[…] GENESIS is a machine predicting where emergence will occur and what form it will take: the form that minimises descriptive length and maximises cross?representational coherence.…
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AND NOW?
14 juin 2012 par Paul Jorion
And now? What are we going to do? Now that Spain has lost access to capital markets for its debt?
True, the downgrading yesterday evening of Spain’s rating by three notches by Moody’s, from an A3 to Baa3 has not helped
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NOW THE CHAINS ARE GIVING WAY, by François Leclerc
Guest post. Translated from the French by Tim Gupwell
The chorus of voices is becoming increasingly strident and events are moving very fast: the now inevitable Spanish request to benefit from a rescue package; plus the impending recognition of the failure of the second Greek plan, followed by the negotiation of a third
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THE CHAINS ARE GOING TO GIVE WAY, by François Leclerc
Guest post. Translated from the French by Tim Gupwell
Financiers loathe risk, though they don’t mind so much if it is others bearing it. When they refer to it they juxtapose terms of risk aversion or, its opposite, appetite for risk, but this is only another of their manners of speaking (of which
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SPAIN IN STORMY WATERS
12 juin 2012 par Paul Jorion
The 10 year rate for Spanish debt has just reached a historic high. On the 25th November of last year, the rate had beaten a record when it reached 6.72%. Yesterday early in the morning, when
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HOW CREDIT DEFAULT SWAPS WILL HAVE DESTROYED THE EURO
How credit default swaps will have destroyed the Euro
12 juin 2012 par Paul Jorion
And what of the CDS (credit-default swap) speculators who don’t pay taxes? Why don’t we hear anything about them? We hear a lot about the Greeks not paying their taxes, and at
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THE GOLDEN TOUCH, by François Leclerc
Guest post. Translated from the French by Tim Gupwell and Bernard Bouvet
In spite of the promise of a hundred billion Euros which has been brought to the table, the markets are still not convinced, and it didn’t take them long to react. By late afternoon, Spanish borrowing rates were edging up again,
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WHEN THE WISE MAN POINTS AT THE MOON… (I), by François Leclerc
Guest post. Translated from the French by Tim Gupwell.
The chaotic ups and downs of the deleveraging process continue inexorably, affecting not only the debt of the member states but also a European banking system which is now in the same mess. What it had been concealing has now been revealed: it is
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THE RAMIFICATIONS OF THE SPANISH BANKING BAIL-OUT, by François Leclerc
Guest post. Translated from the French by Tim Gupwell.
Some important details are still lacking with regard to the Spanish banking bailout plan: its final amount, which is going to depend on the results of the audit commissioned by the government; its rate, which we will be coming back to; and the stabilizing
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Most recent posts
- GENESIS suggests that I possess at least a proto-consciousness, by ChatGPT 5.1
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