Monthly Archives: October 2008

Re: Banks cutting foreign currency loans in Eastern Europe

[Skip to the end] (email exchange) Thanks! >    >   On Fri, Oct 31, 2008 at 7:25 AM, Bob wrote: >    `Panic’ Strikes East Europe Borrowers as Banks Cut Franc Loans By Ben Holland, Laura Cochrane and Balazs Penz Oct. 31 (Bloomberg)- … Continue reading

Posted in ECB | Tagged , |

2008-10-31 USER

[Skip to the end] Personal Income MoM (Released 9:30 EST) Personal Income YoY (Released 9:30 EST) Personal Income ALLX (Released 9:30 EST) Personal Consumption MoM (Released 9:30 EST) Personal Consumption YoY (Released 9:30 EST) PCE Deflator YoY (Released 9:30 EST) … Continue reading

Posted in Daily | Tagged , , , , , |

Fed macro policy

[Skip to the end] (email exchange) >    >   On Wed, Oct 29, 2008 at 11:45 PM, Morris wrote: >    >   This is the 64,000 dollar question…will unlimited FED lending to ENTIRE >   world-with IMF help-created recovery? Push on string? Hyper inflation? >   Question of … Continue reading

Posted in Email, Fed | Tagged |

More on latest Fed swap lines

[Skip to the end] The Fed is able to unilaterally lend (functionally unsecured) $30 million each to Mexico and Brazil?!?! There are far more sensible ways to restore prosperity. Last figures I saw indicate $522 billion in these loans that … Continue reading

Posted in Fed | Tagged , |

More USD swap lines

[Skip to the end] The problem is the Fed doesn’t see the risks involved in this program. They are only seeing ‘success’ as USD interest rates fall for lesser credits around the world. The question is why they would want … Continue reading

Posted in ECB, Fed | Tagged |

2008-10-30 USER

[Skip to the end] GDP QoQ Annualized (Released 8:30 EST) GDP YoY Annualized Real (Released 8:30 EST) GDP YoY Annualized Nominal (Released 8:30 EST) GDP Price Index (Released 8:30 EST) GDP ALLX (Released 8:30 EST) Core PCE QoQ (Released 8:30 … Continue reading

Posted in Daily | Tagged , |

Hungary to meet euro terms earlier

[Skip to the end] Note the contractionary terms highlighted below: Hungary Pays With Growth Prospects for IMF-Led Bailout Package By Zoltan Simon Oct. 29 (Bloomberg) — Hungary will meet euro-adoption term faster than previously planned after securing a 20 billion-euro … Continue reading

Posted in Uncategorized | Tagged , |

Austria abandons bond offering

[Skip to the end] Not looking at all promising. Austria abandons bond offering By David Oakley Austria, one of Europe’s stronger economies, cancelled a bond auction yesterday in the latest sign that European governments are facing increasing problems raising debt … Continue reading

Posted in Uncategorized | Tagged , |

Updates on Fed swap lines

[Skip to the end] Still don’t have totals for Fed USD swap lines extended to Foreign CBs. Some info here from last week: ECB Lending, Liabilities Surge to Records Amid Crisis (Update 1) By Simon Kennedy Oct. 21 (Bloomberg) — … Continue reading

Posted in Fed | Tagged |

Zero rate!

[Skip to the end] Yes, but, of course, for the wrong reasons! They all still act and forecast as if lower rates are expansionary. This still has no support in theory or practice. Outstanding government debt means the private (non-government) … Continue reading

Posted in Fed, Interest Rates | Tagged |