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Syriza party now rebelling against Tspiras. Greek parliament new report shows Greece is headed into a depression. Layoffs continue, Chevron, Xerox and others letting people go. Pending home sales implode as the housing recovery collapses. Social Security Disability fund will run out of money in 2016 and congress is going to hide this by combining SSD with SS.White House rejects petition for Edward Snowden, once again government does not care what people want. FBI wants social media to do more to spy on the American people. UK planning to role 5000 soldiers to control the masses. Kiev begs the US for lethal weapons. Turkey signs deal with US to use their airbases to remove Assad. IS makes threats against India to draw the US into war, translation: push the Authorization for War through congress.
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- Tsipras went on to accuse creditors of not negotiating in good faith, noting that the “quartet” of institutions wasn’t independent. As for the referendum call, Tsipras says he “had no other choice”
- The Greek Parliamentary Budget Office found that the Greece’s economy will face a tough few months ahead.
- In its quarterly report for the April and June 2015 period, the Office noted that the capital controls in effect since June 28 will not be lifted any time soon and the costs to the Greek economy will be significant.
- Among the report’s predictions for the rest of the
year is a 4% to 10% decrease of the country’s Gross Domestic Product based on the European Commission ‘s forecast of a 2% to 4% economic recession. The report predicts serious losses for the Greek economy
- In the beginning of 2015 the biggest threat to the economy as a result of the collapse in oil prices, both in the US and worldwide, was the surge in layoffs among highly-paid energy sector job .the Challenger layoffs data for the energy-heavy state of Texas, and the energy sector in general where the 37,811 job cuts in Q1 were some 3,900% higher than a year earlier.
- pending home sales dropped 1.8% in June (missing expectations of a 0.9% rise) for the biggest drop since Dec 2013 .
- Lawrence Yun, NAR chief economist, says although pending sales decreased in June, the overall trend in recent months supports a solid pace of home sales this summer.
- “Strong price appreciation and an improving economy is finally giving some homeowners the incentive and financial capability to sell and trade up or down,” adds Yun.
Silver lining? Prices falling sharply
Because the prices are going down so fast, we’ll be hitting the stabilization point sooner,” said Lawrence Yun ,
- June 17, 2008: Larry Yun predicts 99% of market will have higher values in 5-years than today.
- September 20, 2008 :
Yun also said that he expects the worst of the housing slowdown is over, or nearly so. “The winter months are always weaker,” he said. “But this winter wil be better than last winter. There is a great pent-up demand that cannot be held back any further. ”