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Household Net Worth – Back to the Old Normal
There is a new graph on the internet that will be seen and discussed at length in the coming days and weeks. It shows how household net worth has changed over the past 59 years. The graph below, originally from Macro and Other Market…
James Montier does MMT
It seems that a lot of analysts have caught onto the MMT framework popularized by the late economist Wynne Godley and made topical in this downturn by Rob Parenteau of the Richebacher Letter. We have seen Martin Wolf use Godley and…
Chart of the Day: Home Builder Stocks and New Home Sales
In a note to investors today, a well-regarded strategist on the equity sales desk at a major sell side firm put up the following two Bloomberg charts next to each other. The two charts reflect different time frames but are from related…
Is Brazil Overheating?
Given near universal austerity measures in Europe and thoughts of the same in the US, increasingly it looks like the emerging markets are expected to do the heavy lifting to sustain a global recovery. As I said recently, "for the…
On Wikileaks’ Afghanistan War Diaries And Other Links
Wikileaks and Afghanistan The Afghanistan Protocol: Explosive Leaks Provide Image of War from Those Fighting It - SPIEGEL ONLINE Afghanistan war logs: Massive leak of secret files exposes truth of occupation | World news | The…
Monday Market Preview: Equities Higher, Dollar Soft, Bonds Mixed In Wake Of Stress Tests
From the BBH Currency Strategy Team Highlights US dollar is mostly softer so far today vs. the majors, as sentiment remains overall good after the stress test results were released (see below). Price action since the results came…
Under Stress
After a long and rather tense wait, the initial response to the publication of the European bank stress tests was always going to be something of an anti-climax. Indeed the results should hardly have comes as a surprise to anyone It is…
On race and politics and other links
More On Race and Politics - My take: when the chips are down, people look for someone or something to blame. For a good example of how xenophobia increases during economic hardship, see my post Mexican Repatriation: The Great…
PBS: Scientist Shows How Corexit, Bacteria Disperse Oil
PBS has a great video and article on how dispersants are being used in the aftermath of the Deepwater Horizon oil rig blow-out. The video is below. The related article linked at the bottom has another video on using methane to measure the…
Edward Hugh speaks to PBS about Spain’s underground economy
PBS' Paul Solman takes another look at Spain's economic woes, which include a 20 percent unemployment rate. In the Web extra above, he talks to British economist Edward Hugh, a long-time resident of Barcelona, about Span's underground…