Cyprus is about to prove what anyone with common sense already knew, that Greece will not be the only country requiring haircuts on sovereign bonds.
As 2012 ends, the Greek debt crisis continues. In December, the Greek government began restructuring its debt for the second time this year.
FERTILITY IN AMERICA has been declining for years. According to the Pew Research Center, the nation's birth rate hit an all-time low in 2011 – just 63 births per 1,000 women of childbearing age. It was almost twice as high – 123 births per 1,000 women – at the peak of the Baby Boom in 1957.
The incomparable Walter Russell Mead, writing in the American Interest, offered a glimpse into the coming dystopia: "Things are getting worse in San Bernardino. The city filed for bankruptcy earlier this year, but its financial situation has continued to deteriorate. And now with what promises to be a heated court battle over payments to the state pension fund in the offing, further cuts are likely.
This is not only good news, it's excellent news. Half the EU budget is dedicated to a preposterous system of crop supports as noted in my post Common Agricultural Idiocy.
Anders Borg, Sweden's finance minister, has warned it is 'probable' that Greece will leave the common currency.
An example of what happens when governments' goal is to increase the dependent class.
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