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European banks: still undercapitalised
European banks are still in need of time or money to recapitalise their weak balance sheets. This has to be especially worrying for UK banks as they have raised a significant amount of capital and their housing market has yet to see the…
Chart of the day: US Household debt
This post is part of my chart of the day series.
Royal Bank of Canada: time for takeover talks
The Globe & Mail has a storyline out today that caught my eye. It suggests that Royal Bank of Canada (RBC) would find some god takeover opportunities in the US. While I dismissed a similar storyline regarding UBS in Europe from the…
UK house prices need to fall up to 63%
According to the Daily Mail, house prices need to fall by a lot more than the 8% to date in the UK in order to make them affordable for first time home buyers. The 63% number comes from the least affordable borough, Westminster in London,…
Ireland faces two-year recession
That's what Sir Howard Davies, a former deputy governor of the Bank of England (BoE), has to say.
Chart of the day: Inflation
Inflation is clearly still a problem. The CPI for May 2008 was released by the BLS today showing consumer inflation rising at a 4.2% rate y-o-y, unadjusted for seasonal factors. This is either good news or bad news, depending on how you…
The Japanese Problem is now ours
Ben Bernanke claims to be an expert student of the Great Depression and its causes. Therefore, many feel comforted that he knows what to do should in order to avert a repeat of 1929. But does he know how to prevent a repeat of the Japanese…
Ireland votes No on Lisbon Treaty
The Lisbon Treaty, which was to give the European Union more say over matters in EU member states received a vote of no confidence from Ireland. The result was 52% against and 48% for. Just as with the EU constitution, there is great…
Is the Fed going to raise rates?
No! The Fed is not crazy. Market participants are forgetting that the U.S. economy is still not out of the woods. Moreover, many financial institutions are drowning in writedowns. None of this should be expected to change anytime soon.…
Jim Jubak joins the inflation made in Asia crowd
Yesterday, I posted a blog entry detailing how Stephen Roach sees inflation as a concern, not because of food and oil, but because of Asian manufacturers. I find his argument compelling. Don't get me wrong, I think deflation is the…