Tag Archives: default
The Revolt Against Absurdity
Credit default swaps insuring Greek debt rose in price yesterday to cover a 98 percent chance there will be a Greek default in the next five years. But perhaps it will happen sooner. Greece is playing games with its austerity … Continue reading
On Driving the Economy into a Brick Wall
Last Friday the University of Michigan reported a consumer sentiment measurement of 54.9 for August…down from 63.7 in July. It has been quite a while since consumers have been so in the dumps. In fact, consumer disposition has not been … Continue reading
When Buying Gold Becomes a Life-or-Death Question
Something absurd is going on…and we’re not talking about the stock market. While the wild swings in the DOW are fantastic entertainment, they’re not serious. Not for us, at least. We panicked and sold stocks long ago. Still, we watch … Continue reading
When the Whole Paper Edifice Collapses
There was massive carnage on Wall Street yesterday – again. No doubt, it makes for some exciting headlines. But here at the Economic Prism we won’t take your time to ponder the stock market’s precipitous decline. For, today, we’re more … Continue reading
