Taipei Times – CLSA strategist warns of long-term asset bubble
“A two-month global equity rally that has added US$8.8 trillion to stocks may continue in the short term as risk aversion declines and investors overreact to improving economic data, CLSA Ltd’s Christopher Wood said. In the longer term, buyers of US shares are likely to suffer [...]
Archive for May, 2009
Links: 2009-05-16
May
Sheila Bair talking to Bloomberg’s Al Hunt
May
Yesterday, I mentioned an e-mail from the FDIC clarifying statements on replacing bank executives by Chairperson Sheila Bair on Bloomberg’s “Political Capital with Al Hunt”. Below is the video which will allow you to see exactly what Sheila Bair has to say.
The video starts automatically. Enjoy.
Sources
Bair Says Some Bank Chiefs Will Be Replaced in [...]
Clarifying press inaccuracies to help clean up the banking system
May
Today, I came across two attempts to clarify allegedly misleading articles in the press. Both clarifications were made in regard to how the banking system clean-up in the U.S. is proceeding. I will present them to you in as neutral a tone as I can muster. However, I should say I am sceptical as to [...]
530 views
Insurance companies now feeding at the TARP trough
May
If you were operating under the illusion that the financial services industry was going to receive less in political favors from the Obama Administration, then you should take a look at this Tech Ticker video. Yesterday, the insurance industry got into the TARP program to the tune of $22 billion. What is interesting about [...]
Marc Faber on passing the baton to emerging economies
May
Marc Faber participated in a roundtable discussion on CNBC this morning about the dreadful figures coming out of Europe (see articles here and here).
At one point, the German CNBC correspondent made a very good comment about Eastern Europe getting killed by a falloff in internal demand due to a severe banking crisis and this being [...]
1,267 views
Links: 2009-05-15
May
FT.com / Lex – The eurozone’s terrible recession
“This has to be the worst of it. If it is not, then the eurozone’s prospects are grim indeed. The German economy shrank by 4 per cent in the first quarter compared to the last three months of 2008. That is far from the astonishing 11 per cent [...]
Bedtime reading: 2009-05-14
May
Swine flu vaccine won’t be ready for next wave – health – New Scientist
“A VACCINE against the Mexican swine flu sweeping the world is likely to arrive too late for most people, vaccine officials told New Scientist between a flurry of high-level industry meetings this week.”
Jealous female gorillas solicit unproductive sex – New Scientist
“Female gorillas [...]
Ireland gets deflation
May
For the time being, I am more worried abut the potential inflationary effects of quantitative easing than about the deflationary impact of deleveraging. But, the latest news from Ireland shows us that deflation is alive and well. This comes via the Irish Independent:
Consumer prices recorded a second annual drop in April as the cost of [...]
568 views
CNBC gives primer on counterparty credit default swap risk
May
This is a very good explanatory piece from CNBC on how counterparty credit risk makes the credit default swap market a financial weapon of mass destruction. Note they are not talking about eliminating the CDS market, but merely regulating and standardizing it to prevent a potentially catastrophic domino effect.
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A conversation with Elizabeth Warren on Charlie Rose
May
We needed regulators like this when the bubble was being formed. Elizabeth Warren is truly a breath of fresh air.
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