Money and Finance
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As a reminder, Warren Buffett will be on CNBC tomorrow (Monday, February 29th) from 6am-9am ET. Warren Buffett's Shareholder Letter, Annotated (LINK) A Dozen Things Learned from Richard Thaler about Investing (LINK) A review of the book Quality...
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A Dozen Things Learned from Steve Jobs about Business (LINK) Mervyn King and former chairman of Federal Reserve Ben Bernanke reflect on world financial crisis [H/T ValueWalk] (LINK) Burger chain Shake Shack files for IPO (LINK) [$1 billion would be quite...
- Albert Edwards Excerpt...
The excerpt below was posted on Business Insider HERE:And while we are on the theme of mission creep, the incoming Bank of England Governor Mark Carney has given the clear impression from his statements over recent weeks that he does not agree with Mervyn...
- The Absolute Return Letter - June 2012
Contrary to conventional wisdom, the eurozone crisis has always been a banking crisis. It only morphed into a sovereign crisis because of political incompetence. Given the rather stubborn approach of the German government to its beleaguered eurozone partners,...
- Return Of The Old Ways Of Thinking Threatens Recovery - By Mohamed El-erian
Today’s lack of appropriate anchoring frameworks appears to be exacerbating short-termism. The issue goes well beyond the still-limited appreciation of the multi-year realignment of the global economy, which is gaining momentum. It also relates to tendencies...
Money and Finance
Sir Mervyn King issues gloomy financial forecast
Bank of England Governor Sir Mervyn King has said he is "pessimistic" over the chances for a eurozone recovery and warned Britain is still not halfway through the financial crisis.
In a gloomy Treasury Select Committee hearing, Sir Mervyn braced Britons for at least another five years of pain as he saw no sign yet of an end to the global financial woes.
The Bank chief told MPs he was "struck" by the speed at which the economic outlook was deteriorating as the eurozone crisis deepened, with conditions now worsening in previously booming areas such as Asia and other emerging markets.
He said he was "pessimistic and particularly concerned" as the problems in Europe continue without any decisive action.
Sir Mervyn added nobody expected the financial crisis that began in 2007 to have lasted so long, but said: "I don't think we're halfway through it".
He added: "My estimates of how long it will take to recover is expanding all the time."
- Links
As a reminder, Warren Buffett will be on CNBC tomorrow (Monday, February 29th) from 6am-9am ET. Warren Buffett's Shareholder Letter, Annotated (LINK) A Dozen Things Learned from Richard Thaler about Investing (LINK) A review of the book Quality...
- Links
A Dozen Things Learned from Steve Jobs about Business (LINK) Mervyn King and former chairman of Federal Reserve Ben Bernanke reflect on world financial crisis [H/T ValueWalk] (LINK) Burger chain Shake Shack files for IPO (LINK) [$1 billion would be quite...
- Albert Edwards Excerpt...
The excerpt below was posted on Business Insider HERE:And while we are on the theme of mission creep, the incoming Bank of England Governor Mark Carney has given the clear impression from his statements over recent weeks that he does not agree with Mervyn...
- The Absolute Return Letter - June 2012
Contrary to conventional wisdom, the eurozone crisis has always been a banking crisis. It only morphed into a sovereign crisis because of political incompetence. Given the rather stubborn approach of the German government to its beleaguered eurozone partners,...
- Return Of The Old Ways Of Thinking Threatens Recovery - By Mohamed El-erian
Today’s lack of appropriate anchoring frameworks appears to be exacerbating short-termism. The issue goes well beyond the still-limited appreciation of the multi-year realignment of the global economy, which is gaining momentum. It also relates to tendencies...