Ambrose Evans-Pritchard Archive

US in a depression

[Skip to the end] America slides deeper into depression as Wall Street revels Agreed. Sad part is it can all be reversed with a few simple spread sheet entries. A full payroll tax holiday and per capita revenue distributions to the states to restore demand, output, and employment [top] ...Read More

Evans-Pritchard Telegraph article

[Skip to the end] There is no operational support for this scenario. Comments below: Global bear rally will deflate as Japan leads world in sovereign bond crisis By Ambrose Evans-Pritchard Jan. 5 (Telegraph) — Weak sovereigns will buckle. The shocker will be Japan, our Weimar-in-waiting. This is the year when Tokyo finds ...Read More

Germany – Credit Crunch II

[Skip to the end] Yes, interesting to see if the Eurozone national governments are able to run their deficits as high as projections indicate without themselves having liquidity issues, even with the indirect help from the ECB. Looks to me like all the support measures add to the deficits of the national ...Read More

German debts set to blow ‘like a grenade’-Pritchard

[Skip to the end] Completely agreed about the possibility of a bank blow up. And it’s also possible the government plan blows up the government. The eurozone is the region vulnerable to ratings downgrades- both banks and national governments. Not the UK and US governments where spending is not revenue constrained. The ...Read More

Britain looks to the land of the rising sun with envy

[Skip to the end] Starts off good and then goes bad. Britain looks to the land of the rising sun with envy by Ambrose Evans-Pritchard May 22 (Telegraph) — Perhaps most surprising is that Japan fell in 1998, though it was by then the world’s top creditor with more than $1.5 trillion ...Read More

ECB funding national government securities

[Skip to the end] ECB cuts to 2.5pc and mulls “printing money” By Ambrose Evans-Pritchard The Maastricht Treaty prohibits the ECB from injecting stimulus by purchasing the government debt of the eurozone’s fifteen states debt — a method known as “monetizing the deficit” or, more crudely, as “printing money.” But it can ...Read More

Re: France threatens to seize banks

[Skip to the end] Yesterday’s news, but this kind of response is indicative of fear of a very large problem in the immediate future. And forcing banks to lend to entities they don’t consider credit worthy only shifts private sector losses to the banks. >    >   On Tue, Nov 4, 2008 at 7:38 ...Read More

Telegraph: Eurozone risks

[Skip to the end] Highlights are in yellow. Problem is it needs a fiscal response, and this all has nothing to do with interest rates. Banking crash hits Europe as ECB loses traction by Ambrose Evans-Pritchard (Telegraph) Analysts say German finance minister Peer Steinbrueck may have spoken too soon when he crowed ...Read More

The Daily Telegraph: Bank borrowing from ECB

[Skip to the end] [written on Sunday] While not a problem in the US for the Fed to do this and more (in fact it should be standard operating procedure), the eurozone has self imposed treaty issues that make it very problematic. If there are defaults its the national governments that will ...Read More

Re: Mishkin signal?

[Skip to the end] (an email exchange) > >   On Tue, Jun 10, 2008 at 8:12 AM, anonymous wrote: > >   Fisher’s remark induces one to wonder if Ambrose Evans-Pritchard is >   correct in stating that Fed policy is now being concocted from Dallas. > >   The recent spate of criticism ...Read More