2010

Topic of the Day: Foreclosures Michael Hudson: Boiler Rooms and Foreclosure Mills: A Brief History of America's Mortgage Industry A “Gate” Worthy of the Name—”ForeclosureGate” : CJR Also see: Xenophobia in Europe Extreme…

...And the Coming Capital Controls A cross-post from this past Monday by Michael Hudson, President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of…

Note the reserve amounts in this post have been amended to reflect the $200 billion increase instead of the $20 billion originally cited. There are four developments in China to note today. First, China reported that its reserves jumped…

Highlights The US dollar is mostly lower as shorts get re-established after yesterday’s squeeze.  The contrast between The ECB’s continued commitment to an exit strategy, leading to firmer euro zone interest rates, while the FOMC…

A well-regarded US-based equity analyst had this to say about the preceding chart: Here’s a surprising tidbit: if the S&P 500 Index were to finish lower today, it would mark the 10th negative performance in the last 16 sessions.…

From Win Thin FOMC minutes from September 21 meeting was surprisingly dovish.  FOMC members thought that additional accommodation may be “appropriate before long” and seemed to lower the bar for further action.  During his…

by Annaly Capital Management In recent weeks, the Plaza Accord has been receiving a lot of attention, particularly after the IMF’s annual meeting in Washington concluded without making any progress on currency issues. If you recall, the…

"Global imbalances are a shared responsibility. The world is dead wrong to blame it on China." That's how Morgan Stanley's Stephen Roach began his interview with CNBC Asia. I agree 100% with these sentiments as I discussed in…

As I have been saying for over a year now, arguments that fiscal stimulus is needed are not going to work. George Soros makes these arguments in the video below. Not only are these arguments not going to succeed, they are counterproductive.…

This is a quote from a speech Federal Reserve Board Vice Chair Janet Yellen gave yesterday at the Annual Meeting of the National Association for Business Economics in Denver, Colorado (emphasis added): I noted previously--and it is now…