Italy

Europe’s Further Confirmation(s)

By |2019-08-14T17:08:18-05:00August 14th, 2019|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

The key takeaway from Europe’s economic data dump today isn’t that the whole Continental economy is poised on the verge of recession, though that’s thrust of what’s being written about most. The reason is simple; this is all highly unexpected in the mainstream. Going by official accounts alone, there was never a hint of trouble [...]

Euro$ #4 Calls Off The Bond Rout, Even Though It Means Fiscal Situations Likely To Grow Worse Still

By |2019-04-05T16:11:09-05:00April 5th, 2019|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Critics of government debt, a group which really should include every taxpayer, like to point out how governments prefer to pay back that debt with hugely inflated currency. You don’t pay it off so much as inflate it away. Change the convertibility number for your local currency and, voila, a much more manageable credit profile [...]

Not Surprisingly, It Wasn’t Italy

By |2019-02-25T16:18:40-05:00February 25th, 2019|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

It’s so obscure now, I actually had to go back and reread what was going on there at the time. On May 29, the mainstream consensus was how Italian populists were screwing up Europe. Global bond markets were supposed to be selling off, massacred as global recovery took hold. Instead, worldwide the most liquid, safe [...]

Global Recession Risks Right Now

By |2019-02-06T11:41:30-05:00February 6th, 2019|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Germany is a tough one to get around. Argentina falls into a bad recession, you can get by believing that’s not particularly unusual or interesting. If its neighbor Brazil becomes shaky, you can still chalk it up to EM volatility. Italy is Europe’s perpetual basket case. China’s a little more difficult, but still that country [...]

Brazen About Italy, Just The Start

By |2019-01-31T17:26:39-05:00January 31st, 2019|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Even I’ve become numb over the years to some of the blatant mischaracterizations. Looking at any small positive number for whatever small economic account and declaring it the mark of a strong economy is standard procedure nowadays. But it’s the brazenness with which “they” are now attempting to discount the sudden reappearance of the minuses. [...]

It’s Not That There Might Be One, It’s That There Might Be Another One

By |2019-01-30T11:59:57-05:00January 30th, 2019|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

It was a tense exchange. When even politicians can sense that there’s trouble brewing, there really is trouble brewing. Typically the last to figure these things out, if parliamentarians are up in arms it already isn’t good, to put it mildly. Well, not quite the last to know, there are always central bankers faithfully pulling [...]

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