Daily Archives: April 12, 2013

As banks continue to report strong (although slowing) earnings, a large portion of the “growth” has come thanks to an accounting maneuver that reduces reserves and takes that notional capital back into revenue. The reality is that the current fractional … Continue reading →

Yale University’s Stephen Roach, formerly of Morgan Stanley, talks about why American consumers are not doing as well as everybody seems to think. Here is a direct link.

Not only are Canadian households the most indebted they have been in history, our government debt both provincial and federal has climbed to new highs as well. Federal debt is now over 600 billion and has been rising steadily throughout … Continue reading →