Foreign Central Banks Maintain Steady Agency Debt Selloff Pace
"Our inaction did not hamper credit markets — it helped to destroy them ... of the government guarantee on Agency Debt (now officially "effective"). This week a Bloomberg story 1 gives ... SFAS 140 and the QSPE off-balance-sheet deals they govern are supposed to constitute a risk [more...]
Date: 2008-10-31 07:05:02
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Deregulation Japan-style: on the (local) grog
Author: Luke Nottage (with thanks to Ichiro Araki) ... of much accumulated government debt. The country was then hit by the collapse of its export markets ... , evident in product safety or consumer credit re-regulation. On the other hand, deregulation [more...]
Date: 2009-01-15 05:00:05
FANNIE AND FREDDIE MAC ON THE BRINK
Continued sharp slide in shares of mortgage finance firms raises new concerns about need for new capital, threat of government takeover [ ... , or about half the mortgage debt in the country. They play a central role in the U.S. housing market ... of the companies if their problems worsen. The shares started to erase early losses when word came [more...]
Date: 2008-07-11 15:26:26
Parsing Mr. Paulson’s Bailout Speech: The Unprecedented Giveaway of Financial Wealth by Michael Hudson
Dandelion Salad by Michael Hudson Global Research, October 18, 2008 Mr ... of Wall Street (but not the rest of the economy!) sustain a debt overhead that is growing exponentially? Is there any limit to the amount of U.S. Treasury debt that the government can create and turn [more...]
Date: 2008-10-19 12:58:26
Flotsam and Jetsam
Flotsam and Jetsam Jennifer Rubin - 01.04.2009 - 9:28 AM Gloria Steinem comes up with a good idea (yes, she’s long overdue) ... to repay them, even as it launches perhaps the most aggressive expansion of U.S. debt in modern history ... all that debt might be a problem for the U.S. government? Some others are worried about a “time bomb” given [more...]
Date: 2009-01-04 14:28:49
Some words for NESTA Investments
In a recent TechCrunch article, Nick Halstead of fav.or.it wrote some observations on the government’s new debt-related support interventions for small and medium businesses. For odd reasons, though, he concluded the article with a brief “scathing” [more...]
Date: 2009-01-15 16:58:26
A Novel Approach to Debt Management
by The Mogambo Guru I thought I was dreaming when I read on Bloomberg ... of U.S. government debt amid the worst financial crisis since the Great Depression ... of four-week bills today at zero percent for the first time since it began selling the debt in 2001 [more...]
Date: 2008-12-23 21:14:49
Goodhart says ‘sack’ DMO to bolster UK economy
Professor Goodhart is one of the rare central bankers who fully understands monetary operations and therefore recognizes as ... the UK Debt Management Office and refrain from issuing government bonds as a way of bolstering ... that I would like to see, in a sense to get us out of the present problem, would be very simple,” Goodhart [more...]
Date: 2009-01-14 13:26:56
Will the Obama Plan Work?
While I have noted that I like the Obama Plan (or used to, see below) ... not as expected. Principally, I don't think the government going into debt to inspire us to spend money is the answer to too much debt induced spending. It is just shifting the debt load [more...]
Date: 2009-01-06 09:11:58
Financial Crisis
FINANCIAL CRISIS CURE It is a well-documented fact that the financial crisis was caused by corporations and individuals knowingly, ... amounts of further debt, the government can start a RECOVERY PROGRAM designed to identify [more...]
Date: 2009-01-10 04:15:40
Will energy show us that inflation and deflation can occur at the same time?
At the beginning of this decade investment advisor Marc Faber told incredulous investors that rising economic prosperity in Asia signalled the ... the investor class are clamoring for short-term government debt, bank deposits and money market accounts [more...]
Date: 2009-01-11 19:30:00
Search For Stimulus In A ZIRP World
Central bankers everywhere are Looking for Tools in a Zero Interest-Rate World ... . 25 it will purchase as much as $600 billion in debt issued or backed by government-chartered ... in Melbourne today, the fourth reduction in as many months. Four of 21 economists surveyed by Bloomberg News [more...]
Date: 2008-12-02 15:43:00
UPDATED: Senate buys into the Wall Street buy out… Obama: John Q Public too stupid to know what’s good for country… George Soros says buy out won’t fix credit problem
Putting increasing pressure on the House “no” voters to fall in line, the Senate voted (74-25) overwhelmingly in favor of a $700 bil government purchase of bad debt from Wall Street … with lots ... y of Treasury’s decisions (but only via “consultation and recommendations…), and sundry other details [more...]
Date: 2008-10-02 02:59:48
Fed's Latest Rescue Package Throws Lifeline to Home Buyers
According to this Reuters article, the Fed announced a new rescue package of $800 billion USD to lower the cost of home purchases, credit card and student loans. Under the new mortgage program, the Fed will buy up to $100 billion of debt issued by government-sponsored mortgage enterprises Fannie Mae, Freddie Mac [more...]
Date: 2008-11-26 09:12:56
New From the GAO
New GAO Reports, Correspondence and Testimony (PDFs) Source: Government Accountability Office 29 September 2009 + Reports 1. Debt Management: Treasury Inflation Protected Securities Should Play a Heightened Role in Addressing Debt Management Challenges 2. Combating Terrorism: U.S. Agencies Report Progress Countering Terrorism and Its Financing in Saudi Arabia, but Continued Focus on Counter Terrorism Financing Efforts Needed – + Correspondence 1. [more...]
Date: 2009-09-29 22:33:44
Euro Benefits - Revisited
Back in 1999 - 2000 there was a great debate about whether UK should join the Euro ... national debt) as there is less fear of governments defaulting.Greater confidence. The current turmoil ... to persist with unsustainable deficits. For example, Italy has national debt of over 105% of GDP [more...]
Date: 2009-01-14 09:34:00
“The U.S. Just Isn't Going Anywhere Good”
With all the death and destruction in Palestine, it’s sometimes easy to forget that the North American economy is going down the toilet ... , if you invest in $300 billion worth of toxic debt, that’s the United States government’s problem.And [more...]
Date: 2009-01-15 00:38:00
Bush Approves $17.4B Greenless Bailout for GM, Chrysler
President Bush has announced the federal government will provide $13 ... , the government will demand immediate repayment. Ford is not seeking immediate aid. Treasury Secretary ... compensation and eliminate perks such as corporate jets. Debt owed to the government would be senior [more...]
Date: 2008-12-19 17:30:34
Things I’d Like to Post About Today ….. (120608, Morning)
….. But I Don’t Have Any Time For: Great quote, from Z. Dwight Billingsley at the St. Louis Post-Dispatch (HT Hot Air) ... there is no way to make these taxpayer loans senior to existing secured debt — meaning the government might [more...]
Date: 2008-12-06 12:06:34
IRS Tax Debt
Filing of income taxes start as soon as individual start receiving their W2s ... . But unfortunately to some, they have irs tax debt still to pay to the government. I remember ... , he was devastated when he received a letter from IRS saying that he had IRS Debt because of misfiling [more...]
Date: 2009-01-01 12:43:57
A Peaceful Solution The Haybilongs
Eddie Jorge on drums, Alex Goethe on bass and Glenn Maresca on guitar and vocals ... around. Here we go, twin crises of exponentially growing debt causing huge market disruptions ... . The change we voted for seems to be more debt, increased military aggression in Afghanistan, Big Government [more...]
Date: 2009-01-10 00:41:52
European Central Banks Face Hurdles to Quantitative Easing
With interest rates coming down to rock-bottom levels, Europe’s central banks are having to look at alternative policy tools, ... in a variety of different ways, including the purchase by the central bank of government debt or private [more...]
Date: 2009-01-14 17:55:30
European Central Banks Face Hurdles to Quantitative Easing
With interest rates coming down to rock-bottom levels, Europe’s central banks are having to look at alternative policy tools, ... in a variety of different ways, including the purchase by the central bank of government debt or private [more...]
Date: 2009-01-14 20:54:00
OMB Nominee Orszag Vows to Tackle Budget Sustainability
Warning that the incoming administration is inheriting a “daunting fiscal position, ... maneuvering room to respond to crises because its government debt is viewed as a safe investment [more...]
Date: 2009-01-13 19:29:00
The Crash - What Went Wrong
When the housing market began to tank in 2005, Wall Street ran through the yellow light of caution and created even riskier investments -- and ... that no government regulator scrutinized.With these deals, known as collateralized debt obligations ... during the past seven years, earning him status as an early prophet of the credit crisis.So many [more...]
Date: 2008-12-16 16:02:00
Who Really Rules Your World
We have all heard it said that “money is the root of all evil” and probably thought that was a bit of an exaggeration ... distribution of wealth; inflation; national debt; currency crises and devaluations; recessions; depressions ... to govern the world. If you have any doubt about that, please read on. National Debt: We’ve all heard [more...]
Date: 2008-12-29 11:53:02
Global Issues 2009 & beyond
Issues In 2000, leaders from 189 nations signed on to the Millennium Development Goals (MDGs) ... for financing development. Since 2000, tangible results prove that dramatic progress is possible when developing countries and donor governments fulfill their ends of the bargain: debt cancellation has saved [more...]
Date: 2009-01-15 13:24:23
Ukraine Wobbles As The Financial Ground Beneath It Trembles
The medium-term outlook (for Ukraine) is sensitive to both external developments and policy responses ... 2006 Article IV Consultation Staff Report (February 2007) Ukraine’s economy is in trouble, there is no doubt about it. The cost of protecting debt against a sovereign default by Ukraine’s government [more...]
Date: 2008-10-12 12:15:13
An easy way to backstop the auto sector
News item from the DTM: Ottawa is willing to go to the aid of teetering auto companies, ... their shops in Canada to save money and consolidate where the government subsidies are. Given ... has tried debt plus warrants (think AIG), they’ve tried prefs (think Citibank, JP Morgan, etc.), they’ve [more...]
Date: 2008-11-10 22:36:25
Spain sees risk of debt downgrade, Fitch holds AAA
MADRID, Jan 13 (Reuters) - Spain's Economy Minister acknowledged a risk on Tuesday that major rating agencies might downgrade the country from its "AAA" credit status, although Fitch said it was holding its top-notch rating on the debt. Spain ... departed from a bullish government line to tell reporters: "It's a risk. Obviously in the case [more...]
Date: 2009-01-14 08:27:28
World Record Debt! Somebody Call Guinness!
by The Mogambo Guru I was looking for a good example of the category called " ... ' as much as it is about being So Freaking Far In Debt (SFFID) with no visible means of real, non-government ... themselves into an Un-payable, Stinking Quagmire Of Debt (USQOD) and the people acquired mass, child [more...]
Date: 2009-01-08 01:41:18
Measure of Relief
The US government has several new student loan schemes to make debt less debilitating. ……… Daniel de Vise reports …………… Suzie Dundas is at that stage of life when student loans loom larger than car leases or electricity bills. The $390 monthly payments seem to stretch into perpetuity. They are her largest monthly obligation aside from her rent, which Dundas has decided she can no longer afford. She is about to move in back with her parents. [more...]
Date: 2009-09-06 11:04:18
Understanding Financial Statements and Annual Reports (3)
Accounting is the language of business. It is the vehicle for communicating financial information about a company to many different groups of people: managers, owners, creditors, investors, customers, suppliers, government agencies, economists ... is liquid enough to make debt payments and solvent enough to repay the loan principle if the business [more...]
Date: 2009-01-02 02:49:55
UK Gov’t to Make Annual Deficit Cuts Legally Binding
Britain will make annual budget deficit reduction a legal commitment in order to bind future governments to getting the national debt down, finance minister Alistair Darling said on Monday. Latest in World Markets Klik her for at læse hele nyheden [more...]
Date: 2009-09-28 12:12:02
Past Financial Crises Suggest Pain Far From Over
Economists Carmen Reinhart and Kenneth Rogoff have been publishing various findings from a large-scale data set they have constructed of past ... increases 7% over previous norms. 5. Government debt "explodes", increasing an average of 86 [more...]
Date: 2009-01-02 05:34:40
Time for A Trip to the Mall
Andrew Leonard: There’s only one shopper with a purse large enough to make a difference in this kind of mess — and that’s the U.S. government ... cards, and digging themselves even deeper into debt at a time when credit card companies are raising ... t have any credit card debt, you’re gainfully employed, and you are staring at a $499 price tag [more...]
Date: 2008-12-02 15:17:43
Starving the Unemployed
During the Bush administration, the federal debt " nearly doubled," going from $5.7 trillion to $10.6 trillion ... of us were so worried about has now come to pass. Because of the high levels of government debt [more...]
Date: 2009-01-09 00:23:00
IAS Examination Syllabus : Public Administration
1. Introduction : Meaning, scope and significance. Evolution and status of the discipline ... Managment Movement), Classical Theory (Fayol, Urwick, Gulick and others) Bureaucratic Theory (Weber ... and public debt, Accounts and Audit. 9. Union Government and Administration in India. British legacy [more...]
Date: 2008-10-17 08:09:14
Despite The "Sudden Stop" Kazakhstan Won't Be Calling On The IMF For Help
"The Kazakh government is ready to step in,'' Kazakhstan's Prime Minister Karim Masimov said this morning in a telephone interview with Bloomberg " ... . And isn't it the case that the cost of protecting Kazakhstan government debt against default [more...]
Date: 2008-10-21 10:18:00
What Did Hank Know? And When Did He Know It?
The indispensable Carol Loomis takes on AIG in Fortune. Having an overview of the government’s bailout (and re-bailout) ... of collateralized debt obligations (CDOs) that were loaded with mortgage securities, some of them ... from AIG’s healthy insurance businesses, which could then be sold for enough money to repay [more...]
Date: 2008-12-25 15:00:41
DrumBeat: December 29, 2008
Gazprom, Once Mighty, Is Reeling MOSCOW — A year ago, Gazprom, the Russian natural gas monopoly, ... Exxon Mobil and General Electric. Today, Gazprom is deep in debt and negotiating a government bailout [more...]
Date: 2008-12-29 14:06:30
New Relationships of Trust and Cooperation Are the Way to Come Out of the Crisis
Analysis of the Crisis News Report (from Financial Times) ... for governments seeking to raise record amounts of debt to stimulate slowing economies. The fate of the first ... an estimated $3,000bn in debt this year, three times more than in 2008. My Comment: We will continue [more...]
Date: 2009-01-15 18:53:44
blogger blues
blogger blues January 13, 2009 little more than a handful of pinoy bloggers on my required-reads list have been blogging ( ... re not. the israel-palestine problem should concern us, at the very least because it involves ... , thanks to government policies, e.g. foreign policy, trade policy, debt policy, that keep [more...]
Date: 2009-01-13 10:13:24
Oh, so now the banks want to talk about credit card debt
Funny how impending doom can change their minds. This remains an industry that is just begging to be regulated ... with consumer advocates to urge the government to allow huge portions of credit card debt to be forgiven ... for consumers to erase their credit card debts in bankruptcy. The new pilot program — which the banks [more...]
Date: 2008-10-31 08:38:00
When Is The Best Time To Buy Bonds?
Bonds, or fixed income securities, are debt instruments issued by companies or the government that pay a certain amount of interest, ... , if the investor is 20 years old, then 20% of the portfolio should be in bonds. This is a bunch of baloney [more...]
Date: 2008-12-10 04:29:21
Daily Owner Earnings
ThoughtsIn a nation where the majority of voters are fools; fools end up running the nation ... . 2009 could be the year when investors realize there is no way the US government debt [more...]
Date: 2009-01-15 23:22:00
Water Infrastructure Investments
Here's a free tip: Buy Itron Inc. (NASDAQ: ITRI) It's trading below $60.00 right now, but it'll go to at least $90.00 in no time. Here's why ... government so there is no debt, inflation, or any [more...]
Date: 2009-01-14 18:28:52
Extract from the latest article from The International Forecaster ... will rise as government extortion continues apace and inflation will rage.Government debt is no longer safe in America and that means neither is corporate or personal debt. All the stimulation has costs [more...]
Date: 2009-01-15 13:17:33
TREASURIES MAY MAKE US WAIT
“The two most powerful warriors are patience and time ... of U.S. Treasuries. I've suggested that both governments might be losing their appetites for U.S. debt for several ... are experiencing severe recessions, and their ability to fund U.S. debt has been curtailed.4. Both Japan [more...]
Date: 2009-01-15 20:48:00
Highlights of David Cameron's interview with Andrew Marr this morning
Update: The BBC website now has a full transcript of the interview here ... as it's added to the national debt". Regarding the Government's plan for a rise in National Insurance [more...]
Date: 2009-01-11 10:31:41
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