The casualties continue to pile up in the wake of the Swiss National Bank dropping its peg to the euro.
As late as last Friday polls expected New Democracy would lose but not get trounced.
The problem with the global economy in general is debt. You cannot cure a debt-deflation problem via attempts to force more debt into the system. It is axiomatic the cure cannot be the same as the disease.
In the wake of ECB's 60 billion a month QE madness (see "QE already Working" Says IMF Lagarde; Ho-Hum Details Announced; Gold the Place to Be), one might be wondering what it may do to European bond yields.
Every Obama proposal is Dead-on-Arrival. Obama may as well fire a spaceship at the sun. The spaceship would melt long before it got there. Here's the deal: Like president Obama, the ECB is impotent.
During the last dozen years or so, the only State of the Union Addresses I failed to watch were because I was on the road. On Tuesday, I purposely missed one.
A Bloomberg editorial on what the ECB needs to do is rather amusing. The article headline, albeit true in and of itself, contradicts the body of the article.
Yet, politically speaking in general, last minute undecided voters in elections (at least in in the US) tend to break strongly in one direction. I see no reason why Greece should be any different.
Dimitrijevic grew assets over five crises, then lost it all on one bet, a recent one, speculating the wrong way on the Swiss Franc after Switzerland voted against a referendum on gold.
Don't believe statements made by central bankers. They are not the economic wizards they are made out to be, and they often lie when it suits their purpose.
In a surprise announcement, the Swiss National Bank abandoned its silly policy of defending a peg to the euro.
So much for those allegedly strong Christmas sales. In fact, sales of nearly everything were down in the Yesterday's Commerce Department Retail Sales Report for December 2014.
Since 2012-02-25, the price of crude is down from $128.40 to $46.81. That's a decline of 63.5%!
Finally, someone called "central bank credibility" the biggest bubble. Let's take a look.
Progress for Illinois democrats is tax hikes, followed by tax hikes, followed by more tax hikes simply to cover inane benefits of public unions while taxpayers and businesses flee the state.
The new game in town appears to be "let the banks pass stress tests in public, fail them in private". Only 13 banks failed the stress tests to a total tune of 9.5 billion.
The big surprise in this month's report was a decline in average hourly earnings.
Krugman "was" right. However, the definition of "was" requires one to go back to 1997. Somewhere along the line Krugman acquired the "conscience of a liberal" and he has been wrong ever since.
As expected, the Eurozone fell into deflation last month, but details show energy and unprocessed food are the only things in decline. Services are up 1.2%.
