Monthly Archives: December 2010

Rogoff on Euro Crisis: “Endgame…a wave of debt writedowns”

Posted on December 2, 2010 by macromon

One of the best pieces we’ve seen on Europe’s debt crisis is Kenneth Rogoff’s, The Euro at Mid-Crisis, posted today over at Project Syndicate.  He doesn’t hold back in criticizing how policymakers, excluding Angela Merkel,  are deluding themselves and in … Continue reading →

Posted in Black Swan Watch, Bonds, Budget Deficit, Euro, Fiscal Policy, PIIGS, Sovereign Debt, Sovereign Risk | Tagged , , , | 1 Comment

Video of the Day

Posted on December 2, 2010 by macromon

Now for a little timeout from the markets.  If the weather’s got you down, of for our friends in Ireland and Greece,  or anyone else,  check this out.  Inspiring.

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The Christmas Ramp

Posted on December 1, 2010 by macromon

Here’s a look at the YTD performance of U.S. stocks.  December is shaping up for a year-end ramp as many dedicated funds are under allocated and under performing their benchmarks in a big way.  The S&P500 held its 50-day moving … Continue reading →

Posted in Equities | Tagged , , , | 1 Comment

Economies of Scale: Eurozone vs American States

Posted on December 1, 2010 by macromon

Great graphic from the Wall Street Journal’s Real Time Economics comparing the size of Eurozone economies to those of selected American states.  Here’s their intro, To get a sense of scale, Real Time Economics compared the 2009 output of goods … Continue reading →

Posted in Economics, Euro, Policy | Tagged , | Leave a comment

Chart of the Day: Euro’s Dead Cat Bounce

Posted on December 1, 2010 by macromon

Our Chart of the Day is the Dead Cat Bounce in the Euro.  The currency rallied on rumors of massive QE by the ECB to support the bonds of the PIIGS?  Come on!  QE of such size would drive the … Continue reading →

Posted in Black Swan Watch, Bonds, PIIGS, Sovereign Debt, Sovereign Risk | Tagged , , , | Leave a comment

Curse of a Strong Currency: Australia’s Growth Stalls

Posted on December 1, 2010 by macromon

In a world of competitive devaluations, Australia is now the poster child of why countries are fighting to keep their currencies cheap.  The government announced Q3 GDP grew just 0.2 percent, bringing down the annual growth rate from 3.3 percent … Continue reading →

Posted in Currency, Monetary Policy | Tagged , , | Leave a comment