Mario Draghi, new ECB boss who completed his monetary apprenticeship at Goldman Sachs, has conjured up a sneaky way to print money while giving the impression he’s doing nothing of the sort.
January 19th, 2012 | Greg Canavan | 1 comment | ContinuedAll Posts Tagged With: "European Central Bank"
Debts With Unsolvable Insolvency
Even before debt became such a big problem, real growth had already begun to disappear from the developed world. There has been none in Japan for the last 20 years…and almost no real growth in the US private sector for the last 10 years. In Europe, grosso modo, the story is similar.
January 18th, 2012 | Bill Bonner | 0 comments | Continued
Don’t Invest in Europe’s Debt
On December 5th 2011, S&P warned the Europeans to get their divided house in order. Almost nothing constructive or helpful to solve Europe’s debt problem has happened since then. On Friday the 13th January 2012, Standard and Poor’s cut the credit ratings of nine European countries. S&P’s biggest scalp was France.
January 16th, 2012 | Dan Denning | 0 comments | Continued
How Central Bankers Attempt to “Cure” Insolvency
Whenever a central bank cannot provide direct, overt assistance to a specific insolvent investment bank or government, not to worry, a central bank can still provide indirect, covert assistance.
January 9th, 2012 | Eric J. Fry | 4 comments | Continued
Central Banks Go Bonkers
This week, a certain joke became a painful reality, with a reshuffle at the European Central Bank.
January 7th, 2012 | The Daily Reckoning | 2 comments | Continued
A Brief Retrospective of the Year Gone By
Before we say goodbye to 2011, let us pause to remember it…briefly. We spent 365 days with it – 365 days in a row. We can’t just move on to 2012 without a least a backward glance. What kind of a year was it? In what direction did it take the world, dear reader? Should we cheer that it is gone…or merely dry our eyes and hope for the best?
January 4th, 2012 | Bill Bonner | 0 comments | Continued
Why Europe’s Fiscal Integration Still Spells Financial Doom
Financial markets will tell you whether private investors believe greater “fiscal integration” is the long-term answer to Europe’s debt problem. We can save you the trouble and tell you the answer now: Europe is still doomed.
December 12th, 2011 | Dan Denning | 5 comments | Continued
Will European Governments Tighten Up?
All eyes are on Europe. If the European governments can pull off a save…well, we’re all saved. At least for a few weeks. Maybe through the holiday season.
December 7th, 2011 | Bill Bonner | 0 comments | Continued
It’s The Only Play Central Banks Know
The credit cycle has turned. The world is in a deleveraging phase. But central banks are still trying to reverse the process and provide more credit to households and businesses? They really only have one play in the playbook.
December 1st, 2011 | Greg Canavan | 0 comments | Continued
Europe’s Credit Crisis is China’s Trading Problem
Europe isn’t a huge customer of raw commodities. But China is Europe’s largest trading partner. So there is a knock-on effect…somewhere down the line.
November 29th, 2011 | Dan Denning | 0 comments | Continued
Banking Crisis Anatomy
Did bankers around the world learn their lesson in the banking crisis of 2008?
Yep, they sure did. They learnt the lesson that when they get into financial trouble they can expect the government to bail them out. That’s why they are back in exactly the same fix again today.
But wait, ‘exactly the same fix’?
November 26th, 2011 | Nickolai Hubble | 2 comments | Continued
European Central Bank (ECB) to the Rescue?
The failure of the German bond auction earlier this week was the latest shock. It tells us that pressure on the European Central Bank (ECB) is mounting.
It’s one thing when Greece and even Italy can’t finance their debt. Who cares? But it must surely get German bankers’ attention when nobody wants to buy their bonds.
November 25th, 2011 | Bill Bonner | 1 comment | Continued
Insider Economy
As the economy is taken over by zombies, more and more people are needed to do the zombies work shifting more and more of the economy’s output to the insiders.
The insiders rig the system for their own benefit. The rigs each one of them a form of price-fixing or central planning weaken the system. In today’s battle, the insiders fight to protect it.
November 24th, 2011 | Bill Bonner | 1 comment | Continued
Eurozone Falling Apart
The Eurozone is crumbling away.
How far apart the Old World will fall, we don’t know. But it looks as though big chunks of the continent must be cut adrift…or the whole of it will sink.
November 21st, 2011 | Bill Bonner | 0 comments | Continued
Goldman Sachs Facts
A cynic would point out that both the new Greek and Italian leaders are Goldman Sachs insiders. As is the new European Central Bank president, Mario Draghi.
But why does Goldman Sachs’ influence matter?
November 19th, 2011 | Nickolai Hubble | 0 comments | Continued
