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Thursday, 21 July 2016

EU Apocalypse Assured By Italy's Meltdown

ITALY is on the brink of financial and political meltdown as the leader of the Eurozone’s third-largest economy tinkers on the edge of career suicide, plunging the already beleaguered European Union into fresh chaos

Matteo Renzi faces stepping down in October if he loses the referendum

Italy will DESTROY EU: Warning as Italian referendum to spark euro economic APOCALYPSE

Matteo Renzi has promised to resign if he loses a referendum on constitutional reform in October, which threatens to shake the financial foundations of the nation and push contagion to other nations in the crumbling bloc.
The Pro-EU Premier’s nickname is II Rottamatore - The Demolition Man - but many fear this moniker may come back to haunt him and he could become the main target for his own demolition.
Renzi’s departure would be taken badly by markets that have backed his reform agenda.
Guntram Wolff, director of Bruegel, an influential Brussels-based think tank, said: "Political instability would indeed cause financial instability.”

According to one Federal Reserve study, the Fed doesn't even have to spend actual money to drive up stock prices. Holding its regular FOMC meetings is enough. This Fed study shows that the FOMC drove the S&P 55% above fair value.
Apparently, the Fed and its global central bank buddies are at it again.

Instead of paying subprime home buyers to borrow money, investors are now paying subprime governments.
And just like the build-up to the 2008 subprime crisis, investors are snapping up today’s subprime bonds with frightening enthusiasm

In the future he outlines, any excess power that doesn't go into the home battery will be put into a car. Or a compact SUV or pickup truck, which are in the planning stages. We'll also see the announcement of a Tesla Semi next year, and Musk said the company is working on a completely redesigned city bus that's smaller, has denser seating, and takes passengers directly to their destination, rather than the nearest bus stop. What Tesla doesn't plan on making is a low-cost vehicle for reasons we'll get back to below.

As China’s Economy Slows, Beijing’s Growth Push Loses Punch

Mo Ping for years made his living by tending the mango and jujube trees that he grew on less than an acre on this tip of land in the far south of China. Then last year Mr. Mo and others in his village near the city of Leizhou received what they considered a lowball offer to sell their land to make way for a $1.5 billion coal-fired power plant. Most rejected it, but the local government sent in bulldozers anyway. “There were several hundred police on the scene, and they wouldn’t allow us to get anywhere near the farm,” said Mr. Mo, a 51-year-old with dirt caked under his close-trimmed fingernails. “My heart ached and I cried because I was really upset.” The coal plant is part of a huge and expensive government push to reinvigorate the Chinese economy. Officials have fast-tracked the plant in recent […]

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