crisis

by Annaly Capital Management In recent weeks, the Plaza Accord has been receiving a lot of attention, particularly after the IMF’s annual meeting in Washington concluded without making any progress on currency issues. If you recall, the…

Topic of the Day: Global Volatility Morgan Stanley - No ‘Currency War'...Yet Bubble fears as emerging markets soar - FT.com Rajan: Beggaring the World Economy - Project Syndicate Why a tougher Stability and Growth Pact is a bad…

by Win Thin With all this talk about currency wars, several points need to be made.  The most important one that we have been stressing is that EM currencies are stronger now than they were a year ago, hardly the stuff of competitive…

(video embedded below)     See Stiglitz's written remarks here: Source: Joseph Stiglitz - The Federal Reserve’s Relevance Test - Project Syndicate

by Win Thin Here are some more thoughts on Fitch’s downgrade of Ireland to A+ from AA- with negative outlook kept in place.  Of course, we view the Fitch downgrade as completely justified, and look for further cuts ahead as our model…

Chrystia Freeland introduces Dr. Roubini, reminding him that he is still known as Dr. Doom. She quips he should wear the name with pride because he was "one of the very few economists who was actually right about the crisis." This…

by Claus Vistesen With course work coming up and with my internet connection just coming on-stream this weekend I hope that I can be forgiven for not posting in the past week. And now that I am I can only find the energy to move in with…

One of the worrying things about the handling of the current European crisis is how many of those responsible for taking the decisions seem to view the Eurozone in a way which is every bit as rigid, timeless and dogmatic as the thinking of…

by Comstock Partners The stock market rally is on shaky ground and severely overextended. It is being propelled by a combination of momentum-oriented trading strategies and dubious fundamental assumptions. The traders have no real…

TARP goes to the legal graveyard this Sunday. Looking back, Simon Johnson says some sort of injection into the American banking system was necessary. So, in a basic sense TARP or some Swedish equivalent would have been necessary to avoid…