I have to admit that I don’t want to be grilled on national TV by Senator Elizabeth Warren about my dirty-underwear drawer. I almost felt…
Euros entered circulation on January 1, 2002. For six years, they grew on trees in southern Europe. But the bubble got pricked. Since then, the monetary union has been in crisis. Almost half of its existence! Until suddenly, its problems were solved. B…
By the irony of timing, the Dow hit an all-time high as markets opened. Even Apple rallied. Exuberance wafted through the air. Hype was flowing…
Former Italian senator Sergio De Gregorio confirmed over the weekend that he’d been bribed by Silvio Berlusconi in 2006. “The Cavaliere paid me,” he told La Stampa nonchalantly about…
Now that the “sequester” is in effect, horrid budget cuts will befall the US economy and tear it to smithereens. It would be the end…
Spain is on edge. Unemployment is nearly 26%, youth unemployment over 55%. The government is mired in a corruption scandal. The economy is grinding to a halt. On January 23, the Catalan assembly declared that the region constituted a “sovereign p…
That state and local government pension funds are going broke isn’t a new problem. That it’s much worse than reported by those pension funds isn’t a new problem either. Last June, Moody’s determined that the already dizzying unf…
“I’m appalled that two clowns have won,” said Peer Steinbrück about the Italian election, referring to former comedian, now hot politician, Beppe Grillo, head of the 5…
Bank bailouts in the Eurozone, like bank bailouts elsewhere, have made owners of otherwise worthless bank debt whole through a circuitous process where, in the…
Investors are fuming. But traders, the lucky ones who got the timing right, love it. And so do the big Wall Street firms that shuffle…
