Credit Writedowns

The Martin Wolf piece about panic becoming all too rational fits very nicely with the macro case i made earlier today. He points to the private sector indebtedness and subsequent retrenchment as well as to the policy errors that have come…

This post is a brief outline in bullet points of my macro view of the global financial crisis both in terms of cause and effect and prediction. My goal here is to help me crystallize what the real issues are and how they are likely to play…

The link I want to highlight today is on the relationship between the slowdown in growth globally and US multinational earnings.

Editor's Note: The following is the text of recent remarks on the European sovereign debt crisis made by legendary investor George Soros at the Festival of Economics in Trento, Italy.

This is a belated commentary for Friday. I have a lot of links on the global growth slowdown today but I covered this earlier saying Weak global economic data signal likelihood of global recession. I wanted to highlight Marshall Auerback's…

Canadian home prices have been growing quite rapidly, particularly as compared to the US. Some may argue that this is justified because Canada's unemployment rate is lower. 8.1% in the US vs. 7.4% in Canada. Is that enough to justify such a…

The US employment report was simply terrible. Adding insult to injury the April was revised lower as well. The dollar initially firmed, but as participants consider the risks of QE3, the upside momentum stalled.

The economic data today from a number of different corners has been poor. In Asia, Europe and the US, manufacturing data point to continued slowdown. In the US, weak jobs numbers do as well. It has been clear for some time that growth was…

The Target2 problem is really a manifestation of an accelerating bank run. I have said many times, this is my major concern, the bank runs and the resulting shrinking credit and likely deadweight loss that accompanies them.

The euro zone continues to dominate the headlines, with both Spain and Greece on the verge of collapse. Ireland, however, has voted in a referendum today to decide whether it accepts the fiscal treaty that Germany has been pushing for in…