Microsoft learns to love leverage

September 23, 2010

If you thought the era of better living through financial engineering died with Lehman Brothers, have a look at Microsoft.

Deleveraging a process, not an event

September 21, 2010

It may be about as fun as having a tooth pulled, but cutting very high levels of debt in an economy is more of a process than a short, sharp event.

Speculators and China win big on yen move

September 15, 2010

What does $4 trillion a day in business, never sleeps and sees Japan’s Ministry of Finance as just one more patsy?

Looking for Keynes’ angels

September 14, 2010

Keynesian stimulus works perfectly, but only if you can find politicians who don’t care about re-election and central bankers who aren’t interested in being liked.

Irish plight about more than austerity

September 10, 2010

Ireland and its economic unraveling is not simply a test case of the stimulus versus austerity dispute, it is an illustration of the limits and pitfalls of the very popular strategy of keeping the banks ticking over, hiding under a desk and hoping for a strong recovery.

Housing double-dip threatens banks

September 2, 2010

Another dip in U.S. housing looks likely, bringing with it difficulties for banks and for their government guarantors.