European Economy

A German tourist goes to a Greek hotel…. He gives the owner 100 Euros and asks for some room keys so he can take a look at them and see if he likes them. He leaves the 100 euros as a safety deposit…. The hotel owner gives him all the keys because he doesn’t evenContinue reading “European Economy”

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$GS screenshot on the most important economies for global markets.

Labor costs in GIIS.

Struggling countries in the eurozone – Italy, Ireland, Greece and Spain … Have been reducing labour costs steadily.

Hurricane Sandy impact compared with other cyclones.

Hurricane Sandy had an impact of around $40B…& ranks 3rd for damaging. in the picture its compared with other cyclones. Please feel free to comment.

Commodities volatility

Social unrest and revolt during the Arab spring led to a restricted N African supply of crude. Japan’s catastrophic quake halted her industrial production lines. These events created unprecedented volatility in the raw commodities industry, the volatility is set to continue through 2012 as more austere fiscal measures are adopted.

The ECB must stop the meltdown by buying GIIPS bonds

If the IMF is asked for funds from the EU, it won’t have enough resources for the rest of the worlds emerging markets if there is a contagion. The fiscal situation in the EU’s GIIPS countries is not good, but it’s not like they were jewels to begin with, they’ve battled these problems for decades,Continue reading “The ECB must stop the meltdown by buying GIIPS bonds”

Statistics in Greece is a combat sport

Elstat is Greece’s new independent statistics agency. Elstat has been commissioned by the European Commission to “clean up” the statistics, after decades of corruption and inadequacy by the Greek finance ministry. Yet, Elstat is now facing opposition in the form of an official criminal investigation by the Greek government for “inflating the scale of theContinue reading “Statistics in Greece is a combat sport”

EU Vassals.

One, politics in Europe are local, not “European.” Two, monetary, fiscal, and labor policy are at the core of the problems in the GIIPS. Third, The EU had better identify itself and make its presence known- finally. It is her “fight or flight” moment. The Entire EU hangs in the balance, and coupled with thatContinue reading “EU Vassals.”

Record Month For Bond Holders

Bond managers have recovered record profits in the past month. See attached charts, courtesy of Jpm:

Weakest Performing Financials (domestic & foreign)

No. Ticker % Change Industry 1 MKTG -20.71 FINANCIAL 2 ING -11.96 FINANCIAL 3 HMPR -10.18 FINANCIAL 4 AEG -8.82 FINANCIAL 5 DB -8.78 FINANCIAL 6 BCS -8.55 FINANCIAL 7 DGIT -8.53 FINANCIAL 8 RDN -8.53 FINANCIAL 9 OCN -8.25 FINANCIAL 10 HBC -8.04 FINANCIAL 11 CS -8.03 FINANCIAL 12 PNSN -7.76 FINANCIAL 13 LMLPContinue reading “Weakest Performing Financials (domestic & foreign)”