«(...) In other words, just as slowly, the world is starting to grasp the bottom line: it is not the financial exposure to Russia, or the threat of financial contagion should Russia suffer a major recession or worse: it is something far simpler that will lead to the biggest harm for Europes countries. The lack of trade. Because while central banks can monetize everything, leading to an unprecedented asset bubble which if only for the time being boosts investor and consumer confidence, they cant print trade - that all important driver of growth in a globalized world long before central banks were set to monetize over $1 trillion in bonds each and every year to mask the fact that the world is deep in a global depression. Which is why we read the following report written in yesterdays Deutsche Wirtschafts Nachrichten with great interest because it goes right to the bottom line. In it Russia has a not so modest proposal to Europe: dump trade with the US, whose call for Russian costs has cost you another year of declining economic growth, and instead join the Eurasian Economic Union! From the source (...)» zerohedge/news/2015-01-04/russias-startling-proposal-europe-dump-us-join-eurasian-economic-union
Posted on: Sun, 04 Jan 2015 21:55:31 +0000