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World Is Now “More Exposed than Ever” to Explosive Dollar

World Is Now “More Exposed than Ever” to Explosive Dollar One of the craziest financial creations on earth, available only near the peak of enormous credit bubbles when nothing can ever go wrong, became available this spring: 100-year bonds issued by governments or companies in emerging countries, in currencies they don’t control. Yield hungry investors […]

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Brazil Cut To Junk By S&P, ETF Falls 5% Post-Mkt

Brazil Cut To Junk By S&P, ETF Falls 5% Post-Mkt It’s not as if the writing wasn’t on the wall, and don’t say we didn’t warn you. Brazil, whose economy officially slid into recession in Q2 – a quarter during which Brazilians suffered through the worst inflation-growth outcome (i.e. stagflation) in over a decade – and whose […]

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Austerity in Greece – What Has Gone Wrong?

Austerity in Greece – What Has Gone Wrong? A Brief Update on Recent Developments On Friday, the Greek government has submitted its latest reform proposals to the EU. According to press reports, these are supposed to raise €3 billion and consist of the following: “[…] moves to combat tax evasion, more privatizations and higher taxes on […]

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Russia Cut to One Step Above Junk by Fitch on Oil, Sanctions

Russia Cut to One Step Above Junk by Fitch on Oil, Sanctions Russia’s credit rating was cut to the lowest investment grade by Fitch Ratings after plummeting oil prices and the conflict over Ukraine triggered the worst currency crisis since the country’s 1998 default. Fitch, which last downgraded Russia in 2009, cut the sovereign one […]

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Why Moody’s Cut Russia to Two Notches above Junk | Wolf Street

Why Moody’s Cut Russia to Two Notches above Junk | Wolf Street. It was not the most productive summit in the history of mankind. President Vladimir Putin, after watching a military parade in Belgrade, Serbia, and questioning Kosovo’s independence, arrived in Milan on Friday so late that Chancellor Angela Merkel, with whom a private meeting […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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