Credit Writedowns

The news out of Spain that the government is taking drastic action to avoid debt revulsion is a clear indication that the Eurozone is entering a new phase of economic weakness. All across Europe from the UK to Greece to Spain to Germany,…

There's no question that the potential destruction of the euro has moved from the realm of "Black Swan" event to a serious possibility.  Some of chosen to read broader implications into this, suggesting that this is the…

RBS' Chief Market Strategist Bob Janjuah is one of the more bearish prognosticators in global finance.  He takes a fairly anti-fiat currency position and couches what he sees with the present financial crisis as the era of the destruction…

Subscribe to Our News Feed If you would like to receive our links in real-time please follow me at @edwardnh. Economic News "Jobs" Drops to No. 2 on Americans' List of Top Problems - Gallup E.C.B. Advocates Caution in…

Highlights The post EU/IMF bailout out euphoria continues to wind down and this means that the US dollar and the yen are in solid shape. The euro has eased back to pre-weekend levels, trading closer to the $1.2650 mark by late euro session…

Imagine a situation in which 49 other states are forced to unite together to help forestall the imminent insolvency of California, and you'll get a good idea of the limitations inherent in the EU "rescue proposal" for Greece and…

A bit of gallows humour for my German-speaking readers. (Hat tip Yves Q. Smith) Source Die Eurohühner - Föhrenbergkreis Finanzwirtschaft

I was reading an interview in Handelsblatt with the EU's Olli Rehn and I found this exchange telling: Handelsblatt: Mr. Commissioner, with yesterday's decision is an EU-debt agency created which issues Euro Bonds? Olli Rehn: I will…

From his latest "Breakfast with Dave" missive. Well, I think the turbulent global events of the past few weeks underscore the reason why I have maintained a cautious investment approach for the past year, notwithstanding the…