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The roots of the European sovereign debt crisis go back thirty years
The Wall Street Journal is reporting that a plan to bail out Greece to the tune of $41 billion is now being formulated by Germany and France. It might seem as if a bailout is inevitable and that the terms of such a bailout are the only…
Links: 2010-02-28 – CRE meltdown in DC, emigration from Ireland and more
The last feature on the list of links below is on CRE in Washington D.C. where the economy is fairly robust. If you know anything about these properties, you would agree these are not poor properties at all. The problem with them is not…
The week in review at Credit Writedowns: 2010-02-27
Most Read Is AIG the main CDS insurer for Greek government debt? Drawing the right lessons from an obscure tale of obscure interest rate swaps Beijing is not Washington’s banker EM Currencies Remain Vulnerable As Pessimism Returns…
Links: 2010-02-27 – IMF in Greece, New York in disrepair and more
A parable about how one nation came to financial ruin. – By Charles Munger – Slate Magazine New York State of Disrepair – WSJ.com Liz Pulliam Weston: Broke? Calculate your debt ratios – MSN Money Federal Reserve talk belies likely…
Yamada: Ready for a bond bear market?
Uber-technician Louise Yamada is now warning that the secular bear market in equities is likely to be joined by one in bonds as well. In the video below, she talks with Bloomberg’s Pimm Fox about her view that bond yields are going to…
Nationwide: UK house prices fall 1.0%
Nationwide released it’s monthly house price survey, and it showed the first month-to-month fall in UK house prices since last Spring. However, house prices are still up 9.2% year-on-year according to their survey. Martin Gahbauer,…
Video: The Germans take on the Greeks
Things are getting heated in the Greek sovereign debt crisis – with the main battle lines being drawn between Greece and Germany. There are a lot of stories in the German press about Greek profligacy and cheating (see German-language links…
Montier: Was It All Just A Bad Dream? Or, Ten Lessons Not Learnt
James Montier, a member of fund manager GMO's Asset Allocation Team, examined whether we learned anything from the market declines of 2008 and early 2009. His answer is, as you would expect, not a lot. Below, is an outline of the ten…
The Squeaky Wheel Gets the Grease
The following is a post by Marc Chandler, head of Brown Brother Harriman’s Currency Strategy Team. For more of BBH’s currency views, visit the website here. Pessimism pervades discussions of Europe today. Optimists are not to be…
Still Want to Buy the Loonie on this Pullback
The following is a post by Marc Chandler, head of Brown Brother Harriman’s Currency Strategy Team. For more of BBH’s currency views, visit the website here. Canada reported a somewhat disappointing Q4 09 current account data today, but…