I got a disturbing email from Bianco Research which showed a chart of “Private Credit Market Debt” which they say shows “Total credit market creation not including Treasury Debt, Municipal Debt and Agency Debt”.
It is actually a horror that the level of private debt peaked last year at about $36 trillion, which is certainly a [...]

I was laid out on the couch, which I remember distinctly because my wife was yelling, “If you’re going lay down on the couch instead of doing something around the house to help me out, at least take your damned shoes off!” and I was using the remote to idly flip through the channels on [...]

Well, it might appear that my smug headline in the post below may not have been so appropriate after all. At least I find the news from the FT today that Eurozone members, headed by France and Germany, are considering to set up an internal IMF type fund very significant.
(from the FT)
Germany and France are [...]

Eric Fry here at The Daily Reckoning is “reporting from the Golden State with the tarnished finances”, which was a riddle that I instantly knew was, of course, California. But, for some reason, I never get asked a question when I know the answer. I usually get asked, instead, something like, “For 40% of your [...]

Douglas Holtz-Eakin, former CBO director, discussed the negative effects of the new fiscal policy in the U.S (link).

“In my view … it is impossible to understand this crisis without reference to the global imbalances in trade and capital flows that began in the latter half of the 1990s.” Bernanke (2009)
Executive Summary

Compared with the average quarterly value of GDP in 2007-08, the first two quarters of 2009 are down in nominal terms to [...]

In a recent New York Times Op-Ed entitled “Till Debt Does Its Part,” Nobel Prize-winning economist Paul Krugman rebuffs those few reactionary souls who argue that all this debt we are incurring is a bad thing. He assures us,
…don’t fret about this year’s deficit; we actually need to run up federal debt right now [...]

Continuing the theme of my recent posts. This from Troy Schwensen at The Global Speculator:
Australia’s Prime Minister, Kevin Rudd, has recently delivered an address to the nation providing details on his second stimulus package. Within this briefing, there was a number of sniping remarks about the so called “failure of free markets”. This apparent failure [...]