January 19th, 2015
in Op Ed
by Michael Grogan, First Class Analytics
For the past couple of months, I have strenuously been arguing that the current monetary policy in Europe is misguided. While a low interest rate policy seeks to promote economic growth in the Eurozone, it has done anything but - with GDP in countries such as Canada, UK and US far outpacing that of Europe.
by David Stockman , Daily Reckoning
This morning's market is more erratic than Claire Danes off her lithium. Gold is soaring, the euro's plunging, US treasury yields are in free fall, junk bonds are faltering, copper is bouncing, oil has rolled over, the Russell 2000 momos are getting mauled, the swissie has shot the moon, the Dow is knee-jerking down, correlations are failing......and the robo traders are flat-out lost.
by William K. Black, New Economic Perspectives
If one wishes to know why Germany's financial elite embraces vicious economic assaults on their fellow Europeans of the periphery via the economic malpractice of austerity it is essential to consider not only that malpractice, but also the moral rot at the core of the German financial elite. This column updates my earlier discussion of Germany's internal financial troika, which makes Prime Minister Angela Merkel appear almost rational. My prior column skewered the New York Times' coverage of that troika. This update addresses the Wall Street Journal's woeful coverage of two members of the German troika.
by Dirk Ehnts, Econoblog101
The NY Times has recently written about the British retiring some pretty old debt. I had to add a half sentence to the text, I just had to (in bold):
After that financial crash in 1720, called the South Sea Bubble, the British government was forced to undertake a bailout that eventually left several million pounds of debt on its books. Almost three centuries later, Britons are still paying interest and those that own the bonds are receiving interest on a small part of that obligation.
Now, prompted by record low interest rates, the British government is planning to pay off some of the debts it racked up over hundreds of years, dating as far back as the South Sea Bubble.