Browsing Tag

ECB

Why U.S. of AA Matters

A U.S. downgrade is, in itself, almost meaningless. A nation that issues debt denominated solely in its own currency and which is in full control of its monetary policy, cannot default unwillingly. Nations default because they run out of…

This is a classic liquidity crisis

This is a classic liquidity crisis. Bond markets in Europe are selling off. Commercial paper markets in the US are seizing up. Retail investors in Asia are already running for safety in overnight trading. What we are experiencing is a…

Crash!

In case you did not notice it, the much discussed "range" on the SP500 broke in spectacular fashion today as the short rollers bypassed the 1250 mark in the same style as the Germany panzer passed the Maginot line back in the early stages…

Euroscepticism

It would easy to say something like, “The euro is an abomination and the peripherals should simply leave or be tossed out of the euro zone.” But, we are here now. The political imperatives for closer European ties that created the single…

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