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This is a big story coming from the Swiss German-language paper Sonntagszeitung. I originally saw this story in a derivative report from MarketWatch and then again at Calculated Risk. It’s not getting enough play as yet in the English-language press, perhaps because no one has translated the full story.
The long and short here [...]

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PoliticsBush to Keep Pressing Iran, North Korea on Nuclear Programs – BloombergArgentina agricultural-export tax clears a hurdle – MarketWatchAmerican Energy Policy, Asleep at the Spigot – New York Times
EconomyWhat Safety Net? The Precarious Financial Lives of American Families – NY TimesRecession threat as UK jobs vanish – TelegraphUK plc faces bear market as [...]

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BankingThe Credit Crisis Is Going to Get Worse – WSJEuropean Banks May Need EU90 Billion, Goldman Says – BloombergUniCredit May Eliminate 2,500 Jobs at HVB, Euro am Sonntag Says – BloombergPost Wants EU10 Billion for Postbank, WirtschaftsWoche Says – BloombergTPG’s coldly calculated Bradford & Bingley move raises questions – TelegraphLogic [...]

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In the Wall Street Journal today, Ted Forstmann, of LBO giant Forstmann and Little fame, has warned that the credit crisis is far from over. Forstmann, who presciently called the bubble in High Yield ad LBO financing twenty years ago, is a voice of great repute, because of his familiarity with high leverage debt [...]

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This is a story about how the ECB move affects individuals. As much as I support the ECB rate hike, one has to remember that real people are very much affected by these policy decisions. This is what makes these decisions difficult.
From the Independent Ireland:

By Ben Sills and Fergal O’Brien
Friday July 04 2008

Jose [...]

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Recession worries at the heart of Europe deepened as it was revealed that factory orders in Germany declined unexpectedly for the sixth straight month. With inflation and interest rates rising, it seems rather unlikely that Germany can escape recession despite the lowest unemployment levels since reunification.
A recession in Germany would be a big blow [...]

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UBS has announced that it expects further massive hits from the credit crisis and subprime meltdown to affect its quarterly earnings to be released soon. However, after raising a huge amount of equity capital, the company is well-capitalised enough to weather the storm. They ned not raise further capital as their Tier 1 [...]

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I have said that the Fed is dovish and wants inflation to do its job of reducing the economic burden of the massive debt in the United States.
Fed Governor William Poole, who just recently left the Fed, has apparently confirmed this. See the blog immobilienblasen to read more.
This gives us yet more reason to understand [...]

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Monetary policy has never been so interesting. With price increases in food and energy causing upheaval around the globe, citizens of the world are crying out for policy makers to get a handle on inflation. Yet, the global banking system is on the verge of collapse as the worst credit crisis since the [...]

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Ontario’s economy shrank last quarter with GDP adjusted for inflation declining by 0.3%. With the largest economy in Canada in tatters, the mining boom in Alberta and BC is ever more important.
From the Globe & Mail:
Ontario’s economic growth dipped into negative territory during the three months ended March 31, putting Canada’s largest province well [...]