Post Tagged with: "Spain"

Notes From Underground: Four Central Bank Meetings, and, Oh Yeah, the Fiscal Cliff

Notes From Underground: Four Central Bank Meetings, and, Oh Yeah, the Fiscal Cliff

by / on 12/03/2012, 3:29 PM / in Today's Economy

The weekend news was rather sparse as the Greeks got their trust fund check from the overlords in Brussels. The Greeks need to be leery of Eurocrats bearing gifts. The Sunday news shows in the U.S. highlighted the vast chasm between Speaker Boehner and Secretary Geithner. There was finger-pointing all around about as to which group was holding up the […]

Read more ›
Notes From Underground: Rajoy’s Party Retains Power in Galicia

Notes From Underground: Rajoy’s Party Retains Power in Galicia

by / on 10/22/2012, 2:24 AM / in Today's Economy, Stock Market News

In what was a very slow new weekend the most significant story is that Spanish PM Rajoy’s political party held on to power in the PM’s home state of Galicia. This was considered to be an important test for Rajoy for if his support in his traditional support base had turned against him, there would be no chance that the […]

Read more ›
11th Managing Director of the International Monetary Fund

Notes From Underground: Christine Lagarde Is Quietly Raising Her Voice

by / on 10/15/2012, 1:54 AM / in Today's Economy, Stock Market News

The IMF took center stage during the last four days as its meeting in Tokyo became the central focus of the global macro world. As usual, the IMF communique promised much via the usual platitudes but as investors and traders we are left in the lurch as much is promised but no real substance is revealed. Probably the most important element […]

Read more ›
Poster used in the protests, "Not enough bread for so much chorizo (pork)", referring to political corruption.

Notes From Underground: A Question On Spanish Unemployment

by / on 10/04/2012, 1:32 PM / in Today's Economy, Platinum & Palladium News

Not Enough bread? A long time reader of the BLOG (hat tip, SM) called and posed an interesting question about the 25% unemployment rate to which the markets seem to continually refer. The reader has a friend whose son is living in Spain and maintains that the unemployment situation in Spain is not nearly as bad as economists say because of […]

Read more ›
Notes From Underground: Ok, Notes From Underground, Where 2+2=5

Notes From Underground: Ok, Notes From Underground, Where 2+2=5

by / on 10/03/2012, 6:26 PM / in Today's Economy, Stock Market News

Yra’s Back – This is a good one. For the almost three years that NOTES has been published, I tried to make it clear why the subtext of NFU was that 2+2=5. The idea of the math being so obviously incorrect was a direct reference from Dostoyevsky’s short story Notes From Underground in which the great Slav nationalist rails against […]

Read more ›
On June 28, 2011, Christine Lagarde was named Managing Director of the IMF, replacing Dominique Strauss-Kahn.

Notes From Underground: Devil With The Blue Suit On

by / on 09/25/2012, 1:47 AM / in Today's Economy, Stock Market News

In his regular Monday Financial Times column, Wolfgang Munchau takes full aim at Bundesbank President Jens Weidmann for trying to make ECB President Draghi the devil incarnate. Because Weidmann invoked the Faustian character, Mephistopheles, from German hero Goethe’s play Dr. Faustus, Munchau accuses the Bundesbank President of undermining the policies of the ECB. Weidmann is going directly to the German […]

Read more ›
Treasury Secretary Shultz (back row, fourth from left) with the rest of the Nixon cabinet, June 1972 
- Wikipedia. Wikimedia Foundation, n.d. Web. 23 Sept. 2012. .

Notes From Underground: The Significance of the WSJ OP-ED Piece … “Magnitude of the Mess We’re In”

by / on 09/24/2012, 1:49 AM / in Today's Economy, Stock Market News

A an op-ed piece in last weeks WSJ created a great deal of buzz in the financial media. Appearing a few days after the aggressive move by the FED, the opinion piece written by five eminent economists–George Schultz, Michael Boskin, John Cogan, Allan Meltzer and John B. Taylor–criticizes the Bernanke Fed’s QE policy from many different aspects. It is not the […]

Read more ›