In it were no crying widows and no shivering orphans. Just one very satisfied Lloyd Blankfein, chief executive of Goldman Sachs. He had sold the Greeks their debt, said the papers; now he has sold it short.
February 22nd, 2010 | Bill Bonner | 3 comments | ContinuedAll Posts Tagged With: "Jean-Claude Trichet"
Trichet Should Tell Greeks to Drop Dead
Greek finance minister Papaconstantinou promised spending cuts that would reduce the deficit down to the allowable 3% level within 2 years. But could he deliver?
February 15th, 2010 | Bill Bonner | 1 comment | Continued
It’s the Little Economies that Have Trouble
So far, the big economies don’t have a problem. Lenders think they are good for the money. Almost miraculously…or supernaturally…the USA – the world’s biggest borrower – is able to obtain financing…
February 11th, 2010 | Bill Bonner | 0 comments | Continued
USA Has Fives Times As Much Sovereign Debt As All the PIIGS Put Together
The PIIGS owe $2 trillion, which might need to be restructured. Yes, dear reader, the sovereign debt problem is a big one – much bigger than Bear Stearns, Lehman Bros. and AIG.
February 10th, 2010 | Bill Bonner | 0 comments | Continued
Keynesian Economists Bluff in Global Economic Gamble
One step forward, three steps back. That’s what the trading action looks like in the markets now. For every big one day advance of 1% to 5% or more, you’re going to get a corresponding sell off equal or greater to that. It’s not normal to see these kinds of one-day moves. But these aren’t normal times. We’re back on the edge of a credit abyss. Just when investors were convinced that the Gordon Brownification of the world’s banking sector had put the credit crisis behind us, we have more bad news.
October 16th, 2008 | Dan Denning | 3 comments | Continued
