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Demographics, Housing, And Global Imbalances (Wonkish!)
Most, if not all, of the deficit nations that make up the Bretton Woods II edifice and subsequent global imbalances have seen notable housing and construction bubbles as part of their path towards excess leverage. The demand for housing and…
Links: 2010-03-26 – jobs, recessions and mortgages
Economist's View: One of These Things is Not Like the Others Fed's balance sheet rises to record in latest week | Reuters Columbia Center misses mortgage payment | Seattle Times Newspaper FT Alphaville – Stacy-Marie Ishmael –…
Michael Mauboussin on investor psychology
When I was in business school in the mid-1990s I took a securities analysis class with Michael Mauboussin, who was an Adjunct Professor then working at Credit Suisse First Boston (he's now at Legg Mason). The class, which focused a…
Links: 2010-03-25 – Devaluing the Yuan and following Google out of China
Sorry for the lateness. I was out of pocket all day. More are coming early tomorrow morning. Cheers. Edward LA Times Sees an Oncoming Option ARM Wave : CJR FT Alphaville » Devaluing the yuan Social Security Payout to Exceed Revenue…
Europe puts the loaded gun on the table but no bailout
The deal which European leaders have now struck is the best we could have hoped for given the political constraints for everyone involved. The 16 countries in the eurozone have agreed to a contingent aid package of loans and IMF assistance…
Will we see non-farm payroll go up for this month?
Going forward, due to time constraints I will not be publishing a weekly jobless claims report. However, I will report on the data when they are significant. Early next month, a much anticipated non-farm payroll (NFP)number is coming out.…
Consolidative Tone Emerges, Times to Catch Your Breath
Marc Chandler is the global head of Brown Brother Harriman’s top ranked Currency Strategy Team. For more of BBH’s currency views, please visit the BBH FX website here. Highlights The US dollar is consolidating yesterday’s outsized…
Figaro: France will accept the IMF for Greek bailout
A leading French daily is now reporting that the French are moving toward the German position on the Greek sovereign debt crisis. France may be willing to accept a role for the IMF, if it comes to this. The change in position comes a day…
Chanos: Where are the perp walks?
The New York Observer has a wonderful interview with Jim Chanos out today. In it, he talks about probable fraud and criminality at Lehman. I want to use his comments as a lead-in to a wider discussion about fraud and criminality in…
Links: 2010-03-24 – The usual suspects of Greece, China and Portugal
Greece to Default ‘At Some Point,’ UBS’s Donovan Says – Bloomberg.com FT Alphaville » Speaking of Portugal and sovereign risk: a downgrade FT Alphaville – Tracy Alloway – China’s great central economy, and big local problems…