Credit Writedowns

Below are a few media reports from September 2009 discussing the BP Gulf of Mexico Tiber Oil Field find when it originally hit the newswires. This was the deepest oil and gas well in human history, going to a depth of 35,000 feet.…

The latest updates from the Deepwater Horizon oil spill and other links

In addition to the already worrisome environmental implications of the Deepwater Horizon oil spill, the economic implications are now starting to look serious. We may see the military take over at some point unless BP can plug these leaks.…

The top kill procedure did not work. So it's on to the next desperate measure. Meanwhile thousands of gallons continue to leak from this well. Also see: Documents Show Early Worries About Safety of Rig - NYTimes.com  BP's…

Must-read: The Crisis in Spain La Caixa cree que la fusión con Caixa Girona beneficia a Cataluña - ABC.es Spanische Regierung kündigt weitere Einsparungen an (Wirtschaft, Aktuell, NZZ Online)  Spain labor reform deadline…

With governments printing money, inflation, now propping up asset prices, will eventually come to consumer prices. First the deflation, then the inflation, I say. Ray Dalio agrees. But, he also has some choice things to say about the…

Well, here I am spending my last day in Sitges, attending the annual meeting of the Circulo de Economía (which is why I have been so silent of late). This annual meet-up tends to attract many of the leading participants in Spanish economic…

This was a daunting week with equity markets down across the globe. I have the sense that the strength of the recovery is fading – and without some pickup out of the BRICs or via stimulus, we are likely to see a double dip (my baseline…

A cute video on the inventive ways you can use an iPad.

This comes via Win Thin at Brown Brothers Harriman: Fitch downgraded Spain to AA+ from AAA and inexplicably with a stable outlook.  Stable?  Spain should be downgraded multiple notches.  This comes a few weeks after…