Japan storms back on weak yen; Asia trembles Telegraph A E-P http://t.co/M8aF6iddOr must-read http://t.co/p1YpNDlfJa fujioka & mayger here
17 minutes ago
Roubini Topic Archive: North America
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On Taking Stock with Pimm Fox Looking Under the Hood of J.P. Morgan in its Week of Embarrassment
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Consumer Credit Growing at Highest Rate in Past Decade: Unhealthy and Unsustainable?
Alright, got your attention. But the headline above is not offered merely by way of titillation, as a former partner of mine would say—it has the added advantage of being true. As many of you who frequent this space already know, I have been tracking the rates of change in the 3 month moving averages of U.S. [...]
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Talking to Reuters About U.S. Existing Home Sales and the Non-Recovery in the Housing Market
Reuters Insider — Click for Video
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On Printing Euros and the Real German Fear (hint, it’s not 1923)
I am convinced that each time the € comes under pressure the Germans start screaming “NEIN, PRINT NICHT!” They are at it again today. As far as the German government is concerned, the European Central Bank is not, like other central banks, ever to be considered a lender of last resort. And in the absence [...]
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The Next Crisis in Residential Mortgages – New Data Emerges
Back in the fall of last year, we commented to many that the so-called “foreclosure-gate,” or “document-gate” (remember, the Schwarzeneggerian term “robo-signers”) was going to prove to be a double edged sword for the large banks. On the one hand, lying to judges and facing the possible voiding of mortgage collateral documents and the ability [...]
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The Flight of the Doves: Money, Spending, Employment, Inflation, Disinflation and the Need to Compete in a Changed World
U.S. government interventions in the economy, initially aimed at arresting financial free-fall, and swiftly followed by additional measures targeted at spurring an economic recovery, have been quite successful with regard to the former goal. But such policies have been notably unsuccessful at restarting activity that can be described as anything more than tenuous and – [...]
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Poetic Injustice
To put current trends, the markets and our marcoeconomic orientation, into perspective, I offer the following short rhyme (yes, I know the haiku portion of below doesn’t rhyme): On Bonds: Ben and Bill fought a battle up hill, To fetch a drop of reflation. Ben broke down ‘fore another round, And its Gross who’ll be [...]
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Welcome to Dan Alpert’s Two Cents on EconoMonitor.com
Welcome to Dan Alpert’s Two Cents on EconoMonitor.com. This blog will give you access to material I publish at Westwood Capital, LLC – the New York-based investment bank I co-founded in 1995 – as well as periodic musings that will be posted only here (generally derived from my ongoing conversations with economists, policy experts, investors [...]
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This Is Your Debt…This Is Your Income Distribution on Debt: Not Your Grandfather’s Economy
Let’s keep this relatively simple. Apropos of the Republican/Democratic tussle that finally went to the mat yesterday with the President’s speech at George Washington University: We offer two charts to illustrate where we are, and why “where we are” is not sustainable. The graphs below speak for themselves – but we’ve nevertheless thrown in a [...]
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How Mad Is the Mad Hatter?
QE2 has, in practice, been an “Alice in Wonderland” policy – disorienting the markets to the point that a declared “buyer at any price” (the Fed) is able to buy more cheaply because of fears that the buyer’s debt monetization policy will result in global inflation. In the commodities and energy complexes and other liquid [...]
