Guest Author – Page 18 – Credit Writedowns

Credit Writedowns

Finance, Economics, and Markets

Leaked Greek bailout document: Expansionary fiscal consolidation has failed

Full text: Moody’s downgrades Spain’s government bond ratings to A1, negative outlook

Paul Davidson: The State of Economics (wonkish)

Full text: Moody’s downgrades Italy’s government bond ratings to A2 with a negative outlook

BEA Adjusts Second Quarter GDP Growth Rate Upward

Mosler: Why Greece should not be allowed to default

Why is the Fed lending dollars unsecured to the ECB… again

Additional US dollar liquidity-providing operations over year-end

The damaged ECB legitimacy

Mosler: The Speech that President Obama Should Make