May 2011

Hat tip to Steve Keen for these jokes. This is how bad the economy is.

It bears remembering that the German banks are very exposed to the periphery as we contemplate the Spiegel article on Greece's alleged desire to defect from the euro zone.

The euro took another leg lower in thinned afternoon North American markets after Der Spiegel online reported that Prime Minister Papandreou is contemplating a Greek exit from the euro zone and that the EC is calling a "confidential"…

This is my translation of an article from the German magazine Der Spiegel which says: "The debt crisis in Greece is getting worse. According to information available to SPIEGEL ONLINE, the country's government is considering leaving the…

Reasoning was not designed to pursue the truth. Reasoning was designed by evolution to help us win arguments. That's why they call it The Argumentative Theory of Reasoning. So, as they put it, "The evidence reviewed here shows not…

Nonfarm payroll employment rose by 244,000 in April, and the unemployment rate edged up to 9.0 percent.

Dollar pares back some of its gains ahead of NFP; risk appetite marginally improves NFP is likely to surprise to the downside but a “big miss” needed for a large market move Commodity currencies remain in focus; RBA signals potential rate…

"I hope that silver goes down for a while because it was turning into a parabolic move, every parabolic move ends badly, I hope that silver and all commodities continue to go up with normal corrections along the way and in 5 or 10 years,…

(Hat tip Business Insider for the video and Conor Sen for the connection). Gee Wally, I wonder if speculation had anything to do with it.

Voters in Iceland have rejected their government’s attempt to foist on them the costs of bailing out foreign creditors. Should voters in Ireland too?