Risk Oooooaaaawwwn. Metals, Grains
ForeclosureGate to roll on. NYT
The Irish boondoggle. NYT
More capital for US banks. WSJ
US leading indicators up. Econompic
US retail sales. A trend beckons. Tim Duy
Slow China. Michael Pettis, FT
Boom. SMH
Tax cuts madness. The Age
Why don't we have whingers like this in exports? John Durie
Ore to become buyers market. Minmetals
But not yet. Baosteel
3 comments:
Risk on baby, risk on! Adam Carr will be painful today.
Why no export whingers? Well I do my best, but there's only five of us left now!
Reserve Bank of Australia says boom to run for 20 years. Ric "boom boom" Battellino via David Uren
Sound like anyone you know???
Ireland borrowed and spent itself into a financial crisis. Irish banks borrowed abroad and re-lent the money to Irish home buyers on the expectation that home prices would continue to climb. When the real estate market collapsed, borrowers crashed, the banks came tumbling after, and so did the rest of the economy. Sound familiar?
Why aren’t British and German bankers, and British and German regulators, taking some blame?
Ireland’s current fiscal problems are a result, not a cause, of the crisis. In the American case, foreign borrowing was due in large part to the Bush administration’s fiscal irresponsibility, while the Irish government budget was in surplus for a decade before the crisis hit. Private loans to private borrowers are at the root of the Irish crisis. The government was forced to step in to bail out the banks, and the current catastrophe is a result of the depth of the financial collapse, the cost of the bank bailout, and the deep recession into which the country has sunk.
http://www.nytimes.com/roomfordebate/2010/11/17/should-ireland-accept-a-bank-bailout/an-austere-future-ahead
great blog - cheers
Post a Comment