crisis

I am finally back after taking most of August off and I should be up to near a full posting schedule in short order. While I was away, the site got a re-design and a speed upgrade. If you have visited since yesterday, you should notice that…

By Win Thin, Senior Currency Strategist, BBH In light of recent attention on Eastern Europe, here are some thoughts on Romania. The government has been unable to sell local debt at its self-imposed cap of 7% because investors have been…

By Win Thin, Senior Currency Strategist, BBH Harvard Professor (and former IMF official) Kenneth Rogoff expects some Eastern European countries to face sovereign crises over next 2-3 years.  In a weekend interview, Rogoff predicted…

From Win Thin, Senior Currency Strategist at BBH. Bloomberg headline reads “Europe’s Budget Cuts Pose Risk to Debt Ratings, Moody’s Says.”  Really?The article goes on to quote the agency as saying budget cuts in response to the…

Below is a very good and nearly unfiltered 30-minute session with David Rosenberg of Gluskin Sheff. He speaks with the Wall Street Journal's Kelly Evans in the weekly "Big Interview" feature, a format I really like.  I have…

A personal note of reflection from Mike Farrell, CEO of Annaly Capital Management. It had been a long time between vacations. Credit crunch, lending implosion, sovereign credits going into default, currency devaluations, government…

By Marshall Auerback and Edward Harrison. Marshall's view Ed has asked me to deal specifically with the issue of Ricardian equivalence, the theorem used by anti-government proponents to argue that fiscal deficits are counterproductive and…

Things I am Going to Think About On Vacation Like others, I try to clean off my desk before my summer vacation.  This year it is particularly difficult because there seems to be several unresolved issues.  I will mull them over…

Pretty hard to argue now the Spanish bank borrowing from the ECB is simply in line with the country’s share of total GDP I would have thought. Also, after having trended upwards ever so slightly for a couple of months, Spain’s industrial…

The following is the press release released by the EU on the subject of the European Bank Stress Tests. There will be 91 institutions undergoing the tests. I have provided a list of the specific institutions below. The greatest number of…