China is Sovereign in their Currency

In a recent article, Michael Pettis is missing the point of arguments that claim the Chinese money system is different. The point is that the Chinese government effectively owns and operates the Chinese money system

Stratfor: Europe, Unemployment and Instability

By George Friedman, Founder and Chairman, Stratfor The global financial crisis of 2008 has slowly yielded to a global unemployment crisis. This unemployment crisis will, fairly quickly, give way to a political crisis. The crisis involves all three of the major pillars of the global system — Europe, China and the United States. The level of …

Euro Crisis: Are Germany and IMF Lighting a Fuse?

by Elliott Morss, Morss Global Finance Introduction In earlier articles, I have talked of the “weak sisters” (Greece, Italy, Portugal and Spain) together, arguing they will never be able to compete with Germany and other more “efficient” Eurozone countries. Of course, each weak sister is different. In this piece, I consider each separately and whether …

Dr. Draghi: Name Your Poison

by Marshall Auerback, New Economic Perspectives There appears to be an emerging consensus that the euro will survive, especially now that Mario Draghi has apparently grasped the nettle and persuaded his colleagues that the ECB (European Central Bank) is prepared to initiate unlimited purchases of national government bonds in order to underwrite their solvency.   …

Nothing has Changed for Greece

by Elliott Morss, Morss Global Finance Introduction Last fall, I said that Greece and the other “weak sisters” should leave the Eurozone. My argument was: the weak sisters (Greece, Italy, Portugal, and Spain) cannot compete with Germany; they need currencies that devalue against the German currency to stay competitive. Since then, nothing important has changed: …