Juggling Dynamite

Markets have been weakening technically on their way to a downward part, ‘Gloom Boom & Doom Report’ editor Marc Faber says. Here is a direct link.

Danielle was a guest today on the Financial Survival Network with Kerry Lutz, talking about recent developments in the world economy and markets. You can listen to a clip of the discussion here.

This is an encouraging trend. Greece on Monday became the seventh European Union country to formally back the imposition of a tax on financial transactions. See: Greece Backs Financial-Transaction Tax

“The controversial tax, known as FTT, needs the backing of at least nine EU countries to go ahead under a process called “enhanced cooperation,” which allows EU countries to coordinate on policies that don’t have the support of all 27 member states.

The initiative to move to a harmonized tax on financial transactions has been led by Germany and France. Portugal, Slovenia, Belgium and Austria have also formally backed the proposal over the last few days.

Germany and France hope to get to the requisite nine-country backing here in Luxembourg, where EU finance ministers will be meeting Tuesday. The Greek decision came at the meeting among the 17 euro-zone finance ministers taking place ahead of the wider EU ministers’ meeting.”