The IMF is calling for a huge new round of bank bailouts.As the Telegraph noted yesterday: Lenders across Europe and the US are facing a $4 trillion refinancing hurdle in the coming 24 months and many still need to recapitalise, the Washington-ba…
Posts Tagged ‘Edward Harrison’
Why Are Home Sales Plummeting?
August 27th, 2010 |
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Why are home sales plummeting?On the surface, it is because the government’s tax-credit for first-time home buyers lapsed in April. It takes a couple of months lag-time between buyer purchase decisions and the actual close of escrow, and so the expir…
Arguments for Deflation: Unemployment, Debt and Deleveraging, the Pension Crisis, Collapse of the Shadow Banking System, and Interest on Reserves
September 22nd, 2009 |
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As Absolute Return Partners wrote in its July newsletter: The most important investment decision you will have to make this year and possibly for years to come is whether to structure your portfolio for deflation or inflation. So which is it, inflation…
If Credit is Not Created Out of Excess Reserves, What Does That Mean?
September 21st, 2009 |
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We’ve all been taught that banks first build up deposits, and then extend credit and loan out their excess reserves.But critics of the current banking system claim that this is not true, and that the order is actually reversed.Sounds crazy, right?Certa…
Why Obama Isn’t Breaking Up the Insolvent Banks
September 14th, 2009 |
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Top economists and financial experts believe that the economy cannot recover unless the big, insolvent banks are broken up in an orderly fashion.There is no logical reason not to break them up.So why isn’t the Obama administration doing so?For all of t…
4 Signs that China is Moving Out of the Dollar
September 8th, 2009 |
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There are 3 recent signs that China is moving out of the dollar.First, in June, China was a net seller of U.S. Treasury bonds (and shorter term notes) for the first time ever. As Mike Larson writes:A few days ago, the U.S. Treasury Department revealed…