Credit Writedowns » protectionism

Running through Italian default scenarios

Edward Harrison — Tue, 15 Nov 2011 15:30:47 +0000

The most important debate of our lifetimes is now ongoing. The question: Should the ECB “write the check’ for the euro area national governments? In thinking about the answer to this all-important question, I prefer to shift the focus by changing the verb “should” to “will”. Answering this slightly different question is much more important than answering the first question for you as an investor, a business person and as a worker. If the ECB writes the check, the economic and market outcomes are vastly different than if they do not. Your personal outlook as an investor, business person or worker will change dramatically based upon this one policy choice. The right question to ask then is: Will the ECB “write the check’ for the euro area national governments

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Running through Italian default scenarios originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

On Eurobonds and Italian default 15 Aug 2011
Handicapping European End Game Scenarios 17 Dec 2010
Is Italy running out of money? 2 Aug 2011

Expect a lot more trade intervention

Michael Pettis — Wed, 02 Nov 2011 12:30:49 +0000

The currency may well be undervalued, but a significant rise in the RMB, especially if it is countered domestically by an increase in credit at lower real rates, might actually make the global imbalances worse and, more worryingly, cause China’s debt burden and capital misallocation to rise. This would make China’s eventual adjustment far more difficult. The focus should be on shifting China’s economy towards the more labor-intensive and efficient sectors, and an appreciating RMB might actually make things worse, especially if it encourages hot money inflow. It is much better, I think, for China to raise interest rates than to raise the value of the

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Expect a lot more trade intervention originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

ECB Intervention Unlikely 20 May 2010
Should we expect a protectionist China? 19 Jun 2009
The BoJ’s Intervention Treat 31 Oct 2011

Stephen Roach on America’s other 87 deficits

Edward Harrison — Fri, 28 Oct 2011 20:00:32 +0000

Here are a few excerpts from Stephen Roach’s latest at Project Syndicate

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Stephen Roach on America’s other 87 deficits originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

A conversation with Stephen Roach on Charlie Rose 27 Oct 2009
Stephen Roach is talking double dip again 1 Sep 2009
Stephen Roach: QE represents ‘what got us into the mess’ 9 Nov 2010

Pippa Malmgren on the Republican Presidential Debate

Edward Harrison — Wed, 12 Oct 2011 17:21:38 +0000

Former George W. Bush official Pippa Malmgren does a good analysis for Bloomberg of the issues important to voters and how they will play in this year's presidential election

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Pippa Malmgren on the Republican Presidential Debate originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Heavy early voting in US Presidential election 23 Oct 2008
Presidential debates crucial in test of economic leadership 18 Sep 2008
Mark Hulbert: The Market Has Risen Every Third Year of a Presidential Cycle Since 1932 5 Jan 2011

Who is winning the currency wars?

Edward Harrison — Fri, 07 Oct 2011 15:00:57 +0000

Judging from this chart drawn up by the Financial Times, it would seem that Turkey is winning the currency wars and China is losing them

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Who is winning the currency wars? originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Currency Wars To Be Feared—Not Celebrated 7 Oct 2010
Speculating on Quantitative Currency Wars 2 Nov 2010
BBC: Why you should care about the ‘currency wars’ 10 Nov 2010

China currency bill is about US politics, not trade

Edward Harrison — Wed, 05 Oct 2011 19:48:24 +0000

Below is a video of my appearance on RT International last night discussing the recent bill to authorise sanctions against the Chinese for currency manipulation. I see this bill as all about the politics and little about the economics

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
China currency bill is about US politics, not trade originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

China Bill: Huff, Puff and Bluff 5 Oct 2011
Color on the Currency Reform for Fair Trade Act 27 Sep 2010
More on China, Trade and Protectionism 11 Jun 2010

China Bill: Huff, Puff and Bluff

Marc Chandler — Wed, 05 Oct 2011 19:00:55 +0000

US national elections are 13 months away and not coincidentally, the Congress is looking at a new measures to encourage China to re-value the yuan. While there is little doubt that the yuan in under-valued, though reasonable people may differ on the magnitude, politics more than economics appears to be the driving force

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
China Bill: Huff, Puff and Bluff originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

A few thoughts about China and their bluff on treasuries 14 Mar 2009
More on My Interview with Former President Bill Clinton 22 Sep 2010
Why Made in China Costs More in China 4 Sep 2011

1930

Edward Harrison — Mon, 03 Oct 2011 17:00:24 +0000

An excerpt from "The World In Depression" by Charles P. Kindleberger

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
1930 originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Herbert Hoover: 1930 Annual Message to the Congress on the State of the Union 14 Sep 2011
News from 1930: Bank closings and stimulus packages 23 Dec 2009
News from 17 November 1930: “we face a winter of hunger and distress” 17 Nov 2009

China will retaliate if US imposes sanctions

Edward Harrison — Mon, 03 Oct 2011 13:54:01 +0000

Professor Professor Xiang Songzuo from the Centre for International Monetary Research at Renmin University in Beijing told the BBC yesterday there would definitely be retaliation if the US moves to sanctions against China. If this scenario occurs, wouldn’t this be similar to the trade dynamic from the 1930s

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
China will retaliate if US imposes sanctions originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Tariffs: Other industries may line up for sanctions against China 14 Sep 2009
Why Made in China Costs More in China 4 Sep 2011

Some predictions for the rest of the decade

Michael Pettis — Sun, 28 Aug 2011 22:30:55 +0000

Markets have been crazy this month, but rather than try to wade through all the news, much of which doesn’t seem to have much informational content, I thought I would duck out altogether and instead make a list of things I expect will happen over the next several years

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Some predictions for the rest of the decade originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Forexblog – Q&A on Macroeonomics, FX and all the Rest of It 10 Jun 2010
Another look at my 2008 predictions 8 Oct 2008
China: reflation play spells trouble for rest of the world 3 Nov 2009

Debt is the Problem and Private Debt is Even More of a Problem

Comstock Partners — Fri, 26 Aug 2011 11:55:47 +0000

Comstock Partnrs writes that its fund is currently positioned to benefit from a declining stock market. This bearishness is mostly due to the enormous debt built up over the last few decades (total debt-including private debt-- was $11 trillion in 1984 and grew by over $40 trillion to over $52 trillion today). Of that $40 trillion increase over 27 years, $26 trillion came in the last decade

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Debt is the Problem and Private Debt is Even More of a Problem originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Debt Problem Grave, But Solution Elusive 1 Apr 2011
Steve Keen on a Double Dip and Private Debt 26 May 2011
On private debt 18 Aug 2011

Without changes to reserve currencies another crisis is inevitable

Edward Harrison — Thu, 14 Apr 2011 16:00:28 +0000

We saw that Joseph Stiglitz proposes a new reserve currency to alleviate pressure on trade imbalances. Michael Pettis is now also proposing a similar move away from the U.S. dollar. In an FT Op-Ed, Michael wrote that every generation we hear warnings that the dollar's dominance will wane. In his view, these warnings have intensified of late. The reality is that the US dollar's reserve currency status is a 'public good that comes with a cost'. And the cost is debt accumulation in net importing countries along with trade imbalances that becoming a lightening rod for economic nationalism and protectionism. He recommends the US take the lead in moving to a multi-currency world. I support this recommendation and believe that another crisis is inevitable if we do not move in this direction

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Without changes to reserve currencies another crisis is inevitable originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

The Fiat Currencies Are Headed into Crisis 5 Oct 2010
An Unusual But Interesting Argument Which May Help To Understand Why QE2 Is Now Almost Inevitable 16 Oct 2010
Stiglitz proposes new reserve currency 10 Apr 2011

Currency manipulation

Michael Pettis — Sat, 05 Feb 2011 13:30:00 +0000

By Michael Pettis On Friday the US Treasury released its presumably semi-annual (it was due last October) report to Congress on currency issues, and in it refrained from calling any of the countries under review “currency manipulators.” Today’s People’s Daily had this to say : Major trading partners of the United States, including China, did

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Currency manipulation originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Foreclosures, Manipulation, QE and Other Links, Oh My 14 Oct 2010
First the rate reductions, then money printing, then the currency war, then the tariffs, then…. 6 Oct 2010
The Currency Trilemma 8 Oct 2010

China as the Bad Guy?

Edward Harrison — Tue, 18 Jan 2011 22:00:42 +0000

In anticipation of the state visit by Chinese Leader Hu Jintao, I spoke about the pressure on US politicians to do something about the Chinese currency problem with RT America’s Alyona Minkovski on the Alyona Show last night. The video is below. My take here is that the pressure on Obama to do something, anything

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
China as the Bad Guy? originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Ahead of G-20, China blames west and west blames China for meltdown 17 Sep 2009
Krugman: China is ‘Really the Bad Guy’ in Currency War 14 Oct 2010
China: It’s About Hu not Yuan 11 Jun 2010

Wait for the next crisis for reform of the monetary system

Edward Harrison — Thu, 16 Dec 2010 01:45:59 +0000

There has been a lot of chatter of late about countries ditching the US dollar as the primary reserve currency and moving on to something else. Robert Zoellick mentioned gold as the alternative. Nicolas Sarkozy has been talking up special drawing rights and the Russians and the Chinese recently decided to open an exchange to

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Wait for the next crisis for reform of the monetary system originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

QE3: A plan to stabilize the global monetary system 4 Aug 2010
Color on the Currency Reform for Fair Trade Act 27 Sep 2010
Putting the shadow banking system back in vogue 9 Mar 2009

Brazil: we expect to see a continuation of the currency war in coming months

Edward Harrison — Thu, 09 Dec 2010 21:53:47 +0000

The Brazilian finance minister Guido Mantega continues to worry about the flood of money coming from Europe and the US and has said Brazil will take more steps to defend its currency. Mr. Mantega was quoted saying "With the situation in Europe under stress, we expect to see a continuation of the currency war in

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Brazil: we expect to see a continuation of the currency war in coming months originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

What to Expect from the COFER Data On The Currency Composition of Reserves 29 Jun 2010
Brazil: “We’re in the midst of an international currency war” 27 Sep 2010
Win Thin: More On Brazil And Korea Currency Controls 5 Oct 2010

Gross: ‘The global economy is suffering from a lack of aggregate demand’

Edward Harrison — Wed, 01 Dec 2010 13:54:44 +0000

The debt overhang in the developed world has lowered aggregate demand globally. As developed economies compete over a dwinding pie by moving toward a policy of economic nationalism, investment opportunities will dwindle. Bill Gross advises looking to the emerging economies instead

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Gross: ‘The global economy is suffering from a lack of aggregate demand’ originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Jim O’Neill on the Global Economy 9 Jan 2009
The bearish argument for the global economy 14 Feb 2009
The Global Economy – Old Maids Who Won’t Play Anymore 6 Sep 2010

Krugman, China and the role of finance

Michael Hudson — Mon, 22 Nov 2010 21:35:42 +0000

by Michael Hudson Here’s the quandary that the U.S. economy is in: The Fed’s quantitative easing policy– creating more liquidity so that banks can lend more – aims at helping the economy “borrow its way out of debt.” But banks are not lending more, for the simple reason that a third of U.S. real estate

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Krugman, China and the role of finance originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Krugman: China is ‘Really the Bad Guy’ in Currency War 14 Oct 2010
Krugman: We Need $8-10 Trillion Worth of Quantitative Easing 13 Oct 2010
Roach: I think we should take the baseball bat out on Paul Krugman 19 Mar 2010

Dollar War in Detail

Michael Hudson — Sat, 20 Nov 2010 23:30:57 +0000

Eric Janszen, Interview with Dr. Michael Hudson 6 November, 2010 Janszen (E): What I’m noting, starting with the gold crisis over the last few weeks, and the public nature of some of the complaints that we’re hearing out of Brazil and China and the front page of the Financial Times, we seem to be heading

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Dollar War in Detail originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts No related posts.

China Curbs Shouldn’t Derail CNY Appreciation

Win Thin — Tue, 09 Nov 2010 16:40:20 +0000

by Win Thin China took more efforts aimed at “further curbing inflows” with measures designed to “maintain China’s economic and financial security.” The measures appear to be relatively mild, but like Brazil, China may end up tightening controls further as needed to meet their FX goals. FX regulator SAFE announced new rules on currency provisioning

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
China Curbs Shouldn’t Derail CNY Appreciation originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Graph of the Day: Annual RMB Export Growth vs. RMB-USD Appreciation 25 Oct 2010
Ahead of G-20, China blames west and west blames China for meltdown 17 Sep 2009

Graph of the Day: Annual RMB Export Growth vs. RMB-USD Appreciation

Edward Harrison — Mon, 25 Oct 2010 17:30:21 +0000

This graph comes via the Council on Foreign Relations (hat tip James Fallows). The Chinese were implementing a gradual revaluation before the credit crisis. They stopped revaluing their currency versus the USD in 2008. And immediately two things happened. Household spending growth plummeted Exports surged The question for everyone is whether this is currency

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Graph of the Day: Annual RMB Export Growth vs. RMB-USD Appreciation originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Scotia Bank: Canadian dollar strength “driven by U.S. efforts to export its years of profligacy” 14 Oct 2010
China: Growth on track but at what cost? 20 Jul 2009

An Unusual But Interesting Argument Which May Help To Understand Why QE2 Is Now Almost Inevitable

Edward Hugh — Sat, 16 Oct 2010 21:24:00 +0000

by Edward Hugh For reasons which aren’t worth going into now, I’m reading through a recent report by Deutsche Bank Global Markets Research entitled “From The Golden To The Grey Age” this afternoon. The report (all 100 pages of it, many thanks to researchers Jim Reid and Nick Burns who produced the thing) looks at

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
An Unusual But Interesting Argument Which May Help To Understand Why QE2 Is Now Almost Inevitable originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Understand the Fed’s balance sheet 26 Oct 2009
Bernanke doesn’t understand the basic economics of central banking 19 Dec 2009

The US dollar decline is symptomatic of China’s investment bubble

Marshall Auerback — Thu, 14 Oct 2010 20:30:00 +0000

There hasn’t actually been any "QE". You’ve simply had the promise of QE2 and some attempts within the market to front run the actual implementation of the policy. In reality, QE per se has nothing to do with the dollar move, which has two components. One is traders and money managers and trend followers piling

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
The US dollar decline is symptomatic of China’s investment bubble originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Goldman forecasts US dollar set for sharp decline: $1.85 to sterling, $1.55 to the euro 7 Oct 2010
The Chinese bubble economy 11 Jan 2010
China’s bubble has popped 22 Apr 2008

Scotia Bank: Canadian dollar strength “driven by U.S. efforts to export its years of profligacy”

Edward Harrison — Thu, 14 Oct 2010 20:15:26 +0000

I think it’s fair to characterize the situation with the Fed’s Quantitative Easing Open Mouth Operations as somewhat out of control. Fears of a disorderly decline in the US dollar are certainly increasing. If anything, the US dollar is oversold right now as Marc Chandler pointed out this morning. Moreover, I think QE is a

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Scotia Bank: Canadian dollar strength “driven by U.S. efforts to export its years of profligacy” originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Dollar strength is an illusion 24 Oct 2008
How much longer for dollar strength? 5 Dec 2008
Dollar Little Changed, but Sterling and Swiss Franc Strength 1 Apr 2010

Tim Geithner on Charlie Rose in his own words regarding China

Edward Harrison — Thu, 14 Oct 2010 16:27:14 +0000

US Treasury Secretary Tim Geithner was on Charlie Rose the day before yesterday explaining his position on alleged "currency manipulation" by the Chinese. This quote stands out as defining his position: What’s happening is, as China holds its currency down, their currencies are moving up and they’re having to work very hard to make sure

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Tim Geithner on Charlie Rose in his own words regarding China originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Tim Geithner on Charlie Rose 11 Mar 2009
Timothy Geithner on Charlie Rose 8 May 2009
A conversation with Stephen Roach on Charlie Rose 27 Oct 2009

Xin Fa’an: A modest proposal to resolve the coming trade war

Michael Pettis — Thu, 14 Oct 2010 12:35:25 +0000

Earlier this week I had a debate on TV with a local economist on the subject of trade relations. We had the same debate about six and twelve months ago and in each case while I argued that the trade problems were almost intractable and trade relations would inexorably deteriorate, he both times acknowledged that

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Xin Fa’an: A modest proposal to resolve the coming trade war originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

More on China, Trade and Protectionism 11 Jun 2010
On China, Protectionism and Trade and Other Links 11 Jun 2010
Color on the Currency Reform for Fair Trade Act 27 Sep 2010

Krugman: China is ‘Really the Bad Guy’ in Currency War

Edward Harrison — Thu, 14 Oct 2010 12:21:13 +0000

The U.S. Senate will pass legislation geared to pressuring China to revalue its currency and the US is set to label China a currency manipulator. The view in Washington ahead of the mid-terms is that China is "the bad guy" as Paul Krugman explains in the video below. Here is a synopsis of the Krugman

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Krugman: China is ‘Really the Bad Guy’ in Currency War originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

This is the problem with China’s currency peg 18 Mar 2010
Euro Aided By Constitutional Court and Rumors on China Currency Move 10 Jun 2010
Roach: I think we should take the baseball bat out on Paul Krugman 19 Mar 2010

No White Flag in this Currency War

Annaly Salvos — Tue, 12 Oct 2010 21:30:28 +0000

by Annaly Capital Management In recent weeks, the Plaza Accord has been receiving a lot of attention, particularly after the IMF’s annual meeting in Washington concluded without making any progress on currency issues. If you recall, the Plaza Accord is the popular name given to an agreement struck in September 1985 by the world’s finance

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
No White Flag in this Currency War originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Greece Raises the White Flag 23 Apr 2010
More on the currency war and other links 6 Oct 2010
Currency battle begins 19 Mar 2010

The Folly of Competitive Currency Devaluations

Casey Research — Tue, 12 Oct 2010 01:30:58 +0000

By David Galland During our just-concluded Casey’s Gold & Resource Summit, Doug Casey spoke out about the folly that central bankers commit when they set out to deliberately weaken their currencies in the hope of gaining an advantage for their export goods and, therefore, for their economy. I dropped Doug a note asking him to

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
The Folly of Competitive Currency Devaluations originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

More on Competitive Currency Devaluations 24 Jun 2010
Twenty-first century competitive currency devaluations 23 Apr 2010
Iceland and the wonders of competitive currency devaluation 26 Jul 2009

My thoughts on the ‘currency war’

Edward Harrison — Mon, 11 Oct 2010 16:24:02 +0000

I spoke to the Russian TV broadcaster Russia Today and the popular Indian website DNA India late last week about the escalating rhetoric surrounding the forex market. The video from RT is not available yet but the link to the DNA post is right below. Let me summarize my view. I believe the developed economies

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
My thoughts on the ‘currency war’ originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

More thoughts on the switch from dollars as reserve currency 24 Mar 2009
Currency battle begins 19 Mar 2010
More Thoughts on Switzerland and Why the Euro is Not Lower 8 Jun 2010

Currency Wars: A View from the Trenches

Marc Chandler — Sun, 10 Oct 2010 08:00:16 +0000

From the Friday BBH FX Special. Also see Win Thin’s Thursday comments on this here. Recent weeks have seen much talk about "currency wars". This talk suggests that many countries are seeking the devaluation of their currencies in order to promote their exports, which in turn forces other countries to respond with similar efforts. It

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Currency Wars: A View from the Trenches originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Currency Wars To Be Feared—Not Celebrated 7 Oct 2010
BBH Currency View: Consolidative Tone Emerges 30 Mar 2010
Chart Wars 12 Feb 2010

EM Real Effective Exchange Rates Hardly the Stuff of Competitive Devaluation

Marc Chandler — Fri, 08 Oct 2010 02:00:11 +0000

by Win Thin With all this talk about currency wars, several points need to be made. The most important one that we have been stressing is that EM currencies are stronger now than they were a year ago, hardly the stuff of competitive devaluation. Yes, many policy-makers are trying to limit currency strength but moves

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
EM Real Effective Exchange Rates Hardly the Stuff of Competitive Devaluation originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Iceland and the wonders of competitive currency devaluation 26 Jul 2009
Geithner: “Market-oriented exchange rates in line with economic fundamentals will be essential” 12 Nov 2009
Twenty-first century competitive currency devaluations 23 Apr 2010

Currency Wars To Be Feared—Not Celebrated

Comstock Partners — Fri, 08 Oct 2010 01:00:08 +0000

by Comstock Partners On Tuesday the market soared on the grounds that global efforts to engage in another round of monetary ease and devalue currencies would boost economies around the world. We think that the market’s initial reaction is a wrong-footed move that will soon be reversed upon further reflection. What we are actually facing

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Currency Wars To Be Feared—Not Celebrated originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Chart Wars 12 Feb 2010
How a financial crisis morphs into a currency war 5 Oct 2010
“Out-and-Out Currency War from All Sides” And Other Links 5 Oct 2010

Stiglitz on the Fed: “The flood of liquidity is going abroad and causing problems all over the world”

Edward Harrison — Thu, 07 Oct 2010 23:25:26 +0000

(video embedded below) See Stiglitz’s written remarks here: Source: Joseph Stiglitz – The Federal Reserve’s Relevance Test – Project Syndicate Related Posts Galbraith, Stiglitz and Soros on resisting the inevitability of the Greek debt crisis 10 Apr 2010 If the Fed is looking to inflate away problems, what should Asia do? 10 Nov

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Stiglitz on the Fed: “The flood of liquidity is going abroad and causing problems all over the world” originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Galbraith, Stiglitz and Soros on resisting the inevitability of the Greek debt crisis 10 Apr 2010
If the Fed is looking to inflate away problems, what should Asia do? 10 Nov 2009
Liquidity trap of a different sort 22 Apr 2008

Chinese credit expansion has no place to put its money

Marshall Auerback — Thu, 07 Oct 2010 19:15:35 +0000

In regards to Ed’s last post on China and trade, the position of Michael Pettis is much closer to mine (and Martin Wolf’s, which he expressed yesterday in the FT). The quote of Pettis that Ed cites does not invalidate my position at all: So after years of dragging its feet, postponing a rebalancing, and

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Chinese credit expansion has no place to put its money originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Greece is the time, is the place, is the motion 8 Apr 2010
Chinese consumption and the Japanese “sorpasso” 11 Aug 2010
Chinese tariffs of up to 25 percent on Russian and American steel 10 Dec 2009