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Browsing Category
Economy
Demographic Time Bombs – They May Not be What You Think
Long term (over 20-30 years) demographics will favor the U.S. over Germany and China in international trade.
Do Most Members of the US Congress Deserve Re-Election?
I thought this chart on the upcoming US midterm elections was interesting because independents are tracking Republicans very closely while Democrats are living in a different world regarding Congress. Here is what Gallup says:…
Orwell Targets Bernanke: An Unteachable Hole in the Air
Frederick Sheehan is the author of Panderer to Power: The Untold Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession (McGraw-Hill, 2009). On Friday, October 15, 2010, Federal Reserve Chairman Ben S.…
An update on asymmetric information and corporate governance in bank bailouts
Last June I wrote a post on the topic of corporate governance that pointed to one of only two outcomes as the likely result of the bank bailouts. Outcome number one was bank prudence and low credit growth in the face of uncertainty. Outcome…
The Alchemy of Securitization
This is a cross-post from the new economic blog Global Economic Intersection. Ratings agencies have been criticized for inadequately determining risk in the massive collection of debt securities created in the credit bubble. A second…
What I didn’t say on the BBC
I was on BBC Radio Five Live at about 4AM local time this morning for a good 5 to 10 minutes, talking about the coalition government's austerity budget. My basic message was that austerity-lite might be defensible but full austerity is…
Simon Johnson: The Coming Meta-Boom and Meta-Bust
Simon Johnson, a former chief economist for the International Monetary Fund and author of 13 Bankers: The Wall Street Takeover and the Next Financial Meltdown, says the recently passed Dodd-Frank Financial Reform Act does little to…
Institutional Investors now suing Bank of America for put backs on MBS
Felix Salmon is right. This is going to be a big, big problem for the financial institutions. A group of investors holding $16.5 billion of mortgage bonds took a step toward a possible suit against a Bank of America Corp unit for…
More Thoughts On China
by Win Thin We don’t think that the timing of the PBOC hike was any coincidence, as the monthly data deluge from China is scheduled for October 21. It appears that price pressures and bank lending remain too strong for the…
PBoC rate hike small move and very late
by Michael Pettis The PBoC has just announced that it is hiking the one-year lending and deposit rates by 25 basis points. Here is what Bloomberg says: China raised its benchmark lending and deposit rates for the first time since 2007…