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No, I'm waiting for you to explain how trade balances drive an economy.
Usually, trade imbalances are a symptom, not a cause. But they can be a cause because they can induce capital flight in the short-run. Negative trade balances are one of the first things macro traders screen for when looking to short a country.
In the long run, trade balances do not drive an economy.
Yields have collapsed over the past week. Italian and Spanish bonds are now yielding below 6%. The moves have been breathtaking. Short covering is a bitch.
Looks like its time to get short again.
Yields have collapsed over the past week. Italian and Spanish bonds are now yielding below 6%. The moves have been breathtaking. Short covering is a bitch.
Looks like its time to get short again.
Geithner is telling the EU the USA will help them kick the can down the road until Nov 2012
Bet on it
Yields have collapsed over the past week. Italian and Spanish bonds are now yielding below 6%. The moves have been breathtaking. Short covering is a bitch.
Looks like its time to get short again.
Geithner is telling the EU the USA will help them kick the can down the road until Nov 2012
Bet on it
Yields have collapsed over the past week. Italian and Spanish bonds are now yielding below 6%. The moves have been breathtaking. Short covering is a bitch.
Looks like its time to get short again.
Geithner is telling the EU the USA will help them kick the can down the road until Nov 2012
Bet on it
Do you understand the problem at all?
Its not possible for europe to simply kick the can down the road any more.
Besides, Geithner is pushing for immediate remediation so that europe isnt a drag on the world economy.
Why would Obama want european uncertainty hanging over the financial sector to last until his election?
Your stereotypical image of obama, in which he just delays problems, certainly seems at odds with your other stereotype of obama, in which he just wants to be reelected.
Either that or you dont understand the nature of the euro crisis, which is pretty certain by now.
European nations could be penalized by being stripped of some powers if they fail to manage their budgets, according to a memo from European Commission President Herman Van Rompuy leaked Tuesday.
The confidential memo, sent out to leaders ahead of the final European Council meeting of the year at the end of the week, comes only a day after the leaders of Germany and France agreed in Paris on a new fiscal pact they say will help prevent another debt crisis.
But Van Rompuy's proposals, details of which were obtained by CNN, are perhaps even stricter than those of German Chancellor Angela Merkel and French President Nicolas Sarkozy.
The five-page memo proposes that the European Commission could perhaps be given the right to strip voting rights within the European Union from some countries who have been bailed out but are still not meeting their deficit targets
For "member states that are under an assistance program and have consistently failed to meet the conditionality, the (European) Commission could receive exceptional power such as ex-ante approval of all major economic reforms," the document says.
If greek was such a massive spender, why did it spend less than the countries that are in very good shape?
The problem in Greece is corruption, people that don’t pay their taxes. Their is a large black market that don’t pay taxes. Italy has the same problem, a large black market where people don’t pay taxes. Southern europe is prette much like mexico with large black markets that don’t pay taxes.
Germany has fewer companies than Italy but Germany has a much higher population. The problem is to many small company owners that don’t pay their taxes in Southern Europe. And large black markets. In northern europe you don’t have the large black markets that don’t pay taxes. That way the governments get their tax income.
