Times they have to be pretty bad if the economists are called in to run a country! Papademos is now the Greek prime minister and it appears that Monti will get the tap in Italy. We will have two PhD economists, from MIT and Yale, ready to lead the battle charge...
The news flow from last week was so voluminous it was nearly impossible to process. For good measure I want to start today’s commentary with a simple recap of what happened. On the negative side – · Greece called a referendum and threw bailout plans up in the air...
It is always nice to come in, turn on the screens and see the spoo up a percent, 2yr Greece/Germany spreads 500 wider and 10yr France/Germany 2 wider. It’s that sweet sweet music of Fed reflation and European detonation! Yesterday, Ben gave a most transparent...
The language on growth is a little more upbeat - "economic growth strengthened somewhat in the third quarter" and "household spending has increased at a somewhat faster pace in recent months". This statement from the last meeting however stayed intact - "Moreover,...
The last time we had a referendum in Greece was 1974 when the monarchy was abolished and Third Hellenic Republic was established. Since 1829 there have only been 8 referendums in Greece, which ironically enough is very close to the number of defaults since that time...
The last time we had a referendum in Greece was 1974 when the monarchy was abolished and Third Hellenic Republic was established. Since 1829 there have only been 8 referendums in Greece, which ironically enough is very close to the number of defaults since that time at 5. Needless to say Greeks do not call […]
