The United States of America: Subprime Borrower
22 May 2009
Bloomberg reports: Treasury Secretary Timothy Geithner committed to cutting the budget deficit as concern about deteriorating U.S. creditworthiness deepened, and ascribed a sell-off in Treasuries to prospects for an economic recovery. “It’s very important that this Congress and this president put in place policies that will bring those deficits down to a sustainable level over the medium [...]
Posted in bailout, banking, finance, macroeconomics, usa, we're screwedComments (1)
Can Brazil and China replace the Dollar?
19 May 2009
Brazil’s central bank announced today that transactions between China and the South American nation will increasingly use their own currencies rather than use the US dollar. Rumors of a Chinese/Brazilian move to break away from USD hegemony first surfaced at the G20 meeting in London last month. This week, with Brazil’s president Luiz Inaςiao Lula [...]
Posted in americas, asia, banking, finance, macroeconomics, usaComments Off
The Pension Benefit Guaranty Corp May Be Next In Line for a Government Bailout
19 May 2009
The Pension Benefit Guaranty Corp., a government agency that provides insurance for corporate pension funds, recently reported to Congress that its deficit has tripled in the last 6 months to $33.5 billion as it takes on payment responsibilities for underfunded pension plans of companies going bankrupt in the current economic crisis. Acting director, Vince Snowbarger, commented: [...]
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India’s Congress Party Given Mandate for Change in Election Victory
18 May 2009
Preliminary results show that India’s moderate Congress Party has swept national elections, re-electing Prime Minister Manmohan Singh with a parliamentary majority which promises to see much needed political reforms instituted in the world’s largest democracy. State television says Congress’s alliance has won or is ahead in 263 seats, compared with the BJP’s (154), the Third [...]
Posted in asia, geopolitics, region specificComments Off
Thomas Woods: “Listen to the People Who Saw This Coming”
18 May 2009
In a televised speech by Thomas Woods, author of the New York Times bestseller “Meltdown: A Free-Market Look at Why the Stock Market Collapsed, the Economy Tanked, and Government Bailouts Will Make Things Worse“, had some gems of concise insight that we thought we’d echo here: “The recession is just the economy trying to re-adjust after [...]
Posted in bailout, banking, macroeconomics, usaComments Off
Do Pakistani Extremists Already Have Control of Nukes?
16 May 2009
In what could amount to extraordinarily serious and dangerously destabilizing global event, the government of India announced today that Pakistani extremists may already be in control of nuclear weapons sites in Pakistan. This is particularly concerning given that Pakistan already has the world’s worst record for proliferation of nuclear technologies to date. (In 2004 the [...]
Posted in asia, geopolitics, strategic analysisComments (2)
The Worst Quarter in Eurozone History
16 May 2009
The first quarter of 2009 saw the worst performance in the history of the 16-nation Eurozone since its establishment in 1999. The 27 nation E.U. also marked the worst performance in its history as GDP shrank by 2.5%. This annualized loss of 10% to Eurozone GDP is far worse than the worst case expectations of [...]
Posted in europe, finance, macroeconomicsComments (2)
Geithner Proposes Derivative Market Reform
15 May 2009
On Wednesday, Treasury Secretary Timothy Geithner wrote a brief letter outlining proposed regulation of the enormous $600 trillion derivatives market. In it, he calls “for federal regulators to be given comprehensive authority, for the first time, to police all derivative markets and derivative dealers; for the establishment of clearing, margin, and capital requirements to reduce [...]
Posted in banking, finance, usaComments (2)
Assessing the Potential for an Israeli Surprise-Strike on Iran
14 May 2009
Abdullah Toukan and Anthony Cordesman of the Center for Strategic and International Studies have produced an extensive and detailed strategic analysis of Israel’s offensive options regarding a military strike on Iran’s nuclear facilities. The 114 page study examines in exhaustive detail, all available data on Israel’s offensive capabilities, Iran’s arial defense capacities, Iran’s nuclear technology [...]
Posted in geopolitics, middle east, strategic analysisComments (5)
Buyout Chief: “It’s a sham. The banks are insolvent”
14 May 2009
It’s a rare thing when insiders speak their minds publicly against the powers-that-be. Today in a global investment conference held in Qatar, an insider accused the entire US bank bailout of being a “sham”, and said it publicly at a global conference of his peers. Meet Mark Patterson, chairman of MattlinPatterson advisers, a firm which [...]
Posted in bailout, banking, finance, macroeconomics, usa, we're screwedComments (7)
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- Buyout Chief: "It's a sham. The banks are insolvent"
- Yes, It Was a Sucker's Rally
- Assessing the Potential for an Israeli Surprise-Strike on Iran
- Bernanke Smokes Green Shoots
- Spain's Economic Collapse Continues
- Shut Down Freddie and Fannie?
- Audit the Federal Reserve?
- Ireland: Deflation Continues Unabated
- Geithner Proposes Derivative Market Reform
- The Worst Quarter in Eurozone History
- Ghost Buildings in Bangkok
- The United States of America: Subprime Borrower
- Can Brazil and China replace the Dollar?
- The Pension Benefit Guaranty Corp May Be Next In Line for a Government Bailout
- India’s Congress Party Given Mandate for Change in Election Victory
- Thomas Woods: “Listen to the People Who Saw This Coming”
- Howard Davidowitz: “The Worst is Yet to Come”
- Do Pakistani Extremists Already Have Control of Nukes?
- The Worst Quarter in Eurozone History
- Geithner Proposes Derivative Market Reform
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- Ben Berspankme: "India’s Prime Minister Manmohan Singh has told Pr...
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