June 2010

Comstock Partners' latest weekly note demonstrates the core issue is a longer-term deleveraging that cannot be solved by fiscal and monetary stimulus. This likely means lower inflation-adjusted stock prices when the stimulus-induced…

Highlights US dollar was softer vs. the majors, with EUR/USD making a new high for this bounce just above 1.24 (highest since May 28) on relief that Spain bond sale went OK.  We think the current euro rally could go as high as 1.25,…

At 10AM ET the The Federal Reserve Bank of Philadelphia released its general economic index. The data were not good as the index came in at 8 for June down from 21.4 the previous month. Because numbers above zero signal economic growth, the…

Must-read The Anatolian Tiger: How the West Is Losing Turkey - SPIEGEL ONLINE Video - Property market 'overheating' - Brisbane Times Euro investors eye local Australian property market The Usual Fare San Diego May Use…

I am going through the BIS Quarterly Review that just came out and it is packed with useful information about the global economy.  With regard to the sovereign debt crisis, I found the following chart a good one for getting a feel for…

Just as a point of fact, it bears noting that government debt is a government liability in much the same way that bank notes are. what is the functional difference for the federal government between Treasury securities and bank notes?…

Highlights The US dollar is broadly lower, following a successful Spanish bond auctions and indications that the Swiss National Bank is not prepared to continue the heavy intervention that was reported last month.  After a slow start…

Jon Stewart manages to be funny while still skewering President Obama for not living up to a lot of his campaign promises. Not exactly change you can believe in, is it?

Matt Simmons says 120,000 barrels a day are leaking from the hole where the Deepwater Horizon rig blew up in April. He also says scientists cannot detect where the well bore was, so the casing in the hole is gone. Simmons says this…

Hat tip Stevie.