The sharp-eyed DoctoRx came across this comment on a Zero Hedge post, ”Has The Imploding European Shadow Banking System Forced The Bundesbank To Prepare For Plan B?” It is brilliant, hilarious, and very sarcastic, which is a proper way to comment on the proposed solutions to the ECB/euro crisis. It was written by “Chindit”:
[Plan B is the] [...]
This interview comes from our friends, the Truman Factor in Spain. Juan Luis Martín interviews the famed economist, Nobel laureate Vernon Smith.
Vernon L. Smith, Ph.D. was awarded the Nobel Prize in Economics in 2002 for his groundbreaking work in experimental economics. He is a professor in Chapman University’s [...]
I urge you to follow the euro crisis today and see how the marketplace deals with what is essentially a failed system. With the sovereign bond markets now in crisis mode as Germany stumbles at the auction block, the market is sending a clear signal that we are in crisis mode. As readers of the [...]
Things are getting rather serious in Europe as the bond vigilantes are hammering sovereign bonds. The carnage is starting to spread to France, Finland, Netherlands, and Austria.
Bond yields across the Continent jumped as prices dropped, in a sign of investors’ faltering confidence in officials’ ability to keep the debt crisis contained in the euro [...]
The esteemed Jim Grant on what’s happening now. He’s always well worth listening to. Sorry about the advertisement, but that’s why the video is “free.”
We have been so critical of the euro, the ECB, and the spendthrift socialist states in the eurozone that perhaps we have missed something important. On the one hand, things haven’t worked out as envisioned by the Maastricht Treaty and there is a lot of political upheaval in Europe. Another way to look at it [...]
“Deuda” is Spanish for debt.
Thanks to the Truman Factor.
I have been trying to find a good description of what actually was accomplished in the Brussels all-nighter, and am happy to pass along a link to an on-line summary of a print piece from Britain’s The Economist, which provides a good summary of many of the main points, plus commentary. This is a very mainstream publication, so what [...]
“Manek: How I Beat Everyone During Volatile Summer”
Headline in Investment Week extolling the performance of Jayesh Manek’s Manek Growth Fund, which has so far lost 23.6% during 2011.
This is, at heart, a tale of one tragedy, or two films. Roy Ward Baker’s 1958 classic “A Night To Remember‟ is a simple, [...]
Last night this report came in from Greece:
In a statement, the Finance Ministry said that the cumulative state budget deficit rose to €15.51 billion in first seven months of the year—compared with €12.45 billion a year earlier, while net budget revenues fell 6.4% budget expenditures jumped 7.1%.
“The budget figures are a big disappointment, [...]