Countdown to Fina...
Follow
Find
18.0K views | +0 today
Countdown to Financial Armageddon
Tracking the final days of the debt bubble
Curated by Nick Laight
Your new post is loading...
Your new post is loading...
Scooped by Nick Laight
Scoop.it!

Did a Catfish Cause the Debtquake?

Did a Catfish Cause the Debtquake? | Countdown to Financial Armageddon | Scoop.it

An excellent article from BullionVault! 'The Japanese used to think a giant catfish caused earthquakes. He shuffled and shifted whenever the great god of Kashima forgot to keep his foot on a heavy stone holding the beast down, deep beneath the coast of Honshu, some 80 miles north-east of what was then Edo (and is now Tokyo)...

more...
No comment yet.
Scooped by Nick Laight
Scoop.it!

China warns over exports slowdown

China warns over exports slowdown | Countdown to Financial Armageddon | Scoop.it

It was kind of inevitable: China warns of "severe challenges" to its exports due to falling demand in the US and Europe and will target developing markets.

more...
No comment yet.
Scooped by Nick Laight
Scoop.it!

Ratings agency warns euro nations

Ratings agency warns euro nations | Countdown to Financial Armageddon | Scoop.it

Ratings agency Standard and Poor's puts almost the entire eurozone, including Germany and France, on "credit watch" due to the debt crisis.

more...
No comment yet.
Scooped by Nick Laight
Scoop.it!

Oxford Street closed to poor to avoid ‘crushing debt’ | NewsBiscuit

Oxford Street closed to poor to avoid ‘crushing debt’ | NewsBiscuit | Countdown to Financial Armageddon | Scoop.it

(SATIRE ALERT) Credit checks will be carried out at the Marble Arch and Tottenham Court Road ends of Oxford Street to prevent those with poor ratings, or anyone who has used Wonga.com, from spending more borrowed money in the run up to Christmas.

more...
No comment yet.
Scooped by Nick Laight
Scoop.it!

Here comes a Franco-German Bloc: Sarkozy Calls For 'Refounding' Of Europe

Here comes a Franco-German Bloc: Sarkozy Calls For 'Refounding' Of Europe | Countdown to Financial Armageddon | Scoop.it

French President Nicolas Sarkozy has called for greater integration between France and Germany to save the euro, including changing the terms of the 1999 Maastricht Treaty.

more...
No comment yet.
Scooped by Nick Laight
Scoop.it!

Bank of England's dire warning over eurozone threat

Bank of England's dire warning over eurozone threat | Countdown to Financial Armageddon | Scoop.it

Banks should prepare to withstand an "extraordinarily serious" climate, with the eurozone crisis the main worry, the Bank of England chief says.

more...
No comment yet.
Scooped by Nick Laight
Scoop.it!

Here comes the cavalry! Fed saves Europe's banks as ECB stands pat

Here comes the cavalry! Fed saves Europe's banks as ECB stands pat | Countdown to Financial Armageddon | Scoop.it

The Eurozone's banking and sovereign debt crisis  has become so dangerous for the world that the US Federal Reserve has been forced to take emergency action, acting as global lender of last resort to shore up Europe's banking system.

more...
No comment yet.
Scooped by Nick Laight
Scoop.it!

Secret Fed Loans Gave Banks $13 Billion

Secret Fed Loans Gave Banks $13 Billion | Countdown to Financial Armageddon | Scoop.it

The Federal Reserve and the big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. Now, the rest of the world can see what it was missing.

more...
No comment yet.
Scooped by Nick Laight
Scoop.it!

The Last Gasp of US Consumerism: violence mars US retail bonanza

The Last Gasp of US Consumerism: violence mars US retail bonanza | Countdown to Financial Armageddon | Scoop.it

The US holiday shopping season gets off to an ugly start with several shootings and two pepper-sprayings as bargain-hunters stampede stores.

more...
No comment yet.
Scooped by Nick Laight
Scoop.it!

Italy forced to pay record rates

Italy forced to pay record rates | Countdown to Financial Armageddon | Scoop.it

Italy is forced to pay record interest rates in a 10bn euro debt auction to borrow money for six months and for two years.

more...
No comment yet.
Scooped by Nick Laight
Scoop.it!

Portugal debt lowered to 'junk'

Portugal debt lowered to 'junk' | Countdown to Financial Armageddon | Scoop.it

Portugal has its debt rating cut by Fitch to so-called "junk" status, as the nation enters a 24-hour strike against austerity measures.

more...
No comment yet.
Scooped by Nick Laight
Scoop.it!

Ireland demands debt relief, warns on EU treaties

Ireland demands debt relief, warns on EU treaties | Countdown to Financial Armageddon | Scoop.it

Europe's plans for treaty changes to enforce fiscal discipline in the eurozone may fall foul of popular anger in Ireland unless the EU creditor states agree to share more of the pain.

more...
No comment yet.
Rescooped by Nick Laight from A World of Debt
Scoop.it!

EU Warns Greece on Bailout

EU Warns Greece on Bailout | Countdown to Financial Armageddon | Scoop.it

Wall Street Journal November 22, 2011 The European Union has warned Greece that unless political leaders give written pledges they will back agreed reforms, an €8 billion ($10.79 billion) loan payment won't be given and the country will run out of...


Via Vincent Denoiseux
more...
No comment yet.
Scooped by Nick Laight
Scoop.it!

UK 'loses five years of growth' to New Depression

UK 'loses five years of growth' to New Depression | Countdown to Financial Armageddon | Scoop.it

Economic growth in the UK "remains subdued" and output will not reach 2008 levels until 2013, the National Institute for Economic and Social Research says.

more...
No comment yet.
Scooped by Nick Laight
Scoop.it!

UK High street gloom continues as festive shopping slumps

UK High street gloom continues as festive shopping slumps | Countdown to Financial Armageddon | Scoop.it

Sales figures from the British Retail Consortium for November have added to the gloom about the high street, suggesting customers are just not spending as much as last year.

more...
No comment yet.
Scooped by Nick Laight
Scoop.it!

Welcome to the living dead economy

Welcome to the living dead economy | Countdown to Financial Armageddon | Scoop.it

A eurozone that somehow stays afloat but can't be reformed, banks awash with cash that don't lend, and incoherent economic policy. We've only found a sticking-plaster solution to our crisis

more...
No comment yet.
Scooped by Nick Laight
Scoop.it!

Is that the best they could do? Global Bank Action Sees Short-Lived Rally In Stocks

Is that the best they could do? Global Bank Action Sees Short-Lived Rally In Stocks | Countdown to Financial Armageddon | Scoop.it

European markets have been trading flat on Thursday, after a brief but dramatic rally on Wednesday as the world's central banks took coordinated action to head off a fresh credit crunch.

more...
No comment yet.
Scooped by Nick Laight
Scoop.it!

British banks could ask taxpayers for more cash as Credit Crunch Part Deux arrives

British banks could ask taxpayers for more cash as Credit Crunch Part Deux arrives | Countdown to Financial Armageddon | Scoop.it

Sir Mervyn King, the Bank's Governor, confirmed that there are "signs of a credit crunch already in the euro area". Banks have been ordered to slash bonuses to staff and payments to shareholders to get their houses in order as a second credit crunch bears down on the
country.

more...
No comment yet.
Scooped by Nick Laight
Scoop.it!

Factories stall worldwide and U.S. jobless claims rise

Factories stall worldwide and U.S. jobless claims rise | Countdown to Financial Armageddon | Scoop.it

(Reuters) - Manufacturing activity is contracting across Europe and most of Asia, data showed on Thursday, and a Chinese official declared that the world economy faces a worse situation than in 2008 when Lehman Brothers collapsed.

more...
No comment yet.
Scooped by Nick Laight
Scoop.it!

ECB warning on 'downside risks'

ECB warning on 'downside risks' | Countdown to Financial Armageddon | Scoop.it

President of the European Central Bank, Mario Draghi, says downside risks to the eurozone economic outlook have increased.

more...
No comment yet.
Scooped by Nick Laight
Scoop.it!

It's official: OECD warns of European recession

It's official: OECD warns of European recession | Countdown to Financial Armageddon | Scoop.it

The OECD says the eurozone and the UK are likely to enter a recession as the international body cuts its global growth forecasts.

more...
No comment yet.
Scooped by Nick Laight
Scoop.it!

UK recovery to 'take five years'

UK recovery to 'take five years' | Countdown to Financial Armageddon | Scoop.it
Bank of England rate-setter Martin Weale says the UK economy will take more than five years to recover and more quantitative easing may be needed.
more...
No comment yet.
Scooped by Nick Laight
Scoop.it!

Death of a currency as eurogeddon approaches

Death of a currency as eurogeddon approaches | Countdown to Financial Armageddon | Scoop.it

Is it time to think what hitherto markets have regarded as unthinkable – that the euro really is on its last legs?

more...
No comment yet.
Scooped by Nick Laight
Scoop.it!

Why does every person need 200kg of steel a year?

Why does every person need 200kg of steel a year? | Countdown to Financial Armageddon | Scoop.it

Imagine that every year, every one of us gave birth to an eight-year-old made from steel. Disturbing image.

 

Now go further. Imagine that you also gave birth - everyone, male and female, young and old, every year - to 10 cement, one plastic and three paper eight-year-olds and one new-born aluminium baby.

more...
No comment yet.
Scooped by Nick Laight
Scoop.it!

German bonds under pressure as Merkel, Sarokzy and Monti prepare meet for debt crisis talks

German bonds under pressure as Merkel, Sarokzy and Monti prepare meet for debt crisis talks | Countdown to Financial Armageddon | Scoop.it

Investors continued to shun German debt on Thursday following a weak 10-year bond auction as the leaders of Germany, France and Italy prepare to meet amid rising tensions in the eurozone.

more...
No comment yet.