Coming to a Socialist Country Near You – Market Talk

Posted by Martin Armstrong - Armstrong Economics

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Greece-PensionerThe Lesson for the World Coming from Greece

“This is just the tip of the iceberg. We are facing terrible times ahead because socialism is completely collapsing.

“The heartbreaking photographs of a 77-year-old retiree Giorgos Chatzifotiadis pensioner showing he has just collapsed on the ground openly in tears driven to despair outside a Greek bank with his savings book and identity card strewn next to him on the ground illustrates the horror the Troika is deliberately trying to inflict upon the Greek population.”


Market Talk

“With the sell-off seen in European Equities and commodity based currencies, a lot of the talk was around the US$ as the safe-haven trade. Sterling particularly hit hard today last traded down 0.9% and FTSE -1.3%.”


Chicago Looks at 30% Property Tax Increase to Pay Gov’t Pensions

“This is why it appears that real estate should peak out with this turn 2015.75.”