Managed economies, manage to screw the populace

Fitch came out Monday with a downgrade of Japan’s debt to A from A+. Moody’s downgraded Japan in Dec. In its report Fitch noted, “prospects for success in permanently lifting the economy’s real and nominal GDP growth rates remain in doubt.” Japan has been attempting to jump start the economy for the last 25 years […]

Greece can kick coming soon

So as the Troika tees up the Greek can to kick it further down the road this week, despite the usual warnings about that not happening, rioting is again going on in the streets as the Greek central bank has told all other Greek cities and towns to forward their reserve cash to Athens. Meanwhile, […]

Two Chinese moves that bear watching

Two very interesting news items trickling out of China on Monday that bear watching. First the macro, which says the Chinese central bank is beginning a long-term refinancing operation to buy up high interest debt. Chinese banks will buy high-interest bonds — both public and private debt — at near-zero interest money from the central bank […]