Credit Writedowns

As a follow-up to my post on debt and it’s exclusion as a subject of merit amongst several schools of economic thought, I wanted to bring a New York Times article from 1988 to your attention. This article by Peter Kilborn, a Washington,…

Today, Moody’s warned that Iceland, Latvia and Hungary were stabilizing but that their economies remained fragile. The problem is high debt levels, which is restraining consumer spending. Recovery in the Eurozone has been the main aid to…

Let’s say I run a company. For the sake of argument, we’ll call it a shoe store in New York City. I am making $100,000 net per year now. But, I look around me and see huge opportunity for growth. So I go to my bank and ask for a loan to…

Sarah Palin the populist has become Sarah Palin the free trader. In a wide-ranging and well-received speech in Hong Kong, Palin supported a more Libertarian free-market approach, slamming the recent imposition of tariffs on Chinese tires by…

Boy dies of swine flu infection | The Japan Times Online The boy became the youngest, and 18th, fatal victim of the epidemic in Japan Robert Reich's Blog: Why the Dow is Hitting 10,000 Even When Consumers Can't Buy And Business Cries…

How about all three. Faber released another provocative newsletter this month that has a little grist for investor of all stripes. Boom. His short-term outlook is bullish because he believes money-printing will underpin the market even…

In the latest inexplicable move to extricate the U.S. banking system from crisis, the FDIC is reportedly close to asking the very banks it regulates for a loan to top up its balances. The plan is “strongly supported by bankers and their…

I have been very interested in the concept of legal tender of late because of the revelation this summer that the State of California was issuing I.O.U.’s to honour its debts instead of paying in U.S. Dollars, which are legal tender and…

U.S. mortgage delinquencies set record | Reuters "High U.S. unemployment keeps pushing up the rate of mortgage delinquencies, which could in turn drive personal bankruptcies and home foreclosures, monthly data from the Equifax…

Bill Gross is a bond man.  In fact, he is often called the “Bond King” because Pimco, the organization where he is founder and Co-Chief Investment Officer, is the largest bond fund in the world. In Bondland, what Gross says has a lot…