NEW THINGS

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Sooner is better. As soon as you can is best.

Sanity will not reign.
Here is a chain for the situation in Europe:
http://www.nakedcapitalism.com/

Tuesday, July 24, 2012

Josh Rosner: Eurozone Crisis – No More Safe Havens

Josh Rosner of Graham Fisher published a report last week urging subscribers to short bunds, beating the Moody’s negative watch for Germany and the Netherlands by a full week.
The article provides a data-rich analysis of how a banking crisis has morphed into a sovereign debt crisis as the authorities have refused to impose losses on investors in banks in the so-called core Eurozone countries. And as Rosner argues, the current path of denial and delay has increased the eventual costs to Germany and the global economy, with the tab to Germany already €500 billion higher than it would otherwise have been.

Read the Rest...

Read more at http://www.nakedcapitalism.com/#wPRIDucJ7vQJoiKG.99

This is the link for the report:

http://www.scribd.com/doc/100964877/GF-amp-Co-Euro-Crisis-No-More-Safe-Havens

Thirty three pages.

There is a copy at naked capitalism.
The text is well protected so you will have to read from there or the source.
Paul Krugman has been right from early on.

The one thing I can do that the Chinese do not do is design.

I will make "one offs" and very short runs.
Collector value cannot be stolen easily.
Louis Comfort Tiffany is the model. The man, not the work.
Your input is desired by me.

Europe is sleepwalking towards imminent disaster, warn top economists

A one euro coin is melted with a welding torch in this photo illustration

The euro has completely broken down as a workable system and faces collapse with “incalculable economic losses and human suffering” unless there is a drastic change of course, according to a group of leading economists.

24 Jul 2012

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Spanish bailout fears escalate as Catalonia eyes rescue

Catalonia became the latest region of Spain to indicate it may need a state rescue, raising fears that a full-blown sovereign bailout is inevitable.

24 Jul 2012

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Debt crisis: as it happened - July 24, 2012

Germany's prized AAA credit rating is put under threat on Monday night after a day of market turmoil sees Spanish borrowing costs jump to new highs.

Jose Manuel Barroso, head of the European Commission, will visit Greece for the first time since the start of the crisis on Thursday as the country's prime minister said the economy could shrink by more than 7pc this year.

24 Jul 2012

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Europe's struggle catches up with America's manufacturers

America's manufacturing sector lost more momentum last month as Europe's economic struggles caught up with the industry.

24 Jul 2012

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Debt crisis: 10 Italian cities at risk of bankruptcy

San Marino falls victim to the eurozone crisis

Schools may not be able to open in the autumn due to spending cuts.

24 Jul 2012

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Top story

Ticking off by Troika heightens fears of Greek exit from euro
24 Jul 2012: International debt inspectors claim Greece is failing to keep to deficit reduction plan, while shares in Spain tumble

UK considered most at risk from worsening eurozone crisis
25 Jul 2012: Research says UK's strong trade and banking links with eurozone are potential source of weakness
Ed Miliband to join centre-left summit hosted by François Hollande
24 Jul 2012: Labour leader says that the French president had agreed 'in principle' to the meeting during face-to-face talks
A Spanish bailout? Don't hold your breath
24 Jul 2012: Megan Greene: Borrowing costs are high, but Spanish reluctance to seek a bailout at the moment makes very good sense
Former Anglo Irish Bank chief Sean Fitzpatrick charged
24 Jul 2012: Sean Fitzpatrick, former head of the now-nationalised bank, charged by Irish police with 16 offences of financial irregularity
Germany would do well to heed the Moody's warning shot
24 Jul 2012: Fabian Lindner: Though Germany has weathered the eurozone crisis its economic policies have put its banks and industry at serious risk
How Finland keeps its head above eurozone crisis
24 Jul 2012: Finland's economy is dominated by services but it is competitive in manufacturing – and its revenues are bigger than its debt
Kipper Williams cartoon: Catalonia is finished
Cartoon, 24 Jul 2012: Spanish regions expected to need further bailouts
Fall in Germany's PMI adds to its credit rating worries
24 Jul 2012: Analysts fear German economy may head into recession following poor PMI figures, and Moody's negative credit rating outlook