Jul 23 2012

The hindrance of global debt – Spain accelerating to major bailouts and bond markets react. Eurozone stock markets in major decline.

It is always a sign of desperation to ban short selling.  Trying to put an artificial bottom usually backfires and we are seeing this hit in Spain.  The situation is unsustainable and has taken the headlines away from Greece.  Spain is a much bigger economy and they are deep in a recession with headline unemployment […]

Jul 5 2012

The dynamic central banking duo – ECB balance sheet up over €3.1 trillion mimicking Fed balance that is close to $3 trillion. Shuffling toxic assets into darkness.

You might have the vague memory that the European Central Bank reacted somewhat negatively to the Federal Reserve’s massive balance sheet expansion a few years ago.  The ECB was not following in the same path as that of the Fed.  Well fast forward to the current Euro crisis and the ECB now has a balance […]

Jun 28 2012

The contagion of the European Union and banking debt – 20 European Banks have liabilities above 50 percent of their home country GDP. Why an EU FDIC is highly unlikely in the short-term.

The crisis in Europe is boiling over yet again.  The central connecting factor of all of this is too much debt relative to production.  Debt in itself is not a bad thing.  If you borrow modestly for a home and have sufficient income to cover your mortgage payment then this might actually be beneficial.  When […]

Jun 26 2012

The burden of unsupportable debt. US debt-to-GDP growing at a pace rivaling certain European nations – The dramatic problems of peak debt in 2012.

What makes this global financial crisis unique is that it is based on unsustainable levels of debt.  In historical cases you would have sovereign nations defaulting on their debts but these were more isolated and clustered, not global issues.  Today virtually every large crisis that is hitting is occurring because of peak debt situations.  No […]

Jun 15 2012

The global addiction of central banking stimulus – Contagion spreads to Spain as 10-year edges to 7 percent. Life in a perpetual quantitative easing world.

Financial markets around the world are now desperately dependent on central bank stimulus.  The US recovery is largely dependent on the Federal Reserve funneling loans into the system via the quantitative easing process and other archaic forms of money development.  It is interesting how the Greek stock market rallied this week merely on the notion […]

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