Europe : Zero-Growth
The european economy’s landscape looks sad... The Eurozone saw its GDP lose 0.2% in the first quarter, and the OECD revised to the downside its forecast for 2013 and sees a 0.6% recession ahead
Read articleThe european economy’s landscape looks sad... The Eurozone saw its GDP lose 0.2% in the first quarter, and the OECD revised to the downside its forecast for 2013 and sees a 0.6% recession ahead
Read articleNikkei’s 7% plunge, last Thursday, and the way it happened, gives us a glimpse into how the next crisis will play.
Read articleChina knows it has created a credit bubble. But its effects are subsiding and, contrary to the Western governments who keep printing and printing, China has put in place an emergency strategy that is the exact opposite of the actual bubble-creating policies.
Read articleAre we witnessing the emergence of bubbles everywhere, or isn’t the whole thing becoming a gigantic bubble? All financial assets are going up at the same time, whether it be stocks, sovereign debts, or corporate bonds!
Read articleAfter the LIBOR scandal, are we witnessing the ISDAfix scandal? This time it’s not about interbank lending rates, but rather about interest rates for swaps.
Read articleThe bank with the most exposure to derivatives is not JP Morgan, as we thought, but Deutschebank
Read articleBy wanting to respect each country’s whims and maintaining the fiction of « national » central banks despite the creation of a unique currency, the euro promoters have created an explosive internal systemic risk.
Read articleCyprus did serve as a general rehearsal for the experimentation of a plan that will be reproduced elsewhere. The European Commission is preparing a proposition to include deposits over 100,000 euros in bank bailouts
Read articleChristine Lagarde, head of the IMF, saluted the restructuration of Japan’s monetary policy, which constitutes a welcome support to world growth
Read articleIn Cyprus, confusion is growing, and there is talk of a 60% tax on bank accounts exceding 100,000 euros! Actually, no one knows, and we have to wait
Read articleSo Cyprus has been bailed out, for the time being, but we must ask the question : Isn’t the new plan worse than the first one? Given, of course, that both plans are nothing short of theft of private and company savings by incompetent political leaders, it’s like comparing pestilence with malaria.
Read articleRisks are increasing everywhere and the situation is becoming more and more confusing. We need to get back to the fundamentals : ideally we need to get out of paper currencies and into gold, get out of the banking system to avoid all confiscation, and get out of the Eurozone toward a country that re...
Read articleA great amount of money is being created by the central banks (FED, BCE, BoJ) but, for now, we’re not seeing a strong inflation
Read articleThe european banking system remains entirely dependant on the ECB for its daily operations, and this is not good news
Read articleOnly one thing can explain the backwardation in gold : loss of confidence. Potential buyers of futures reckon there is a significant risk that the contract might not be fulfilled
Read articleAway from the cameras, without invoking a « last chance summit », Ireland just benefited from a restructuration
Read articleMany large international banks, like Crédit Agricole, Commerzbank and UBS are announcing important losses for the last quarter of 2012
Read articleThe Securities and Exchange Commission (SEC) has forbidden Egan Jones to publish its rating notes on States for 18 months (SEC’s announcement), a stupefying decision
Read articleJapan just crossed another hurdle in its escape ahead by monetization of its debt in what can be called a show of strength by the new Prime Minister, Shinto Abe, against Japan’s central bank.
Read articleThere is very significant news that has barely made the headlines : Last week, the Fed has paid $89 Billion in benefits to the U.S. Treasury. It is 18% more than last year’s payment and it wipes out the $79 Billion 2010 record
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