For example, Charles I of England. There is no doubt that cash has been good to hold over the past year, US dollars and yen especially as everyone squared their accounts.
But Morgan Stanley doesn’t believe in deflation, and neither do I.
Although headline prices likely will decline sharply in coming months, underlying inflation over [...]
Roubini is arguing that China is seeing a sharp slowdown in exports to the US.
Chinese officials have started to express serious concerns about the current sharp slowdown in Chinese exports to the US, from an annualized growth rate of over 20% in Q1 to a rate of 12.4% in Q3 of this year (”If demand [...]
Slit your wrists stuff from Roubini (below the fold)… a Wall of Worry? Looking at the news of Dubai’s investment in Citibank this morning I can’t help thinking that if the Middle East and China keep stepping up to provide new Tier 1 risk capital to Western banks in order to keep the US economy [...]
A piece yesterday from Roubini cites a piece from Bloomberg, citing research reports from Royal Bank and Citi which lay out major bank exposure to structured credit instruments; and it is not good. What is truly amazing is the size of these heretofore off-balance-sheet liabilities relative to banks’ equity; and the apparent unanimity of money [...]