2011

Paul Davidson argues that a theory is the way humans describe real world observations on the basis of a model that starts with a few axioms. An axiom is an assumption accepted as a universal truth that does not need to be proved. From this…

Harrisburg, Pennsylvania, Files for Bankruptcy, Lawyer Says - Businessweek The city of Harrisburg, Pennsylvania, facing a state takeover of its finances, filed for bankruptcy protection following a…

The problems Italy faces may have deeper roots than simply the current prime minister. It is not clear that the opposition offers a significantly different agenda rather than different personalities. ECB bond buying of Italian debt…

Global stock continue to push higher amid choppy conditions; EuroStoxx reaches 6-week high. Slovakia’s rejection of the EFSF 2.0 is unlikely to derail ratification; EUR/USD breaches 1.38. China’s PBOC reportedly intervened it the Chinese…

My friend Rob Parenteau doesn’t think it will. His argument against it is similar to the one I have been making about the origins of this crisis. Here’s what I said.

Last week Moody's cut the ratings of 12 British lenders, including Royal Bank of Scotland and Lloyds Banking Group. This week the other two ratings agencies, S&P and Fitch cut the ratings of 10 Spanish lenders.

The elevated volatility levels have made for difficult times for many investors. To simplify the complexity, there is much reference to risk-on and risk-off. We look at the correlations (60-day rolling correlation of the percentage change)…

These governments have to know that these bailouts are going to affect their credit ratings. They need to steer clear of worsening that credit profile in a panic environment. The only way they can do so is by clipping bondholders instead of…

Moody's decision to place Popular's ratings on review for possible downgrade is driven by our view that the combined entity emerging after the integration with Pastor is likely to have a weaker credit profile than Popular's standalone…

What Do Steve Jobs' Obituaries Leave Out? His Appreciation for LSD | | AlterNet Apple's legendary co-founder Steve Jobs said acid was one of the most important things he did in his life.…