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  • Bailout passes, Wall Street falls

    'Buy on the rumour, sell on the news' is the classic definition of a weak market. So the US stock market's reaction to the passing of the US bailout is a worrying indication that further problems may lie ahead. On 19 September, the Dow rocketed to 11388 as the bailout was confirmed. Last...
    Posted to ICIS Blogs (Weblog) by Anonymous on 10-04-2008

  • A political crisis in Washington

    As if a global financial crisis wasn't enough, we now have a political crisis in the USA. Leaving aside the question of whether the 'bailout' would have worked, last night's rejection of the proposal means that we are in uncharted territory on how to move forward. The blog cannot remember...
    Posted to ICIS Blogs (Weblog) by Anonymous on 09-30-2008

  • 'Our entire economy is in danger' - Bush

    In early August, the blog noted that politicians were beginning to recognise the seriousness of the economic situation. First, China's finance minister Liu He warned that 'an economic restructuring was inevitable'. Then the UK's finance minister said the 'global economy was at a 60...
    Posted to ICIS Blogs (Weblog) by Anonymous on 09-25-2008

  • 5 key questions about the US bailout

    The proposal now before Congress to authorise the spending of $700bn to bail out Wall Street contains just 849 words. It avoids the need to go into further detail via its suggestion that the Treasury Secretary should simply have unlimited authority to act as he 'deems necessary'. But 5 key questions...
    Posted to ICIS Blogs (Weblog) by Anonymous on 09-21-2008

  • US$4.8 trillion

    Last September, I wrote to the Financial Times on the subject of the US sub-prime disaster. At a time when many banking commentators were trying to minimise the problems, I suggested that 'a "buyer of last resort", such as the Federal government, would probably need to emerge if this situation...
    Posted to ICIS Blogs (Weblog) by Anonymous on 07-15-2008

  • High inflation, or global downturn?

    Central bankers had it easy over the past decade. Now they are going to have to earn their money. Inflation is rising rapidly, and growth rates are falling. But unfortunately, as I first noted back in March , they still seem to have differing ideas about what policies will best counter these twin challenges...
    Posted to ICIS Blogs (Weblog) by Anonymous on 06-08-2008
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