22 Reasons Why We Could See An Economic Collapse In Europe In 2012

Will 2012 be the year that we see an economic collapse in Europe?  Before you dismiss the title of this article as “alarmist”, read the facts listed in the rest of this article first.  Over the past several months, there has been an astonishing loss of confidence in the European financial system.  Right now, virtually […]

Pictured: The credit crunch tent city which has returned to haunt America

While John Roughan tells us that there is no crisis in New Zealand while the rest of the world is in total economic collapse collapse and that all we have to do to sail past the systemic collapse that is decimating every economy New Zealand exports to is to firmly believe that it is not […]

Are the Greek riots a taste of things to come?

Greece’s riots are a sign of the economic times. Other countries should beware, says Peter Popham in Athens After firing 4,600 tear-gas canisters in the past week, the Greek police have nearly exhausted their stock. As they seek emergency supplies from Israel and Germany, still the petrol bombs and stones of the protesters rain down, […]

Credit crisis finally hits the real economy in US

Optimists who believed the effects of the credit crunch might be confined to Wall Street were facing up to reality yesterday, with a slew of new figures from the real US economy. As investors brace for the third-quarter earnings reporting season, a number of retailers gave an early glimpse at their performance in September, when […]

Families forced to live in sheds and cars as credit crunch bites

A couple are sleeping rough in an allotment shed after their home was repossessed. Debbie Galloway, 31, and her husband Philip, 42, lost their home after they failed to keep up mortgage payments on their three-bedroomed semi-detached house. The couple, the latest to have fallen foul of the credit crunch, have resorted to sleeping in […]

Banks face $10bn monolines charges

Oh oops John Key’s Bank Merrill Lynch just lost it’s triple A rating. I guess all that gambling with Bonds and derivatives the last 15 years and loosing all that money came around and bit them in the ass. Oh more oops, John Key worked for Merrill Lynch from 1995 until March 2001. During this […]

Dow down 146 on depressing data

Stocks closed lower Thursday, after a worse-than-expected report on business conditions in the mid-Atlantic region. News of a bulge in U.S. oil inventories sent oil stocks lower. The Dow Jones industrial average dropped 142.96, to 12,284.30. Boeing, Chevron and General Motors were the biggest contributors to the loss. Only three of the 30 Dow industrials […]