Thanks to Andrew for the link for part of this bit of news. See his comment under Debt Laundering and Theft. Amoung the many owners and buyers of US debt it turns out that individual States and local governments had by dec ’09 bought $528 billion of Federal Debt. Now, as holdings go, this is …
Yesterday we were told that US existing home resales were up 7.6 % in April. The reason for this increase is the rush to benefit from the Federal subsidy which expires at the end of the month. Today comes the admission from the head of the FHA that together, the FHA and the terrible twinds …
I want to return to a topic that I wrote a comment about a long time ago on the Guardian and was one of the few times I was deleted. I think it was felt I was treading a little close to shark-infested waters. But snorkel in hand here I go again. Money laundering you …
I know I plague you with this stuff. But if or when it shifts you will be able to watch the resulting Tsumani heading your way from your bedroom. China’s central government says it wants to reign in its bank and property bubble. The problem is, nobody else does. The other intersted parties in the …
What do think this crisis is about? What was it about when it started and is it about that now? I would argue that certainly it began as a simple financial crisis. But as the scale and intractability of the crisis revealed itself it became something much more profound. It became what it is now …
If you can’t see a market or a stock or a bond you think is going to profit from the misery elsewhere and you begin to fear the contagion is everywhere what do you do? You quarantine – You go to cash. If bonds were OK you would go to them. But they aren’t OK. …
When the plane you are in starts bumping up and down sending drinks all over the place, when the noise from one of the engines seems, you could swear, to have stopped – and then the plane starts droopping like a stone, what do you think? Well everyone is different, but what the crew are …
For a while now every nation has been keen to find ways of letting their currency weaken. It depreciates your debts a tiny bit and gives your hard pressed exporters a chance of winning orders and maybe even hiring someone. But then the Greek debt crisis metastasised first into a European wide debt crisis and …
Storm fronts are gathering and are going to collide. Possibly tomorrow. Today was just the rumblings of their approach. First off the bottom has officially fallen out of the markets and the recovery. Dow is down 3.6% – 376 points. And there was nothing anyone could do about it. It fell like a stone, bounced …
Storm Fronts Gather – the last one is the BIG one. Read More »
Well that’s it – the FTSE 100 is back down where it was at the moment of crisis that precipitated the ECB €750 bank bail-out. The French Bourse is nearly there and Frankfurt not far behind. The Italian index has dropped 800 point today. They are selling everything at the moment. So, €750 Billion for …
