“For the North Atlantic economies,” Debelle concludes, “this was a big recession which, combined with large falls in both commercial and housing property prices, should result in large losses.” He goes on to point out that the government-guaranteed larger lenders might survive these larger losses. But smaller regional banks might not.
February 18th, 2010 | Dan Denning | 50 comments | ContinuedAll Posts Tagged With: "central banker"
Japanese Government Displays Generosity as Prices Fall in Japan
“Japan Deflation Hits a Record Pace,” reported the BBC. Prices in Japan were falling faster than they ever had since they began keeping track in 1970.
February 8th, 2010 | Bill Bonner | 5 comments | Continued
Have Things Turned the Corner for Funding Aussie Mortgage Growth?
It’s probably too early to say. The Australian Office of Financial Management continues to support the market for non-bank lenders. Non-bank lenders have to fund new loans via securtisation. Without the AOFM’s backing, you have to wonder how many first home buyers would have been able to find housing finance.
December 21st, 2009 | Dan Denning | 25 comments | Continued
Volcker, the Last Central Banker in America to Have Any Real Integrity
He saw what needed to be done and he did it. He hiked up rates and brought consumer price inflation under control.
December 14th, 2009 | Bill Bonner | 4 comments | Continued
The On-Again, Off-Again Depression
If you step back a bit further, you could see it in a different light. Ten years ago, The Daily Reckoning warned of a long, Japan-like slump. Then, the stock market fell and the economy went into a recession.
December 11th, 2009 | Bill Bonner | 2 comments | Continued
Dubai, the Financial Center Built on Sand
No on is sure what is going on. Most people take from this story what we knew all along: lending to shady characters in sunny places is not an easy way to make money.
December 1st, 2009 | Bill Bonner | 1 comment | Continued
IMF Report Concludes Aussie Banks are “Very Sound”…
The Guv also said he would not be too timid about raising interest rates. He believes the threat [of global financial calamity] has passed and that the bigger threat may well be inflation. That kind of tough talk sent the Aussie dollar right up to over 92 cents against the greenback. If it weren’t late fall, now might be the perfect time to take a trip to America and see how cheap things really are.
October 16th, 2009 | Dan Denning | 13 comments | Continued
Why I Would Have Raised the Interest Rates
Am I privy to the discussions of the RBA Board? No again. But I do know this. I do know why I would have raised rates, and would keep on raising them until the Government gets the message.
October 9th, 2009 | Dr. Steven Kates | 16 comments | Continued
Depression: A Natural and Recurring Feature of Capitalism
Then, the capitalists lost their money. Big deal. That’s the way it’s supposed to work. Capitalism is inherently dynamic and unstable…full of sturm and drang, boom and bust, creativity and destruction. It’s always prone to blow itself up just when people count on it most.
April 6th, 2009 | Bill Bonner | 2 comments | Continued