BARRIE MCKENNA
The International Monetary Fund says potentially destructive and unpredictable contagion risks spreading to the global economy if Europe’s leaders don’t quickly......
Wednesday, July 20, 2011
Fannie, Freddie, and the Three “Crises”
Scott Sumner
There’s a lot of discussion now about the role of the GSEs in “the crisis.” Unfortunately, not everyone is talking about the same crisis. Some are talking about the housing bubble/crash, some are talking about the late 2008 financial crisis, and I believe both groups have the 2011 unemployment crisis in the backs of their......
Debt Anxiety Pushes Financials Down as Bank of America, Goldman Hit Lows
Avi Salzman
The market slumped again on Monday, pulled down by European banks reeling from continuing sovereign debt concerns and anxiety over the possibility that U.S. politicians will miss their deadline to
Tuesday, July 19, 2011
US '13 days from financial disaster'
Giles Whittell
AMERICA is 13 business days from an unprecedented default on its national debt that could tip the country back into recession and set off a new financial crisis if not averted with increased borrowing, President Obama believes.
Monday, July 18, 2011
Marc Faber on Gold, Silver, Deflation and the U.S. Economy
Aftab_Singh
In the deflationist scenario, you don’t want to be in US govt. bonds & cash. In that scenario, the fiscal deficit would deteriorate greatly. If the Dow went below 1000, we would be in a total economic collapse where tax revenues would fall off a cliff. So even in the deflationist scenario you don’t want to be in the long end of the government bond market. It’s important to diversify your assets geographically. Political changes can completely wipe you out if you keep it all in one country.
Will Free-Marketeers Save Fannie and Freddie?
By Phillip L. Swagel
Here is one clear lesson from the economic meltdown of 2008: Any future U.S. administration will intervene directly and heavily if faced with a potentially devastating economic crisis. Market purists might not like it, but it is a fact I witnessed firsthand at the Treasury Department during the George W. Bush administration.
As a corollary, it is also true that the government will be compelled to step in if it becomes concerned that American families cannot obtain mortgages at reasonable interest rates. Indeed, it is inevitable that the government will also intervene if secondary mortgage markets -- that is, the trade in securities and bonds made up of bundled mortgages -- lock up.
As a corollary, it is also true that the government will be compelled to step in if it becomes concerned that American families cannot obtain mortgages at reasonable interest rates. Indeed, it is inevitable that the government will also intervene if secondary mortgage markets -- that is, the trade in securities and bonds made up of bundled mortgages -- lock up.
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