Credit Writedowns

Andy Xie thinks the Fed is on an inflationary path.  Last month, he wrote an article in Caijing which says that ‘stagflation lite’ is the Federal Reserve’s preferred outcome. What’s interesting is his recent article about the need for…

This comes from the Guardian (hat tip Lee): The world is much closer to running out of oil than official estimates admit, according to a whistleblower at the International Energy Agency who claims it has been deliberately underplaying a…

Financial Armageddon: In-Your-Face Influence Peddling FT.com - Not all bubbles present a risk to the economy (Blinkered Fed thinking on asset bubbles. Reminiscent of the Greenspan era.) Fitch Says U.K. Rating Most at Risk Among…

Columbia University Professor and former Federal Reserve official Frederic Mishkin wrote a much-discussed Op-Ed in the Financial Times yesterday. In it, he asks Are potential asset-price bubbles always dangerous? He answers this…

I am feeling fairly ill so posting will be light today. Hopefully, I will back in shape tomorrow. VIDEO: Former Brit Ambassador Craig Murray Says UK and USA Sent Prisoners to Uzbekistan for Torture Part 1 Patrick J. Buchanan…

In the wake of a few significant elections in the American states of New York, New Jersey and Virginia, a lot of pundits are putting their spin on what these elections mean for Barack Obama and his political agenda. On the whole, I find…

The long-coming commercial real estate bust has arrived in the U.S. and elsewhere, a result of sky-high prices met by a severe downturn.  Prices could only work in a best-case economic scenario and large busts are now coming (see my…

This is pretty funny. Hat Tip Rob Johnson and New Deal 2.0. Source Money performed by Cypress Hill - Answers.com What does "dollar, dollar bill, y'all" mean? – Yahoo! Answers

That’s how my friend Jeff described the most recent flap over a banker allegedly using religion to defend the industry. If you haven’t caught it, Goldman Sachs CEO Lloyd Blankfein was quoted in the Sunday London Times as saying “we have a…

For those of us interested in seeing more robust and knowledgeable regulators in government service, the recent news that Rick Bookstaber is joining the SEC is quite welcome. While I disagree vigorously with much of recent economic policy,…