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California will go bankrupt

You can see this coming.  It is looming and has been for some  time.  Remember that California is the biggest loser in the housing crash and it has one of the highest unemployment rates in the United States.  I have been warning that this…

1931

This account bears remembering because we can see the 1929-1933 descent as a two-part episode, with the second part starting here. It should be noted that there were a lot of positive economic signs before the Creditanstalt ruined this.…

The top 25 European banks by assets

Just a few hours ago, I posted an article about European toxic asset exposure based on a Telegraph article.  The crux of the Telegraph piece was that European banks have a shed load of bad debt on their books.  A secret European Commission…

Byron Wien: Ten Surprises for 2009

As the New Year unfolds, it is time for predictions. I have done my part, giving a full account of where I see things headed in 2009 in my post "Top ten predictions for the 2009 global economy" and where I want to see them headed in 2009 in…

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