We are temporarily a company with no product and no revenue.”… Read More The $1.5 Trillion Global Tourism Industry Faces $450 Billion Collapse in Revenues, Based on Optimistic Assumptions
Most importantly, we have our health (touch wood) and each other… Read More Welcome to Dystopia: My Life Under Lockdown in Spain
Just how much lower can they go? To Zero. And the ECB’s negative interest rates are driving them closer to it… Read More European Bank Stocks Collapse to March 2009 & 1988 Levels
Nationalism and speculation have seldom had a better opportunity to combine forces as the one riding today on the coattails of Covid-19, known as the coronavirus. … Read More Coronavirus Has Sparked a Perfect Storm of Nationalism and Financial Speculation
“If the situation of generalized panic continues, thousands of businesses, especially small ones, will first enter a liquidity crisis, then close their doors.”… Read More Tourism is 10% of GDP in France, 13% in Italy, 15% in Spain. And Now it’s in Free Fall
LVMH’s bond issue to pay for Tiffany was cheaper than Bernard Arnault’s wildest hopes. Euro credit sales are so hot right now… Read More France’s Richest Man Gets a Free Lunch From the ECB
Global task force sounds alarm over ‘very dangerous’ dollar crunch… Read More Does the IMF Have Enough Firepower to Backstop Global Financial System?
A major German TV network has aired an interview with the UN rapporteur on torture that reveals the invention of the Swedish “rape” case against Julian Assange… Read More German TV Exposes the Lies That Entrapped Julian Assange
The people are angry with their government. Where? Just about everywhere. So what makes ongoing strikes in France so special?… Read More French Popular Uprising: Revolution or Frozen Conflict?
Today’s rate hike by the central bank of Sweden ends an absurdity. ECB and other central banks with negative rates are getting ready to follow.… Read More First Central Bank Exits Negative Interest Rates
Increased scrutiny hasn’t put an end to accounting sleight-of-hand… Read More Wall Street Magic Tricks Make Banks Look Safer Than They Are
BIS finds euro repo market is functional but more fragmented. Segmentation could impede redistribution of liquidity, it says.… Read More Now Repo Distortions Are Emerging in Europe’s $9 Trillion Market