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 …
Yesterday in ‘More Bad Signs in Euroland’ I mentioned how Spain had had a Bond Auction fail. Not that it was reported that way by the mainstream – but then truth is no longer their function in this time of crisis, is it? I also suggested that the ECB would have to be on call …
A question asked a lot recently, particularly on Germany. WHY was Greece let into the Euro and the Union in the first place? And more under the breath than out loud, why were Spain and Portugal let in? Why were all these poorer and more debt ridden. low growth countries let in? Whether you think …
Why was Greece let in and why not let her leave? Read More »
Why was the GB government so quick to say they were not going to help with the German ban on Naked Shorting and not going to support new regulations on Hedge funds? You may not be asking yourself this question – at least not this early in the day. But they were asking it yesterday …
Money is on the move. Like an angry Mongol horde it has saddled up and is looking for someone to have a word with. You see, WE think of Mongol hordes as the archetypal mob of marauding thugs whose main hobbies were raping and pillaging. But did they see themselves that way? I think they …
Despite the ECB humbling and devaluing itself just a week ago – there are virtually no signs that it ever had any effect. The bail- out was designed to protect European banks and debtor nations. Neither is working only a week after. Debt fears are back and growing and a couple of banks are nearing …
