—- TurkishGovernmentRestricts Internet Access; ErdoganComparedToHitler // ZeroHedge "RememberthatAdolfHitlerusedthesamemethodswhen he rose topower," opposition leader Hasan Oren blasts as Turkish PM Erdogan as the Turkish parliament has approved a bill that would tighten government controls over the internet. As TheBBCreports, the new law allows the governmenttoblock websites withoutfirstseeking a courtruling. "Nowyou are implementingfascism," Oren goes on, despite promises of "enhancing democracy in Turkey" when Erdogan was elected. … Seguir leyendo Turkish Government Restricts Internet Access; Erdogan Compared To Hitler

—- ArgentineBankingSystem Archives DestroyedByDeadlyFire // ZeroHedge While we are sure it is a very sad coincidence, on the day when Argentina decrees limits on the FX positions banks can hold and the Argentine Central Bank’s reserves accounting is questioned publically, a massive fire – killing 9 people – has destroyed a warehousearchivingbankingsystemdocuments. As TheWashington Post reports, the fire at the Iron Mountain warehouse (whichpurportedlyhadmultipleprotectionsagainstfire, includingadvancedsystemsthat … Seguir leyendo Argentine Banking System Archives Destroyed By Deadly Fire

—- BNPWarns "TheRunOnUkrainianDepositsMayHaveAlreadyStarted" // ZeroHedge "It is absolutely impossibletoforecast" Ukraine’sexchangerate, BNP Paribas notes in an ominous report today. Considering Ukraine’s huge need to cover its current account deficit, the country is increasingly reliant on financial inflows – and these will be difficult to secure. The Hyrvnia has collapsed this morninng to 9.00 back near December 2008 lows as BNP warns "TheNBU faces a difficulttask: letthe … Seguir leyendo BNP Warns «The Run On Ukrainian Deposits May Have Already Started»

—- Are emergingmarketsgoingtocollapse? Whyis Dr. Doomwrong // NAKEDKEYNESIANISM The series of devaluations in the currencies of a few developing countries (I prefer the term to the one in the title, which became popular in the 1990s, when Neoliberal policies required selling bonds in international financial markets, and, hence, emerging markets sounded more marketable than underdeveloped country) has led to a lot of speculation about the … Seguir leyendo Are emerging markets going to collapse? Why is Dr. Doom wrong

—- Causes ofEurozoneexternalimbalances // VoxEU.org: RecentArticles External imbalances within the Eurozone grew substantially between the introduction of the euro in 1999 and the global financial crisis of 2008–09. Using new empirical evidence, this column argues that imbalances in the Eurozone periphery were mainly driven by a domestic demand boom, triggered by greater financial integration, with changes in the periphery’s competitiveness playing only a minor role. … Seguir leyendo Causes of Eurozone external imbalances

—- Brazil, RussiaCancelDebtAuctions; Head–in–SandMoveWon’tWork // Mish’s Global EconomicTrendAnalysis Russia and Brazil don’t like escalating interest rates. Their "solution"? Cancel government debt auctions. RussiaCancelsDebtAuctionsSecondWeek Yesterday, Reuters reported Russiacancelsdomesticbondauctioncitingmarketconditions Russia’s finance ministry cancelled its weekly domestic bond auctions for the second week in a row on Tuesday, saying in a statement the decision was "based on an analysis of current market conditions". Yields on so-called OFZ bonds … Seguir leyendo Brazil, Russia Cancel Debt Auctions; Head-in-Sand Move Won’t Work

—- Dangerof Global RecessionAfter 30 Yearsof Neoliberal Counterrevolution // nakedcapitalism Heiner Flassbeck is one of the few economists to get into positions of influence despite being firmly opposed to the prevailing doctrine of neoliberalism. He’s also direct and articulate. Among other things. Fleassbeck has been a professor of economics at the University of Hamburg, a Vice Minister at the German Ministry of Finance, and a … Seguir leyendo Danger of Global Recession After 30 Years of Neoliberal Counterrevolution