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Deepwater Horizon Spill Size Estimates Keep Growing, As Do Costs
John is one of the ten most followed writers at Seeking Alpha and a Senior Contributor at TheStreet.com and Real Money. Last week I tried to bracket the cost exposure for BP as a result of the Deepwater Horizon well head blowout and…
More Thoughts on Switzerland and Why the Euro is Not Lower
Investors are still trying to get their heads around the SNB's preliminary indication that is reserves rose to CHF232 bln in May from CHF153 bln in April. This represents more than a 50% increase in reserves in a single…
Why is US revolving credit decreasing?
This morning David Rosenberg noted: We also received the U.S. consumer credit data for April yesterday afternoon and the $1.0bln rise in total outstanding should be viewed in the context of the sharp revision in March (to now show a…
A few thoughts about the euro crisis and the psychology of change
When was the last time an unsustainable economic situation was solved without a crisis? Seriously, that's a question. I can't think of one. The way I see it, politicians are always focused on the short-term and that invariably…
On Spanish and German Austerity and Other Links
Must-read: Spain and German austerity The World from Berlin: Merkel's Austerity Program Is 'Faint-Hearted and Unbalanced' - SPIEGEL ONLINE - News - International BBC News - German cabinet backs Merkel fiscal austerity plan…
Is Government Crowding Out Private Sector Jobs?
We got a huge pop in jobs in last month's employment report. And this was mainly responsible for the drop in the unemployment rate as over 400,000 temporary census jobs came online. John Lounsbury figures that the individuals employed…
Euro Rebounds Against Dollar But at Record Low Against Swiss Franc
Highlights The US dollar eased in Asia as a modicum of an appetite for risk returned, but the greenback rebounded in the European session. The euro returned to the $1.19 area after being unable to rise above the $1.20…
Breakdown
I know the S&P is now through both the 50-day and 200-day moving average but it did break out to the upside last time it broke down below the 50-day. The 200-day breakdown is a bit more serious though, of course. You…
Apple’s new iPhone is "one of the most beautiful things we’ve ever made"
iPhone? Try eye candy! “This is beyond a doubt the most precise thing, one of the most beautiful things we’ve ever made.” -Steve Jobs at Apple’s Worldwide Developer Conference The new iPhone comes in 16GB and 32GB…
The G-20 Votes for Global Depression
By Rob Parenteau and Marshall Auerback on how global ‘fiscal austerity’ benefits bankers and wealthy, well-connected political insiders, while screwing the rest of us. Marshall Auerback is a market analyst and commentator. Rob Parenteau,…