2011

Last week we showed that government deficits lead to an equivalent amount of nongovernment savings. The nongovernment savings created will be held in claims on government. Normally, the nongovernment sector prefers to hold that much of that…

The two halves of the eurozone are locked in a broken marriage - Telegraph One by one, the democracies of Southern Europe are being broken on the wheel of monetary union. tags: europe greece austerity…

Austerity cuts demand too much to have the positive effects on deficits in the short-term that Europe wants it to have. All of these countries are likely to miss their targets. And then the Troika ‘occupations’ will commence. This is a…

10-year Italian paper now trades at 6.17% and is poised to break through highs set in August. While the ECB and European leaders recognise that the ECB is the difference here, they are as yet unwilling to have the ECB declare itself…

Risk aversion is taking hold again with global stocks broadly lower; dollar firmer against majors. Price action dominated in part by BoJ intervention; on the data front Chicago PMI and Canadian GDP. Norway’s central bank indicated it will…

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Risk appetites returned in a big way in October, as equities, emerging markets, commodities and currencies all generally advanced and smartly so, recouping much of the ground lost in September. The events in the week ahead will likely set…

"There are unintended consequences of free markets. It's not capitalism that has been the problem, but irresponsible governments and politicians who have allowed the financial system to explode by permitting the build-up of ludicrous…

Why the latest eurozone bail-out is destined to fail within weeks - Telegraph I want last week's European bail-out to work. My sincere hope is that collective and decisive action by the eurozone's large member states will…

Steve Keen, a well-known Australian professor and economist, spoke at Occupy Sydney saying that the protests all over the world show economic models have failed. He’s not the only saying this obviously. But, what does that actually mean for…