double dip

The European sovereign debt crisis is rapidly approaching what could be a significant tipping point as it threatens to spread to the heart of Europe. In recent days Italian 10-year bond yields have soared to 7.22% and today Spain was forced…

The economic data in the US has been somewhat better of late but the ECRI’s Lakshman Achuthan argues that this is meaningless; you can’t repeal the business cycle. His view is that the indicators pointing to an end of cycle slowing into…

Eric Chaney, former French Treasury official and former Chief European Economist at Morgan Stanley is the present Chief Economist at AXA. He tells Bloomberg television’s Maryam Nemazee that the banking crisis in Europe is also a credit…

The answer is it depends who you ask. The New York Times put the question to five of us and our answers varied considerably. If there was any overlap in answers I would say it was our general agreement that the euro zone periphery will…

Bottom line: I think we are in the technical recovery phase of a double dip recession that is a once in a generation period of balance sheet repair. To me, it’s a depression. Irrespective of what you call this thing we are living through,…

At some point soon, maybe tomorrow, I will be writing an update to two posts: The Fake Recovery and The recession is over but the depression has just begun. The gist of those two posts is still operative and also very relevant, namely that…

This does not augur well for the euro zone. In the past few months, I have become negative on the euro zone’s chances of survival. I no longer believe the political imperatives for the euro zone will be enough to overcome the politics of…

This extra $4.5 trillion of household mortgage debt is a terrible burden on the economy since consumers make up over 70% of our economy. This is why consumer spending has been so tepid over the past few years. U.S. consumers spent well…

David Rosenberg was on Bloomberg and sees operation twist. But he also says he doesn't see how the Fed could prevent a US recession. His view is that the recession is already baked in. He goes further and says that Ben Bernanke is ‘always…