Category: Markets

Bail out? Bail in?: Part 2, Italians aren’t stupid

6 July, 2017 (08:30) | Banks, Capital markets, Eurozone, Global news, Italy, Markets, Recapitalization, Speculation |

  By: David A. Smith   [Continued from the previous Part 1.]   As we saw in Part 1, the Italian government is following in a series of national governments (previously Greece, before that Spain) that when confronted with a Brussels-issued ultimatum, reject it:   “We accept it!” “We reject it!”     Sources used […]

Bail out? Bail in?: Part 1, Investing might be a bad choice of words

5 July, 2017 (09:00) | Banks, Capital markets, Eurozone, Global news, Italy, Markets, Recapitalization, Speculation |

  By: David A. Smith   Is this really going to work?   As a longstanding fan of the snarky voice of Tyler Durden, one of the pseudonymous authors of the financially morbid, always incisive, and scarily provocative Zero Hedge (which, for example, thinks Uber’s market cap is about to collapse like a flash-frozen soufflé), […]

“All is well!”

3 January, 2017 (09:00) | Banking, China, Currency, Global news, Markets, Speculation |

   By: David A. Smith   When it gets away from your control, it can get away quickly, and everything you do to keep it under control just makes everyone more skittish, more eager to get away.  Judging from a year-end article in the Wall Street Journal (December 29, 2016), such a tipping point may […]

In a phrase, slow supply asphyxiation

27 December, 2016 (09:00) | Apartments, Boojum, Demand, Housing, Markets, Ownership, rentals, Speculation, Supply, US News, Zoning, zoning-by-taste-police |

  By: David A. Smith   When water doesn’t flow downhill, we may reliably infer the existence of a catchment even if we can’t see it.  When markets don’t respond to sustained economic pressure, we may reliably infer the existence of barriers.    A while back, I caught a Wall Street Journal squib (December 16, […]

Boojum: The ‘new’ problem of immigration

2 December, 2016 (09:00) | Housing, Immigration, Markets, Remittances, Ross Macdonald |

  By: David A. Smit     From Border Incident, 1949   I told him about the closed blue truck, the brown men of the temple. “Troy is the head of the gang.  The others work for him.  They’re been running an underground railway on a regular schedule between the Mexican border and the Bakersfield […]