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Europe Takes the Other Road

by John Rubino on June 14, 2010

On its long journey to the land of bankruptcy, the Western world recently arrived at the last and most important crossroad. One branch led to a 1930s-style collapse under the weight of already-accumulated debt, while the other led to hyperinflation, as printing presses ramp up to stave off collapse. The U.S. didn’t even slow down; [...]

“440 Million Europeans Have Just Joined a New Country”

by John Rubino on May 16, 2010

GlobalEurope Anticipation Bulletin (GEAB), a European newsletter that “brings you its unique analyses on the upcoming stages of the collapse of the world order created after 1945, as well as numerous strategic recommendations for your decisions in the political, economic and financial fields” is out with one of its typically provocative theses: That the Greek [...]

Europe Delays the Inevitable

by John Rubino on May 10, 2010

While working on a post about what a waste the European bailout of Greece will turn out to be, I found this from Hussman Funds’ John Hussman, who comes at it from an interesting angle: Greek Debt and Backward Induction On Sunday, the IMF approved its 30 billion portion of the 110 billion euro bailout [...]

China and Germany: The Perils of Vendor Financing

by John Rubino on February 26, 2010

In response to Why Would Anyone Buy a Spanish Bond?, reader RAID 3000 pointed out that the U.S. has far more serious problems than Europe (no argument there!) and included a link to LEAP2020, a European site doing great work on this subject. One of its articles contained the following chart: This got me to [...]

Why Would Anyone Buy a Spanish Bond?

by John Rubino on February 25, 2010

With Greece hogging the headlines, it’s important to understand that what it represents is more important than what it is. With maybe 2% of Europe’s GDP, Greece is a small economy and by itself can’t cause any real problems. But it does set a precedent for the bigger implosions that will follow. So the real [...]

Redoing the Kitchen While the House Burns Down

by John Rubino on February 15, 2010

Wall Street Journal columnist Thomas Frank is by far the most interesting part of that paper’s dull gray Op Ed page. Back in January he suggested that the world’s governments smack down those wing-nut gold bugs by selling all the gold in their central bank vaults — a plan that most gold bugs found hilarious, [...]

What Does Japan’s Implosion Mean For the Rest of Us?

by John Rubino on January 26, 2010

Standard & Poor’s is threatening to cut Japan’s credit rating, which doesn’t sound like that big a deal in a world where no one’s credit is quite what it used to be. But Japan is a special case. It’s been borrowing like crazy at rates two or so percentage points below what the U.S. pays [...]

Death Spiral Revisited

by John Rubino on October 9, 2008

Back in mid-2007 I posted a column titled “Death Spiral” that made some (for that time) extreme predictions. Here are the last few paragraphs: Anyone who thinks the Eurozone welfare states will maintain their composure with the euro at, say, $1.50, simply doesn’t understand how democracy works in this late, decadent stage of its evolution. [...]

 
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