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Definitions. In your author’s opinion, the writedown of Greek debt falls clearly within the S&P definition of sovereign default. Undeterred however by rating agency definitions, European leaders have characterised the writedown as a voluntary “ private-sector involvement ” or PSI. Case Interviews. Helpful Links.
Definitions. Thirdly, European banks are currently focused on building their balancesheets not on lending. Dexia has around $700 billion on its balancesheet, but like many banks it requires access to short term funding. Case Interviews. Helpful Links. Would a Bund by any other name smell as sweet?
Since the start of February this year, the Fed has expanded its balancesheet by more than $2.4 To put that in context, the Fed was created in 1913, and its total balancesheet assets only reached $2.4 trillion in assets, but only 2 months to achieve the same amount of balancesheet expansion this year.
In an interview with the Daily Bell that just came my way, Antal Fekete writes about Blowing Up Modern Austrian Economics. Background on Velocity To understand the interview discussion, one must first understand velocity. The simple definition V = GDP/M where V is velocity, M is money supply, and GDP is Gross Domestic Product.
Despite the unprecedented increase in the Federal Reserve’s balancesheet, growth in M2 over the first nine months of this year fell below its average rate of growth over the past 115 years, a time when the growth in the monetary base was stable and quite modest. The answer depends on the definition. So which is it?
trillion muni market had puzzled at the true identity of Bond Girl, Hector Negroni, co-founder of New York-based investing firm Fundamental Credit Opportunities, said in a telephone interview. “ It is not a balancesheet test, but a cash flow test. So Chicago is not bankrupt by definition (yet) and has a huge tax base.
As a staunch deflationist, as well as someone who is definitely not agnostic regarding gold, I am proof enough. Contrary to 1979/1980, the current gold bull market will unlikely end due to a sudden strong rise in interest rates, as the balancesheets of governments, households and corporations are tainted by huge debt.
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