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Tag Archives: US
By Martin Fluck | Published: December 19, 2012
The good news is that emerging economies in Asia, Latin America, and Africa are set to boom in the coming decades. The bad news though – if you’re a deluded environmental activist - is that their growing energy needs cannot possibly be met by renewable energy, as their large and growing populations invest in infrastructure and housing. The world’s “insatiable demand” for energy will instead have to be met by an increased use of coal, the International Energy Agency admits. Coal’s share of the global energy mix will continue rising, with coal closing in on oil as world’s top energy source by 2017.
By Mart | Published: June 12, 2012
The EU’s emissions trading scheme could trigger a full scale global aviation trade war within weeks. A total of 30 countries which signed the Moscow Joint Declaration in February – including Russia, India, and the US - have threatened to retaliate. But China has upped the stakes by warning that it is prepared to impound European aircraft, if the EU punishes Chinese airlines for non-compliance, according to Reuters.
By Martin Fluck | Published: May 16, 2012
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.
By Martin Fluck | Published: May 5, 2012
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.
By Martin Fluck | Published: April 29, 2012
The climate scare is collapsing as taxpayers and investors realize that shackling the economy with taxes, regulations, and unaffordable subsidies is economic suicide. The messianic doomsayers have overplayed their hand, and opened up their junk science to ridicule.
By Martin Fluck | Published: April 23, 2012
Campaigning for a break-up of the big banks has gone mainstream. If Obama is to win the election, he will have to stand up for the middle class, which is fed up with the unfairness of the present economic system. This means he will have to tackle the concentration of bank power that continues to threaten economic stability. For while the overarching purpose of the Dodd–Frank reforms was to end Too-Big-Too-Fail, it may actually be increasing banking industry concentration and preventing the economic recovery.
By Martin Fluck | Published: August 6, 2011
The S&P might just have catastrophically damaged its credibility. The US Treasury has just issued this rebuttal of S&P's downgrade of US debt. As if the ratings agencies did not have enough trouble in Europe, they have now given the US government justifiable cause to shake up the present ratings system. This basic error in its calculations appears irresponsibly casual and unprofessional, at the worst possible time. The scapegoating of the ratings agencies in Europe may be ludicrous, but it's a fair bet that EU politicians are going to make capital out of this. If S&P's downgrade was motivated by a desire to make up for its shortcomings during the credit bubble, it has seriously miscalculated.
By Martin Fluck | Published: November 3, 2010
US websites like YouTube now face being taken down in the UK, if they do not remove al-Qaeda’s hate videos from their site. Such is the anger amongst UK government ministers about the failure of YouTube to remove content that incites murder, that serious pressure will be put on US politicians to change the law governing online intermediaries.
By Martin Fluck | Published: October 18, 2010
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.
By Martin Fluck | Published: September 20, 2010
It’s been apparent for some time that the IMF is no longer an independent institution but an arm of the European financial elites. With Dominique Strauss-Kahn at the helm when the financial crisis hit, Germany and France have cynically been able to use the IMF for their own ends, dropping ever larger sums into the EU with ever fewer conditions, to protect German and French banks that have huge exposures to the PIIGS. Angering the very same Asian countries that were dictated to by the IMF in 1997, and who are now being asked to pay the bills, and stretching US patience to the limit, it is all likely to end in tears.