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Surprise, Surprise
by Annaly Capital Management A quick follow up to our recent post on the Great Bond Bubble Debate , which was kicked off by an op-ed piece in the Wall Street Journal by Jeremy Siegel and Jeremy Schwartz. The seductiveness of the Jeremys’…
More on why jobless claims aren’t yet signalling double dip
Jobless claims have been quite elevated of late, averaging around 450-480,000 for the past few months. While these are worrying figures, they do not in and of themselves point to recession. In my last post I used a chart of the year-on-year…
On How The Cuban Model Doesn’t Work And Other Links
Topic of the Day: Cuba Fidel: 'Cuban Model Doesn't Even Work For Us Anymore' - International - The Atlantic Castro: I Was Wrong During Cuban Missile Crisis - International - The Atlantic Fidel to Ahmadinejad: 'Stop Slandering…
The Yen Conundrum
Seventy years ago next month, Winston Churchill described Soviet foreign policy as a “riddle wrapped in a mystery inside an enigma”. That now may be apropos of the Japanese yen. Japan is a country that appears to be literally in decline.…
Making Money from Municipal Waste
Frederick Sheehan is the author of Panderer to Power: The Untold Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession (McGraw-Hill, 2009). Harrisburg, Pennsylvania, is defaulting; Half Moon Bay, California, is…
Chinese Yuan to Take Center Stage Today
Highlights The US dollar is firm against the safe-haven yen and Swiss franc but is winding down the week on a softer note against the euro, sterling and the dollar-bloc currencies. Most emerging market currencies are firmer too in an…
The Significance of Consumer Deleveraging
by Comstock Partners For some time it has been our view that the recent recession, unlike all other post-war recessions, was caused by a credit crisis, and that it would therefore be followed by a series of weak recoveries and frequent…
Jobless claims still not pointing to imminent double dip recession
I tend to put a lot of stock in jobless claims as a coincident (real-time) indicator of the economic scene. My reasoning here is fairly simple. Household spending makes up 70% of the economy. Households are dependent on labour wages for the…
Galbraith: Thoughts on a Plan B
The following is a post by James K. Galbraith as originally published this Monday at the New America Foundation's website. In July 2008, in a memorandum for the Obama campaign team and later published in Challenge, I wrote as…
Norway Buying European Peripheral Bonds
Norway's government pension funds is the second largest sovereign wealth funds in the world with around $450 bln under management. Abu Dhabi is thought to have the largest sovereign wealth fund. The finance minister indicated that it has…