Meanwhile, China recently issued a veiled threat to the United States about U.S. accusations of Chinese military cyber espionage. China told U.S. officials that continued U.S. public accusations of cyber espionage would render future bilateral discussions unproductive during recent U.S.-China talks following the release of a security firm’s report linking the Chinese military to cyber [...]
Apart from a brief period in the early 1990s, Russia’s rulers never really liked the United States. But they always respected America. Not anymore. Tom Donilon, Obama’s national security advisor, is coming to Moscow to deliver a message to Vladimir Putin. In the wake of the expulsion of USAID from Russia, a wave of repressive [...]
But these countries shared one common element: a strong Confucian family ethos. Three of Confucianism’s five key relationships are familial, led by the all-important father-son tie. In East Asia, business has often been driven by familial concerns. Hard-driving “tiger Moms” or workaholic Dads sacrificed all for the benefit of the next generation. But now that [...]
After it came to light that the majority of the mosques in Italy are controlled by the Muslim Brotherhood, Italian Interior Minister Roberto Maroni called for a moratorium on the building of new mosques until a new national law could be written to regulate the phenomenon.
According to Manes Bernardini, a politician with [...]
The only way out of the Eurozone end-game is massive debt forgiveness and a return to national currencies. The first will destroy the banks, the second will destabilize the German export economy. “Extend and pretend” is an endgame, not a fix.
Despite having described why the Eurozone is doomed on numerous occasions, I [...]
Is the U.S. government on the verge of a massive debt problem? For years, the U.S. government has been able to borrow all the money that it has wanted to at extremely low interest rates. But now many of the lending sources that the U.S. government has been depending on are drying up. Even before [...]
The Irish government has just passed its fourth budget in two years. But the drastic savings measures it contains will not help the country’s massive debt problem. Some economists are now predicting it is only a matter of time before Ireland defaults.
by Bryan Rich 07-03-10
In the past two weeks, we’ve seen China de-peg its currency from the dollar, the UK roll out historical fiscal austerity measures and Japan release details on a plan to tackle its massive debt load.
The knee-jerk market reaction to these events was positive [...]
Given our massive debt load, this fictional apocalyptic scenario’s not looking that bad
And this is before EMP hits.
So it wipes out your bank accounts. What’s in there? I mean, really. The average American household is carrying $121,953 in personal debt. What would be so bad if something goofy happened and all the [...]