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Daily Archives: November 19, 2010
China vs. the US: the gloves are off
The battle between currencies and countries is intensifying with news of the latest rate hike in China strategically announced just as Fed Chairman Bernanke is doing the speaking circuit trying to defend his plan for QE2 to the angered international … Continue reading
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Roubini on the bail out merry-go-round
Further attempts at intervention have only increased the magnitude of the problems with sovereign debt. He says, “Now you have a bunch of super sovereigns— the IMF, the EU, the eurozone—bailing out these sovereigns.” Essentially, the super-sovereigns underwrite sovereign debt—increasing … Continue reading
Gary Shilling on "The Age of Deleveraging"
Economist Gary Shilling says the middle class needs a reality check now that the ability to borrow is in systemic decline. Realistic adjustments to spending and our sense of necessities as well as career retraining are the way to recovery.
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