A Financial Crisis That Just Keeps Moving – NYTimes.com

Posted by Matt in February 8th, 2010 | no comment

Published in Economy, Financial, Chairman Of The Federal Reserve, Chairman Of The Federal Reserve Board, Countries In The Euro, Economic Problems, Economy, Euro Zone, Fair Game, Federal Reserve, Federal Reserve Board, Financial Crisis, Financial Leaders, Greece, Henry M Paulson, Henry M Paulson Jr, Indebted Countries, Investors, Nonsense, Portugal, Subprime Mortgage, Treasury Secretary

YOU know we’re in trouble when we’re told that the economic problems in Greece, Portugal and Spain, the most indebted countries in the euro zone, are likely to remain safely contained in those nations.
After all, we heard the same nonsense in 2007 from United States financial leaders talking about the subprime mortgage mess. Both Ben [...]

The Worst May Not Be Over for Europe – NYTimes.com

Posted by Matt in January 1st, 2010 | no comment

Published in Europe, Forecasts, Countries In Europe, Debt Obligations, Economists, Euro Zone, Europe Union, Fears, Fracture, Fragile Day, Greece, Monetary Union, Nytimes, Risk, Sovereign Debt, Vulnerable Members

Never before has Europe’s monetary union seemed so fragile.
Day by day, fears are growing that Greece or another weak country may default on its sovereign debt obligations, forcing the richer countries in Europe to ride to the rescue or risk having one or more of its most vulnerable members leave the 16-nation euro zone.
Many [...]

The U.S. Financial System Is Effectively Insolvent

Posted by Matt in March 5th, 2009 | no comment

Published in Financial, U.S., Asia, Depression, Economic Activity, Euro Zone, Europe, Financial Crisis, Fourth Quarter, Germany, Global Financial Crisis, Global Recession, Gross Domestic Product, Japan, Relative Optimism, Risk, Singapore, South-Korea

For those who argue that the rate of growth of economic activity is turning positive–that economies are contracting but at a slower rate than in the fourth quarter of 2008–the latest data don’t confirm this relative optimism. In 2008’s fourth quarter, gross domestic product fell by about 6% in the U.S., 6% in the euro [...]