friday.

Jeroen Dijsselbloem, head of the euro zone finance ministers' group who is in Athens for talks with the new government, said the two sides would decide what would happen next before the program ends on Feb. 28.

"This platform enabled us to win the confidence of the Greek people," Finance Minister Yanis Varoufakis told reporters after their meeting. "Our first action as a government will not be to reject the rationale of questioning this program through a request to extend it."

Varoufakis said he had assured Dijsselbloem that Athens planned to implement reforms to make the economy more competitive and have balanced budgets but that it would not accept a "self-fed crisis" of deflation and non-viable debt.

In turn, Dijsselbloem said he had told the new government to respect the terms of the existing agreement between Greece and the euro zone and warned against taking unilateral steps, saying it was important not to reverse progress made so far.

He said continuing support from Europe depended on Greece respecting its obligations and it was up to to Athens to decide its position before moving forward jointly with the euro zone.

The game is up. It’s time for Greece to leave the eurozone and move on

The stand-off between Greece and the rest of the eurozone will escalate, neither side will blink and the country will default
By Allister Heath

It’s time for Greece to leave the euro, default on its debt and move on. I write this with a heavy heart as the short-term consequences for ordinary Greeks could be disastrous, but there is now no other practical way out.

Syriza is serious about change and simply will not honour the country’s debts or stick to international agreements. Germany is equally serious about not accepting a debt write-off. A N24/TNS poll shows that 43pc of Germans are unwilling to negotiate debt relief or a longer loan repayment schedule with Greece. As to Brussels, the European Commission president Jean-Claude Juncker has said that “there’s no question of writing down Greek debt”. The stand-off will escalate, and escalate further. Neither side will blink, which means that a Grexit and default is now almost inevitable.

At least 77pc of Greek government debt is owned by official bodies or governments, according to Open Europe, rather than the private sector, so a massive default won’t be catastrophic for private institutions. Anybody with any sense will have seen this coming, and sold as much Greek debt as they could get away with.

Sadly, Alexis Tsipras, the new prime minister, is a delusional socialist. He doesn’t want to privatise state assets and leads a party that doesn’t accept economic reality. But even though his analytical framework is entirely wrong, some of his conclusions are actually right. The Greeks have suffered far too much in recent years, and something needs to change. The problem is that the Tsipras way will inevitably lead to disaster in the long run. 

Greek Bond Yields Surge Above 19% After EU Talks

Following finance minister Varoufakis' insistence that Greece will not accept more debt (or what EU calls a "bailout") and talks with the Eurogroup chief end, Greek bond yields have surged (and prices dropped) with 3Y GGBs back over 19% - the highest since the crisis. Greek bank stocks - after yesterday's exuberant penny stock squeeze - are falling once again. 

Germany's worst nightmare has come true

The Germans never wanted the single currency in the first place - they knew what it would lead to
By Jeremy Warner

It’s Germany’s worst nightmare. Increasingly isolated, ganged up on, and even hated by much of southern Europe, it is fast losing the argument over the future of the euro.

Even the Governor of the Bank of England, Mark Carney, has been at it. This week he joined in the German bashing with a full-frontal attack on Berlin’s austerity agenda. And it’s causing confusion, dismay and resentment in equal measure in this most stable, disciplined and civilised of nations.

To understand the decisive shift in narrative that has taken place in Europe over the last couple of weeks – from the defeat Germany has suffered at the hands of the European Central Bank, to the Syriza victory in Greece and its demands for debt forgiveness – you have to go back to the euro’s origins and Germany’s place in it.

Germans never wanted the single currency in the first place, for like Britain, they instinctively understood where it would lead – to a fiscal, or transfer, union which Germany, as Europe’s dominant economy, would be forced to bankroll. If given a referendum, they’d have said no.

But European monetary union was the price Germany had to pay for reunification; it was a way, other European nations naively believed, of containing the newly enlarged country and ensuring that it was properly integrated into the rest of Europe. To them, it seemed the answer to Europe's historic problem - Germany was too large and economically powerful ever to be properly defeated, but the potential threat it poses to the rest of Europe could perhaps be defused through economic integration. Most Germans, now a peace loving people, broadly go along with this "solution" to the problem. The point of dispute is rather about the degree of integration.

ROTFLMFAO in TEARS!!!!!!!!!!!!!!!!!!!!!! The Vote "IS" In....................And some 35 Days before the ECB Waste BILLIONS of EUROS on Draghi's Version of ""QE"" VooDoo, the Bond Market "IS" Say it will Fricking FAIL!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

30Y German Bund Yield Plunges Under 1% - Record Low

"...but it can't go any lower, right?" On the heels of yesterday's German deflation and today's near-record EU wide deflation prints... and the ongoing tumble in inflation expectations post-Q€ - the rush for the safety of Bunds continues (and with it the arb-drag on US yields) as for the first time ever, 30Y German Bunds yield below 1%...


The Eurozone Is Tumbling Into Its Deepest Deflation Ever
By Mike Bird

Europe's deflation deepened in January — prices fell 0.6% year over year.

That's a joint-record low for the 15-year-old currency union, matching the drop seen in 2009, when prices tumbled immediately after the financial crisis.

The core figure is being closely watched — it fell back to 0.7% in December and plunged to 0.5% in January: That's the lowest in the eurozone's history, too.

The figure tries to measure inflation but strips out very volatile items like food and, crucially, energy. Eurozone inflation has been dropping for a couple of years, but falling oil prices have finally pushed the index into negative territory.

Spanish prices in December fell 1.5%, the steepest drop of any major eurozone economy, and Germany joined the club in January with prices down 0.5% year on year. 

Eurozone heads towards 'protracted' deflation as bloc hit by record price drop

Prices fall by 0.6pc across the 19-nation single currency area in January as energy costs continue to tumble
By Szu Ping Chan

Eurozone prices suffered their joint biggest drop in the single currency's history in January, sparking fears that the bloc could sink into a deflationary trap as falling energy prices began to feed through to the broader price chain.

Consumer prices in the eurozone were 0.6pc lower than a year earlier, following deflation of 0.2pc in December, according to a preliminary estimate by Eurostat.

This is the biggest annual drop in prices since July 2009, when prices also fell by 0.6pc, and matches the biggest fall since the euro was launched in 1999. Economists expected prices to fall by 0.5pc in January.

The decline was led by a 8.9pc annual fall in energy costs. However, there were also signs that the recent tumble in the oil price was spilling over to the wider price chain.

Core inflation - which strips out volatile elements such as food and energy costs - rose by 0.6pc in the year to January, from an annual increase of 0.7pc in December. 

Europe lower after euro zone deflation deepens

European equities were lower on Friday, with investors reacting to earnings and euro zone inflation and unemployment reports.

The pan-European Euro Stoxx 600 Index (^STOXX) was lower, having started the day in positive territory. Stocks pared gains after official statistics showed the euro zone slid further into deflation in January .

Prices fell by 0.6 percent year-on-year in January, below the 0.5-percent slide forecast by analysts polled by Reuters, and worse than December's 0.2 percent price fall. In the U.K., the FTSE 100 (FTSE International: .FTSE)'s was pressured after BT (London Stock Exchange: BT.A-GB) fell as much as 2 percent on Friday when the telecoms firm announced it would pay off its pension deficit . However, U.K.miniing giants rallied, with Fresnillo surging over 4 percent, while Randgold (London Stock Exchange: RRS-GB), BHP Billiton (London Stock Exchange: BLT-GB) and Anglo American (London Stock Exchange: AAL-GB) all posted gains over 2 percent.

Eurozone Deflation Ties Post-Lehman Record, Worse Than Expected

With every central bank scrambling to export deflation, and with the Saudis doing everything in their power to definancialize crude as an investment asset and destroy the US shale patch, it is probably no surprise that the ECB is utterly hopeless to prevent Europe from sliding into an all out deflationary contraction, which this morning Eurostat confirmed when it reported that in January, Euro Area deflation was "worse" (assuming it is worse when consumers pay less for goods and services, which it only is if they are sinking in debt) than the -0.5% expected reading, instead sliding from -0.2% in December to -0.6% in January, which also happens to be tied for the worst deflationary print in the Euroarea history, matching the number from July 2009 when the world was reeling in the global Great Financial Crisis depression.

OH and this Ain't Helping EITHER!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

European Union baulks at Greece game of chicken
By Adam Creighton
Economics Correspondent Sydney
The Australian

“UNTIL you live in continental Europe, it’s very hard to ‘get’ the EU,” Australia’s former ambassador to the union, Brendan Nelson, tells The Weekend Australian, noting he could drive to five different countries in two hours from his office in Brussels.

“People say the euro currency or the union will fail because it’s based on politics and not economics, but they don’t understand: that’s exactly why it won’t fail,” says the former Liberal leader, now director of the Australian War Memorial in Canberra.

The EU may have won the Nobel Peace Prize in 2012 for overseeing the longest period of peace in continental ­Europe’s history, but it is still nursing some of the sickest economies in the world.

Just this month its central bank embarked on a desperate €1.1 trillion ($1.6 trillion) money creation program to jumpstart the beleaguered currency bloc.

So YOU Folks Reading from Europe have to ASK Yourselves a VERY Important "Q" here.................................WILL the European Economy Collapse before the Economies of ASIA in 2015???????????????????????????????????

NOTHING Can STOP the 2015 ""GLOBAL RECESSION""...................NOTHING!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Welcome BACK to the 1930s ""LAB RATS""!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! 
Attention ""LAB RATS"" of Planet EARTH..............................The Number of VICTIMS of Falling Crude Oil Prices "IS" Rising ***BIG TIME***!!!!!!!!!!!!!!!!!!!!!!!!!!!

The Mexican Peso & Brazilian Real Are Collapsing

Back over 15 / USD for the first time since March 2009, the Mexican Peso is tumbling hard this morning... and the Brazilian Real is also tanking (back near 10-year lows) - no clear catalyst aside from further weakness in oil producer and EM FX sentiment.

""FALLING Crude OIL Prices""..................................The PAIN has ONLY Just BEGUN!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


Bank Of Russia Surprises With Unexpected Rate Cut, Brings YTD Total Of Nations Easing To 14

Yesterday we reported that in less than 1 month in 2015, so far a whopping 13 countries have proceeded with "surprising" rate cuts: Singapore, Europe, Switzerland, Denmark, Canada, India, Turkey, Egypt, Romania, Peru, Albania, Uzbekistan and Pakistan. As of this morning, make that total 14, because in one of the more "surprising surprises" so far, it was none other than the Bank of Russia which cut its main interest rate from the 17% shocker it instituted at an emergency session on December 17 to halt the Ruble collapse (as a result of the crude price plunge) to 15% less than an hour ago. At the same time it cut the deposit rate to 14% and the repo rate to 16%.

More rate cuts may be coming:

NOTHING Can STOP the 2015 ""GLOBAL RECESSION""........................NOTHING!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!