The kettle is warming on any approaching collapse
in world finances and the economy. Despite bold pledges to end Austerity by the
Syriza party of Greece, rumors of witholding debt payment ended when 460 million Euros
went to the IMF Thursday April 9th. In total Greece has 16 billion Euros due this
year to creditors; that’s 8% of their GDP. An equivalent amount would be if the US had
to pay $1.3 trillion this year; literally impossible without just printing
new money, something Greece cannot do while it’s part of the Eurozone. More than $6 billion
is due to the European Central Bank (ECB) from June to August. Greece’s economy is still
facing greater than 25% unemployment with little signs of recovery. On the war front a preliminary deal with Iran
on their nuclear program has been reached that would see Iran making drastic cuts to
its program in return for economic sanctions being lifted. We will see if this plays out;
of course Israel is not the happiest. Speaking of, both Israel & Iran are set to join China’s
Asian Infrastructure Investment Bank. In End of the Petrodollar news, China is closer
to joining the major league of reserve currencies with a deal possible later this year to include
the yuan in the International Monetary Fund’s SDR global currency. Germany supports the
addition; we will give more details later this year as the plans unfold. China has it’s own potential problems though;
the Shanghai Composite has doubled in one year giving hints of a bubble. The Hong Kong
Hang Seng market rose 10% in just two days. In U.S. focused news, the Atlanta Fed reports
GDP growth revised to 0% for the first quarter of 2015, down from a 2.3% estimate given february
13th. The US Dollar index has already recovered
back to 1% down from the recent high. For the stock market, the S&P 500 is roughly
flat in 2015 remaining at 2,090 points where it ended last December. In contrast, gold
and silver are showing a slight turnaround as well as the oil price; our estimates say
oil will not have any massives moves this year however; absent any OPEC major cut which
is not likely. In the last year the US Bureau of Labor Statistics
has added 2.1 million Americans to the �not in the labor force� category. The total
is now 93.2 million Americans. At a 320 million person population, this would put a straightforward
unemployment number well above 30%. There are 24 million more Americans not in the labor
force compared to just 15 years ago. To our North, Canada is expected to pass a
balanced budget law to return to fiscal restraint they saw before the 2008 crisis. Tune in next week for your next summary of
economic crisis news.

Tagged : # # # # # # # # # # # # # # # # # #

6 thoughts on “Greece Makes IMF Payment, $16B left – Economic Crisis News 2015-04-10”

  1. See new #EconomicCrisisNews  video; let us know what you think of the new format for

  2. I was once naive (14 Jun 2012)
    Here is me finally openly deconstructing what i knew in late 2014 about the equation in February 2015

  3. Greece made the $460 million Euro IMF payment, but they have 16 to 30 BILLION Euros due this year, will they pay? See new Economic Crisis News video summary

  4. Two things woke me up to the bail in 2.0 regime
    1) SINOPEC drilling Iceland's offshore hydrocarbons after all the ballyhoo about how "Iceland kicked out the banksters." (B.S. + wikileaks is an IntCom debriefing/acclimation op.
    2) INDYREF metricsm origins of SNP etc.
    I said it long ago and I will say it again: the EU is a NWO bloc-structure IPO

  5. Really nice tour de force overview of the prevailing macroeconomic and geopolitical vectors at play. Don't be afraid to take the codifying synthesis even further.

Leave a Reply

Your email address will not be published. Required fields are marked *