All the European Stock Markets are up this morning because shares in banks are up. And they are up because of one thing – the leisurely time scale given to the banks for implementing the Basel III agreement. Basel III is the response to the financial crisis, of those who regulate global banking. There are …
The one thing we will not get about National Debt this autumn is clarity. Debt has become the battle ground for those who hunger for political power. Control what people think about debt and you will control them: what they think and what they will do. All the parties know this. Therefore expect debt to …
News out of Japan – the government has just announced a 915 Billion Yen stimulus package. The package is aimed at jobs, housing and domestic consumption. Finally after two decades of frantically and fruitlessly pushing the button marked, ‘exports’ it has dawned on somebody over there that nurturing domestic consumption might help a bit. Along …
Money has been flowing OUT of US Equity Funds (funds which concentrate of stocks and shares) for three years now. $234 billion in ’08, a further 9 billion in ’09. This year we are now in our 18th straight week of continuous investor withdrawals. Totalling so far over $52 billion. And yet, an article over …
A day of rumours. Two banks at opposite ends of the European spectrum are in need of funds. At the bottom, the undisputed champion of barrel scraping imbecility, Anglo Irish. Bleeding from every orifice, it will have to get a straight bail out from the ECB. Whether a full and large bail out would be …
I just thought maybe I should have explained a little about Absolute and Comparative advantage. So for those who are not clear and would like to know here is a quick and simple version. Imagine a world where your country and mine both make nails and hammers. I am great at nails not so good …
Sometimes it’s the little details that get you thinking isn’t it? Did you know that the Renault/Nissan company just announced that it is planning to boost jobs in South Korea so as to be less reliant on Japan? In other words Japanese car manufacturing jobs are being relocated off-shore. A tiny detail in world affairs. …
This morning listening to Radio Four I heard a reporter say,”The political climate has changed. It’s no use bleating to the government any more.” He was referring to the dire effect on employment and levels of poverty that the cuts in government spending would have on the North East of the country. Times have changed …
Just a quick bond market note. ftse was down about 40 points this morning as were all the other European markets. Mid morning they all went vertically up. The reason, as Market Watch printed as a headline, “Portugal sale helps spirit”. This was the news that Portugal managed to sell about one billion euros of …
It’s been a long irritating summer hasn’t it? Listening to the flatulent exhalations of central bankers and assorted experts has tried my patience. Reading the financial news was like watching Strictly Ballroom re-cast with Pollyanna financial prancers all with their ‘Happy face on’. The Stress Test was perfect and all the banks are fine. US …
Round Two of the European debt rip-off getting started Read More »
