May 2010

Is the Euro depreciation planned or just a by-product of currency revulsion? No one knows. However, the events of the past week following the European shock and awe package are curious to say the least. Here's one curiosity. In the…

To paraphrase Shakespeare, things are indeed rotten in the State of Denmark (and Germany, France, Italy, Greece, Spain, Portugal, and almost everywhere else in the euro zone). An entire continent appears determined to commit collective…

If an ECB in QE mode, €60 billion in cash, €440 billion from a pooled EMU effort and €220 billion from the IMF only lasts a week, then I'd humbly submit that we have a problem.

You saw my Stat of the Day: California now in top ten for highest government default probabilities in the world. Here's a look at those CDS spreads for California over time - Michigan and Illinois are in the mix here too.

Here's something I want to run by you on behavioural economics and the way economic issues are being debated in the blogosphere. We are witnessing an implosion of long-held belief structures that go the core of how we believed our economic…

Subscribe to Our News Feed If you would like to receive our links in real-time please follow me at @edwardnh. Must Reads Griechenland-Zweifel des Bankchefs: Ackermann vergrätzt Merkel - SPIEGEL ONLINE (see my post Deutsche Bank chief…

Highlights The risk off trade is back on and the US dollar and yen are bid while the euro is in a no win situation at this point. There are renewed concerns over the situation in Dubai (ahead of Dubai holdings’ next repayments) and China…

When bankruptcy comes, it does so normally as a result of a liquidity crisis. This is true for countries as much as it is for companies. It's not as if someone in charge walks in one day and says "you are insolvent so you must default…

Just when you thought the EU had things under control with their $1 trillion shock and awe rescue package, the first signs of doubt appear.  The doubting Thomas is none other than Swiss-born Deutsche Bank head Josef Ackermann who…

Frederick Sheehan is the author of Panderer to Power: The Untold Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession (McGraw-Hill, 2009). The Federal Reserve releases transcripts of the Federal Open Market…