debt

I happened upon an article about shops being closed in France that highlighted a larger issue about cultural attitudes in the U.S. and Europe regarding work, leisure and material wealth.  I would like to share some thoughts with you on…

Last night I wrote an article reminding you that downside risk remains in the global economy.  While I have been singing a more bullish tuneregarding the prospect of a technical recovery in 2009, I am concerned about a double dip as a…

Alan Blinder, David Leonhardt, and Alan Auerbach talk about deficits.  Leonhardt had a well-regarded piece in the New York Times on the issue linked below. There are two basic truths about the enormous deficits that the federal…

Dollar bears are getting their way in the currency markets right now.  While most eyes are peeled on Sterling (up 3 big figures since Friday) and the Euro, all currencies are rising against the Dollar (including the Commodity Dollar Complex…

Asset bubbles are strange animals. Ideally, you would like to punch the air out of them relatively early before they become a real danger but, in practice, it is not quite so simple. Ben Bernanke and Alan Greenspan have actually both argued…

Back on the 16th, I posted a link to a Wall Street Journal article by James Hagerty which detailed how the Federal Home Loan Banks were able to prevent asset writedowns because of guideline changes to mark-to-market accounting.  I…

It is not just the Chinese making noises about the reliability of the United States as a debtor.  Now, Japanese politicians are doing it too.  In fact, the Democratic Party of Japan (which is not in power) have said they would not buy U.S.…

The German car maker Daimler wants to put the Chrysler chapter behind it, so it will give up its remaining 19.9% stake and forgive all remaining loans. See BBC story.

As the possibility of bankruptcy draws nearer, General Motors is moving to sell non-core assets and to broker arrangements with bondholders and unions alike which will keep it out of bankruptcy. In a 9AM press conference today, new General…

This contribution comes from Marc Chandler of Brown Brothers Harriman, one of my favourite currency strategists. His latest missive highlights the huge amount of debt being issued by sovereigns. It is not just the United States.: Much of…