"If you're going to panic, do it fast and beat the crowd." ~ Jesse Livermore

Thursday, November 24, 2011

Roubini: “The contagion has now gone viral, cross Atlantic and global.” (video)


In Europe, the problems of Greece, Italy and Portugal have now spread to Italy, Spain and beyond. "Most ominously," Roubini notes, credit spreads are widening on the sovereign debts of France and Belgian among other "core" nations. In addition, there are acute signs of stress in interbank lending such as LIBOR and the TED spread while many European banks are facing a shortage of dollars. "It's a slow-motion train wreck," the famed economist says.
Rocket News
Roubini: “The contagion has now gone viral, cross Atlantic and ...
By CRONKITE
2 Responses to Roubini: “The contagion has now gone viral, cross Atlantic and global.” (video). checklist says ... look, folks, the situation in Europe isn't about “right” or “wrong”, about “noble germans” and “reckless lazy PIIGS”. Its all about THE ...
iBC_FN | iBankCoin Financial News

US bank credit default swaps jump
Financial Times
In early October, the cost of default protection on US banks had surged to levels not seen since the period around the 2008-09 financial crisis as investors worried Europe's sovereign debt crisis would infect the US financial system. ...
Contagion strikes Europe's core
Reuters Blogs (blog)
Any lingering illusion that the European crisis could be contained to so-called peripheral countries with high debt levels was shattered on Wednesday. German government bonds, which had thus far been seen as a safe-haven, slumped sharply after ...
Controversies over credit default swaps are here again
Los Angeles Times
Remember credit default swaps, those complex financial instruments that took a good part of the blame for the last financial crisis? Well, they're baaack. Now as subjects of controversy in the European financial crisis. Indeed, despite Warren Buffett ...
US bonds at record low on contagion fears
Sydney Morning Herald
The Treasury resumed selling seven-year notes in February 2009 as it sought additional ways to raise money during the depths of the financial crisis, after having discounted the maturity in April 1993. US Debt maturing in seven to 10-years have ...
Food Prices, Financial Crisis and Droughts
Huffington Post (blog)
The food price crisis that began in 2008 and the financial crisis of that year were intimately connected. Therefore, financial reform must include derivatives and other financial instruments related to developing countries and their farming sectors. ...
Austrians' Self-Help Fuels Contagion
Wall Street Journal
Austria's central bank now wants to restrain credit growth to its neighbors, in contrast to the Vienna Initiative it backed after the 2008 financial crisis, when Western banks pledged to maintain their exposure to the region. That helped avert a credit ...
EU Contagion: A Pair Of ETF Remedies To Hedge What Ails You
Seeking Alpha
France, you may notice, is nowhere to be found among the countries represented by the PIIGS acronym, landing instead into the expanded paradigm of "contagion". Another huge red flag blowing in a stiff breeze is the rise in overnight deposits made into ...
Lupatech Bond Yields Surpass 25% as S&P Sees Chance of Default
BusinessWeek
23 (Bloomberg) -- Lupatech SA's bonds tumbled, sending yields above 25 percent for the first time, as a plan by Brazil's largest oil-services and equipment provider to amend debt covenants heightened concern it may default. The Caxias do Sul, ...
BofA Swaps Soar to Record as US Company Credit Risk Increases
BusinessWeek
23 (Bloomberg) -- The cost to protect Bank of America Corp. debt surged to a record and a benchmark gauge of US corporate credit risk climbed to a seven-week high as Europe's sovereign fiscal crisis intensified. The Markit CDX North America Investment ...
PIIGS: Ireland the best among the worst
The Edge Malaysia
... positive growth in an environment where its PIIGS counterparts, Portugal, Spain, Italy and Greece, seem to be stuck on a downward trajectory. Ireland may have been the first to succumb to the 2008 financial crisis but it may be the first one out. ...
Washington Treasurer Proposes State Loan to Cover Arena Default
Bloomberg
By James Nash - Wed Nov 23 05:01:00 GMT 2011 Washington would prevent a default on $41.8 million in debt tied to a Wenatchee arena with a 10- year loan financed by a sales-tax increase, under a proposal by Treasurer James McIntire. ...
Europe's financial crisis opens doors on socio-economic business model
The Guardian (blog)
The financial crisis provides a once-in-a-lifetime opportunity to establish a new socio-economic paradigm in Europe that serves both the interests of capital and people. In Athens, the epicentre of the crisis, a special social economic zone could be ...
ROUBINI: Europe's Contagion “Has Now Gone Viral…And Global”
Business Insider
But "money alone is not going to resolve the problems" in Europe, where the "contagion is spreading" far beyond the so-called periphery, according to New York economics professor Nouriel Roubini. "The contagion has now gone viral, cross Atlantic and ...
Experts Believe UK Will Undergo Financial Crisis
Hedge Fund Net
by Jing Chen A survey of top institutions, including hedge funds, conducted by the Bank of England found that the majority believe that Britain is more at risk of a financial crisis now than before the 2008 collapse of Lehman Brothers. ...
No Containing Euro Contagion As Debt Crisis Spreads To Germany
Slate Magazine (blog)
By Matthew Yglesias Earlier this week, we started to see the clearest possible sign that the European sovereign debt crisis was no longer about shady budgeting in Greece or slow growth in Italy because problems started to afflict Finland, Austria, ...
Deutsche Bank could transfer contagion
The Korea Herald
You've probably never heard of Taunus Corp., but according to the Federal Reserve, it's the US's eighth-largest bank holding company. Taunus, it turns out, is the North American subsidiary of Germany's Deutsche Bank AG, with assets of just over $380 ...
Asia-Pacific Bond Risk Rises, Credit-Default Swap Prices Show
BusinessWeek
23 (Bloomberg) -- The cost of insuring Asia-Pacific corporate and sovereign bonds against non-payment rose in Asia, according to traders of credit-default swaps. The Markit iTraxx Asia index of 40 investment-grade borrowers outside Japan advanced 1 ...
Thomas Cook shares fall after default warning
TravelBizMonitor
Madhavan Menon, MD, TCIL, refused to comment on the impact of the parent company's possible debt default on the Indian operations. For the third quarter ended September 2011, TCIL made a profit of Rs 24.51 crore on revenues of Rs 89.50 crore, ...
NEWSFLASH: Greece Really Is On The Brink Of Default Right Now
Business Insider
According to a senior government official cited by WSJ, Greece needs money within 20 days so as not to default when €2.8 billion ($3.77 billion) in bonds payments come due in December. Merkel is demanding that the Greek government sign written ...
Housing market may not recover from financial crisis
Citywire.co.uk
by Michelle McGagh on Nov 23, 2011 at 07:56 Owning a home could be put further out of reach for many Britons as the Bank of England has warned the housing marketing is unlikely to recover from the financial crisis. Bank of England Monetary Policy ...
Global financial crisis with “indigenous” or “ingenious” economics explained
The Maravi Post
The funds required for this bailout are obtained by new taxes levied on employed, middle-class, non-drinkers who have never been in Abbi's bar. There you have it, a free lesson on the global financial crisis. Any questions? Malawi Finance.
CHART: Markets Are Pricing In An Italian Default In 2 Years
Business Insider
Prices on credit default swaps suggest that markets are pricing for an Italian default about two years from now, according to Italian economists Paolo Manasse and Giulio Trigilia in a report published in VoxEU. They produced this complicated graph that ...
Fitch: Hong Kong Banks Likely Withstand Contagion From Europe
Wall Street Journal (India)
HONG KONG (Dow Jones)--Hong Kong banks will likely be able to withstand any risk of majorcontagion from deterioration in Europe's economic situation as well as the risk European banks withdrawing funding from Asia, but are vulnerable to general risk ...
Eurozone Contagion Deepens After Disastrous German Auction ...
By Tyler Durden
From GoldCoreEurozone Contagion Deepens After Disastrous German Auction; Silver Supply Issues Gold is trading at USD 1687.10, EUR 1262.60, GBP 1086.30, CHF 1554.20, JPY 130590 and CNY 10760 per ounce. Gold's London AM fix ...
ZeroHedge
Fuel Fix » Bank credit default swaps jump
By FT.com - Energy
Bank credit default swaps jump.
Fuel Fix
Gold Supported as Eurozone Contagion Deepens After Disastrous ...
Gold Supported as Eurozone Contagion Deepens After Disastrous German Auction :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website. ... Revelations Keep Getting Worse - 22nd Nov 11. Global Balance Sheet Depression Making Second More Dangerous Credit Crisis Inevitable - 22nd Nov 11. Gold and Stock Market Trading ... Slowing Germany and RisingPIIGS Yield Make Perfect Economic Crisis Storm - 18th Nov 11. The Symbiotic Relationship of Feds...
The Market Oracle
Bank Exec Blames Federal Regulators For Fiscal Crisis - The ...
By feedback@thetakeaway.org (Public Radio International and WNYC Radio)
In the aftermath of the financial crisis, Wall Street executives tried to deflect the blame onto various culprits — government-sponsored enterprises like ... ... Bank Exec Blames Federal Regulators ForFiscal Crisis. Wednesday, November 23 ...
The Takeaway: Daily Podcast
Bernard-Henri Lévy: In the Face of Financial Crisis, Redo Ancient ...
By Bernard-Henri Lévy
Rome and Athens, epicenters of the economic and financial storm currently shaking Europe and the world. You read it right: Rome and Athens. In other words, the two cradles of Europe.
Europe on Huffington Post
The "Do Nothing" Solution to America's Fiscal Crisis | Capital Gains ...
By Bruce Bartlett
The "Do Nothing" Solution to America's Fiscal Crisis. 23 Nov 2011. Posted by Bruce Bartlett. . Bruce Bartlett's picture. I published this article in yesterday's Financial Times. BB. To many the budgetary gridlock in the US may appear as ...
Capital Gains and Games
The Escalating Eurozone Credit Crisis - American Future
By Marc Schulman
The Escalating Eurozone Credit Crisis. From the online Wall Street Journal at 11pm: EU Banks Struggle to Lure Deposits. http://si.wsj.net/public/resources/images/. Several large Italian and Spanish banks recently reported double-digit ...
AMERICAN FUTURE
Europe crisis ... PIIGS won't fly ... gap in eurozone's haves and have ...
By Crikey
What is left is the realisation that the EU can no longer labour under the misapprehension that thePIIGS could soon fly alongside their wealthier neighbours, writes Keshia Jacotine, who researches and writes about European and Irish politics. ... from Brussels coupled with low interest and taxation rates gave Irish policy makers a false sense of security and lead to the creation of short-sighted fiscal policy that did not plan for the post 9/11 slowdown and then the global financial crisis. ...
Crikey
Financial Siegfried Line fails: German bond flop means contagion ...
By The Extinction Protocol
Trillions needed to save Europe: In the meantime, Oliver Sarkozy, from the Carlyle Group, commenting on the contagion in Europe said: “The math I'm working with is very simple. In the U.S. banking sector, we had $3 trillion of wholesale ...
The Extinction Protocol: 2012 and beyond
Roubini: Europe's Contagion “Has Now Gone Viral…and Global ...
Read 'Roubini: Europe's Contagion “Has Now Gone Viral…and Global”' from our blog Daily Ticker on Yahoo! Finance. Follow Yahoo!'s The Daily Ticker on ...
finance.yahoo.com/.../roubini-europe-contagion-now-gone-vi...
Five Ways to Navigate the Fiscal Crisis (November 16, 2011 ...
How human services nonprofits can stay afloat and advance their missions during a time of government cutbacks.
www.ssireview.org/.../five_ways_to_navigate_the_fiscal_crisis

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