2011

Is Bank of America preparing for a Chapter 11? | Reuters To my earlier post regarding the need for a restructuring at BAC, “Housing, debt ceilings & zombie banks,” the move to put the derivatives…

As the US is well short of full employment and the economy is at a low ebb, there has been considerable discussion about what the Fed should do, especially given the lack of fiscal support for the economy. I have a view here, but I am not…

According to China Daily, China owns $1.13 trillion of US debt. China has $3.20 trillion in foreign exchange reserves.

FT Alphaville » A pox on all your AAA houses "No doubt it’s just a coincidence that S&P published new recession scenarios for the eurozone on the same day Brussels began talking about banning…

We are seeing the specter of instability in the growing protests of income inequality, economic distress of the middle class, and economic and political power of the very wealthy. There is Occupy Wall Street in the U.S., and similar…

Another volatile session marked by choppy overnight trading; global stocks mixed overnight. Euro zone summit unlikely to draw a line in the sand; German Ifo somewhat better than expected. USD/TRY managed to keep most of its gains following…

Now watch the Greek protestors turn on each other. Makes you wonder if an EU plan to be announced Wednesday is really going to solve the core issues of the crisis in the eurozone: 1) too much debt that can't be paid back; 2) debt/credit…

The Turkish central bank took a turn back to orthodox policy today despite leaving the benchmark 1-week repo rate unchanged at 5.75%. It dropped the language from several previous meetings about potential easing. The bank did hike the…

Nicholas Sarkozy has some sharp words about the crisis.

It’s kind of useless, in our opinion, to be looking at the technicals as the market approaches the big life or death event. The EU debt plan is either going to be taken positively, in which case the S&P500 will break through the…