Daily Archive: Friday, January 28, 2011

(APW) EU Considers Loans to Greece to Buy Back Bonds

They EU may as well buy the Greek bonds themselves and save the legal fees. And probably get a higher rate, and, of course, the option to forgive if it ever suits them. Amazing anything like this ‘option’ even gets this far as a trial balloon. But it does. EU Considers Loans ...Read More

Japan Consumption Falls In Dec As Deflation Persists

And now the Prime Minister has vowed to tighten fiscal policy. The only open avenue (the way they see the world) is buying fx. And note that they’ve already started buying some dollars and have been welcomed by the euro zone to buy their national govt debt. Consumption Falls In Dec As ...Read More

Japan Vows to Push Fiscal Reform after S&P Downgrade

The one nation that was at least sort of moving towards at least some proactive fiscal expansion may no longer be doing so. Following through with this would make the yen fundamentally stronger (harder to get). I singled out David Beers of S and P for criticism only because he does understand ...Read More

Senator Pat Toomey- Pay China First Act

Gets stupider by the day… “Sen. Pat Toomey (R-Pa.) introduced what Democrats are calling the “Pay China First Act,” which would require the federal government to pay all its debt obligations first and everything else — vets, schools, you name it — with what’s left.” Okay, so we tell Ben Bernanke to ...Read More