As I have alerted earlier on this blog that the epicenter of a new financial storm is currently centered in PIIGS countries — specifically, Greece. The problem is simple — Greece borrowed heavily for Olympics related spending and other growth. About 30 Bil Euros of that debt is due or needs to be rolled over [...]
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Few people with vested interest in financial markets openly say things that are worth listening to. Mr. Mohamad El-Erian of Pimco is one of the few financial gurus with some integrity left. He is telling us to be cautious in financial markets. Why? You can read more on his thoughts at Bloomberg, “Mind the Gap.” [...]
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In the next few weeks we will be hearing a lot about sovereign debt crisis for Greece. Debt crisis is derivatives crisis. Derivatives are Greek — a lot of Greek! I found this simple chart at Zero-Hedge and it explains the ramifications in a decision tree, and in simple English.
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Two more Indian students have been assaulted in Melbourne, Australia. This is the latest in a series of attacks there targeting people from India.
A group of attackers allegedly made racist comments before kicking and punching the students on Monday.
One victim was taken to hospital and underwent surgery. Police have charged five men over the attacks, [...]
If you watched news in US for a long time, you probably have an idea when Tom Brokaw or Dan Rather tossed to the reported and how the reporter filed a report. They all have a standard template. A template that is perhaps cooked-up in some ‘reputed school of journalism.’ All these news reports look [...]
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It has been widely reported that Goldman Sachs got a sweet-heart deal from the bailout arm of the US Treasury, courtesy the then Treasury Secretary Paulson and the NY Fed Chairman, Tim Giethner. Tomorrow’s hearings on Capital Hill about AIG bailout has already shed a lot of light on the skeletons in Goldman’s closet.
I said [...]
[Via BBC]
Pakistan was ‘humiliated’ by exclusion in IPL:
A Pakistani parliamentary delegation has cancelled a visit to India amid a growing diplomatic row over the next Indian Premier League (IPL) tournament.
At an auction earlier this week no Pakistani players were chosen to play in the Twenty20 competition in March amid fears they may not get visas.
Ministers [...]
Banks, bonuses and bailouts – busted? Is this a new found spine for the President? Or, is it a reaction to the wake-up call he got from Massachusetts? Whatever it is, I don’t see the bank executives shivering in their boots.
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“The government advises Indian students studying in Australia, as well as those planning to study there, that they should take certain basic precautions in being alert to their own security while moving around,”
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Get ready to embrace being embarrassed more at airports. This news is via Financial Times (FT)
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Time wants us to believe that Bernanke saved us from melt-down, but I think time will tell us a completely different story: Bernanke’s cure is worse than the disease that was ignored even caused/spread by Greenspan’s Fed.
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