Socio-Economics History Blog

Socio-Economics & History Commentary

The Eurozone’s Coming Debt Crisis

  • The Eurozone’s Coming Debt Crisis
    by Daniel Lacalle, https://www.dlacalle.com/en/
    The European Central bank has signaled the end of its asset purchase program and a possible rate hike before 2019. After more than 2 trillion euro of purchases and zero interest rate policy, it is overdue.

    The massive quantitative easing program has generated very significant imbalances and the risks outweigh the questionable benefits. The balance sheet of the ECB is now more than 40% of the Eurozone GDP. The governments of the Eurozone, however, have not prepared themselves at all for the end of stimuli.

    Rather the contrary.
    The Eurozone states often claim that deficits have been reduced and risks contained. However, closer scrutiny shows that the bulk of deficit reductions came from lower cost of debt. Eurozone government spending has barely fallen, despite lower unemployment and rising tax revenues. Structural deficits remain stubborn, and in some cases, unchanged from 2013 levels.

    The 19 eurozone countries have collectively saved 1.15 trillion euros in interest payments since 2008 due to ECB rate cuts and monetary policy interventions, according to Handelsblatt. A reduction in costs against the losses of pensioners and savers.

    However, that illusion of savings and budget stability can rapidly disappear as most Eurozone countries face massive maturities in the 2018-2020 period and wasted precious years of quantitative easing without implementing strong structural reforms. Tax wedge rose for families and SMEs, while current spending by governments barely fell, competitiveness remained poor and a massive one trillion euro in non-performing loans raised doubts about the health of the European financial system.

    read more.

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June 15, 2018 Posted by | Economics, GeoPolitics | , , , , , | Leave a comment

Germany to SPARK EU RUPTURE as Merkel’s Minister Demands Border with Austria is CLOSED

  • Germany to SPARK EU RUPTURE as Merkel’s Minister Demands Border with Austria is CLOSED
    by LAURA MOWAT, https://www.express.co.uk/
    GERMANY’S Interior Minister Horst Seehofer is battling with Chancellor Angela Merkel to CLOSE Germany’s border with Austria – a seismic move which threatens the very existence of the EU.

    The Austrian Chancellor Sebastian Kurz landed in Berlin yesterday for talks on EU  migration policy with Chancellor Merkel. Italy’s Home Secretary Matteo Salvini has also requested an invitation to visit for migration talks. The call to close the German border would not only demolish one of the pillars of EU policy – freedom of movement – but would also see more migrants pouring into its neighbouring countries, especially Austria and Italy.

    The clash has rocked the already fragile German government, which only formed in March following a coalition and months of wrangling and diplomacy.

    read more.

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June 15, 2018 Posted by | GeoPolitics | , , , , , , | Leave a comment

“EU is on the Verge of COLLAPSE” – And It’s OUR FAULT Because of Migration, Says EC Boss

  • “EU is on the Verge of COLLAPSE” – And It’s OUR FAULT Because of Migration, Says EC Boss
    by JOE BARNES, BRUSSELS CORRESPONDENT, https://www.express.co.uk/
    THE EU is on the brink of DISINTEGRATION and it is all down to European politicians getting migration so badly wrong, Jean-Claude Juncker’s deputy admitted today.

    Frans Timmermans sent the shock warning to European Union colleagues, declaring the bloc was “on the brink” and that “the unthinkable has become possible.” The first vice-president of the European Commission, standing in for his boss Jean-Claude Juncker, launched a devastatingly honest speech attacking the EU’s handling of migration and warned the break-up of the bloc was now a realistic prospect.

    Following on from Dutch prime minister Mark Rutte’s demand for action, Mr Timmermans said: “The unthinkable has become possible. Who five years ago would have said the European Union could break up and disintegrate? Nobody!

    “It was gratuitous to attack the European Union and its institutions because they were unbreakable.” The senior EU official put the migration crisis at the heart of the bloc’s troubles.

    He added: “The European Union is not unbreakable, something that is breakable is extremely valuable. “What is the issue that has brought the European Union to the brink? The issue of migration. “The issue of migration has played a key role in all of our member states, wherever we are.

    “Only we, as a European Union, can convince our citizens that we do have an answer to this – not deny migration, not pretend you can solve it by building fences and walls, not pretending we can solve it by letting everybody in.

    “If you understand that we need a comprehensive approach to the migration issue, and only at European level will this comprehensive approach be valuable and work. If we cannot convince our member states and citizens of that, then we will be in the same situation as the Dutch citizens were in 1581.”

    read more.

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June 13, 2018 Posted by | GeoPolitics, Social Trends | , , , , | Leave a comment

EU ON THE BRINK: Brussels Risks Collapse – Bloc ‘Not Solid Enough’ to Avert Future Crisis

  • EU ON THE BRINK: Brussels Risks Collapse – Bloc ‘Not Solid Enough’ to Avert Future Crisis
    by JOE BARNES, BRUSSELS CORRESPONDENT, https://www.express.co.uk/
    THE European Union risks collapse under the weight of any future significant challenges because it is not strong enough, according to an unpublished report by the European Fiscal Board.

    Ageing populations and high government debts are a growing problem for Brussels which is still “not solid enough” to deal with another potential financial crisis, according to the paper which was presented to the European Commission’s leaders on Tuesday.

    The independent advisory body’s chairman, Niels Thygesen, said it is time the EU pursues a more restrictive fiscal approach despite an upturn in the bloc’s finances. The EFB’s report reads: “Although fiscal positions have improved, they are currently not solid enough to withstand future challenges, that is, to absorb future downturns and the budgetary costs of ageing populations.

    read more.

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June 13, 2018 Posted by | Economics, GeoPolitics | , , , , | Leave a comment

Troubled Waters: Italian Govt Closes Port to Migrants as Influx Continues

  • RT Published on Jun 12, 2018
    After two weeks in power, Italy’s new governing parties are sticking to its campaign promises. The Interior Minister has closed a port to a vessel carrying migrants. The country’s new goal is to protect its borders, he says.

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June 13, 2018 Posted by | GeoPolitics, Social Trends | , , , , , | Leave a comment

EU CRISIS WORSENS: Brussels Threatens to Tear Itself Apart as Migration Row ERUPTS

  • EU CRISIS WORSENS: Brussels Threatens to Tear Itself Apart as Migration Row ERUPTS
    by JOE BARNES, BRUSSELS CORRESPONDENT, https://www.express.co.uk/
    THE European Union is in danger of a complete meltdown as leaders from across the bloc continue to clash over how to handle a potential summer migration crisis with a EU Commissioner sending warning shots over several governments’ positions.


    Nations are starting to rebel against Jean-Claude Juncker’s plans to include more funding for refugees in the EU’s next budget, mainly from Italy’s new coalition government of Lega and the Five Star Movement.

    Tensions reached fever pitch when Matteo Salvini, Rome’s new interior minister and deputy prime minister, blocked a ship carrying 630 migrants, including seven pregnant women, stranded in the Mediterranean.

    With Malta also refusing to accept the Aquarius vessel operated by the charities Medecins Sans Frontieres and Sos Mediterranee, Spain’s new prime minister Pedro Sanchez instructed port officials to welcome the ship into Valencia.

    read more.

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June 13, 2018 Posted by | GeoPolitics, Social Trends | , , , , | Leave a comment

ANALYST: EU Is Now In FULL Collapse

  • The Alex Jones Channel Published on Jun 12, 2018
    Katie Hopkins joins Alex Jones live via Skype to break down how and why the European Union is currently heading into a total collapse due to individual nations declaring their right to sovereignty.

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June 13, 2018 Posted by | GeoPolitics | , , | Leave a comment

The New World Order Is Falling Apart As Trump Dominates Global Affairs – War Room Full Show

  • The Alex Jones Channel Published on Jun 8, 2018
    The New World Order Is Falling Apart As Trump Dominates Global Affairs – War Room Full Show.

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June 11, 2018 Posted by | EndTimes, GeoPolitics | , , , , | Leave a comment

The Best Thing Germany Could Do for Europe is Quit the Single Currency – But It Won’t

  • The Best Thing Germany Could Do for Europe is Quit the Single Currency – But It Won’t
    by , https://www.theguardian.com/international
    EU leaders are saddled with a mechanism that doesn’t work. There are ways to fix that, but not the will.

    Even when it was clearly in decline, the Soviet Union commanded loyal devotion. Its admirers could never quite grasp that the nation instrumental in winning the second world war had a broken economy.

    The same cognitive dissonance applies to the European Union today. There is the EU as it exists in the minds of its most avid supporters: fast-growing, a defender of progressive values, fighting the good fight against Thatcherism, and marching steadfastly towards greater integration.

    Then there is the EU as it really is: struggling economically; wedded to an aggressive form of neoliberal economics; insistent that there is no alternative to a top-down, ever-closer union; and spawning anti-elite parties across the continent.

    Like the USSR under Gorbachev, Europe needs radical reform before it is too late because, as George Soros noted last week, everything that could go wrong has gone wrong. The EU is saddled with a single currency that doesn’t work but unable to admit it. It has forced its weaker members to suffer the consequences of the euro’s design weaknesses with austerity policies; it has told those who complain about low growth and high unemployment to sort out their own problems through structural reforms (wage cuts and privatisation); and it has failed to comprehend the anger felt at mass immigration, which has increased the pool of readily available cheap labour.

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June 10, 2018 Posted by | Economics, GeoPolitics | , , , , , , | Leave a comment

Cutting Out the US Dollar: Russia & China Boost National Currencies Trade

  • Cutting Out the US Dollar: Russia & China Boost National Currencies Trade
    by https://www.rt.com/
    Moscow and Beijing have agreed to raise the share of ruble-yuan trade settlements, in a joint agreement signed by Russian President Vladimir Putin and Chinese leader Xi Jinping on Friday.

    The document envisages “further strengthening of the Russian-Chinese cooperation in the financial sector, promoting increase of the share of national currencies in trade payments, investments and financing, expanding collaboration in such fields as payment systems and insurance.”

    The two leaders agreed to raise trade turnover and further improvement of its structure, searching for new growth areas and collaboration in trade and economic cooperation. President Putin said Russia-China trade turnover could hit $100 billion by the end of this year.

    According to the document, the sides also plan to “boost efforts aimed at harmonizing strategies, programs and measures to develop national economies and particular sectors.”

    They also want to “create favorable environment for Russian and Chinese enterprises; jointly promote big projects in accordance with subjectivity principles of companies, the market-oriented approach, commercial-based work and observance of global practices; and sustainably expand the scope and raise the level of Russian-Chinese investment collaboration,”as well as to create favorable conditions for trans-border bond issuance.

    read more.

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June 10, 2018 Posted by | Economics | , , , , , , | Leave a comment

Something Big Is About To Happen With Gold, And It’s Not What You Think: Jim Willie

June 9, 2018 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Nomi Prins: Central Bank-Inspired “Major Credit Squeeze” Will Trigger Next Crisis

Click on image for MP3 audio interview.

  • Nomi Prins: Central Bank-Inspired “Major Credit Squeeze” Will Trigger Next Crisis
    by Tyler Durden, https://www.zerohedge.com/
    For all the talk about tapering (in both the US and Europe), the Federal Reserve has actually done remarkably little to reduce its balance sheet. And in an interview with Macrovoices Erik Townsend, former Wall Street executive Nomi Prins expands upon some of the same themes she covered in her latest book, “Collu$ion: How Central Bankers Rigged the World”.

    As Prins reminds us early on, the Fed and other central banks have expanded their balance sheets by more than $20 trillion, and despite all the chatter about withdrawing stimulus and letting its balance sheet roll off, the Fed’s balance sheet has only shrunk from $4.5 trillion to $4.3 trillion.

    read more.

http://www.wnd.com/2008/03/59405/

Click on image for article.

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June 9, 2018 Posted by | Economics | , , , , , , , , , , , , | Leave a comment

Italy’s Proposed Parallel Currency Is The Biggest Threat To The Eurozone. The Global Economy is Nearing “The Great Reset”

  • Italy’s Proposed Parallel Currency Is The Biggest Threat To The Eurozone
    by , https://www.forbes.com/
    I think the global economy is nearing what I call “The Great Reset.”

    My thesis is that over the next decade we will endure increasingly damaging debt crises that culminate in a coordinated global default. There are limits to how much leverage the world can handle, and I think we are already beyond them. And that is before we have a global recession. The only question now is how we will manage the collapse.

    I previously quoted former BIS Chief Economist William White on how this will all unfold. Here’s his key point again.

    … the trigger for a crisis could be anything if the system as a whole is unstable. Moreover, the size of the trigger event need not bear any relation to the systemic outcome. The lesson is that policymakers should be focused less on identifying potential triggers than on identifying signs of potential instability.

    Bill says the financial system is so fragile that practically anything could trigger a crisis. Better to watch for signs of potential instability. And one of the hot spots today is Italy.

    Parallel Currency
    Italy’s new government, an unexpected coalition between two populist parties, could blow up the fragile trust that keeps Europe together. And the leading parties may even be planning for it.


    read more.

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June 9, 2018 Posted by | Economics | , , , , , , , | Leave a comment

Ron Paul On The Coming Dollar Crash, Cashless Society, Cryptocurrencies, Trump & The Deep State!

  • Press For Truth Published on May 29, 2018
    The crash of the dollar is not a matter of if…but when! The modus operandi for the inner cabal of the global elite is and always has been to provide order out of chaos…sometimes the chaos happen organically and sometimes it has to be created. Money has always been used as their greatest mechanism for control ever since the introduction of usury in the ancient world. But here in the 21st century what’s Donald Trump’s roll in all of this? Is he being set up top take the fall or is he working with the deep state to ensure that that the crash of the dollar happens? In this video Dan Dicks of Press For Truth speaks with Dr. Ron Paul of The Liberty Report to get his views on the coming dollar crash, the idea of a cashless society, cryptocurrencies as a potential hedge and whether or not Donald Trump is a tool of the deep state. They also discus the principles of anarchism and how big or small should governments be..
http://www.newdawnmagazine.com/Article/A_Global_Central_Bank_Global_Currency_World_Government.html

Click on image for article.

https://socioecohistory.wordpress.com/2013/06/06/trevor-aaronson-inside-the-fbis-manufactured-war-on-terror/

Click on image for article.

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June 8, 2018 Posted by | Economics, EndTimes, GeoPolitics | , , , , , , , , , , , | Leave a comment

FED UP: An Insiders Take on Why the FEDRES is Bad for America — Lynette Zang & Danielle DiMartino Booth

  • ITM Trading Published on Jun 6, 2018
    Lynette Zang Interviews Danielle DiMartino Booth on her book Fed Up, along with a diversity of topics ranging from Gold and Silver, the coming Crash, Rescission, and Financial Reset. They also get into the Central Banks, the Federal Reserve, US currency, the Chinese Yuan, Global Markets, Derivatives, the Bond Market, 2018, the immediate future, and so much more…

    Resources from Danielle DiMartino Booth:
    FED UP BOOK: https://www.amazon.com/Fed-Up-Insider…

    https://quillintelligence.com/
    https://twitter.com/dimartinobooth

http://www.wnd.com/2008/03/59405/

Click on image for article.

http://www.stopthecrime.net/Henry-Makow---Illuminati----(2008).PDF

Click on image for pdf E-book.

http://www.stopthecrime.net/Henry-Makow---Illuminati----(2008).PDF

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June 7, 2018 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , , | Leave a comment