2011

If the EU/IMF does this for Greece why not Ireland and Portugal? It is difficult to envision Ireland being able to go back to the markets next year as originally intended. Therefore, it too will likely require another round of assistance.…

There has been a net withdrawal from US money market funds and it appears that the funds have moved to strictly US Treasury or US high grade money market funds. Banks appear to be responding by hedging/securing funding through yen swaps. In…

In China, the persistence of inflation pressure has brought “shadow banking” into a topic of hot debate recently. According to a study issued by the People's Bank of China in 2010, non-banking sector lending has expanded to 63.3 trillion…

Greece is now getting a second bailout and the Greek government is attempting to get the austerity measures upon which the bailout is conditioned passed through its legislature. I think largely the same issues still apply as in May.…

This blurb from Paul Krugman and Robin Wells' review of Jeff Madrick's book on the credit crisis sums up why the busts keep getting bigger

Randall Wray takes a bearish view of the Greek situation, the capital position of European banks and the future of the Euro.

Lakshman Achuthan of the Economic Cycle Research Institute (ECRI) explains his view to Anthony Mason of CBS that the problem in the US jobs market is not jut cyclical in nature.

Michael Mauboussin talks to Consuelo Mack about why its getting harder to beat the market and why doing less can actually make you more.

The June Flash PMI reports, which were out on Thursday, do not make for agreeable reading, in the sense that while the French and German economies both continued to expand during the month, their rate of expansion, and in particular in the…

I have decided to single Klaus Baader out for special treatment here because he conveniently brings together, in a clear and succinct fashion, a number of arguments which are widely accepted and used by both analysts and policy makers about…