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G20 and currencies: off the record, we’re not friends
The G20 are meeting today and the biggest topic on the agenda is currencies. Since the G7 issued a statement saying they would refrain from using currency targets to revive economic growth on Tuesday,...
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The sequester is back, as is Europe’s political madness
In the US, the chaos that is the national budget and the cuts thereof is picking up in newsworthiness again. Yesterday, President Obama tried to guilt Republicans into agreeing with his proposal, which...
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Budget cuts and peripheral misery
Today at midnight (Saturday morning in the old world), the US is facing the much discussed spending cuts, decreasing government spending by €85bn until the end of the federal budget year in September....
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China curbs growth targets in light of social issues
There won’t be an update tomorrow, Wednesday March 6th. News from China, where outgoing Prime Minister Wen Jiabao presented the country’s economic targets for 2013, including an unchanged GDP target of...
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Laiki depositors to lose up to 80%, Poland turns against euro
Yesterday…The Spanish central bank forecasts its economy to contract by 1.5% in 2013, while unemployment is seen to rise to close to 30%: The economy will be marked by weak domestic demand, a fragile...
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China slows, Greece set to grow again
Over the weekend… Venezuela has elected a new President, after re-elected Hugo Chavez died in early March after long illness. Nicolas Maduro is the man Chavez singled out as a worthy candidate himself,...
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All according to plan – US set to grow 3%; China’s slowdown on purpose
Over the weekend… the UK lost its Fitch-assigned AAA rating on the back of the weak economy and poor outlook. Moody’s downgraded the country in February, but also assigned a negative outlook, while...
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Spain turns to stimuli, as Merkel points to two-tier Europe
Yesterday… Spain’s unemployment rate rose to a new high of 27.2%, possibly marking the final point that austerity measures haven’t work in this case or simply don’t work at all (hello, Keynesians)....
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US budget deficit decreases; ECB rate cut likely
Yesterday… The IMF warned of the Asian bubble, saying too much FDI was leading to explosive credit growth and property prices, and it was to get even worse if Japan’s monetary policy was to have the...
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Eurozone recession here to stay, UK gets ready for exit
Yesterday… David Cameron and his comrades of the Conservative Party published a policy draft for a referendum for a possible EU-exit of the UK. The draft says the referendum has to be completed by...
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Jeffrey Osborne has left the building
This week… Was mostly about Ben Bernanke and the path of macro conditions he chose for the coming month. So QE could be gone for good sometime next year, given supporting data, that we are now waiting...
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