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IMF: Europe Risks Sovereign Debt and Bank Meltdown
This video is explosive. Dr. Robert Shapiro, an advisor to the International Monetary Fund, is saying in no uncertain terms that the dithering approach that Europe has taken will lead to crisis in a very short period, two to three weeks.…
Avoiding recession?
This is an argument in favor of not avoiding recession but of avoiding depression.
Is the US headed for recession?
Bottom line: I think we are in the technical recovery phase of a double dip recession that is a once in a generation period of balance sheet repair. To me, it’s a depression. Irrespective of what you call this thing we are living through,…
Chart of the day: Largest German trade partners
Since I did the numbers for the US, I thought I would do the numbers for Germany too. Below are the bilateral trade figures for Germany in 2010, first ranked by deficit with country and then by surplus with country. Germany has a deficit…
News Links 10/06/2011
EU proposes 'co-ordinated recapitalisaion' - The Irish Times - Thu, Oct 06, 2011 tags: Europe banks capital…
Chart of the day: Largest US trade partners
Below is the list of the largest trade partners of the United States as compiled by the US Census Bureau. The United States has a bilateral trade deficit with 12 of the 15. So I have ranked them according to trade deficit, with China in…
China currency bill is about US politics, not trade
Below is a video of my appearance on RT International last night discussing the recent bill to authorise sanctions against the Chinese for currency manipulation. I see this bill as all about the politics and little about the economics.
News Links 10/05/2011
Robert Reich (Follow the Money: Behind Europe's Debt Crisis Lurks Another Giant Bailout of Wall Street) Follow the money: If Greece goes down, investors start fleeing Ireland, Spain, Italy, and…
The End of the Fake Recovery
This is going to be a relatively long post. But I think it’s important. I have been meaning to update my thinking about the “Fake Recovery” which I heralded in early 2009 as the economy in the US began to turn. My view is that without…