June 27, 2013
Michael Pettis on the China Liquidity Crunch; China Bulls Beware
See more here: Michael Pettis on the China Liquidity Crunch; China Bulls Beware
Hard hitting global and local news
Hard hitting global and local news
See more here: Michael Pettis on the China Liquidity Crunch; China Bulls Beware
With the Fed forcing interest rates low, commercial and industrial lending has picked up. That may sound like a good thing, but is it? I suggest it’s not.
More here: German Finance Minister Throws Cold Water on Single Bank Resolution Agency; For How Long?
Read More: Read Between the Lines: IMF Admits Spain is Bankrupt; Get Your Money Out While You Can
See the original article here: ECB Ponders Buying Toxic Debt of the Periphery; Don’t Worry, It Will Be "Fiscally Neutral"…
At an economic conference at the Philadelphia Fed, academics gathered to discuss fixing the banking system, including ending fractional reserve lending. The video is quite entertaining to say the least. Professor Jeffrey Sachs of Columbia University really lays into the banking system a few minutes into the recording
Velocity is at a six decade low No signs suggest credit creation is turning more productive Debt Constrains Growth Commodities are down 20% in the last two years By Lacy’s definition, the Fed is "not printing". By mine, the Fed is. Bernanke says one thing on one occasion and humorously denies it the next.
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Inquiring minds are wondering about the terms of the bailouts imposed upon citizens of Cyprus. I am one of them. In Cyprus Details: Blackmail, Bulldozer Threats, Bank Holiday to Tuesday; Reflections on Arrogance and Idiocy , I made the claim that Cyprus depositors need not be liable for any of this
Originally posted here: 20,000 Layoffs in Spanish Banks, 40% Pay Cuts, Pension Contributions Halted; Spanish Bank Unions Announce Strike; Protests…