some links to ponder
Japanese economists think maybe US Treasury should issue some bonds in yen - takes out some of the uncertainty, just in case the dollar were to slip a bit...
Fed capitulates - the new buzzword is "quantitative easing" - or "going fiscal" as they say.
Systemic Risk - trade and contagion - it is not just Iceland who can't get their dry goods shipped - letters of credit are not being accepted and trade is halting. Back to barter for everyone.
Liquidity Lift for Student Loans - DoE to purchase student loans back to 2003 to try to keep market liquid.
Maybe a miracle will happen...
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In an article reviewing the success of the Euro, the WSJ attributes at least some of the finiancial instability of recent months to currency volatility between the US and Europe.
The Euro has had numerous benefits:
Travel was made easier, as was trade and investment. Interest rates fell. Prices…
US Treasury Bonds sold at -0.005% interest
h/t CR
Yes, to lend the US Treasury $1000 for three months, you would have to pay them.
About $0.01 for the term.
They sold $27 billion of these, which means financial institutions are paying the US government.
They are paying the US about a quarter of a…
helvítis fokking fokk!
this is why you should never go with the 2.0 - always wait for 2.1
so, er, funny thing happened...
the Icelandic President vetoed the law passed by Alþingi right at the end of 2009. The one that acceded to all UK and Dutch demands in the IceSave fiasco.
This is a first.
As…
With the insanity that's been going on in the financial world
lately, a bunch of people have asked me to post a followup to my
earlier posts on the whole mortgage disaster, to try to explain
what's going on lately.
As I keep saying when people ask me things like this, I'm not an economist. I don'…