Up until now, the world’s descent into the NIRPy twilight of fiat currency was a function of failing monetary policy around the globe as central bank after desperate central bank implemented negative and even more negative (in the case of Denmark some four times rapid succession) rates, hoping to make saving so prohibitive consumers would have no choice but to spend the fruits of their labor, or... 

Treasurer Joe Hockey and Finance Minister Mathias Cormann announced the first stage of budget cuts in May. Australia is to scrap around 175 government agencies in what many say would exacerbate the country’s unemployment problems. The decision is expected for Monday as part of Prime Minister Tony Abbot’s mid-year economic outlook. Abbot’s administration has already abolished more than 76 agencies...