Debt | timiacono.com

The Emporer is Indeed Naked

From Alberto Gallo, head of credit research at RBS, via this item at the Fiscal Times comes this handy guide to post-Great Recession monetary policy and its various effects.

How long will it take for this to become the mainstream view?

After the events of the last few days or so, perhaps sooner rather than later.

Panic on the Street

It looks like they’ll have plenty to talk about this week beyond the official topic of  Inflation Dynamics and Monetary Policy at the Federal Reserve’s annual gathering of the brain trust in Jackson Hole, WY, what with the sky being full of smoke from physical fires burning to the West and financial markets around the world figuratively going up in smoke.

What’s interesting about recent developments (if not surprising) is that China’s disappointing economy is being blamed for the market turmoil, prime evidence being the graphic below in this Wall Street Journal story today:

What gets short shrift from most media outlets (this Forbes piece by Steve Keen being the exception to the rule) is that we may be looking square in the face of yet another ugly unwind of yet another reckless expansion of credit and debt. Oh well…

Almost Total Capitulation

It should be an interesting couple of days in Athens as the Greek people come to understand that the deal Prime Minister Alexis Tsipras brought back from Brussels is worse than the one they rejected ten days ago, a key element being that lawmakers approve it by tomorrow.

The pundits seem to be almost universally pessimistic:

Tagged with:  

My guess is that the use of the “a-Greek-ment” contraction by European Council president Donald Tusk is not a good sign for what comes next in today’s Greek debt deal, a deal that is the same or worse than the one the Greek people voted against a week ago.

Markets are rallying on the news – China stocks, U.S. stocks – it’s all good…

Tagged with:  

Grisis, Granks Grosed, Grexit Grossible

Just think … someday we’ll be able to have a little chuckle as we look back at the long-running Greek financial crisis and marvel at what policy makers were able to accomplish within a dysfunctional system that should never have allowed Greece to join it, the nation only being able to do so thanks to some Goldman Sachs financial engineering.

From Martin Rowson at The Guardian.

Tagged with:  
Page 1 of 7212345102030...Last »
© 2010-2011 The Mess That Greenspan Made