Barney Frank Backtracks On GSE Statement, Realizes Put Foot In Mouth Yet Again
March 5, 2010
Tag Archive | "debt"
Marc Faber: "I Would Recommend People Buy Every Month Some Gold For Ever"
Thursday, March 4, 2010
Marc Faber's latest thoughts on the euro (not good), on Greece (also not too good), and gold (good to quite good). "I don't think it will work out, and I think other countries like Spain and probably Portugal (and Italy) will then also have to be bailed out eventually, and it will lead to more monetization in Europe, one of the reason the euro has been so week... The pain of the austerity will be very, very burdensome on Greece, and eventually the economy can not grow with the kind of budget they will have to enact, and under these conditions their currency is way overvalued (they are in the euro).
Republicans Pushing To Count GSE Debt Toward Statutory Debt Limit May Be Surprised To Find Real Debt-To-GDP Ratio Is 130%, And That Greece Is Amateur…
Monday, February 22, 2010
A new proposal by House Republicans, lead by Rep. Scott Garrett (R., N.J.), is seeking to address changes to Fannie and Freddie accounting, along the lines of what has been previously proposed by Zero Hedge, and to not only include the GSE's losses as part of the Federal budget, but to also count the debt from the two mortgage zombies toward the nation's total statutory debt limit. As we stated previously, it is only semantics at this point which distinguish the GSE obligations from other Treasury obligations.
Deleveraging Though… Deflation? Has Ending QE Been The Ulterior Motive All Along? Andrew Smithers Thinks So
Wednesday, February 17, 2010
Confused by recent proclamations by Hoenig, Plosser, and other unnamed Fed members, who want an end to QE?
Hyperinflation As A Debt Repudiation Device? No According To UBS, Yes According To Recently Declassified IMF Paper
Tuesday, February 16, 2010
Some time ago UBS economist Paul Donovan claimed that hyperinflation as a policy tool to inflate away a staggering debt load (for those of you who have missed all the recent musings by SocGen's Edwards and Grice, this is precisely the situation the developed world countries, not to mention the STUPIDs, find themselves in right now) is unworkable due to the impacts this type of concerted action would have on broader markets . " The idea that governments can readily inflate their way out of their debt problems is a misnomer — arising, perhaps, from confusion between the fate of the individual bondholder and the response of the collective market..
Glimmers Of Rational Thought From Kansas Fed’s Hoenig
Tuesday, February 16, 2010
HOENIG: ACTING NOW TO CUT DEBT MOST RESPONSIBLE COURSE HOENIG: WLD BE MISTAKE TO DO NOTHING ABOUT MOUNTING DEBT HOENIG: INFLATION IN ARGENTINA WILL ALMOST CERTAINLY INCREASE HOENIG: CAN'T AVOID SHORT-TRM PAIN IN FIXING ECON FUNDAMENTALS HOENIG: IF FISCAL DEBT GOES UNADDRESSED,CURRENCY WEAKENS HOENIG: HIGH PRIVATE DEBT TO CONTRIBUTE POL PRESSURE ON FED HOENIG: FISCAL OUTLOOK ALSO THREAT TO FED INDEPENDENCE HOENIG: US GOVT MUST ADJUST SPENDING, TAX PROGRAMS HOENIG: PRIVATE INDEBTEDNESS ADDS TO ECON PROSPECT CONCERNS HOENIG: DEFICIT OF IMMEDIATE CONCERN;L-TRM OUTLK DISCONCERTING HOENIG: FISCAL OUTLOOK THREAT TO FED PRICE/GROWTH OBJECTIVES HOENIG: US FISCAL POLICY MUST FOCUS ON CUTTING DEBT BUILDUP HOENIG: NEED PRE-EMPTIVE CORRECTIVE FISCAL ACTN TO AVOID CRISIS
The Muni Time Bomb Is Set As Harrisburg Contemplates A March 1 Chapter 9 Filing
Sunday, February 14, 2010
A week ago we asked whether Harrisburg is a "doomed city ." Today, the city itself answered the question, after passing a 2010 budget which excludes debt payments. In essence, the city anticipates defaulting. The catalyst will be a $2 million missed interest payment on an incinerator due March 1.
Debate Over Raising Debt Limit Begins In Congress: Live Webcast Available Now
Thursday, February 4, 2010
The Congressional debate over raising the debt ceiling by a ludicrous $1.9 trillion is now in session, with a vote expected at 2 pm. As a reminder, the Senate already passed this proposal last week.
Treasury’s Quarterly Refunding Statement Released, $81 Billion In Refunding Auctions On Deck, Second Reopening Of 10 Year TIPS Coming
Wednesday, February 3, 2010
The Treasury has just released its Quarterly Refunding Statement which indicates that refunding auctions will amount to $81 billion, the same as the amount announced in the November refunding. Furthermore, the auctions sizes are also unchanged from November. The UST noted that after increasing consistently, auctions sizes will finally "stabilize at current levels" and that it is also weighing eventual cuts in coupon auction sizes
Join My Fantasy Accounting League
Thursday, January 21, 2010
For this edition of Join My Fantasy Accounting League, how about a brief thought experiment for the early morning Zero Hedge Reader? Let us assume: 2010 GDP for the United States of $14.3 trillion. 1 Total marketable and non-marketable public debt outstanding: $12.3 trillion
- On The Stupidity Of Sell-Side Analysts
- After The Bear Trap, The Bull Trap?
- Goldman Denies Having Ever Used Repo 105s
- A Second SPY Intraday Triangle Forms March 12
- It’s Official – EU Agrees On Greece Bailout
- Goldman Tells Clients To Go Long Euro, $1.45 Three Month Forecast, $1.35 Stop
- Mish And Faber Discuss Why The Fed Will Never Allow Another Fair Value Market Correction
- Debunking The Myth Of US Retail Sales Improvement
- Lehman’s Repo 105 Counterparties Barclays, Mizuho, UBS, Deutsche Bank, And KBC May Have Attempted To "Squeeze" The Bank
- Frontrunning: March 12
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Friday, March 5, 2010
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