An overthrow of the Greek government is possible. Do not discount this possibility. Consider Michael Hudson’s idea that the entire Greece situation is a test of how far a population can be pushed, and…
Soros didn’t end up with the cash. Soros took over the trade after JPM inherited the positions. JPM is the one here, they drove MF into bankruptcy and stole a bunch of customer money. If they indict Corzine, Corzine will pull MF Global records in an attempt to show what he did wasn’t illegal. Those records will show securities fraud at JPM. How? They traded on material inside information across their “Chinese wall” between lending and trading.
Keep bleeding the patient, they’ll get better as soon as all the “bad blood” is gone. A revolution in Greece is entirely possible. How much longer will Ireland be content with all that non-public debt?
In huge areas of the south, government benefits account for over 30% of all the income in the county. I’d argue this map is vastly misleading, because it doesn’t give enough difference between over and under the national average. For example, Cook County, Ill, is under the national average at 16%, and is therefore sends money out of the county every year. But it looks really similar to many of the counties in Indiana, where almost all of them get 26-29% of their county income from the government. It’s a 12%+ difference!
He doesn’t address working “out of the house” at all. The internet makes this a huge and growing structural change to our economy that isn’t related to levels of employment. No mention of Long Only Commodity Funds. My guess: He does not know they exist or their large impact on commodity prices.