Wharton is warning markets to keep a very close on Spain right now. That’s because while a Greece or Portugal financial melt down might be manageable, a Spanish one could have massive negative repercussions for both Europe and the global economy.
• Marc Faber: We Have a New Gold Standard
• Failed Banks May Get Pension-Fund Backing as FDIC Seeks Cash
It may be possible to look into America’s future. How? Watch what’s going on in Greece. According to the Washington Post, “Greece needs to raise about €23 billion [more than $31 billion] in April and May to pay debts coming due.
Economic tension between America and China could get even worse thanks to a draft bill going through the U.S. senate. If passed, the legislation would mean penalties being imposed on China if it fails to revalue its currency. But American author Webster Tarpley says America is just trying to sabotage the strength of China’s growing economy.
• Google appears to drop censorship in China
Green Police: Trash Inspectors To Fine Families For Compost Infractions
Audi's "green police" super bowl commercial was lauded by many as a tongue-in-cheek stab at the increasing threat of police state control measures being introduced under the guise of environmentalism, but for others it hit too close to home, with the very same examples satirized in the ad now being introduced in Britain.