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Tag Archives: Greece’s government

Visualizing $63 Trillion Of World Debt

If you add up all the money that national governments have borrowed, it tallies to a hefty $63 trillion. Courtesy of: Visual Capitalist In an ideal situation, governments are just borrowing this money to cover short-term budget deficits or to finance mission critical projects. However, as Visual Capitalist's Jeff Desjardins notes, around the globe, countries have taken to the idea of running constant deficits as the normal course of business, and too much accumulation of debt is not healthy...

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Fleecing Taxpayers Won’t Fix The Pension Crisis

Authored by Nick Giambruno via, Public pensions are a financial time bomb... and I see two ways to profit from the explosion. In the US, unfunded public pension liabilities have surpassed $5 trillion. And that’s during an epic stock and bond market bubble. Predictably, the government’s go-to “solution” is already making matters worse. At first, distressed states simply increase taxes. The state comptroller of Illinois—the most financially troubled state thanks to its...

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Euro Slides After Greece Hints At Default

EURUSD is sliding in early Asian trading after Greece's government is reportedly planning to forego its next bailout payment (of around EUR7bn) if no debt relief is offered by creditors (thus leaving it likely to default on its next round of repayments). Bloomberg reports, Greece’s government preparing to possibly go without next bailout payment if creditors don’t agree on debt relief for the country according to German newspaper Bild (without saying where it obtained the information). While...

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Dear IMF, Please Put Greece Out Of Its Misery

Submitted by Michael Shedlock via, For the umpteenth time, the IMF has warned that Greece cannot meet fiscal targets set by its creditors. And once again, the IMF insists that it will not be a part of the “Troika” unless the goals on Greece are realistic. History suggests the IMF will cave in to Germany and agree to some half-baked plan (make that 1/8th baked plan) that will supposedly put Greece back on track. Such nonsense has been going on for years. Mercy, Please! [It's worse...

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