Moody's has lowered its outlook on Germany, The Netherlands, and Luxembourg to Negative, while affirming Finland's Stable outlook and AAA credit rating. The ratings agency cites the usual fears related to the eurozone's debt crisis, along with the "increasing likelihood that greater collective support" will be needed for Spain and Italy. Moody's downgraded Italy's rating by two notches earlier this month, and subsequently downgraded 10 Italian banks. [View news story]
The credit rating agencies are always behind the curve. German and French credit-default swaps have been inching up for some time.
It's game over for Europe, absent significant belt-tightening in the periphery beyond anything we've seen thus far. If they can see things through to other size, the Continent will emerge as much more globally competitive and far ahead of the US on the economic reform curve.
Very interesting chart - especially the last one. It's interesting how much sharper the current drop is compared to the more gradual decline in witholdings that preceded the 2008 downturn. What we're seeing now looks like a nosedive by comparison.
The U.K. Is Emerging as Europe's Safe Haven [View article]
I'll take a closer look at Lloyds - I certainly haven't heard as much bad news about them as I have about Barclays. You know, in the little time I've had to research this, I've seen surprisingly few heavily-Brit-exposed ADRs and ETFs. Happy to get more recommendations on US-traded instruments that provide good UK exposure.
Another plus for the UK is that it still has its own currency and can conduct monetary and other economic policy with a lot more independence than European countries in the eurozone. The pound sterling trades freely.
The Case for Africa in Your Portfolio [View article]
Very interesting article, Mr. Roach. It's just common sense to take a look at Africa as one of the last (relatively) undiscovered investment frontiers.
Aside from South Africa, where do you find areas with the greatest potential to develop the highest concentrations of human capital (high-tech talent)?
S&P Downgrades U.S. Outlook to Negative [View article]
S&P is typically late in catching up to unpleasant realities, which makes this downgrade warning especially worrisome. We might be closer to a crisis than many think.
The credit-defualt swap market, where people essentially speculate on the likelihood of sovereign and corporate default, has has been flashing warning signs for some time. IS credit-default swaps are up today, along with Greece (which is way up), Portgual, Spain and Italy: cma.cmail4.com/t/y/l/z.../
Brace your portfolios. More background:
Iceberg Ahead: Fate of the U.S.$ Titanic Sealed by Last Week's Budget Deal Apr 14, 2011 seekingalpha.com/artic...
Seeking Alpha as a Predictor of Stock Movements and Earnings Surprises [View article]
Excellent work that affirms what a lot of us feel about the value added provided by crowdsourcing versus the mainstream media -- and the value and power of free markets in general. I'm guessing F.A. Hayek would've loved this study.
Iceberg Ahead: Fate of the U.S. Dollar Titanic Sealed by Last Week's Budget Deal [View article]
This is a very good point -- the U.S. needs to improve its business climate, and generate growth the old fashioned way (by earning it), but the two problems are related and joined at the hip. Government excess, mismanagement and corruption at all levels has worsened the US business climate:
Moody's has lowered its outlook on Germany, The Netherlands, and Luxembourg to Negative, while affirming Finland's Stable outlook and AAA credit rating. The ratings agency cites the usual fears related to the eurozone's debt crisis, along with the "increasing likelihood that greater collective support" will be needed for Spain and Italy. Moody's downgraded Italy's rating by two notches earlier this month, and subsequently downgraded 10 Italian banks. [View news story]
It's game over for Europe, absent significant belt-tightening in the periphery beyond anything we've seen thus far. If they can see things through to other size, the Continent will emerge as much more globally competitive and far ahead of the US on the economic reform curve.
Sharp Decline In Withholding Tax Receipts Signals Imminent Recession [View article]
That's ominous.
Curb Your Enthusiasm: Closer Look Shows Evaporating Job Growth [View article]
Employment Report Triggers Confusion, Masks Weakness [View article]
http://seekingalpha.co...
Not good.
The U.K. Is Emerging as Europe's Safe Haven [View article]
Buy Britain (Even Amid the Riots) [View article]
Another plus for the UK is that it still has its own currency and can conduct monetary and other economic policy with a lot more independence than European countries in the eurozone. The pound sterling trades freely.
The Case for Africa in Your Portfolio [View article]
Aside from South Africa, where do you find areas with the greatest potential to develop the highest concentrations of human capital (high-tech talent)?
S&P Downgrades U.S. Outlook to Negative [View article]
The credit-defualt swap market, where people essentially speculate on the likelihood of sovereign and corporate default, has has been flashing warning signs for some time. IS credit-default swaps are up today, along with Greece (which is way up), Portgual, Spain and Italy: cma.cmail4.com/t/y/l/z.../
Brace your portfolios. More background:
Iceberg Ahead: Fate of the U.S.$ Titanic Sealed by Last Week's Budget Deal
Apr 14, 2011
seekingalpha.com/artic...
The West's Borrowing Binge Approaches Its Endgame
on Dec 09, 2010
seekingalpha.com/artic...
Why Bernanke Is Dead Wrong, And What It Means for Investors
on Nov 21, 2010
seekingalpha.com/artic...
6 Reasons Why a Dollar Crisis Is Imminent
on Sep 27, 2010
seekingalpha.com/artic...
Is Uncle Sam's Credit Card About to Be Taken Away?
on Mar 25, 2010
seekingalpha.com/artic...
Seeking Alpha as a Predictor of Stock Movements and Earnings Surprises [View article]
Iceberg Ahead: Fate of the U.S. Dollar Titanic Sealed by Last Week's Budget Deal [View article]
Iceberg Ahead: Fate of the U.S. Dollar Titanic Sealed by Last Week's Budget Deal [View article]
$352 Million....in paper cuts.
www.nationaljournal.co...
As we head for an iceberg, they didn't turn the wheel by an inch. They turned it by a micron, if that. These people are beneath contempt.
Seeking Alpha as a Predictor of Stock Movements and Earnings Surprises [View article]
Iceberg Ahead: Fate of the U.S. Dollar Titanic Sealed by Last Week's Budget Deal [View article]
Seeking Alpha as a Predictor of Stock Movements and Earnings Surprises [View article]
Iceberg Ahead: Fate of the U.S. Dollar Titanic Sealed by Last Week's Budget Deal [View article]
"It's The Business Climate, Stupid":
seekingalpha.com/artic...