As the world listens to Messrs. Paulson and Bernanke argue for support of their three-page $700 billion manifesto, I wish to focus your attention on a central aspect of the credit crisis – the scale and scope of the credit derivatives octopus. To illustrate, consider this: If scientists can “identify...
$1.6 Trillion in Losses and Counting Banks Start to Reduce Their Lending Take Freddie Mac. Please. The Ugly Muddle Through Once Again, the BLS Numbers Paint a False Picture Las Vegas, Maine, and a Wedding It seems that with each passing month the estimates for losses in the international banking system...
My interview with the Managing Director and Chief Economist for Deutsche Bank Securities includes the state of the global economy, prospects for stagflation in the US, the expanded role of the Fed, and the US consumer. The length of the interview is 13 minutes 21 seconds. Click here to play this audio...
In this issue: A Confidence Credit Crunch Credit Crisis How Much is That Dog in Your Net Capitalization? King Dollar Faces the Guillotine The Euro-Yen Cross The Consumer is Getting Tired New York, Philadelphia, Switzerland and Phoenix Just when it felt like it was safe to get back in the water, a second...