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German Constitutional Court Approves Greek Bailouts
…or does it? From The Wall Street Journal: KARLSRUHE, Germany (Dow Jones)–Germany’s Federal Constitutional Court Wednesday ruled that the euro-zone’s 2010 bailout for Greece and subsequent aid granted...
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On Solyndra
A few days ago Solyndra, a Bay Area maker of industrial solar panels, announced plans to file for bankruptcy. From the L.A. Times: It wasn’t just a blow for the company’s 1,100 laid-off employees or...
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Christine Lagarde: “There is Still too much Debt in the System”.
From the IMF: There is still too much debt in the system. Uncertainty hovers over sovereigns across the advanced economies, banks in Europe, and households in the United States. Weak growth and weak...
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Another Sign of Coming Blowup?
Last week I asked: Look at the following graph from the St. Louis Fed. It is the amount of deposits at the US Fed from foreign official and international accounts, at rates that are next to nothing. It...
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Junkiefication
What does the market slump of the past couple of days show? When the market prices in favourable government intervention (endless free cash), and the government doesn’t meet expectations the...
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Artificially Low Interest Rates in Europe
My chart of the day, illustrating a pretty brutal reversion to the mean: Of course, all interest rates in a fiat system are artificial. Interest rates are the price of money, and if a central bank is...
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