Epstein Secrets

only being kept out of the abyss by a debt restructure in 2012. And under that restructure it now owes money mainly to other European governments, the European Central Bank (ECB) and the IMF. These official creditors have slashed interest rates and stretched out maturities, but not enough. With a debt stock of 175% of G

ublicans and "big government" Democrats can agree on is offering essentially unconditional support to the military and the national security state. The Republican Party — its various factions increasingly at each other's throats almost as often as at those of the Democrats — seems reasonably united solely on issues

at affordable rates. Meanwhile, their banks are hemorrhaging deposits. Up until now, broke banks could prop up broke governments by borrowing from the European Central Bank and using the cash to buy their governments' bonds. But that game is over. For there is nothing the ECB can do to stop panicky Spaniards swapping

won't do it, perhaps Taxmageddon will. "To get anything done in the second term," another White House official said, "the President has to convince the Republican Party that obstructionism is a losing strategy." V Increasingly, hints of Obama's second-term vision are becoming evident on the campaign trail. On Jun

Fed responds by tightening monetary policy sooner. ¢ The improved economic outlook raises the odds for an Obama re-election and makes it harder for Republicans to win a majority in the Senate. US fiscal consolidation efforts are facilitated by faster rising tax collections. A Democratic stronghold leads to s

quality. ¢ The economic recovery fails to gain momentum in the second half of the year. Credit demand fails to improve further as some of the recent European Central Bank (ECB) data indicates. The ECB cuts rates. ¢ Further quantitative easing by the Fed would be supportive for Bunds and speaks for lower yields. & Negat