Iran project-war is an excuse, and not a reason for high oil prices
Every day you will hear tens of comments that the war risk in Middle East and possible Israel+USA strike on Iran is moving up the oil prices that at the moment are reaching record highs in euro and are close to new records in dollars. Generally this logic is true. Political risks do influence markets and war risks influence markets strongly. But besides from the risks something other is needed and is more important for the prices. That is the money supply and the general inflation situation. Without enough money on the market, even an alien invasion will not be able to skyrocket the oil prices.
Read more...Spain stopped reforms before starting them
Spain has not even started the real reforms needed to revive its economy, and the government already announced that the reforms will be stopped. This is the real meaning of the prime-minister comment that country will not meet the deficit target for 2012. As a part of resolving European debt crisis, EU members decided to implement strict budget rules including a 3% max of sovereign deficit.
Read more...Greek bailout - part 2 of collective madness
What is my opinion on the new Greek bailout?
It is a clear bullshit. The so-called European solidarity is a parody of solidarity. What does the word "solidarity" means? Solidarity is when a stable and richer person helps a person in problem that is much poorer. The purpose of the solidarity is to help the poor to become more rich and stabilize himself.
