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Browsing Category
Economy
State and Local Government: What a Drag
The European debt crisis has thus far unfolded as a sovereign debt crisis. And the sovereign here is the national government. This is particularly true in Greece. However in the coming months, it may become clearer that local…
Lakshman Achuthan talking credit growth and recovery on Squawk Box
This morning ECRI's Lakshman Achuthan was talking about the recovery on CNBC. His take is that the recent slowdown in GDP growth is normal for the recessions since before World War II so far. If we dip even more from here, we have trouble.…
Mauldin: Be Careful What You Wish For
A post by John Mauldin. "Everyone" is upset with the level of fiscal deficits being run by nearly every developed country. And with much justification. The levels of fiscal deficits are unsustainable and threaten to bring many…
ECRI Weekly Leading Index falls further into negative territory
Growth in the ECRI weekly leading index fell further into negative territory. The growth rate for the week of June 11 weakened to -5.7%, down from -3.7% in the previous week, which had been the first negative reading in almost a…
The largest European banks by assets
Because the European Union will stress-test its 25 largest banks, it makes sense to compile a comprehensive list of Europe's largest banks.
Ten Reasons Why This Has Been A Weak Recovery
Comstock Partners' latest weekly note demonstrates the core issue is a longer-term deleveraging that cannot be solved by fiscal and monetary stimulus. This likely means lower inflation-adjusted stock prices when the stimulus-induced…
Putting The Weak Philly Fed Numbers in Context
At 10AM ET the The Federal Reserve Bank of Philadelphia released its general economic index. The data were not good as the index came in at 8 for June down from 21.4 the previous month. Because numbers above zero signal economic growth, the…
Chart of the day: Exposures to Greece, Ireland, Portugal and Spain
I am going through the BIS Quarterly Review that just came out and it is packed with useful information about the global economy. With regard to the sovereign debt crisis, I found the following chart a good one for getting a feel for…
EU Flags the Risk of Debt Snowballs in Southern Europe – Irony or Tragedy?
As it seems that we are finally about to get something which resembles a stable summer here in Denmark it may seem strange to suddenly start talking about snowballs. Yet, the idea of debt snowball is very relevant in the current environment…
Hussman: Four Things To Look For As A Harbinger of Recession
John Hussman is out with his latest weekly and he discusses... the ECRI Leading Indicators of course. Everyone is talking about these numbers. He is bearish, but as I have also noted the ECRI data are not yet predicting…