A NEW global recession? PIMCO says 60% chance. I say higher!

...considering Europe never really pulled out of the first one! The Eurecession is five years old and some EU countries are worse off than ever. What does this mean for the USA and its faltering recovery? It's gotten a lot better for the wealthy, but lagging re-employment and the continuing plundering of consumer wealth by the BANKS and OIL COMPANIES probably means we'll join them. Best case scenario: American workers may finally realize the system has been screwing them all along, and find a way to take back the comfortable lifestyle that their labor should provide!.

Not Much Different Over Here

The euro zone economy shrank for a record sixth consecutive quarter in the first three months of the year, according to data released Wednesday. But when European heads of state meet next week in Brussels, don’t look for any big announcements about plans to stimulate growth.


Europe, experts say, seems to be in policy paralysis. With Germany, the Continent’s economic heavyweight, in the grip of pre-election politicking, no big European policy moves are likely until after that country’s elections in September. Even then, it is not clear that anyone has any masterstrokes planned.

NOT LIKE ANYBODY IS SUFFERING OR ANYTHING.

It's not "austerity", it's GFC.[German Financial Control]

Criticism of German-mandated austerity in some of Europe's most-leaguered nations -- and in the center-left opposition in Germany itself -- has triggered a "1984"-style "newspeak" terminology change. German officials appear to turn testy when the word "austerity" is mentioned these days, and in recent months have deliberately adjusted their language to use the term "growth-friendly consolidation" to describe their policy approach. "I call it balancing the budget," German chancellor Merkel stated. "Everyone else is using this term 'austerity'. That makes it sound like something truly evil."

Like "Nazism"?

Soros warns Germany will join in Eurecession

Despite the fact that Germany expects a slightly positive growth in GDP this quarter, billionaire investor George Soros says they will be in recession by September, joining other Eurozone countries mired in financial woe. He blames their continued push for austerity across the Eurozone, in the face of declining exports to the rest of Europe, which account for 40% of Germany's international trade.