juin 2011
6 billets
1 tag
Eurozone Brinksmanship: Ministers Walk Back Greek... →
One of the interesting features of the seemingly unending Eurozone crisis is that the half life of rescue measures is decreasing.
The elephant in the room, which we will put aside to focus on the current state of play, is that everyone knows the Greek debts must be restructured. To have Greece pay out punitive rates on past debt will simply grind the economy into a deeper hole, worsening its...
1 tag
Why Fischer’s IMF candidacy is a non-starter →
The important difference of opinion with respect to organizing war production shaped up between Lt. Gen. Brehon Somervell, commander of Army Services Forces, and Simon Kuznets and his former student-turned-boss,Robert Nathan, at the civilian War Production Board.
Since 1924, the official plan if war broke out had been, first, put the military in charge of civilian production. But, as Lacey...
1 tag
Kept from All Thoughtful Men →
The important difference of opinion with respect to organizing war production shaped up between Lt. Gen. Brehon Somervell, commander of Army Services Forces, and Simon Kuznets and his former student-turned-boss,Robert Nathan, at the civilian War Production Board.
Since 1924, the official plan if war broke out had been, first, put the military in charge of civilian production. But, as Lacey...
1 tag
The vanishing sovereignty of Greece →
In other words, Greece’s economic sovereignty has already vanished. Unless Greece does what the Troika wants it to do to get its financial house in order, it will collapse and become Cuba by the Aegean. If the government does regain control of its finances, economic sovereignty and the national pride that goes with it will be restored.
Or maybe not, because the euro zone debt crisis has handed...
1 tag
Debtor's prison →
Economic history is filled with bouts of financial euphoria followed by painful mornings after. When nations awake saddled with debts incurred to finance wars, episodes of failed speculation, or grand projects that haven’t paid off, they have two choices. Either the creditor class prevails at the expense of everyone else, or governments find way to reduce the debt burden so athat the productive...
1 tag
A $4.2bn question for Sino-Forest Corporation →
Muddy Waters Research, a specialist in Chinese companies, on Thursday issued a blockbuster “strong sell” rating on Toronto-listed Sino-Forest Corporation, a self-described “commercial forest plantation operator in China”.
But this was no ordinary “sell” rating: Muddy Waters both initiated coverage on the forestry company, which listed in Canada via a reverse takeover in 1995, and accused it of...
