Saturday, 25 January 2014

US 'Recovery' Going Global......................from Rico

Only days ago Venezuela devalued its currency by about 45%.

- Now the Argentine Peso is tanking. Along with their economy.

It looks like the American "recovery" is spreading.

- Going global.

Let's look past the Bieber headlines and the pre-Superbowl hype.

- Brazilian stocks tanked last Thursday, while Japan's stocks fell by the most in seven months.

- The Ukraine is ripping itself apart.

- China may be in the early days of a bank run.

- The Turkish Lira is collapsing.

- Unemployment in France is at a 16-year high, and has exceeded 26% in Spain.

But to read the Lame Stream Media headlines you'd be forgiven for assuming that all is well in Tralfamadore, and your favorite Central Bank has things well in hand, and everything will be OK.

- Actually MORE than OK. Bloomberg just reported that Jamie Dimon's pay has been increased from $11 million to $20 million per year. Huzzah for the recovery!

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