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Gross disagrees with Buffett, finds ratings agencies ‘nonsensical’
While Warren Buffett is out tarnishing his reputation with quotes about how "phenomenal" the ratings agencies' business model is, Bill Gross is accusing them of aiding and abetting the financial crisis. Here's a quote from Bill…
Stat of the day: Highest default probabilities are Greece, Venezuela, Argentina
Within the euro-zone, Portugal comes in at #6. Spain and Ireland are not in the top ten. Source: CMA Sovereign Risk Monitor
Links: 2010-05-05 Euro-zone meltdown and other uplifting stories
If you would like to receive our links in real-time please follow me at @edwardnh or go to our site’s News Feed. Annaly Blogs - Let’s Get This Party Started…No, Wait Greece, Germany, and the Dangers of Beggar Thy Neighbor « naked…
Slovakia first euro-zone nation to reject Greek aid package
The Slovaks have apparently balked at the Greek aid package hammered out in crisis this past weekend. While they have not formally rejected the package, the Slovak Prime Minister has said he cannot grant Greece a loan before it…
Local Government Fiscal Emergency: Fresno, CA
Tax revenue at state and local governments has plummeted. With house prices in California down substantially, it is even more dire for municipalities there. The result will be widespread budget cuts and, where possible, income tax hikes.…
Hyperinflation in the USA
Let's attack the question of hyperinflation using Zimbabwe and Weimar Germany as examples. These are the two most extreme cases of hyperinflation that economic historians have ever witnessed. They are instructive regarding what causes…
Markets Give Thumbs Down on Greece Aid
While Angela Merkel is off trying to sell the Greek aid package to German voters in the run-up to a crucial regional election in Germany, the markets have already voted on the 110 billion Euro EU/IMF deal: thumbs down. Win Thin of Brown…
Deepwater Horizon Spill Puts Offshore Drilling’s Future in Doubt
Source Gulf Coast Oil Spill Puts Political Future of Offshore Drilling in Question - PBS
Links: 2010-05-04 Manufacturing in China slows but US and UK accelerate
U.S. Car Sales Climbed 20% in April - WSJ.com UK manufacturing grows at fastest pace in 15 years - Telegraph Chinese Manufacturing Growth Slows, Survey Shows - Bloomberg.com Top 50 Business Books, ‘Animal Spirits’ to ‘What the Dog Saw’ -…