Karim writes: U.S. data on the soft side (October) Most notable is core durable goods orders (capex has been gwth leader of late) falling 1.8% and 3mth annual rate slowing to 4% from 7.3% Core shipments (more important for current quarter growth) down 1.1% Personal spending up 0.1%. Personal income up 0.4% (mostly via wages) […]
Category Archives: Email
Comment From Reader
Neil says: In 1847 Ignaz Semmelweis showed that the washing of hands in a chlorinated lime solution reduced the incidences of death in surgery. It conflicted with the established orthodoxy at the time and he was ridiculed for it. It took over 25 years before Surgeons started to wash their hands before Surgery. In the […]
Marshall Auerback’s Euro Update Video
Marshal Aueback says: My latest attempt to explain it all. Is the ECB Europe’s Last Hope?
For BTPS & SPGBs all inter dealer screens have gone blank
As previously discussed, it’s hard to see how anyone with fiduciary responsibility can buy Italian debt or any other member nation debt after EU officials announced the plan for 50% haircuts on Greek bonds held by the private sector. Yes, all governments have the authority, one way or another, to confiscate an investors funds. But […]
From a friend in the euro zone public financial sector
“The problem is that in Europe you have 2% of people, acting in bad faith, that pursue the agenda that Alain Parguez has denounced several times and who are also unfortunately in top decision making positions. Then there is the 0.001% of people who understand the problems and try to solve them, but in general […]
‘New Captains of Industry’ Hosts Economic Roundtable with Mosler, Wray, and Norman
From George Jarkesy: http://www.prnewswire.com/news-releases/new-captains-of-industry-hosts-economic-roundtable-focused-on-us-budget-and-trade-deficits-112815269.html
AMI Perpetrated Innocent Fraud
For all practical purposes, fractional reserve banking ended in 1934 when we went off the gold standard. Today’s banking is not reserve constrained. At best, this is a case of innocent fraud. Telling that Kucinich was convinced to go along with this. Nor are there any critics in the media I’ve seen who know any […]
Jim Grant-Fed Would Be Shut Down If It Were Audited
[Skip to the end] On Wed, Jun 10, 2009 at 8:48 PM, Scott Fullwiler wrote: (email exchange) > On Wed, Jun 10, 2009 at 8:48 PM, Scott Fullwiler wrote: > > Thanks, Ian. > > Warren . . . Ian was one of my students at your presentation last week . . . some people are > learning how […]
Roubini on Chinese Reserve Currency
[Skip to the end] (email exchange) > On Fri, May 15, 2009 at 9:22 AM, wrote: > Hi Warren. Roubini (the contemporary Dr. Doom) is suggesting this morning that > the Chinese currency should be the new global reserve currency. > > Don’t you need a country that runs an external payments deficit (or at least not a > surplus)? […]
German Bad Bank Plan
[Skip to the end] (email exchange) The ‘short cut’ would be to allow banks to mark to model aggressively and then write off the losses over 20 years so the losses don’t alter capital ratios. And while it does drive down their ‘economic net worth’ and reveals ‘actual shareholder equity’ immediately, as long as they […]