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Browsing Category
Economy
New York pension scandal as some collect more in benefits than final salary
New York is one of the states at highest risk of default and budget cuts are coming. However, for now, those cuts will be limited to service cuts, dismissals and furloughs. Public sector pensions remain an intractable issue that will move…
Chinese Banks: Aggressive tightening could spell trouble for non-performing loans
As the Chinese government looks to slow the economy, non-performing loans in the banking sector will come into view. Clearly, the Chinese authorities want to slow the pace of house price and consumer price inflation and reduce rampant…
Banks Making Shed Loads But Fannie And Freddie May Be “Losing Money as a Matter of…
The FDIC is out with its Quarterly Banking Profile for Q1 2010. And despite a rise in the FDIC's 'Problem List of Banks' to 775 in Q1 from 702 at the end of 2009 and 552 in Q3 2009, banks earned a ton of money – more than $18 billion in the…
Where’s the Land of Opportunity These Days?
By Doug Hornig, Casey Research
Recent decades have witnessed an amazing shrinkage of the American manufacturing sector, from #1 in the world to virtual non-existence. Companies, taking advantage of cheaper labor costs abroad, have…
China’s yield curve flattens further
On China via Andy Lees of UBS: The yields on two sets of bills moved in opposite directions. The PBOC issued 3 month bills at a yield 4bpts higher than the prevailing rate, whilst 3 year bill yields fell 2bpts. “The divergence underscores…
China: Time to Admit To, Then Douse, Our Inflation Fire
I don't buy into the core inflation number that the press or Federal Reserve use. Today's Wall Street Journal has an article on the front page entitled "Inflation at 44-Year Low." When you read further, you realize they are using…
No Recession in the Global Economy, but Divergence Aplenty
Yours truly is actually a macroeconomist, indeed with a knack for financial markets, but still; a macroeconomist nonetheless. However, you would not have gotten that impression from the writings here end last week where I worried a lot…
Whitney: The Small Business Credit Crunch
Meredith Whitney sounds off in today's Wall Street Journal about small businesses. She is worried about the lack of credit they are getting and its effect on the tenuous economic recovery in keeping the unemployment rate high. She writes:…
Abu Dhabi’s Gold Dispensing ATM
We need one of these! Citi invented the ATM, right? I wonder if Citi is on to this?
Eurozone slowdown coming; can the Euro survive?
The news out of Spain that the government is taking drastic action to avoid debt revulsion is a clear indication that the Eurozone is entering a new phase of economic weakness. All across Europe from the UK to Greece to Spain to Germany,…