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Is Now a Good Time to Buy Gold?
By Jeff Clark, Senior Editor, Casey’s Gold & Resource Report While we’re convinced gold and gold stocks are destined for much higher levels, buying when prices are low can mean the difference between a double or triple and a…
Euro Weakens As More Stress Test Leaks Are Disappointing
From the BBH Currency Strategy Team Highlights US dollar is softer on the day vs. the majors, gaining only against EUR and SEK as markets search for direction ahead of Friday’s stress test results. The euro is trading softly after…
Voodoo That I Don’t Do
If you want to cut taxes and say you prefer them to increased spending, fine. But let's not act like tax cuts reduce the deficit. They don't. When I say economists and policy makers abuse economic ideology for political purposes, this is…
The Shadow Knows
From Annaly Capital Management For those who missed it (and we had, until we were tipped by James Aitken, thank you very much), a vital paper was posted to the New York Fed’s website in the beginning of the month. “Shadow Banking,” a staff…
Deficits Do Matter, But Not the Way You Think
By L. Randall Wray, Professor of Economics at the University of Missouri-Kansas City, Research Director with the Center for Full Employment and Price Stability and Senior Research Scholar at The Levy Economics Institute. In recent months,…
Talk of All Spanish Banks Passing Stress Tests Boosts The Euro
From Win Thin, Senior Currency Strategist at Brown Brothers Harriman. Spanish media is quoting Finance Minister Salgado as saying all Spanish banks had passed the stress tests. Spokesperson later tried to walk these comments back,…
On The Linkage Between Welfare and Warfare and Other Links
Here are the links today. I have a lot more than this but some time limitations this morning as I am preparing for a spot on BBC Five Live for 5PM UK time (12PM EDT). The Prime Minister is in town and I will provide some economic commentary…
Do sovereign debt ratios matter?
By Michael Pettis In the past few weeks I have been getting a lot of questions about serial sovereign defaults and how to predict which countries will or won’t suspend debt payments or otherwise get into trouble. The most common…
Market Preview: Treasuries as Safe Haven; Dollar and Equities Mixed
This comes via the BBH Currency Strategy Team. Highlights US dollar is mixed on the day vs. the majors, as markets search for direction ahead of Friday’s stress test results being released. The euro made a marginal new high for the…