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| "Schaeuble wants a Grexit to put the fear of God into the French!" HERE & HERE |
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| Martin Armstrong: "This is the start of BIG BANG and as the rest of Western nations raise taxes, the economy is about to fall off a cliff and they bring economic activity into a swan-dive. They will, as always, blame the private sector. We can see this decline coming as long-term bonds crashed from May, liquidity has collapsed, and there is excess cash in the short-end keeping interest rates low ensuring we will see not just municipalities decline into a debt crisis like Detroit, but we are staring in the eyes of death insofar as pensions are concerned. Politicians are good for only (1) lies, (2) corruption, (3) debt, (4) taxes, and (5) death and war." |