A lot of debate currently going on reducing the deficit and it is being shown as a problem that is orthogonal to economic growth, which is not true. Why can’t those thinking this way get the point that economic and employment growth can reduce the deficits and not the other way which is reducing deficits […]
First, futures update: Dow futures are down 289 and S&P futures are down about 32. I would say, it is not as bad as many feared. We just have to wait till Monday and see how things will shape up. [I would venture to guess, the markets will be down big at the open and […]
On April 18th, I posted this note about Goldman’s take on S&P’s outlook change on US debt. There is a saying in Telugu, “dongalu dongalu oollu panchukunntlu” (Just like thieves divided the villages among themselves to rob). True to this age old maxim, Wall Street banks and the ratings agencies robbed us of our retirement […]
On Friday, Aug 5 2011 at 8:01 PM when all financial markets (ex ForEx) in all western countries have closed for trading, Standard and Poor’s downgraded US Debt. Via Bloomberg: S&P lowered the U.S. one level to AA+ while keeping the outlook at “negative” as it becomes less confident Congress will end Bush-era tax cuts […]
Sorry to spoil your morning. CNBC’s Larry Kudlow tweeted this last night. Bank runs in Italy. This cannot be good.
As I mentioned several times, India with only 128% of debt burden (sovereign + consumer debt) and huge population, is the right place to be for economic growth, closely followed by China.
Yes, it is not a typo that you see ‘Driven Driven’ in the title. What is the ailment of the current economy and the effect of it on millions of people all around the world? We can understand if the economy gets impacted if there are natural calamities like the Tsunami/earthquake in Japan […]
The American economy is 2/3rd consumer spending. In the 1990, cheap credit boosted consumer spending via revolving. In the 2000s, the meteoric rise in home prices led to consumers tapping their home equity to keep spending (referred to as ‘the Home ATM’). Now, both credit spigots have been stopped. Furthermore, the consumer is already in […]
“The president’s failure to demand a reckoning from the moneyed interests who brought the economy down has cursed his first term, and could prevent a second.” This is a good article and a must read. It reflects most of my thinking on Obama’s presidency. What haunts the Obama administration is what still haunts the country: […]
Says Barry: Ahhh, the Greeks! Long considered the cradle of Western civilization, Greece is the birthplace of democracy, the founders of Western philosophical thought. The Greeks invented the Olympic Games, literature, political science, and too numerous too enumerate scientific and mathematical principles. The first coin was minted there, as was the university education, and the […]
Once again, the bankster cartel wins. The Greek Parliament just voted for more austerity measures. Don’t get me wrong, austerity is a good thing. It should be done. But not at gunpoint and threats that are solely aimed at saving the way of life for the bankster cartel. The only thing this will do is […]
I began writing this piece In February 2011, during the revolution in Egypt. Everybody who is following the current turmoil in Greece or who had even peripherally followed the recent events in Egypt knows that these are nothing short of extraordinary days. Not just Egypt and Greece, there were more revolutions in 2011 (e.g. Tunisia, […]
This via Zero-Hedge With just days left until the crucial vote on passing the Greek mid-term austerity package, the assured destruction rhetoric used by the Greek status quo has hit fever pitch. Just to make sure the message is not lost on the broader population that Europe’s banks will not admit defeat in a vote […]
A little over a year ago the pronouncement that Greek was rescued from the brink was a big fat Greek lie. Anybody who paid a slight bit of attention to the truth behind the headlines would have known this. In the 2010 deal mainly Germany and other European nations came to the rescue of Greece […]
Mohan garu calls Yaron Brook the leader of a cult. Watch him debate on the role of government. You may disagree with Yaron, but can’t deny the rational aspect of the argument. Between Mohan garu and I, one of us don’t have a sense of proportionality- you decide which one it is. Here goes the […]
