Seeing A Scary Movie For The Second Time

October 4, 2011

The markets are a horror show again, but we’ve seen this film before. The ending is not so bad.

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The Dog That Did Not Bark

May 20, 2010

Something pretty significant did not happen yesterday, and because it did not happen, not many people paid attention to it. But it is pretty significant nonetheless. Greece did not default on a public debt of €8 billion that came due yesterday. It had the cash to pay its creditors on time, courtesy of the massive rescue package that its fellow members of the euro zone made available earlier this month. …

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Sensible Measures In Europe

May 10, 2010

European leaders, with some outside help, have finally moved decisively to deal with the debt crisis that was rapidly spreading from Greece to the rest of the world. The measures announced last night make sense and should restore calm to global financial markets — for now, at least. The extraordinary steps agreed to by the 16 nations that use the euro are reminiscent of the emergency measures that the U.S. …

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A Financial Thunderstorm, Not A Hurricane

May 5, 2010

The Greek financial crisis sent markets around the world reeling yesterday, as the soothing effects of the Eurozone’s $143 billion bailout package wore off after just one business day. If Greece falls, and then perhaps Portugal, will we be looking at the sort of global paralysis that set in when the Bear Stearns domino hit the Lehman Brothers domino, which hit Merrill Lynch, which hit American International Group, ad infinitum? …

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