—- ¿quiebra griega en mayo.? GreeceWillDefaultinMayWithoutAnotherBailoutorChangeinTerms // Mish’s Global EconomicTrendAnalysis Cash flow analysis shows Greece is in serious trouble again in spite of having a current account surplus. Specifically, Greece needs a change in payback terms or another bailout or it will default in August, if not May. I use the words "will default" imprecisely. The only way Greece is making loan payments now is … Seguir leyendo Greece Will Default in May Without Another Bailout or Change in Terms

—- ConsumerConfidenceSlides, MissesByMostIn 8 Years // ZeroHedge Following December’s biggest-surge-in-4-years for UMich consumer confidence (though a miss), UMich data has fallen backto 80.4 – missingexpectationsbythebiggestmarginin 8 years. This is the 4th miss in the last 5 months as hope for moar multiple expansion begins to fade. Both current conditions and the outlook indices fell (for the first time sicne October). As UPSwouldsays, confidencedroppedbecausetherewastoomuchconfidence… Following Bernanke’s … Seguir leyendo Consumer Confidence Slides, Misses By Most In 8 Years

—- IMFWarnsThese 4 EuropeanNations Are "PotentiallyDestabilizing" To Global Economy // ZeroHedge Europe is recovering, right? Wrong. As NigelFarageragedlastnight, things are not what they seem and even the IMF is now beginning to get concerned again (especially after Lagarde’s call yesterday for moar from Draghi and every other central banker). As Bloomberg’s Niraj Shah notes, it’s not just the PIIGS we have to worry about (or … Seguir leyendo IMF Warns These 4 European Nations Are “Potentially Destabilizing” To Global Economy

—- ChineseStocksTumbleOnContagionConcernsFromFirstShadow–BankingDefault // ZeroHedge While manufacturing and services PMIs disappointed, the big problem in big China remains that of an out-of-control credit creation process that is blowing up. As wepreviouslynoted, instead of crushing credit creation, the PBOC’s liquidity rationing has forced distressed companies into high-interest-cost products in the shadow-banking world. Investors on the other side of "troubled shadow banking products" had assumed that ‘someone’ would … Seguir leyendo Chinese Stocks Tumble On Contagion Concerns From First Shadow-Banking Default

—- PhillyFedBeatsEven As New OrderDropToMay 2013 Levels, InventoriesTumble // ZeroHedge On the surface, the January Philly Fed was a beat, printing at 9.4 on expectations of a 8.7 number and up from a downward revised 6.4. However, the internals were hardly as pretty with the most notable, New Orders, plunging from 12.9 to 5.1, the lowest print since May 2013, and also the biggest three … Seguir leyendo Philly Fed Beats Even As New Order Drop To May 2013 Levels, Inventories Tumble

—- ArgentineStocksSoar As Black–Market Peso HitsRecordLow (Implies 40% Devaluation) // ZeroHedge Argentina is not Venezuela… yet. Following Maduro’s comments yesterday capping Venezuelan profit margins and making black-market FX transactions practically punishable by death (our exaggeration), the Argentine Peso is collapsing… *ARGENTINE PESO FALLS 2.9% INBLACKMARKETTORECORD 11.55/USD (Spot is 6.77 – implying a 41% devaluation! Of course, this is great news for stocks and the MERVAL … Seguir leyendo Argentine Stocks Soar As Black-Market Peso Hits Record Low (Implies 40% Devaluation)

—- Downward’sPricingTheoryin Post-KeynesianEconomics , Chapter 1 // Social Democracyforthe 21st Century: A Post KeynesianPerspective Paul Downward’s PricingTheoryin Post-KeynesianEconomics: A RealistApproach (Cheltenham, UK, 1999) is the second of two 1990s studies of Post Keynesian price theory. Frederic Lee’s Post KeynesianPriceTheory (Cambridge, 1998) was the first. I will provide a chapter by chapter summary of this book intheway I didforLee’sstudy (as can be readhere) In Chapter 1 … Seguir leyendo Downward’s Pricing Theory in Post-Keynesian Economics , Chapter 1

—- JapanUnveilsItsWorstCurrentAccountDeficitEver // ZeroHedge Any day, month, quarter, year, decade now; Goldman Sachs’ mythical J-Curve will arise from the cinder-strewn ashes of Japan’s current account. Japanese bond markets are rallying and JPY is weakening modestly after Abe’s increasingly disapproved-of government announced the worst balance ofpaymentscurrentaccountdeficitonrecord. At JPY -592bn vs expectations of JPY -36bbn and its 5th miss in the last 7 months as economists and … Seguir leyendo Japan Unveils Its Worst Current Account Deficit Ever

—- LuxurycarsdriveUKexportsto China // AmbroseEvans–Pritchard – Financeandbusinesscomments Sales of Range Rovers see Britain’s exports to second-biggest economy set to overtake France’s —- Shared via myfeedlyreader Seguir leyendo Luxury cars drive UK exports to China

Can Chile Reformthe Neoliberal Model? http://feedly.com/k/1doMAqj Reader Timotheus wrote: I attach an article that I thought might be of interest to NC readers. It is not particularly unique in its analysis, but Chile (where I lived for many years) is often a social laboratory that gives us an advance view of what is coming down the road. We know that Thatcher (1979) and Reagan (1981) … Seguir leyendo Can Chile Reform the Neoliberal Model?