Credit Writedowns

Andorra, a Tiny Tax Haven, Tries Openness - NYTimes.com Marginal Revolution: How to interpret Germany, again Marginal Revolution: Fessing up to previously incorrect beliefs Where I Believe that I was Most Wrong, Arnold Kling | EconLog |…

By Michael Pettis On August 8 Credit Suisse published a study they had commissioned by Professor Wang Xiaolu of the China Reform Foundation.  A lot of readers have asked on- and offline me to discuss this study in light of the entry I…

  I promised that the site would be making some changes in addition to the redesign. So the site will be undergoing some admin that will make it unavailable tonight sometime after 8PM EDT/12AM GMT (less than three hours from now).…

By Annaly Capital Management The “bond bubble” discussion in the mainstream media has become deafening lately. Some of the commentary has been thoughtful and interesting, but not all of it. Much of the bubble-watch has focused on asset…

Flaherty defends Irish policy after downgrade - National Post Among Democrats, economic pressures are changing tax-cut dynamics UK economy grows at fastest pace in nine years - Telegraph Muslims Give Obama Highest Job Approval; Mormons,…

From the BBH Currency Strategy Team Highlights The US dollar is mostly weaker vs. the majors but remains in very narrow trading ranges ahead of the weekend. EUR/USD is still having trouble moving above the 1.27 area, and is likely to…

In a recent FT Op-ed, entitled "Estonia’s recovery defies economists and academics", columnist John Dizard argued that "the “internal devaluation” policy, which means cuts in nominal costs such as wages and rents, was very…

By Jake Weber While it may be hard to believe, the housing market hasn’t been the worst-performing real estate sector in terms of price. The index for the Case-Shiller Composite-20 index for residential real estate peaked in July 2006, and…

By Doug Hornig of Casey Research This coming Friday and Saturday, the Federal Reserve Bank of Kansas City will sponsor its annual retreat in Jackson Hole, Wyoming. It’s a chance for Fed officials, foreign counterparts, and academic…

As the property markets in Spain, Ireland, and Britain have dried up, a mass of Eastern European immigrants specialized in the building industry have found themselves without a stable source of income. The decline in remittances back to…