Global Economic Crisis

The so-called “Bolivarian Revolution,” the term used by the left-wing regime in Caracas to describe the social and economic experiment they have imposed on Venezuela for the last 15 years, has made the late Venezuelan leader, Hugo Chavez, and his hand-picked successor, President Nicolas Maduro, the darlings of left-leaning pundits. But the charade that is the Venezuelan economy, built on the world’s 5th largest proven oil reserves and official economic statistics that have no connection with reality, appears to be on the verge of collapse. Rocketing inflation, a currency rapidly losing its intrinsic value, and an economy that cannot even produce  or purchase enough toilet paper for its citizens, combined with one of the worst murder rates in the world, have brought the masses, in the tens of thousands, into the streets.

The so-called progressive regime in Venezuela has reacted to the public protests in a manner not dissimilar to other repressive regimes; brutal suppression by the authorities , including the use of live ammunition, and arresting a key opposition figure  and other “troublemakers.”

An excellent analysis of the economic and political chaos that is occurring in Venezuela appeared recently in the Toronto Globe and  Mail,  written by Stephanie Nolen  and entitled, “With oil economy running on fumes, Venezuela ‘on the edge of the apocalypse.’ ” The link to the article is here; http://www.theglobeandmail.com/news/world/venezuelas-economy-on-the-edge-of-the-apocalypse/article16845406/

If Hillary Clinton runs for President of the United States  in 2016, see the video about the book that warned back in 2008 what a second Clinton presidency would mean for the USA:

Hillary Clinton Nude

Go to YouTubePlay video Chilling video about Hillary Clinton and the 2016 presidential election from the author of the provocative book, “Hillary Clinton Nude: Naked Ambition, Hillary Clinton And America’s Demise.”

HILLARY CLINTON NUDE

The Greek debt crisis,  epicenter of the Eurozone debt crisis, has in recent months receded from the global headlines. This may have given a false impression that the Greek economic crisis has been solved.  However, official statistics just released by Athens demonstrate that Greece remains struck in a fiscal and economic catastrophe that is clearly a depression by any known measurement.

In November, the Greek jobless rate reached a record high level of 28 percent, an increase from the unemployment figures from the previous month, which stood at 27.7 percent. Most alarming, youth unemployment in Greece, defined as those seeking jobs under the age of 25, now stands at  a staggering and almost incomprehensible 61.4 percent.

To understand how disastrous the unemployment rate is in Greece, just compare the current level of 28 percent with the jobless rate prior to the onset of the nation’s debt crisis in May of 2010, which stood below 12 percent. Official  talk from the government in Athens is that thanks to the skill and brilliance of Greek politicians, the country’s economic woes are on the mend. Reality says something very different.

If Hillary Clinton runs for President of the United States  in 2016, see the video about the book that warned back in 2008 what a second Clinton presidency would mean for the USA:

Hillary Clinton Nude

Go to YouTubePlay video Chilling video about Hillary Clinton and the 2016 presidential election from the author of the provocative book, “Hillary Clinton Nude: Naked Ambition, Hillary Clinton And America’s Demise.”

HILLARY CLINTON NUDE

With Ben Bernanke  now gone (but not forgotten), Janet Yellen replaces him in the role of being the most important central banker on the planet. However, Ms. Yellen does not begin her role as the first woman to serve as chair of the U.S. Federal Reserve at the most auspicious of times.

In its latest version of quantitative easing, the Fed had been purchasing 85 billion dollars a month of bonds with money it prints at will, seeking to keep the economy afloat and interest rates artificially low. However, even the architect of this program, Bernanke, knew that this avalanche of manufactured liquidity was unsustainable in the long term. Thus, the Fed began a process known as “tapering,” in effect, slowly winding down the bond buying program and hope and pray that the world financial system doesn’t come apart at the seams.

Thus far, the bond purchasing program has been modestly reduced, initially to 75 billion dollars each month, with an announcement of a forthcoming reduction to 65 billion dollars per month. Despite these modest efforts at tapering its vast money printing operation, the Fed’s moves have already initiated global panic, reflected in wild volatility in equity exchanges all across the world. Stock markets, bloated by easy money printed by the Federal Reserve, are showing their fragility even during this initial, early period of monetary tapering.

Even more worrisome than the wild swings on Wall Street and many other stock markets has been the impact of tapering on major emerging markets. At its peak, quantitative easing had the effect of putting into the hands of major investors cheap money, but with virtual zero interest rates at home . The result of all this was to send this horde of cheap  U.S. dollars overseas, where a higher rate of return was offered by riskier emerging markets. However, the onset of tapering points to higher interests rates in the future for the U.S. economy, leading to the start of a process of repatriation of those cheap dollars back to the United States. As the process begins, emerging markets are already feeling the pinch, with nations such as Turkey, Brazil and South Africa beginning to incur fiscal pressure, leading to significant runs on their currencies concomitant with a rise in interest rates.

Fed Chair Yellen will now face the daunting task of unwinding the monetary mess created by her processor, supposedly for the purpose of saving the U.S. economy from the mistakes made by past policymakers, including former Fed Chairman Bernanke. As we are witnessing with the increasing fragility of emerging markets, the future policies of Yellen will have a decisive impact on the entire global economy, for good or ill.

If Hillary Clinton runs for President of the United States  in 2016, see the video about the book that warned back in 2008 what a second Clinton presidency would mean for the USA:

Hillary Clinton Nude

Hillary Clinton Nude

HILLARY CLINTON NUDE