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Staggering Unemployment Projected for Greece and Spain

My God, look at Greece’s trajectory. That thing isn’t slowing down. Since April 2012, Greek youth unemployment has grown by about one percentage point a month. At that rate, it would pass 70 percent in early 2014.

It is suddenly not insane to imagine a youth unemployment rate of 70 percent in

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Attempted Helicopter Prison Escape Failed in Greece

copter-escape

A helicopter swooped down on a prison courtyard Sunday as armed men on board fired on guards and lowered a rope to help a convicted killer make his fourth attempt to escape from a Greek prison.

But the plot was foiled after the prisoner was shot and the chopper forced to land in

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Nearly all Greek Citizens get Hacked

hacked

A computer programmer has been arrested in Greece for allegedly stealing the identity information of most of the country’s population.

Reuters reports that the 35-year-old was found in possession of “nine million data files containing identification card data, addresses, tax ID numbers and licence plate numbers”, which he was also suspected

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Nazi Party Rising in Greece

gulam hussein

gulam hussein

GULAM HUSSEIN, a 20-year-old Afghan with a bushy brush cut, hates Greece. He’d leave if he could—even if that meant returning to the imperiled village in eastern Afghanistan that he fled a decade ago. “Anywhere but Greece,” he told me one afternoon late this summer in Athens. “I’d heard it was bad

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Eurozone in Shambles

spains-troubled-basque-country-and-navarra-province-march-against-austerity-measures-today

People from Spain’s troubled Basque country and Navarra province march against austerity measures today.

Photos Of The Giant Protests Rocking Greece And Spain

Discontent in Spain and Greece is rising.

Greece’s two largest labor unions went on strike today, disrupting flight and train services and forcing hospitals to depend on

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A World on the Edge of War

world-at-war

Here is a summary of where the world stands:

Unable to reach a compromise over the weekend, South Africa is now in an all out labor strike, with the police again firing rubber bullets at miners with lethal escalation guaranteed Back from vacation, the once again penniless citizens of More…

Corporate America Prepping for Greek Euro Disaster

Bank of America and Merrill Lynch has looked into filling trucks with cash and sending them over the Greek border so clients can continue to pay local employees and suppliers in the event money is unavailable. Ford has configured its computer systems so they will be able to immediately handle a new Greek currency.

No

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Despite Election, Greece and Eurozone are Doomed

The election results from Greece are in and the pro-bailout forces have won, but just barely. It is being projected that the pro-bailout New Democracy party will have about 130 seats in the 300 seat parliament, and Pasok (another pro-bailout party) will have about 33 seats. Those two parties have alternated ruling Greece for decades,

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Some Greeks Adopt Barter Economy

The ever-deepening eurozone financial crisis has forced many Greeks to rely on barter-style economies.

“I want to use euro but it’s very expensive and I believe trade is better,” said Volos resident Artemis Zafiriou of in a recent NBC News report.

The town of Volos is not special. It’s one of the many

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Warnings of Lehman 2.0

By John R. Taylor, Jr. Chief Investment Officer FX Concepts

Lehman 2.0

Global investors either have extremely short memories or they are far too concrete, as my wife the psychologist would say. Saying that Greece is not a bank but a country means nothing. Almost all Europeans argue that a default by the Greek government

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Farage Predicts Horror in Greece

Farage On Greek Chaos: “You Ain’t Seen Nothing Yet”

Outspoken and oracular MEP Nigel Farage bombards his fellow unelected officials with ‘you can’t handle the truth’ comments as he points out the total contradiction that is the European Parliament’s (and ‘Puppet Papademos‘) view of how things are going in their democracy relative to the reality

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Will Greece be Overthrown

The U.S. Central Intelligence Agency warned in a report that the tough austerity measures and the dire situation could escalate and even lead to a military coup, according to a report by Germany’s popular daily Bild.

The newspaper said the CIA report talks of a possible military coup if the situation becomes more

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Johnson & Johnson Settles Bribery Charges

DePuy International Ltd. unit agreed to pay 4.8 million pounds ($7.9 million) to end a U.K. probe into allegations it paid bribes to Greek officials to win contracts to supply orthopedic products.

DePuy “unlawfully obtained” 14.8 million pounds from sales of orthopedic products to the Greek public health system over eight years, the Serious Fraud

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U.S. Headed for “Greece Like” Economic Disaster

Sen. Judd Gregg (R-N.H.), along with other members of Congress and leading financial experts, is warning that the United States is in danger of being in the same dire situation as Greece – national bankruptcy — in seven to 10 years unless the federal government radically curtails spending.

Last month, Gregg, the ranking Republican

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