2011

Bill Gross was on CNBC yesterday talking about the debt ceiling deal. His first thoughts were about jobs. "There are no jobs in terms of growth. There are no wages in terms of increase… This is a classic de-levering cycle.”

The eternal pivot - Ben Smith - POLITICO.com tags: jobs When Did the American Empire Start to Decline? | Stephen M.…

Institutional investors have learned how to create and game self-fulfilling prophecy runs in various asset markets. (George Soros understood this and demonstrated its efficacy with his effort to break the pound in 1992.) Indeed, this is one…

Here is some more color on the Fitch comments on the US. First headline to hit the tapes was that the “deal reached is commensurate with AAA rating.” However, the full statement is that “commensurate with its 'AAA' rating, the risk of…

Unfortunately for President Obama, the economy is not doing well. And the cuts envisaged in this deal make that problem worse. From an electoral standpoint this is already becoming a problem in key swing states like Pennsylvania.

The Telegraph is reporting that the euro zone sovereign debt crisis has reached such a critical flash point that Italy has called an emergency meeting. In Spain, the Prime Minister has delayed his summer holidays to deal with the fallout.

On July 13, 2011 Chairman Bernanke explained: "The reason people hold gold is protection against tail risk, really, really, bad outcomes. To the extent that the last few years have made people more worried about the potential of a major…

The bill passed the House overwhelmingly. The Senate votes today. I will be speaking about the deal on BBC World News at 100PM ET.

Here’s a Bloomberg chart of the yield on 10-year German bonds since reunification. The overall trend is down, most precipitously since 2009.

The Europeans can’t catch a break. The crisis has already flared before they have had a legitimate opportunity to deal with the medium- and longer-term issues. Willem Buiter says the Europeans need a 2.5 trillion euro EFSF to deal with…