( Read more... )

Bank Runs Amok: Eurozone Edition

Contagion from Greece is now seen spreading to Spain and is feared by many to be on the cusp of also infecting Italy and possibly other European states.

This slow motion train wreck has the potential to spiral out of control, much as the slow motion financial crisis of 2007 so did back in 2008. Economists largely ( Read more... )

Friday, 06 April 2012 10:17
By Maria Armoudian, Truthout | Book ReviewIt is not news that Americans overwhelming disapprove of the job Congress is doing. And likely, it's not surprising that two-thirds of Americans told a London-based firm, Absolute Strategy Research, that they believed that the economic system in the US is not working for most ( Read more... )

by Gaius Publius on 1/14/2011 02:34:00 PM



Paul Krugman has an excellent, major magazine piece at the Times on the prospects for Europe and the euro, as both climb out of crisis, painfully and slowly. Its title is "Can Europe Be Saved?" and the title is apt. The answer is not necessarily Yes.

Almost everyone knows something about ( Read more... )

CNBC
Art Cashin: Spain Could Be the New 'Lehman'

... “People think we’ve seen his movie before in a different version,” Cashin told CNBC.
“Was Greece in fact the Bear Stearns of this movie and are they now coming around with the CDS spreads?-The belief is that Spain could be Lehman and we don’t want to see a repeat of that.” ...

It is being widely reported today that Ireland pulled out of recession in the third quarter, with Irish GDP rising by a greater than expected 0.3% QoQ.

Since being the first more major EU country falling into recession, Ireland has fallen into what most economists could agree is a capital "D" Depression, along with other advanced nations like ( Read more... )

Wall Street Journal:
Spain's Price Drop Stokes Worries
Negative Inflation Reported as Euro Zone's Recession Is Dated to January 2008Spain became the first country using the euro to post an annual decline in consumer prices in the current slowdown, underlining concerns about the potential for deflation in parts of Europe, as an important research ( Read more... )