2011

Here’s a nice little graphic from the site Visualizing Economics on the US income distribution as measured by income from 2008 tax returns.

This is an update of a post I wrote at the beginning of September about European political dysfunction.

Obama’s pathetic refinancing initiative | Felix Salmon the sad fact is that anything more substantive than this is likely to require Congressional approval, and therefore be a political non-starter between now and November…

Tomorrow's EU Summit is the markets main focus. The key issue is whether European officials can finally provide closure to the two year old debt crisis and deliver the "comprehensive" and "decisive" package they have repeatedly promised. We…

European stocks edge to a two-month high ahead of tomorrow’s summit; USD mostly softer ahead of open. There is still room for the EZ policy makers to disappoint tomorrow; S&P 500 approaching 200dma. BoC likely to remain on hold but…

Fedex is a bellwether stock in the US because it handles so much cargo that it can be seen as a proxy for business activity. The company announced today that it expects record holiday shipping, albeit in its least-profitable residential…

Italy argues that the ECB has made the crisis worse because it refuses to stand at the ready as a lender of last resort like other central banks, an argument I have also made. However, the Italians suggest that the EU is facing a liquidity…

Fernandez will try to maintain the unorthodox mix of policies for as long as she can, and has shown little willingness to more towards orthodoxy during her first term. Troubles will come both internally and externally, with the growing fear…

Recipients of government spending can hold receipts in the form of a bank deposit, can withdraw cash, or can use the deposit to spend on goods, services, or assets. In the first case, no further portfolio effects occur. In the second case,…

Banks raise Greek haircut offer to 40 percent in talks: source | Reuters Bankers have offered to stretch the voluntary haircut on Greek debt to 40 percent, while politicians demand the private sector agree to writedowns of…