POP
6 July
Tag: crisis
Why are bank stocks falling so rapidly?
Bank of America, the nation’s largest bank by assets, plunged 20 percent and Citigroup slid 16 percent, leading the KBW Bank Index (BKX) down 11 percent. It was the worst showing for the 24-company benchmark since April 20, 2009, when Bank of Amer…
9 AugustEvidence that Banks Create Credit Out of Thin Air
(1) William C. Dudley, President and Chief Executive Officer of the Federal Reserve Bank of New York, said in a speech last July: Based on how monetary policy has been conducted for several decades, banks have always had the ability to expand cred…
23 Maywhat we learned from the financial crisis
The economy is shaping up and looking a lot ‘better’ comparatively to 2008. It has been said to ‘be moving toward escape velocity..’ But, I asked myself, what have we ultimately learned from this slow down and reality adjustment? The answer is abs…
23 Aprilthe impending collapse of the united states
Niall Ferguson writes: One day, a seemingly random piece of bad news — perhaps a negative report by a rating agency — will make the headlines during an otherwise quiet news cycle. Suddenly, it will be not just a few policy wonks who worry about …
2 MarchAustria’s Economic Freedom
No major surprise: government spending and high taxes has Austria ranked 22nd in this year’s Index of Economic Freedom – right above Germany. In part due to recent unprecedented large stimulus plans, the world experienced for the second time in th…
25 FebruaryToday’s ‘wow’ Momment
“Globalisation allowed the US to suck up the savings of the rest of the world and consume more than it produced.” George Soros, FT.com January 23 2008. Seismograph. The line indicates the daily volatility of the Dow Jones index, between 1901 and 2…
26 DecemberZARA Needs Help
ZARA Sad but true. The NGO ZARA (Zivilcourage und Anti-Rassismus Arbeit), which is famous for its fight against racism in Austria, is also fighting for its survival. The org just celebrated its 10th anniversary last month. Unfortunately, the 1000 …
11 DecemberAndy Warhol would be happy
David Reilly at Bloomberg notes that the pricing of credit default swaps on both the US government debt and Campbell???s is the same… Here is the link. Hat tip goes to TheBrowser. via Marginal Revolution by Tyler Cowen on 8/31/09
12 September