The situation in Europe gets more depressing by the day. Policymakers have waited too long and now events are beyond their control. The only way to avert a disorderly breakup and another Great Depression is by deploying the European Central Bank (ECB) to backstop the debt of the individual countries, and even that might not work.
READ MORE: http://www.philstockworld.com/2011/11/13/europe%E2%80%99s-crash-landing/
Could The Debt Crisis Come To The U.S.?
Much of the volatility impacting global markets of late is the result of the European sovereign debt issues. Italy is the latest country to see its bond rates soar.
READ MORE: http://disciplinedinvesting.blogspot.com/2011/11/could-debt-crisis-come-to-us.html
The Global Super-Rich Stash: Now $25 Trillion
Another super-slick global financial analysis firm has just tallied how much net worth is sloshing around in the pockets of the world’s most spectacularly wealthy. So when will the time finally come to stop the counting — and start the taxing?
READ MORE: http://www.ourfuture.org/blog-entry/2011114512/global-super-rich-stash-now-25-trillion
Krugman: There is No Recovery
Three to 6 months from now, his Keynesian view will be totally demolished, from a price inflation perspective and a manipulated recovery perspective.
READ MORE: http://www.economicpolicyjournal.com/2011/11/krugman-there-is-no-recovery.html
Get Ready For The Return Of $100 Oil
Oil prices rose about 5 percent this week to finish only a dollar short of regaining triple-digit status. Since dipping below $80 per barrel on October 3, West Texas Intermediate (WTI) prices have increased almost 28 percent. This increase is nearly twice that of the S&P 500 Index, up 15 percent since October 3, but reinforces a recent trend for oil prices—as equities go, so goes oil.
READ MORE: http://www.econmatters.com/2011/11/get-ready-for-return-of-100-oil-guest.html
Last week was another milestone in terms of escalating sovereign tensions in the Eurozone. For several days it was not clear who would lead the next Greek government. Similar uncertainty regarding the future of the Italian government triggered a severe BTP sell-off, which then led to a clearinghouse margin call for Italian debt.
READ MORE: http://www.zerohedge.com/news/advance-look-weeks-key-event-europes-latest-velvet-revolution-credible
Moody's Says EFSF Unable To Support EU Bonds, Sends EURUSD Lower
READ MORE: http://www.zerohedge.com/news/moodys-says-efsf-unable-support-eu-bonds-sends-eurusd-lower