AVA MARIA - by Helene Fischer - video ~ link
The main difference between the plans is the inclusion of the private sector in the second. If officials can solve the legal and technical problems, private investors will maintain exposure to Greece by voluntarily buying about 30 billion euros of bonds as their current holdings mature, the sources say.
But this step is more useful politically than economically. It limits the burden which official creditors must assume, helping Europe’s donor governments justify the second bailout to their taxpayers, but it does not cut Greece’s debt.
That leaves heavy pressure on Greece to pay down debt with tax revenues generated by economic growth. Here the outlook is grim; the EU, the IMF and the European Central Bank expect the economy to shrink 3.8 percent this year, worse than the 3.0 percent assumed in the first bailout plan, and some private analysts predict a contraction of around 5.0 percent.
Although the bailouts require Greece to introduce regulatory changes, labour market reforms and other steps to make its economy more competitive, it is still not clear if these will be enough to offset the fact that as a member of the Eurozone, Greece cannot cut interest rates or depreciate its currency.
The Greatest Depression Has Only Begun ~ link ~ The greatest depression in human history is still in its starting stages. What the media and many officials often refer to as the "hangover" from the global financial crisis is in fact the end of the beginning. Originating in 2008, the global economic crisis took the world by storm: banks collapsed, the "too big to fail" became bigger by consolidating the rest, governments bailed out their financial industries, masses of people lost their jobs, the 'developing' world was plunged into a deep systemic crisis, food prices rose, which in time spurred social unrest; and the Western nations that took on the bad debts of the big banks are on the precipice of a great global debt crisis, originating in Europe, hitting Greece and Spain, but destined to consume the industrialized world itself. Though many claim that we are in a "recovery," things could not be further from the truth.
The Collapse Of Nations All By The Hand Of Corrupt Bankers ~ link ~ Take the time to read all of this at the link, great article. Stirling
What professionals for the most part do not seem to understand is that the events of 2006/07 have never been solved. On February 2009 the inflationary depression began. There has now been a double dip since then. What we have witnessed is slight revivals caused by the injection of money and credit. Unemployment is close to the same level it was 2-1/2 to 3 years ago. That phenomenon has been the same in the UK and Europe. In the UK the Bank of England and in Europe the ECB are doing the same thing the Fed is doing and that is buying government debt by creating money and credit out of thin air. The City of London, Wall Street and Frankfurt would have you believe these injections into the systems were working, when in fact all they have done is temporarily bail out Wall Street and the City of London and the European financial centers as well as the governments involved. Nothing has been done to structurally assist the system and put people back to work. What readers have to understand is that what has been done to these economies does not work and the participants know it doesn’t work. Professionals, who are not connected with the elitists, have panicked, because they do not understand what is going on - what is being done to them. The market was ripe to fall, but there is another important factor, Wall Street wants a short-term debt extension with little or no spending cutbacks. The new conservatives say no, we are not going to do that. The market will be taken lower until these representatives see the light. How far are they willing to take the market down, probably to between 8,500 to 10,000 on the Dow, or until Congress gives them what they want. In the meantime they will attack commodities, gold and silver, so no one can profit. Unfortunately for them, that isn’t working this time. They are lower, but come back every time they are artificially pushed down. We believe that is what this market correction is all about. Wall Street will take the market down as far as they have to in order to get what they want. In the meantime the Middle East and Europe are in turmoil and wars abound in a number of Middle Eastern countries. Those on the inside understand that the market is fueled by major deficit spending and the injection of money and credit, as government inflates debt away. The economy and the market for the last two years have not justified stock prices at the level they have maintained during that period. The same is true for the UK and Europe.
Israel vows to stop new Gaza Aid Flotilla ~ link ~ If this was anyone besides the State of Israel doing this the global outcry would be deafening! What Israel is doing is beyond shameful! Stirling
Morgellons: Altered Blood ~ link
Libya: NATO airstrike killed 15 civilians including 3 children ~ link ~ The tax dollars of several hundred million, from Europe and North America, at work. Stirling
Levee near Nebraska's Cooper nuclear plant about to break - video ~ link