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Credit Writedowns Pro is now live

Finally the time has arrived. Credit Writedowns now offers Credit Writedowns Pro, a members-only forum for those interested in finance, markets and the economy. I finished up my first weekly newsletter piece this morning and have been working on some admin/backend stuff since then. There are a few kinks in the system but things look ok

Published by on 5 January 2012 14:28

News Links 01/06/2012

Ron Paul And The Banks « The Baseline Scenario Mr. Paul also has a clearly articulated view on the American banking system, laid out forcefully in his 2009 book, End the Fed.  This book and its bottom line recommendation that we should return to the gold standard – and abolish the Federal Reserve system –

Published by on 6 January 2012 10:30
crystal ball

Edward Harrison’s Ten Surprises for 2012 (short version)

Yesterday morning, I did the first weekly newsletter on my ten surprises for 2012. Here’s a brief version of the list

Published by on 6 January 2012 08:54
jobs wanted

Beyond Jobs

The US jobs report is the main economic release today. In recent months, better than expected employment reports have spurred risk on trading and this has been dollar negative. Given the ADP report, despite the December skew in that time series, market expectations appear to have crept higher and it will take a stronger than expected number of give the dollar much of a lift. However, with Spanish and Italian bond auctions next week, the extent of a relief rally in the euro may be constrained

Published by on 6 January 2012 07:30
happy new year

Happy New Year Smiles

Coldplay is what I’m listening to tonight

Published by on 5 January 2012 21:35
European Union

Right Now the Debt Crisis is European, But the Problem is Global

In addition to the European economic recession exerting a drag on the rest of the world, the real threat of bankruptcy of a major financial institution can rapidly spread throughout the globe as a result of a run on the banks or the opaque interrelationships between European banks and financial institutions in other nations

Published by on 5 January 2012 20:00
Castellers

Why Spain may be More Worrisome than Italy

At the end of last year, Italian 10-year yields were more than 200 bp on top of Spain. The spread has narrowed in recent days, but is still well beyond the euro era average of about 10 bp and the late 2008 extreme near 65 bp. There is more room for Italy to outperform Spain

Published by on 5 January 2012 13:54
News

News Links: Credit Card APR Hits Record at 15 Percent as Fed Funds Stays at Zero Percent

Financial news links for 5 January

Published by on 5 January 2012 10:30
eurozone

Refunding Fears Take Toll on Europe

One of the key factors behind the poor sentiment toward the euro, which was pressed to new 13 month lows in Europe today, is the challenge posed by the sovereign and bank refunding needed this year, while rating downgrades loom around the corner. Euro zone sovereigns have an estimated 800 bln euros of debt servicing and spending to fund this year, while the banks have a little bit more

Published by on 5 January 2012 07:30
Jeffrey Gundlach

Jeffrey Gundlach’s Bond Outlook

Here’s the skinny on how Jeffrey Gundlach sees the best tactical bond market approach for US-based investors

Published by on 4 January 2012 20:00
euros

ECB/Fed Support for the European Banking System – 750 billion USD, and counting …

It is my view that the ECB is now the only thing between the economy and widespread bank failures, but I also concur that the consequence of this is a permanent outsourcing of the interbank market in Europe to the ECB’s balance sheet and, quite possibly, Fed’s USD swap lines

Published by on 4 January 2012 18:00
mission impossible

A real mission impossible

When I worked in banking not so long ago, it was actually cool to be “old school”. It was just another way of saying that one would try to balance the bank’s interests with that of the corporate client’s. To make neither too little money off of them, nor too much. And to never, ever, ever give them the impression that the high fees they were paying would be used to pay for something like your next Ferrari

Published by on 4 January 2012 16:00

Political Economy»

government capitol

My comments on MMT’s job guarantee idea

3 January 2012 08:30
Over the holidays, a debate broke out in the blogosphere about the so-called job guarantee idea that the MMT folks have bandied about. I call this controversial idea "Unemployment...

Economics»

Debt

Krugman, Tabarrok, Cowen and the bond vigilante fallacy

3 January 2012 16:00
I don’t expect any response from Paul Krugman, Alex Tabarrok or Tyler Cowen on this but they know who I am and read my articles from time to time. I am going to add...

Financial Institutions»

mission impossible

A real mission impossible

4 January 2012 16:00
By Finance Addict When I worked in banking not so long ago, it was actually cool to be “old school”. It was just another way of saying that one would try to balance the...

Housing»

Australia housing

Full Text: Moody’s revises rating outlook for Australian mortgage insurers to negative

19 December 2011 21:29
Below is the press release issued by Moody’s in conjunction with the down grade of Australia’s mortgage insurers. Sydney, December 20, 2011 — Moody’s...

Business»

robot farmer

Nonlinear Thinking: The Robot Farmer

26 December 2011 22:40
In the ongoing series of posts on technology’s threat to existing labor roles, Global Macro Monitor highlights this video on robot farmers. By Global Macro Monitor
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