Category Archives: Fiscal Policy

U.S. Macro in Two Simple Charts

Posted on March 11, 2011 by macromon

To understand the U.S. economy go no further than the following two charts.  In 2009 and 2010, public sector borrowing was more than 100 percent of total net domestic credit flows.  Federal government borrowing was 93 percent of these flows.   … Continue reading →

Posted in Credit, Economics, Fiscal Policy, Monetary Policy, Policy, Sovereign Debt, State and Local Government | 4 Comments

Euro Fracture: A “Tea Party” Revolt?

Posted on March 9, 2011 by macromon

Much has been written about the growing anger and political strife within the highly indebted European periphery.   The FT reports today about the growing anger and resentment in the countries financing the bailouts, Even among Brussels’ tightly-knit cadre of … Continue reading →

Posted in Euro, Fiscal Policy, Geopolitical, Monetary Policy, PIIGS, Sovereign Debt, Sovereign Risk | Tagged , , | 3 Comments

Soros: Regime Change in Iran, Bond Crisis is U.S.

Posted on February 20, 2011 by macromon

Fareed Zakaria discusses current events with George Soros on today’s GPS.   Click here for the entire interview.   It’s well worth your time. Money Quotes: Comparison 1989 fall of the Berlin Wall and Middle East Uprisings SOROS: It is very similar. … Continue reading →

Posted in Fiscal Policy, Geopolitical, Sovereign Debt, Sovereign Risk, Uncategorized, Whales | Tagged , , , | Leave a comment

South Carolina Politico Wants to Create State Currency

Posted on February 13, 2011 by macromon

State Sen. Lee Bright introduced legislation to create a new state currency in the event of a breakdown of the Federal Reserve System.  The Spartanburg Herald Journal reports, The Federal Reserve System has come under ever-increasing strain during the last … Continue reading →

Posted in Budget Deficit, Currency, Fiscal Policy, Gold, Monetary Policy | Tagged , , | Leave a comment

States of the Union: Califoreclosia, Creditcutt, & New Yoke

Posted on January 27, 2011 by macromon

The Economist rips President Obama for failing to address the country’s real problems.   This week’s cover, just out, is very creative and quite amusing.  The Economist renames every state in the Union with a debt related pejorative.   This must … Continue reading →

Posted in Fiscal Policy, General Interest, State and Local Government | Tagged , | 5 Comments

European Commission: The U.S. is Worse

Posted on January 11, 2011 by macromon

Here is a European Commission chart that appeared in the online version of Der Spiegel.  It could be a decoy to deflect the markets attention off Europe and push back to what they may perceive as America’s wallowing in schadenfreude … Continue reading →

Posted in Black Swan Watch, Fiscal Policy, Sovereign Debt, Sovereign Risk, Uncategorized | Tagged , , , | Leave a comment

“Tea Party” Opposition to the Euro Grows in Germany

Posted on January 10, 2011 by macromon

  We can’t believe we missed this over the holidays. Germany’s SpiegelOnline reported on December 27, In a survey conducted in early December by the polling firm Infratest dimap, 57 percent of respondents agreed with the statement that Germany would … Continue reading →

Posted in Black Swan Watch, Bonds, Economics, Euro, Fiscal Policy, Geopolitical, Monetary Policy | Tagged , | 1 Comment

It’s Official! Western Europe Now An Emerging Market

Posted on January 6, 2011 by macromon

The Markit SovX CEEMEA CDS index has traded through the SovX Western Europe CDS index for the first time.   Just a little over a decade ago, some of these countries in the CEEMEA were either: 1)  in hyperinflation; 2)  in … Continue reading →

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

Did the Russell 2000 predict the better than expected ADP?

Posted on January 5, 2011 by macromon

Did you notice the better than expected ADP employment report this morning.  It was the largest monthly jump ever in this report, with most of the jobs created in small and medium sized businesses? Recall we wrote on January 3rd … Continue reading →

Posted in Budget Deficit, Currency, Employment, Fiscal Policy, Muni Bonds, News, Policy, Politics | Tagged , , , , | 2 Comments

Betting on a Jobs Recovery, Christie, and Brown….

Posted on January 3, 2011 by macromon

Like others, we can’t help but notice the massive outperformance of small caps in 2010, with the Russell 2000 doubling the performance of the S&P500. The Russell was up over 25 percent in 2010.  Isn’t this only supposed to happen … Continue reading →

Posted in Bonds, Budget Deficit, Economics, Employment, Equities, Fiscal Policy, Muni Bonds, Muni Market, Politics | Tagged , , , | 2 Comments