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Economy
Estonia’s economy contracts by ‘only’ 9.4% in Q4 2009
This post was originally published at A Fistful of Euros. Hard on the heels of yesterday’s Latvian GDP numbers we now have news that Estonia’s economy shrank at the slowest annual pace in a year at the end of 2009 as a modest recovery in…
Greece: Statement by the Heads of State or Government of the European Union
Below is the text of the brief EU statement on Greece debt crisis. All euro area members must conduct sound national policies in line with the agreed rules. They have a shared responsibility for the economic and financial stability in…
Jobless claims fall markedly
The past week saw a huge fall in the number of persons making an initial filing for jobless claims. The U.S. Department of Labor reported: In the week ending Feb. 6, the advance figure for seasonally adjusted initial claims was 440,000,…
Greek financial debacle threatens Swiss banks
There are a lot of interlocking threads in the Greek saga. One consistent theme that ties all of the different threads together is the fragility of complex systems. In our globalized and complex world of finance and banking, every major…
The Atlantic: A new jobless era is transforming America
The Atlantic has an epic piece on employment trends in America in this month’s issue. This is a must-read piece of journalism, not just for the anecdotes and analysis of this particular downturn, but also for its statistics and…
Obama: bank executives making millions "is part of the free-market system”
President Obama made a couple of comments in an interview with Bloomberg BusinessWeek that, while potentially true, point yet again to someone out of touch with populist rage in America. It seems that Obama is still courting big…
Latvia’s economy contracts almost 18 percent in Q4 2009
This post was originally published at A Fistful of Euros. Well, as we say in English, it never rains but it pours. Latvia, which has had the deepest recession of all 27 European Union member states, contracted by nearly 18 per cent in the…
Roach: "weak, anaemic, fragile, potential vulnerable to a double dip”
This is how Stephen Roach describes the economy despite the largest monetary and stimulus in global history. Below is a TV interview Roach recently did on CNBC TV-18 as a video in two parts with the linked transcript at the bottom. …
Colbert makes comedy of Sarah Palin at the Tea Party convention
The money line comes right at the end.
Rogers: Chanos “couldn’t spell China 10 years ago”
No he didn’t. Jim Rogers, the bow-tie wearing Quantum Fund co-founder and Sino-enthusiast, has recently implied Jim Chanos doesn’t know China from a hole in the ground. Rogers is not happy about the recent bearish pronouncements…