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Monthly Archives: February 2010

The cure for the US banking system

We will read about many proposals to improve the global banking system in the coming months. By improve, I mean make the system less prone to systemic collapse (I don’t mean more profitable). We’ll see many concepts. Some will have merit. The final solution will doubtless be labeled Basel 3 and involve some of the following concepts: More realistic (viewed as stiffer) rules on […] Read the rest of this entry »

German Head-Fake Causes Greek & EU Bond Melt-down

Indulge this for a moment…  Let’s say you’re German Chancellor Angela Merkel. The entire European Economic Community is putting pressure on you to lead a bailout of Greece because they don’t want contagion and they know you’ve got the pocketbook to pull it off. But you’re a little tired of non-stop handing money over to the rest of Europe since 1945 (especially the past 20 years), and […] Read the rest of this entry »

The PIIGS in the python (Greece will default first)

As I watch US & international stock and bond markets move over the past few days and weeks, it is clear that markets are schizophrenic. The only news that propels stock markets is further bailouts. Case in point, this article is about whether and when Greece will be bailed out. So this is what it has come to:bail outs of western democracies. We are […] Read the rest of this entry »

Target Date Funds are Reckless

I am quoted in the Wall St Journal today, criticizing Target Date Funds as reckless. The Wall St Journal has 2 articles on Target Date Funds in today’s paper. One is about how regulators are going to “crack down” on target date funds. To that I say well done. The horse has long since left the barn, but I’m sure your posturing will make […] Read the rest of this entry »

PIIGS & Unemployment “at work”

  What’s going on this week…   The 2 issues causing stock, bond, commodity, and currency markets to move : As you know, Europe has an issue called PIIGS (Portugal, Ireland, Greece, Italy, Spain). These countries have debt that is out of control (where we may be in a few years) and is causing tremendous angst in bond and equity markets. Greece is the […] Read the rest of this entry »