Death Star Economics



Monetary easing didn’t ease anything at all

And somehow we’re back to the doom and gloom of the European explosion. Christine Lagarde, portrayed as a leather-skinned barbie on Reuters’ front page since this morning (seriously, who chose this picture?!), has declared how worried she is, once again, about the state of the world economy. Her remarks come in response to the collective central banking action from yesterday, including rate cuts by the European, British and Chinese central banks. Probably just about as important were the rate cuts of the Kenyan and Danish central banks. Unimpressed by all of this, Spain’s borrowing costs keep rising. Fun fact on the side: both the FT and CNBC have interviewed Barclays people concerning the RATE CUTS. Pun intended?

Moreover: Finxit… just doesn’t sound right, does it? Finexit. Fiexit. Fixit. Fix it. No wait. So the Finish Minister of Finance Jutta Urpilainen said the country would rather leave the eurozone than pay everybody’s eternal debt. It’s not really a surprising thought, but it sure it politically incorrect, at least if you consider European dynamics. read article

And then there is the new found love between Russia and Cyprus: the latter said it may prefer the bailout terms from Moscow to those from Brussels/Washington. read article

Otherwise, after the recount of votes demanded by the candidate of the opposition, it is now reconfirmed that Enrique Pena Nieto won the Mexican presidential election last weekend.

Also, expectations are high and the outlook is mildly positive for the today’s US jobs data that will be released later. But there’s nothing like good news anymore these days, enter MarketBeat:

Just don’t confuse a slightly upbeat number with an actual good jobs report. The economy needs to add about 200,000 jobs just to keep up with population growth. Anything less indicates the recovery still has a long way to go before it can get back onto solid footing.

Weekend reading

– The end of the trading floor cultureread article

– Same topic different angle: banksters and the white collar hood, read article

– Superpowers, the end of an era and the US presidential election, read article

Have a good one.


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One Response

  1. princess1960 says:

    hello ..and thank you for your article (all) .
    -Brussels i don’t think something will change
    K LAGARD untill now she was out this planet ..or she like to say something (i am director IMF) and my word is imprtant)?
    Cyprus (because i know ligo-poli )is stange how needed help????
    CY+RUS allways have good relationship
    Mexsico new GV there needed rasical transfomation (drog+arme)
    unemployment US this is big problem …(i think small busnesses) is one very good .”.way ” we sAY ”small things’make big thing’s ….roc-roc make a castle..10 there 30 there 50 100 ,, =TAX ..GV have to use money for invest….. have to cut spend public sectore
    now…i have to read for weekend
    and i have to thinking for monday
    have agood 1+1+1= 3..
    BARBARA S…for relax ..

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