Economics Calendar

Not only was Italy pressured by ECB president Jean-Claude Trichet, so was Spain. Courtesy of Google Translate, El Pais reports Trichet Pressures Spain in Letter.The ECB makes recommendations to Spain in a less hard than Italy, in return for the purchase of debt.The announcement of...

Bloomberg reports Franc Weakens Against Dollar, Euro After Report Currency Target DiscussedThe franc weakened after SonntagsZeitung reported over the weekend that the Swiss government and the central bank are in “intense” talks over setting a possible target for the currency, citing unidentified people close to the situation.Talk is CheapOK, once you...

A New York Times article accurately describes a set of fiscal realities in Sunday's editorial A Growing Gloom for States and Cities. The New York Times wildly misses the mark as to who is to blame for this crisis.NYT: Washington should have been trying to find a way to help states avoid the layoffs and cutbacks that have contributed heavily to the...

In the realm of good (as well as deflationary) news You (YOU!) Can Take Stanford's 'Intro to AI' Course Next Quarter, For FreeStanford has been offering portions of its robotics coursework online for a few years now, but professors Sebastian Thrun and Peter Norvig are kicking things...

If you need proof that Spain cannot possibly stay within austerity limits mandated by the ECB, please consider the following Google Translation (modified by me for readability) of an article on El Pais: Defense Department Renegotiating a 26 Billion Debt it Cannot Afford to PayIf...

In an "eye for eye, tooth for tooth" retaliation to French farmers throwing Spanish produce in the streets, Spanish farmers have threatened to "look for French interests and cause the most damage possible."Courtesy of Google Translate and my friend "Bran" who emails nearly every...

I inadvertently deleted this post from earlier today. Here it is again.The Spanish economic implosion continues. Various austerity measure in Europe and rate hikes by ECB president Jean-Claude Trichet will make matters worse. Some town mayors readily admit bankruptcy. Others will follow.Please consider Spanish towns face funding crisis, rack up...

Thankfully, a US circuit court has upheld the rights of Donald Vance (a US Navy veteran) and Nathan Ertel, both US citizens, to sue former Defense Secretary Donald Rumsfeld for torture.The "crime" for which they were tortured: The pair accused an Iraqi firm of bribery and corruption.The punishment: The whistle-blowers were arrested, detained, tortured...

The Spanish economic implosion continues. Various austerity measure in Europe and rate hikes by ECB president Jean-Claude Trichet will make matters worse. Some town mayors readily admit bankruptcy. Others will follow.Please consider Spanish towns face funding crisis, rack up debtsIn this hillside town, topped by a medieval castle and surrounded by...

Clamoring for a complete Eurozone fiscal union reached a new high this week as UK Chancellor of the Exchequer George Osborne agrees with Italian Economy Minister Giulio Tremonti on the need for a fiscal union and common bonds to save the Euro.Please consider Italy calls for euro bonds as UK backs fiscal unionItalian Economy Minister Giulio Tremonti...

Real Clear Politics notes Unemployment Benefits Could Create Up To 1 Million Jobs"I understand why extending unemployment insurance provides relief to people who need it, but how does that create jobs," Wall Street Journal's Laura Meckler asked Jay Carney at Wednesday's WH briefing.Carney responded: "Oh, uh, it is by, uh, I would expect a reporter...

Recession loom everywhere you look. Let's look at France: French growth sputters to a halt in 2nd quarterThe French government was put under further pressure to cut deeper into spending after figures Friday showed growth in Europe's second biggest economy ground to a halt in the...

Today the Fed announced a series of meaningless small reverse-repo (monetary drain actions) to test the exit-policy soaking-up ability of the Fed down the road.I suggest the Fed's Statement Regarding Reverse Repurchase Agreements is meaningless given the amounts involved, the timing,...

Hyperinflationits have now blown it twice. First, they insisted hyperinflation would happen before deflation. They were wrong. Then, during the QE2 inspired equities and commodities ramp, they said the same thing. They were wrong again.Prior to the Great Financial Crisis I had a...