2010

In the CNBC Asia video below, Tan Kim Eng, director of sovereign ratings at Standard & Poor's Ratings, says China won't be coming to international markets to sell its sovereign debt anytime soon because it can fulfil its needs…

"...Bank of Canada Governor Mark Carney tried to calm everyone's nerves by declaring that gold 'has no role to play in the international monetary system.'" Globe and Mail, November 12, 2010 Carney did not calm the…

States and local governments cannot rely on the Federal Reserve to print money. As they face financial difficulties not seen since the 1930s, this is significant. We see the consequence of this difference on display daily in the sovereign…

from the BBH Currency Strategy Team Dollar is mixed so far today, largely weaker against the majors and firmer against EM currencies. Euro is trading softer due to ongoing concerns regarding the crisis, with EUR/CHF making new lows near…

A summary of the new tax law provisions was posted at the GEI News Blog as the law was being signed by the president Friday.  The outline was presented courtesy of the FPA  (Financial Planning Association).  The economic impact of the new…

We have just a few stories today from around the web. Three come from Europe on Irish collateral at the ECB, Spainsh bank restructuring in Europe, and Spanish over-buildings effects on Spanish banks. The U.S. story is about Ron Paul and his…

by Michael Pettis For the past two months there have been very strong rumors in the markets that next year’s new lending quota was going to be set somewhere between RMB 6.5 trillion and RMB 7.0 trillion.  For comparison’s sake, total…

by Michael Hudson Interview with Michael Hudson, Eleftherotypia, Sunday December 12, 2010. 1. A recent article of yours, “Schemes of the Rich and Greedy,” cites the bailouts in Europe among such schemes. What are the main faults with…

By Kevin Brekke, Editor, Casey Research Prior to the 1930s, it was not legally possible for a U.S. municipality to declare bankruptcy as no legislation existed covering this event. The growing number of insolvent towns during the 1930s…

Traffic jams like this one in Beijing are likely to get much worse.  Photo:  China Daily In 2009, China’s auto sales surpassed those of the U.S., reaching 13 million units (cars and light trucks).  This came as The Great Recession…