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Channel: Greece – The Center of the Universe
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PSI/Bond tax- the 800 lb gorilla?

Greece did it, and sanctioned by the EU. They cut their deficit by 100 billion euro by decree, by what was called ‘private sector involvement’ which was, functionally, a bond tax. Instead of another...

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Norway protesting PSI losses

>    >   (email exchange) >    >   On Tue, May 8, 2012 at 10:21 AM, John wrote: >    >   Norway’s oil sovereign wealth fund has sold all its holdings of Irish and Portuguese >...

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Marshall – CTV National Affairs

One of Marshall’s regular TV appearances. Darn, he’s getting good at this! CTV National Affairs

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Greece’s Tsipras: We Want Euro, but Not Austerity

As previously discussed, for all practical purposes there is no political support for leaving the euro. The various populations simply do not trust their own governments with their currency: Greece’s...

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Athens Stock Exchange

They have certainly had their ups and downs: Click here for larger version

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Quick update

US economy muddling through, growing modestly, particularly given the output gap, but growing nonetheless. Lower crude prices should also help some. I had guessed the Saudis would hold prices at the...

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Secret Greek Fund Revealed

Except it’s just about an ‘allowable entry’, not a ‘fund’. The BOG, functionally a ‘branch’ of the ECB, just ‘accounts for’ negative member bank balances as loans. Presumably on a ‘legally’...

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HOLLANDE SAYS BANKING LICENSE WOULD GIVE ESM `GREATER POWER’

Yes, a banking license means unlimited ECB support. The ‘talk’ continues to move in the right direction. *HOLLANDE SAYS BANKING LICENSE WOULD GIVE ESM `GREATER POWER’ *HOLLANDE SAYS MANY IDEAS ON TABLE...

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Greece after math

Looking like it was another ‘buy the rumor sell the news’ near term. After you do the maths it still doesn’t add up. It can’t add up. Ever. Given today’s institutional structures- pension funds,...

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Greek funding

Falls under ‘will do whatever it takes’ ;) Greece is in the process of trying to secure funding from Greek local banks to payoff 2.6 bb in Greek Government bonds maturing this month (4.10% 8/20/12)...

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Why prices can go up when demand is low

http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_1_27/09/2012_463278 Greece’s biggest employers group on Thursday said that rising costs, poor infrastructure, higher borrowing costs and red tape...

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The Stockman’s big swinging whip

The Man from Snowy River By Banjo Paterson So Clancy rode to wheel them — he was racing on the wing Where the best and boldest riders take their place, And he raced his stock-horse past them, and he...

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Jobs, Currency wars, etc.

Heaps stronger than expected: Employment Situation Highlights Today’s employment situation was heavily positive even though the unemployment rate edged up. Payroll jobs gained 257,000 in January after...

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Wholesale trade, BOE on Greece, Redbook sales, Jolts

Inventories looking excessive: Wholesale Trade Highlights The economy may be solid right now but inventories at the wholesale level look heavy, rising 0.1 percent in December vs a noticeable 0.4...

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mtg purchase apps down again, Earnings, Greece chart, gasoline demand

Not good. Purchase apps back down to depressed levels after a dip in front of govt mortgage fee cuts followed by a small blip up after the cuts, and up only 1% from last year’s cold winter depressed...

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Redbook retail sales, Greece comment

Hopefully it bounces back: Redbook Highlights This year’s Easter shift, from late in April last year to early in April this year, is greatly distorting store sale comparisons. Redbook’s same-store...

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new home sales, median household income, greek fin min comments, rail data,...

Another weak number but no surprise as last month’s was suspect on the high side. Highlights One day up, one day down is a fit description for recent housing data. Last week’s declines in housing...

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macro update

At the beginning of 2013 the US let the FICA tax reduction and some of the Bush tax cuts expire and then in April the sequesters kicked totally some $250 billion of proactive deficit reduction. This...

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Existing home sales, Chicago Fed, Greece

Up some but still at depressed levels, and not enough to indicate a general bounce in spending. Personally I sold come small condos in Chicago I’d owned since working there in the early 1980’s. I got...

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Nice Mentions in Bloomberg

Nine People Who Saw the Greek Crisis Coming Years Before Everyone Else Did By Julie Verhage and Alex Balogh (Bloomberg) Saw it all coming in 1995 and held a conference on it in 1996 in Bretton Woods....

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