Economic Depression in Greece deepens as Tsipras prepares to say NO to EU ~ link ~
As Greece plunges even deeper into economic chaos, Greek Prime Minister Alexis Tsipras says that his government is prepared to respond to the demands of the EU and the IMF with “the great no” and that his party will accept responsibility for whatever consequences follow. Despite years of intervention from the rest of Europe, Greece is a bigger economic mess today than ever. Greek GDP has shrunk by 26 percent since 2008, the national debt to GDP ratio in Greece is up to a staggering 175 percent, and the unemployment rate is up above 25 percent. Greek stocks are crashing and Greek bond yields are shooting into the stratosphere. Meanwhile, the banking system is essentially on life support at this point. 400 million euros were pulled out of Greek banks on Monday alone. No matter what happens in the coming days, many believe that it is now only a matter of time before capital controls like we saw in Cyprus are imposed.
Over the past several months, there have been endless high level meetings over in Europe regarding this Greek crisis, but none of them have fixed anything. And even Jeroen Dijsselbloem admits that the odds of anything being accomplished during the meeting of eurozone finance ministers on Thursday is “very small”…
- We have been waiting for the End Game of the New World Order. There are events on the Horizon, such as, Bank Bail-Ins, cashless currencies, 24/7 surveillance and biometric ID cards which, in the Dreams of the Uber Rich, will be required for you to work, to buy food, to travel and to express your opinion. These are long term issues.
- Today I would rather address the immediate issues we will face in the Mideast for the next 90 days. My regular readers know that I do not believe America is headed to war either with Russia over the Ukraine or with the Chinese over the South China Seas. America is too weak to even contemplate such wars. Our professional soldiers will mutiny rather than follow orders to lead a tank assault against the Russians.
- That leaves the Mideast where Israel controls the forces of Al Qaeda, ISIS, Egypt, Saudi Arabia, the Kurds and the US.