Facing a default to the IMF or their own people, the left-wing Grecian government is drawing up plans to give the one-finger salute to the IMF. It’s simply a no-brainer as they are planning the nationalize the country’s banking system and the return of the drachma. Needless to say, this is going to cause economic shock-waves throughout the global ponzi economies.
Australian Deposit Tax?
Interest rates on bank deposits in most developed nations are practically zero if not already negative. So, when, and not if, the government of Australia, followed by governments in Europe and the U.S., start to tax bank deposits, this will push rates into, or further, into negative territory. Remember, taxes start small and increase over time.
Jobs and GDP
In March, the U.S. economy created just 126,000 jobs when it was expecting 245,000. This resulted in…
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