The liquidity tsunami that started in September of 2012 in the Marriner Eccles building and continued with the BOJ’s own epic QEasing expansion three weeks ago, has so far provided the impetus for Europe to kick the can of its inevitable dissolution for a few more months, yet slowly but surely the market is starting to read through the artificial levels implied by Italian and Spanish bonds, driven by recycled [...]
market-ticker.org / By Karl Denninger / January 5, 2013, 23:50
As you folks all know I’ve been pounding the table for years about the fact that if we’re serious about addressing what’s wrong with our budget we must break the medical monopolies.
Indeed, there’s an entire sub-category of Tickers dedicated to Health Reform, which I started writing on when the entire Obama mess began and the discussion took off in earnest.
But lately I’ve been asked to look once [...]
LANSING (CBS Detroit) - It would no doubt be controversial, but the idea of dissolving the fiscally struggling city of Detroit and absorbing it into Wayne County is being tossed around in Lansing.
WWJ Lansing Bureau Chief Tim Skubick reports other Republicans are talking about giving the city the option to vote itself into bankruptcy. And mid-Michigan Senator Rick Jones said all options should be considered — including dissolving the city.
“If we have to, that is [...]
Central banks hold 30% of global GDP
“Bank for International Settlements reports that world’s central banks are holding £11tn after purchasing government bonds
Almost 30% of global GDP, or $18tn (£11tn), is held by central banks after purchasing government bonds and pumping liquidity into the financial system to ease the current crisis.
This is double the level of ten years ago, according to the latest annual report from the Bank for International Settlements.
Be afraid: Some in U.S. see shades of 2008 in euro crisis
“They see a fractured Europe fiddling in the near term, attempting to seal one fissure as another larger one appears while they talk about a five-to-10-year timeframe for real solutions, such as a more fiscally integrated euro zone. They see investors who want solutions in the next few weeks and months or else nations like Spain and Italy could [...]
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Kerry Lutz Interviews Martin A. Armstrong
The Financial Survival Network
Martin Armstrong is back on the show to talk about what’s really happening to the world financial markets. He explains how flimsy the entire Euro structure was from the get-go. He advised the leaders to unify Europe both monetarily and fiscally, but they rejected that advice, rightly believing that theexpanded European Union would never have been approved. [...]
As the hopes of an IMF bazooka fades, Market News is reporting that the ever-ready-to-print-a-story European newspaper Die Welt says Germany and the other 5 AAA-rated nations of Europe are discussing jointly issuing ‘Elite’ bonds. We assume the borrowings could be used to fund the less-well-rated nations and avoid a true Euro-bond joint-and-several issuance which Merkel and other have been so opposed to. For now, it is clear that the ‘Have’s and the [...]