May 2010

Imagine a situation in which 49 other states are forced to unite together to help forestall the imminent insolvency of California, and you'll get a good idea of the limitations inherent in the EU "rescue proposal" for Greece and…

A bit of gallows humour for my German-speaking readers. (Hat tip Yves Q. Smith) Source Die Eurohühner - Föhrenbergkreis Finanzwirtschaft

I was reading an interview in Handelsblatt with the EU's Olli Rehn and I found this exchange telling: Handelsblatt: Mr. Commissioner, with yesterday's decision is an EU-debt agency created which issues Euro Bonds? Olli Rehn: I will…

From his latest "Breakfast with Dave" missive. Well, I think the turbulent global events of the past few weeks underscore the reason why I have maintained a cautious investment approach for the past year, notwithstanding the…

Subscribe to Our News Feed If you would like to receive our links in real-time please follow me at @edwardnh. For readers in Canada, I will be on BNN at 1200 ET (light posting until then). Euro crisis PIMCO: Greek Woes Will Keep…

Highlights The US dollar and the yen are back in black today, as the markets are expressing doubts that the weekend EU/IMF plan will be successful in preventing eventual debt restructuring for Greece and the other peripherals.  While…

Sources Lena Horne Dies at Age 92 - Art Beat Lena Horne - Wikipedia Lena Horne Obituary - The State, SC Remembering Groundbreaking Jazz Icon, Actress Lena Horne - PBS

Here's a thought regarding the European liquidity scheme. My understanding is that the ECB is legally prohibited from 'monetizing' Eurozone debt by buying it directly at auction. Therefore, in instituting the nuclear option of buying up…

Equity markets have responded well to the EU's new liquidity schemes.  But the single currency is tanking, after EUR shorts caused it to pop just after the announcement. What does this mean? Maybe the markets sense a large…