—- Brazil, RussiaCancelDebtAuctions; Head–in–SandMoveWon’tWork // Mish’s Global EconomicTrendAnalysis Russia and Brazil don’t like escalating interest rates. Their "solution"? Cancel government debt auctions. RussiaCancelsDebtAuctionsSecondWeek Yesterday, Reuters reported Russiacancelsdomesticbondauctioncitingmarketconditions Russia’s finance ministry cancelled its weekly domestic bond auctions for the second week in a row on Tuesday, saying in a statement the decision was "based on an analysis of current market conditions". Yields on so-called OFZ bonds … Seguir leyendo Brazil, Russia Cancel Debt Auctions; Head-in-Sand Move Won’t Work

—- Dangerof Global RecessionAfter 30 Yearsof Neoliberal Counterrevolution // nakedcapitalism Heiner Flassbeck is one of the few economists to get into positions of influence despite being firmly opposed to the prevailing doctrine of neoliberalism. He’s also direct and articulate. Among other things. Fleassbeck has been a professor of economics at the University of Hamburg, a Vice Minister at the German Ministry of Finance, and a … Seguir leyendo Danger of Global Recession After 30 Years of Neoliberal Counterrevolution

Sobre la importancia de cambiar los modos políticos: La inminencia de las elecciones europeas ha desatado en todo el espectro político un furor inusitado. Aparecen nuevas formaciones políticas a derecha e izquierda. Las opiniones a favor y en contra de los líderes, nacientes o renacidos, surgen por doquier. Hasta los más recalcitrantes antipolíticos parecen haber despertado súbitamente a la cordura, a admitir la importancia de … Seguir leyendo Sobre la importancia de cambiar los modos políticos

—- JPMorganTakesOffenseAtArgentina’sFabricated Reserves Data // ZeroHedge As wenotedpreviouslythereis a racetothebottom between the Argentine currency and its central bank’s reserve balance as day by day both slideseeminglyunceasingly. However, as JPMorgan notes in a rather aggressive note, a local press article sheds doubtsoverArgentina’s ‘honest’ reportingofinternational reserves. Though long used to the lies about inflation (that endedupwiththeeconomyminsterbeingfired and it beingdeemed ‘illegal‘ totellthetruth), JPMorgan blasts that during a balance … Seguir leyendo JPMorgan Takes Offense At Argentina’s Fabricated Reserves Data