The unfolding debt drama in Russia, Ukraine, and the EU states of Eastern Europe has reached acute danger point. If mishandled by the world policy establishment, this debacle is big enough to shatter the fragile banking systems of Western Europe and set off round two of our financial Götterdämmerung. Austria’s finance minister Josef Pröll made [...]
Entries from January 2010
European meltdown?
January 28th, 2010 · No Comments
Tags: Economics
That set of rackets had a limited life span
January 3rd, 2010 · No Comments
Industrial economies are still at the mercy of peak oil. This basic fact of life means that we can’t expect the regular cyclical growth in productive activity that formed the baseline parameters for modern capital finance – meaning that we can’t run on revolving credit anymore because growth simply isn’t there to create real [...]
Tags: Economics