Global Financial Crisis - Two Views on the Subject

FT: America and Europe Sinking Together

In Washington they are arguing about a debt ceiling; in Brussels they are staring into a debt abyss. But the basic problem is the same. Both the US and the European Union have public finances that are out of control and political systems that are too dysfunctional to fix the problem. America and Europe are in the same sinking boat.

The debt debates underway in the US and the EU are so inward-looking and overwrought that surprisingly few people are making the connection. Yet the links that make this a generalised crisis of the west should be obvious... (Finacial Times, July 4, 2011 - complete article).

The Keiser Report (episode 161, July 4, 2011)

This week Max Keiser and co-host Stacy Herbert report on a no-show by buyers at the fire-sale of Greece’s national income-producing assets, and on Ben Bernanke as the Taliban of finance.   In the second half of the show, Max talks to economist Yanis Varoufakis about the bailout and austerity packages for Greece.