2013

Once again some analysts in Europe question the potency of the so-called currency wars launched by Japan and the US. The euro-yen currency cross has had an unprecedented rally, changing the export landscape where Japan and Europe…

Jeremy Grantham's most recent quarterly report was released yesterday. Grantham expanded on his low-growth macro view with a number of additional insights based on both secular and political trends dominating the US economic picture. As…

News links for 7 February 2013

According to the Irish Times, the government of Ireland has entered into a deal with the ECB to cut the country's debt by liquidating the nationalised Irish bank Anglo Irish. As I noted in the Saturday post on Ireland's superior economic…

“Who is afraid of currency wars?” asks Gavyn Davies in the FT. I have known Gavyn for 25 years and have to confess that he is way out of my league intellectually. He is one of the smartest people I have ever met and, thankfully, also one of…

News links for 6 February 2013

French President Francois Hollande delivered an impassioned speech before the European Parliament in Strasbourg today decrying the strength and volatility of the euro exchange rate. This was the best indication that Hollande is feeling…

News links for 5 February 2013

According to Greece's finance ministry, Greece's government was able to record its first primary surplus in years. This is a measure of a budget based on revenue minus expenditure excluding interest costs and is commonly thought of a…

Europe seems to have reached the nadir economically, judging from the last few economic data points. But there is still a long way to go. In my view, Spain remains the most important country in Europe's sovereign debt crisis because of its…