Survey of businesses confirms: global economy is in trouble.
For most of my career in international investing, I had always placed a great deal of faith in Switzerland’s financial markets. In recent years, however, as the Swiss government has sought to hitch its wagon to the flailing euro currency and kowtow increasingly to U.S.-based financial requirements, this faith has been shaken.
Wall Street is only one of several financial roach motels in what has become a giant slum of a global economy. Notional “money” scuttles in for safety and nourishment, but may never get out alive. Tom Friedman of The New …
The original NPR story presented my comments on Treasury’s opposition to brining criminal charges. Those comments were subject to what NPR labeled a “clarification” which meant they were removed from the program.
Early openers more motivated than usual: Kiwis -0.2%, Aussies +1%, Sth Korea +0.7%, Japan closed.
Lotsa green for Aussie resource sectors: Miners +4.1%, Materials +3.5%, Gold +2.7% and Energy +2%.
With stock markets running far ahead of economic growth, investors should be asking whether the markets are getting ahead of themselves.
Does anyone seriously think that Dudley would take a job as a regulator subject to federal pay caps? If the President or Congress ends the conflict of interest Dudley will scurry back through the revolving door to Government Sachs before the law becomes effective.