Bad news arrived earlier this month for anyone with a stake in any private sector pension fund that had invested in the Polish government bonds. The government announced a 100% default on these bonds. It stiffed its creditors (lenders).
The creditors - China, Japan and other Asian governments - have a hoard of U.S. Treasuries in their $5 trillion cache of foreign exchange reserves, the equivalent of almost a third of U.S. gross domestic product.
An economic crime perpetrated by criminal syndicates in the most remote regions, exploiting local people and lax lawsJust this week, in Zimbabwe's largest game park, more than 80 elephants were killed for their ivory by poachers who poisoned a waterh
But, where can you go? As an oil trader, I've got no problem being short commodities, but a lousy track record being short stocks. That's why I've advocated collecting premium wherever you can by selling calls either in the money or slightly out o
The economy works like a simple machine.
But many people don't understand it— or they don't agree on how it works — and this has led to a lot of needless economic suffering.
(MoneyWatch) It's been five years since the collapse of Lehman Brothers. Has anything changed?
Far from being jailed, bankers who presided over the frauds that brought down the U.S. economy in 2008 have kept their money and are living large. "Too
The Chinese gambling haven of Macau is booming as VIPs spend cash more heavily and rapidly, while Singaporean gamblers slow down and Japanese politicians back groundbreaking casinos, according to an industry report by Citigroup Inc. (NYSE:C) from Mon
s well as undermining 1.2 billion people’s hopes of prosperity, failure to reform dragged down the rupee. Restrictive labour laws and weak infrastructure make it hard for Indian firms to export. Inflation has led people to import gold to protect thei
A delay in potential U.S. military action in Syria and improving economic data from China and Europe boosted appetite for riskier assets on Monday, lifting world shares and sending the yen lower.
A U.S. court ruling for Argentina to repay creditors who rejected the restructuring of its defaulted debt could set a bad precedent for other countries, Brazilian central bank chief Alexandre Tombini said on Thursday.
Even after seven years of writing macroeconomic analysis for the liberty movement and bearing witness to astonishing displays of financial and political stupidity by more "skeptics" than I can count, it never ceases to amaze me the amount of blind fa
The total amount of Greek government debt outstanding has grown so much over the last 15 months that it has retraced over 60% of the 'haircut'-based reduction and has jumped a stunning 14.5% in that period.