Credit Writedowns

Below is the video of Richard Nixon closing the gold window exactly 43 years ago today. Hat tip to Raja Korman

I am very interested in the intersection of private debt, financial fragility and economic growth because I believe this intersection is pivotal in understanding whether the secular forces which led to the Great Financial Crisis have been…

China dumps Symantec, Kaspersky Lab from approved vendors - CNET ekathimerini.com | Moody's upgrades Greece by two notches China Services Index Drops to Six-Month Low on Property - Bloomberg We owe five times more than we did in 2008 -…

This week’s economic and market themes piece is going to be a little shorter than usual because I have covered a lot of the major topics earlier in the week. United States. Let’s start with the US. The jobs data today showed 208,000 jobs…

Puerto Rico Power Authority in Deal With Banks to Defer Loan Payments - WSJ Argentina accuses US of judicial malpractice for triggering needless default - Telegraph History Suggests China Is on Verge of Banking Crisis - China Real Time…

This post is on the same topic of the US economy that I addressed yesterday. But I want to go a bit deeper and add more colour to my comments. Signs that the US economy’s cyclical outlook are improving are getting ever more numerous,…

FYI: After the tech links, there is at least one link in this lot that I do not endorse but do think is required reading. Android crypto blunder exposes users to highly privileged malware | Ars Technica Tor received $1.8 million in US…

The bottom line here is that I have been and still am bullish on the cyclical prospects in the US, UK and Spain in particular. The US jobless claims numbers are unusually low and that tells you that slack in the labour market is declining.…

News links for 30 Jul 2014

By Andrea Terzi originally published at Social Europe and republished with consent of Author The anti-austerity vote in the European elections reflected two different kinds of discontent. One is a feeling of frustration, which is…