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Browsing Category
Economy
US GDP growth rate is unsustainable; recovery will fade
The US turned in a fairly robust quarter in Q1 2010, with real GDP growth meeting expectations at 3.2% annualized. This comes on the back of a very robust annualized 5.6% growth in the previous quarter. This is the best growth two-quarter…
All sovereign debt credit ratings and outlooks
This is a list of all the credit ratings available on sovereign debt from all three big credit rating agencies, Fitch, Moody's and S&P.
Goldman’s public purpose and where I have problems with the Abacus deal
As I said yesterday, investment banks are institutions which do fulfil a useful role in society. I would define their role as companies where large institutions and governments receive financial advice and raise capital. Goldman Sachs…
Is Goldman fulfilling its public purpose?
Look back at the prepared testimony that Lloyd Blankfein, Goldman's CEO offered to the US Senate two days ago. In it he clearly defines what Goldman Sachs public purpose is – what its societal function is. Are they fulfilling…
Contagion Turns East
Well, I don’t know how many other people have noticed, but the Hungarian forint tanked today. This is the one I had been waiting for, and expecting. And precisely why did it tank? It tanked because Viktor Orban, Hungary’s…
All S&P sovereign credit ratings in order from AAA to junk
All of the debt ratings from Albania to Zimbabwe as well as whether the revision outlook is positive, stable or negative and when the rating was first placed.
Poll: Will Greece default?
Q: Will Greece default?
Here are the possible answers for the poll (embedded below on the site)?
No, they will take the necessary austerity measures plus receive enough support from the EU and IMF.
Yes, but they will stay in the…
Pain
I was on two TV programs talking about Goldman today. That's actually a first. Of course it's always nice to asked to speak about finance away from Credit Writedowns and I will provide you with the videos and some commentary later…
Possible Misunderstandings about Municipalities and their Bonds
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). Problems of state and municipal finance worsen. Governors announce new…
Albert Edwards: Global economy to roll over in six to nine months’ time; bearish for shares
SocGen's Albert Edwards was out with a note today which is in line with my calls for a marked slowing of the economy toward the end of this year. He indicates that the rate of change in leading indicators in the real economy and in markets…