Kleptocracy in action: France seizes €36 billion of pension assets. We’re told that this was done to pay off some of their welfare debt. I thought that the French had done away with pissoirs, but apparently they still have a very large one. But of course the French are tres brillant, so I shouldn’t doubt their judgment.
Thanks to Pierre M. for this item: Hungary Follows Argentina in Pension-Fund Ultimatum, `Nightmare’ for Some
Marc the former 91B mentioned Chris Martenson’s commentary on Peak Oil: It’s Official: The Economy Is Set To Starve
B.B. sent this news item from Oz: Millions cashless in bank glitch. (A preview of coming attractions?)
Euro Debt Crisis Bankruptcy Bailout Queue, Protect Savings & Deposits From Banks Going Bankrupt! (Thanks to John R. for the link.)
Also from John R.: The Fiscal Trap: Quantitative easing won’t solve our deeper problem.