By Simon Johnson Most of the current policy discussion concerning the euro area is about austerity. Some people – particularly in German government circles – are pushing for tighter fiscal policies in troubled countries (i.e., higher taxes and lower government … Continue reading →
Two market developments are worthy of note today (so far). Gold is up 2.5% (off a very cheap low) and USDYEN and EURYEN have made very significant 1.3% moves down.
Stuff like this scares me. It looks like acceleration in the flight to quality. The ne…
One of the biggest frauds of the past few years took place yesterday. The International Swaps and Derivatives Association (ISDA) confirmed that no “event of default” has occurred with the Greek debt restructuring, therefore no payouts on any outsta…
An interesting article in the Swiss press this morning regarding the big Swiss drug companies, Roche and Novartis.
Apparently the PIGS are not paying their drug bills. The numbers are big. The bills have been unpaid for years. Some excerpts from the…
While the crash wave setup remains “as good as it gets,” the market has thus far stayed above the key levels I’ve outlined previously (1215 and 1190) which could actually spark a crash. After Friday’s rally, the market is…
If the stock market was based on anything other than Fed manipulation, this might have a negative impact on market sentiment.
Between this and the Spain/Portugal mess, this December should be quite interesting.
There’s no way that North Korea can win…
Brilliant. The Treasury got lucky with a huge stock selloff Monday that spooked investors back toward Treasuries. Somehow they see the US as being safe…
