From
Newsmax:
The dollar is in a heap of trouble, says
real estate billionaire Sam Zell. And with
the United States economy in such disarray,
he sees Latin America as very attractive,
particularly Colombia, Peru, and
Chile.
"We're printing money at a staggering rate.
It all comes down to how much longer
everybody is going to be willing to take a
depreciating currency," Zell tells
CNBC.
The dollar hit a 33-month low in
late April.
"We have to address the debt issues.
The falling dollar is a vote of no
confidence of the government of the
United States."
Meanwhile, economic growth is humming
in...
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From Mish’s Global Economic Trend
Analysis:
No matter how you label it, Greece is
going to default.
Nonetheless, like an ostrich with its
head in a hole, the ECB remains in firm
denial of the obvious.
The situation is made all the more
humorous because Jean-Claude Junker, the
head of the euro-zone finance ministers,
keeps looking for words other than
default or restructuring to describe the
default that is clearly
coming.
A couple days ago Junker proposed
"re-profiling." When that went over like
a lead balloon, he trotted out the
phrase…
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It
is important to recognize that no countries
are being bailed out. The US nor Greece
are being bailed out, nor Ireland, nor
Portugal.
Rather, in the respective countries the
emergency loans serve to bail out the banks
on the backs of US, Greek, Irish, and
Portuguese taxpayers.
All the countries have to sign off on these
bailout maneuvers. Finland came close to
trashing the arrangement but conditionally
hopped on the Portugal bailout train.
However, public sentiment against more
bailouts is building in Germany, Finland,
Ireland, and other countries.
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