ricardian ambivalence

EU Summit flops

EU Summit flops. The ESM is still EUR500bn; it will not have a banking licence; they could not agree treaty

the WSJ reports that central banks have begun to plan for what to do if the EUR falls apart.

The RBA today cut their target for the overnight cash rate 25bps to 4.25%, in what was one of the

Marty Feldstein on why Europe does not work. He says it is not like the US at all, as it

In a speech overnight, Fed Vic Chair Yellen indicated that she sees scope for policy to further boost demand. In

Our fearful Treasurer delivered the 2011-12 MYEFO (Mid Year Economic and Fiscal Outlook) today, and as expected the Treasury forecast

According to Bloomberg The Rome-based Treasury sold 3.5 billion euros of a new three-year bond, 2.5 billion euros of 2022

1/ US ‘Black Friday’ sales look awfully strong. Sales were up ~7%y/y, and electronic sales up ~24%y/y A word of

The WSJ reports that Euro-zone countries are weighing a new plan to accelerate the integration of their fiscal policies …

Overnight, Italy paid 6.504% to borrow for six months: up 353.5bps from the prior Auction (and up ~406bps from the

The headlines for the Q2 US GDP report showed a downgrade to real GDP from 2.5% to 2% SAAR. This

The FT’s Harding writes that QE3 is going to have to await a broader communications revamp. Bernanke apparently has them