The Other McCain

"One should either write ruthlessly what one believes to be the truth, or else shut up." — Arthur Koestler

TERROR MANHUNT: French Authorities Seeking Accomplices of Islamic Killers

  The perpetrators of Friday’s massacre in Paris have been identified, and the investigation exposes the worldwide menace of Islam: Police [on Saturday] issued an international arrest warrant for one of three Belgian-born brothers believed to be at the heart of the eight-strong ISIS cell who murdered 132 people in Paris. French police are hunting […]

Greece Closes Banks in Crisis

It was first announced that Prime Minister Alexis Tsipras debt-ridden left-wing government would close banks Monday, but now they’ve decided the banks will remain closed all week: Greek banks are to remain closed and capital controls will be imposed, Prime Minister Alexis Tsipras says. Speaking after the European Central Bank (ECB) said it was not […]

Greece Runs Out of Other People’s Money

The Eurozone’s problem child throws a tantrum: Two senior Greek retail bank executives said as many as 500 of the country’s more than 7,000 ATMs had run out of cash as of Saturday morning, and that some lenders may not be able to open on Monday unless there was an emergency liquidity injection from the […]

Greece Threatens Sovereign Default

This could trigger a global financial crisis: Greek premier Alexis Tsipras has accused Europe’s creditor powers of issuing “absurd demands” and come close to warning that his far-Left government will detonate a pan-European political and strategic crisis if pushed any further. Writing for Le Monde in a tone of furious defiance after the latest set […]

Hey, Greece: Just Remember, Austrian Economics Don’t Work

by Smitty It looks as though the Greek election is another exercise in playing soccer on a long street with a can, kicking that can down another block. The collapse of the Eurozone has become like the decline of the Warsaw Pact, only more complex and prolonged. Pro-austerity forces have won the latest election in […]

Growing Up

by Smitty Victor Davis Hanson has another excellent essay on the situation in Europe. Read the whole thing. But let us focus on the Germany/Greece dichotomy. In other words, it is as illogical as it is common for the wayward debtor to blame the thrifty creditor for his dilemma. The Germans now are in the […]

Bank Run in Greece = DJIA Rises?

Back in 2009, I started saying that U.S. economic policy was so far into uncharted waters that we’d reached that part of the medieval map where it says, “Here Be Dragons.” There was no precedent for what the Fed and the Treasury were doing, and any attempt to predict what came next was pure speculation because […]

You Say That Like It’s a Bad Thing

“François Hollande will strike fear into the hearts of the rich,” is the headline on a column by Nabila Ramdani in the British Independent. Permit me to suggest two likely results (a) some genuinely rich people will leave France, taking their wealth with them, and (b) a lot of the “rich” people in France won’t […]

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