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Tag Archives: Italy
Is Spain’s Check in the Mail?
It’s a big mystery where Spain will get the money for its so-called bailout, given how urgently its banks need a life supporting transfusion. The European Financial Stability Facility or the European Stability Mechanism are mooted, but no-one yet knows which Spain will have to rely on. My suspicion is that the check is “in the mail.”
Posted in Economy, Politics, Uncategorized Also tagged EFSF, ESM, Germany, Greece, Spain Leave a comment
The Game is Up for the Commodity Super-Cycle as the Yo-Yo Years Begin
If a blizzard of awful Chinese economic data isn’t enough to convince you that China is heading into a deflationary slump and the commodity “super-cycle” is coming to an end, then the deepening crisis in the euro-zone should be. That’s because not only will a massive reduction in foreign lending by European banks hurt investment in emerging markets, but supplier economies will be hit disproportionately, as they were post-Lehman.
Posted in Commodities, Companies, Economy, Uncategorized Also tagged Australia, Austria, BHP Billiton, Brazil, Canada, China, ECRI, Europe, France, Germany, Japan, Korea, Lehman Brothers, Morgan Stanley, Taiwan, US, Yo-Yo Years 2 Comments
Germany’s Best Option is to Leave the Euro, Says JPMorgan
As the cost of a euro-zone break-up continues to rise exponentially, JPMorgan has concluded that Germany’s best option is to leave the euro. With German taxpayers outraged by the dangerous rise in credit risk resulting from a plethora of backdoor bail-out schemes, carrying on regardless now looks politically suicidal for Chancellor Merkel in the wake her party’s worst state election result in Nordrhein Westfallen since the second world war.
Posted in Bond markets, Economy, Politics, Uncategorized Also tagged banking crisis, Bundesbank, Germany, Greece, JPMorgan, Spain, Target2 Leave a comment
Solar Power Has Been Totally Eclipsed by Gas
Generous solar subsidies were never going to survive in an age of austerity and cheap natural gas. Nowhere is this more apparent than in Germany. Solar energy was supposed to herald a new age of clean energy, and provide thousands of green jobs, but not a single solar manufacturer is expected to survive there. With governments elsewhere, like Italy, also ending their tax payer funded bonanzas, the industry is facing total collapse, globally.
Posted in Commodities, Companies, Global Warming Scare, Uncategorized Also tagged First Solar, Germany, solar energy, US 1 Comment
Eurozone Governments May Need To Bail Out Municipalities
A lot has already been written about the risk to municipal bond holders in the U.S., as a growing number of states face severe fiscal problems. But local government debt is an even bigger threat in Europe - where it could force governments to assume the debt, putting further pressure on sovereign bond spreads.
Posted in Bond markets, Currency Markets, Economy, Uncategorized Also tagged bonds, EU, Euro, Germany, Greece, municipal debt, Spain, US Leave a comment
Update: Call for A Eurozone Break-up
A rare column arguing that the peripheral countries of the monetary bloc should simply leave the eurozone by decree, has been published in the Institutional Investor. Vincent J. Truglia, Managing Director of Global Economic Research at Granite Springs Asset Management, writes that the flawed structure of the eurozone - which was built for political rather than economic reasons - leaves only two questions: 1) How do you handle the shrinking or dismantling of the Eurozone? and 2) What is the timing of such changes? As the tensions tearing the euro apart will only grow, it's likely that we'll see a lot more articles like this one in the future.
Posted in Bond markets, Currency Markets, Economy, Politics Also tagged EU, Euro, eurozone Leave a comment
When Green Doesn’t Mean Green: Obama is Backtracking on Clean Energy
Environmentalists seized upon President Obama’s stimulus plan as a means to turn America into a low-carbon economy by pouring massive amounts of money into clean energy and green transportation. But in these tough economic times, taxpayers are not prepared to keep footing the subsidy bill. Belatedly, there is now recognition at the highest levels of government that a green industrial revolution is no longer realistic, economically or politically.
Posted in Companies, Economy, Global Warming Scare Also tagged American Electric Power, clean energy, CO2, Denmark, electric cars, EPA, EU, Germany, global warming, Obama, Solyndra, Spain, Supreme Court, US, Wall St Leave a comment
Spaniards and Italians Will Never Accept Greece’s Fate