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They are ripping Greece apart.
Greece Shutting Down State Broadcaster to Cut Costs
In a surprise move, Greece's conservative-led coalition government said Tuesday that it would shut down the state broadcaster as part of a cost-cutting drive imposed by the country's foreign creditors, prompting protests from labor unions and the government's increasingly alienated junior partners, which said they had not been consulted.
Describing the Hellenic Broadcasting Corporation, known as ERT, as a "modern-day scandal" and "a unique case of lack of transparency and waste," a government spokesman, Simos Kedikoglou, said ERT would stop broadcasting at midnight on Tuesday and reopen soon as a "modern state organization" with a fraction of its 2,900 employees.
http://www.nytimes.com/2013/06/12/world/europe/greece-state-broadcaster-net.html?_r=1&
"Just six short months ago (before GGBs rallied 119% and the Athens Stock Index 53%), the EU and IMF agreed on Greek Debt/GDP targets, pronounced the nation "fixed", and went on winter vacation. Well, surprise, the hockey-stick of expected GDP has not come to pass and now, as Der Spiegel reports, the IMF is refusing to participate in further rescue programs for Greece unless financing for the nation is secured for the next 12 months – in other words -a new haircut for Greece will be required to cover the EUR4.6 billion funding shortfall."
http://www.zerohedge.com/news/2013-06-09/imf-says-another-greek-bailout-necessary
@L0gg0l: RT @IrateGreek: #Greece The signal of #ert is going off air in various parts of the country. #rbnews
@L0gg0l: SYRIZA'S TSIPRAS SAYS 'COUP D'ETAT' TAKING PLACE IN GREECE AFTER GOVERNMENT SHUTS DOWN STATE TV
@L0gg0l: POLICE ENTERS GREEK STATE TV BUILDING, CUTS OFF TRANSMISSION (via @thistlejohn)
@jameschappers: Greek Government's decision to send in police to close ERT, their equivalent of BBC, risks sweeping Syriza to power and shattering eurozone
James Chapman (Mail)@jameschappers3 min
Greek Government's decision to send in police to close ERT, their equivalent of BBC, risks sweeping Syriza to power and shattering eurozone
A Greek State Broadcaster Is Covering Its Own Demise Live As Austerity Forces It To Go Off The Air
http://www.businessinsider.com/greek-broadcaster-ert-to-shut-down-2013-6
@L0gg0l: RT @dianalizia: state tv staff says will continue broadcasts over the internet at
@L0gg0l: BBC SIGNAL SWITCHED OFF IN GREECE AFTER STATE TV SHUTDOWN
Gregor Peter@L0gg0l32 s
BBC World, Deutsche Welle, Parliament TV, Cypriot TV signal cut after Greek state TV shutdown
PIGS how illuminati call Portugal, Italy, Greece, Spain: why are "far left" leaders every day on TV repeating the broken record?
PIGS: how illuminati call three former colonial empires together with Greece
Portugal, Spain and Italy are three former colonial empires that illustrate the neo-colonial end time paradox (1):
- after being first neo-colonised, they now move peacefully or without organized resistence from colonialism to colonial slavery;
- their former colonies move from neo-colonialism to finally becoming truly independent.
The illuminati openly call them PIGS, together with Greece, supposedly in reference to the first character of each one, with Ireland also included not changing anything: PIIGS.
Another End Time Paradox: before the slaughter, PIGS are [extremely] starved NOT fattened
PIGS are the first victims of unprecedented colonial plunder of national assets.
This process already nears the utter limits in Portugal, closely followed by Spain.
Under the cover of a totally forged "debt", the key assets are transferred to the illuminati.
Plundered assets, packaged as illuminati joke "to pay the sovereign debt", include:
- infrastructure that previously nobody would dare imagining to be NOT owned by the state, from energy to highways;
- most valuable real estate, from downtown commercial areas and best located hotels to the most productive agricultural areas in Europe;
- maritime waters, with national fishermen forced to give up their work to let foreigners have the last catches;
- gold reserves;
- pension funds, also under the cover of bankrupcy of banks.
http://www.scam.com/showthread.php?t=207638
Luis
Original Page: http://feeds.marketwatch.com/~r/marketwatch/bulletins/~3/_rkCusyoK3A/bulletinredir.asp
Japan Is Falling
Down nearly 2%.
No surprise here.
Japan is falling again, following the violent strengthening of the yen during the middle of the day today.
The Nikkei is off 1.76%.
Japan Officially Enters A Bear Market
In basically just over 2 weeks, Japan has gone from the hottest market in the world to a bear market.
With today's early dive, the Nikkei is now 20% off its highs, which is the technical definition of a bear.
http://www.businessinsider.com/japan-officially-enters-a-bear-market-2013-6#ixzz2Vy9jhZIJ
Australia stocks dip into correction mode
Australian stocks fell Wednesday, in step with losses overnight on Wall Street and in the region fueled by worries that central banks won't provide more economic stimulus. The S&P/ASX 200 AU:XJO -0.85% was down 0.8% to 4,721.40, but an intraday low at 4,717.40 marked a 10% decline since the benchmark's most recent high on May 15, which is considered a technical correction.
Greek Stocks Enter Bear Market As Privatization Program Crashes But Does Not Burn
"It all began with Greece," and as Mark Grant notes today, "somebody, somewhere is going to take a hit." It appears the 'news' is piling up thick and fast in the 'islands' nation. As Reuters reports, Greece did not receive any binding bids for natural gas producer DEPA. This was part of the asset-sale program demanded by the TROIKA, with Hellenic Petroleum's sale later in the year now potentially on hold. The sad truth is that the country cannot pay their bills, cannot pay their pension obligations, cannot fund social services and is just about out of money to even run their government. The reality is; they are bankrupt again and there is no way out without some form of debt forgiveness and more money. Debt forgiveness, alone, will not cut the mustard now by itself and some kind of end game may well be near. That is increasingly reflected in 2012′s no-brainer trade as GGBs are now back below 60 and down over 10% from their highs and the Athens Stock Index just entered bear market territory, down 20% from its highs.
Emerging Equities Decline as Brazil Enters Bear Market
Emerging-market stocks tumbled as Brazil's Ibovespa (IBOV) became the first of the major developing-nation indexes to enter a bear market amid concern that global central banks will pare economic stimulus measures.
The Ibovespa closed 21 percent below this year's high , led by a plunge in Brazilian billionaireEike Batista's OGX Petroleo & Gas Participacoes SA and LLX Logistica SA. The MSCI BRIC Index slipped for a 10th day, the longest slide since at least January 1995. Russian shares dropped to a one-year low as commodity producers slipped. Qatar and the United Arab Emirates were upgraded to emerging-market status at MSCI Inc., while Greece lost its classification as a developed market.
The last time this happened, tech stocks crashed 80%
Little-followed speculative indicator hits levels not seen since February 2000…
CLICK ON CHART TO ENLARGE
Penny stock volume as a percentage of Nasdaq volume became a very large percentage back in Feb of 2000, reflecting that a high level of speculative trading was taking place. In the next few years the Nasdaq 100 lost over 80% of its value!
Recently Penny stock volume as a percentage of Nasdaq volume took a very sharp increase, surpassing the highest level ever, which took back in 2000 at the Dot.com highs!
Is this the holy grail of indicators? No!
I do feel investors should be aware of this, especially when Margin debt levels are at levels only seen one other time in history, which happened to be at the same time Penny stock volume hit highs back in 2000!!! (See debt levels here)
Will it be different this time? I suspect it will! Even if its one third of the issue it was last time, that might be enough for a few investors!!!
Equities outside the U.S. are sending a message
For those of us who follow global asset classes, it has been evident for quarters on end that majority of the world's stock markets peaked in 2011.
[U]nlike the U.S. stock market's recovery to new highs, the rest of the world has not been as fortunate. It is worth noting that cumulatively, equity markets outside of the U.S. have not yet bettered their May 2011 peak.
Equity indices within the commodity producing countries have been one of the worst performers since the early parts of 2011. If we look at the chart [below], we can notice that equities in…
http://theshortsideoflong.blogspot.com/2013/06/equities-outside-us-are-sending-message.html
CHART OF THE DAY: Hedge Funds Are Finally Getting Out Of Stocks
After holding on for seven weeks.
The chart below shows the big reversal in hedge fund buying last week.
Business Insider http://www.businessinsider.com/baml-private-client-flows-june-8-2013-6
…
Fast forward to our current situation. The S&P 500 is at news highs and yet the relative return line remains within a 2-year downtrend — not good.
http://chartsetcetera.blogspot.com/2013/06/a-chart-that-keeps-me-up-at-night.html
Jeffrey Hirsch: Economy Poised for 'Deceleration'
The U.S. economy is poised for a period of deceleration, according to Jeffrey Hirsch, the editor-in-chief of Stock & Commodity Trader's Almanacs.
http://www.moneynews.com/Economy/Jeffrey-Hirsch-Economy-Growth-Fed/2013/06/11/id/509319
Jim O'Neill: Get Used to US Bond Yields Nearer to 4% Than 2%
Investors should get used to U.S. Treasury yields rising toward 4 percent as the 30-year bull market in bonds comes to an end, according to Jim O Neill, former chairman of Goldman Sachs Asset Management.
http://www.moneynews.com/FinanceNews/Jim-O-Neill-Bond-Treasury-Yields/2013/06/11/id/509206
Bond Market Crash Will Strike By 2016, Expert Predicts
Not only is a bond market crash inevitable, but it will hit sooner than many think – by 2015 or 2016 at the latest, according to Michael Pento, president of Pento Portfolio Strategies.
http://moneymorning.com/2013/05/03/bond-market-crash-will-strike-by-2016-expert-predicts/
Global Recession Likely in 2014
State Street Bank & Trust's Fred Goodwin discusses the likelihood of a global recession in 2014. He speaks with Susan Li on Bloomberg
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Why is the Obama recovery the weakest recovery since the Great Depression? According to a new study by the Federal Reserve Bank of San Francisco, it is not because the federal government failed to borrow and spend too little during the height of the economic downturn.
In fact, the San Francisco Fed reports that "federal fiscal policy was unusually expansionary during the Great Recession" thanks largely to the "American Recovery and Reinvestment Act, the economic stimulus program passed by Congress in 2009. As a consequence, federal government saving in the recession fell faster—that is, the deficit grew faster—than our historical norm would predict."
Original Page: http://investmentwatchblog.com/san-francisco-federal-reserve-obama-tax-hikes-are-slowing-recovery/
Original Page: http://g1.globo.com/economia/noticia/2013/06/ministerio-publico-do-rio-vai-apurar-possivel-irregularidade-na-petrobras.html
Obama orders US to draw up overseas target list for cyber-attacks
Exclusive: Top-secret directive steps up offensive cyber capabilities to 'advance US objectives around the world'
http://www.guardian.co.uk/world/2013/jun/07/obama-china-targets-cyber-overseas
Security Expert: Cyberwar with China Is the New Cold War
The United States should treat the growing cyberthreat from China as the new Cold War, recommends John Pescatore, director of emerging security trends at the SANS Institute.
The United States should counter-attack Chinese cyberattacks in order to demonstrate to China its cybercapabilites, he told CNBC.
Pescatore compares the current relationship between China and the United States to the Cold War between the United States and the Soviet Union.
http://www.moneynews.com/Economy/Pescatore-China-cyber-war/2013/06/07/id/508650
