The US Federal Reserve System (Fed) has announced that it will raise interest rates. They have been at zero since the start of the pandemic and since the last recession in 2009, they hit their highest level in 2019. But even in 2019, they were very low, with an effective rate of about 2.5%.
The documents indicate that the US intelligence service was more active in Germany than in any other country in the European Union.
So, dear reader, please be careful which bank you chose and if you, or your business, have a bank account over €100,000.
In recent months, economic confidence has worsened and unemployment has risen over 12 percent across the currency zone. But the real problem is youth unemployment.
Let’s begin with currency wars once again. Why? It is a real current issue.
Spanish economy is now producing nothing else but promises. Why to lock trash bins and how many policemen are needed against one disabled person? IMF against the EU
The Hot Wednesday wasn’t that hot after all. Greece denies need for the third bailout package. Spaniards don’t want any bailouts either. Rompuy has a plan. Americans don’t want to be left behind. The Judgment Day came, but it didn’t bring any shocking surprises. Bailout mechanism is not against the Constitution in Germany and the parliament can ratify it. The opponents got a little gift at least, the court forbade automatic ESM increasing over the initia capacity,…
Unlimited purchases of ECB bonds? New dollars from FED? Maybe… Greece wants more time. Time is money. A bit of tension was brought into the holiday boredom
Central banks still don’t provide monetary opium, how long will the current illusions last without it? New taxes and economic growth. Milton Friedman would be 100 years old. Crisis is 5 years old. Last week we challenged the governor of the ECB Mario Draghi, who promised the moon to the markets, to stop talking and to show the money instead (Show Me the Money!). This week it turned out that there is no money to cover…
Why the zombie banks aren’t stressed by stress testing, about Austrian Japanese, and about how difficult life the Spanish banks and especially Spanish bankers have. And that Trichet, even though he uses bad economic theories and non- functioning economic models, doesn’t regret anything. When it comes to solving the crisis in Europe, many people use the example of the USA, where central bank during the crisis provided the whole financial sector with guarantees, which apparently…