Generational Dynamics Forum - New Site

Or, maybe not. I got the previous news from the WSJ and Bloomberg sites. But the BBC is saying that they've only approved the original 80 billion euros, and that the rest of it is still subject to bickering. With Merkel losing her governing majority, she's going to have a tough time getting Germany ...

Correction: It's a 600 billion euro package, since it includes 100 billion
euros from the IMF.

Incidentally, a lot of those additional 100 billion euros come from the U.S.

John

News reports indicate that the finance ministers approved
a 500 billion euro bailout fund for eurozone countries that
get into trouble.

The Dow Industrial futures are up 150 points.

John

Financial Times posting from a few minutes ago: http://www.ft.com/cms/s/0/dcea346a-5b9e-11df-85a3-00144feab49a.html Trichet resists political interference amid crisis By Ralph Atkins in Frankfurt Published: May 9 2010 20:50 | Last updated: May 9 2010 20:50 Jean-Claude Trichet faced the challenge of ...

More late news: Merkel has lost her governing majority in regional elections. This makes Germany ungovernable for now, as are Britain and Belgium. (It kinda makes you glad that the US doesn't have a parliamentary form of government.) The recriminations for the European financial failure are going to...

The BBC is reporting that an $80 billion aid package has been approved,
but nothing beyond that, and that therefore the markets are going to
be "very unimpressed." They have to announce something soon, before
the Asian markets open.

John

Dear Thomas, Like many, I pay close attention to the words people use (especially politicians). Therefore, I found BHO's words very telling; If we can stabilize Europe that will be good for the United States." It seems he is not as full of his usual swagger and confidence. Otherwise, he would have s...

There's supposed to be a press conference at 6 pm in Brussels, which should be occurring now, but there's little information available. Here's something from Le Monde (machine translation). It sounds like a real mess. http://www.lemonde.fr/europe/article/2010/05/09/cacophonie-autour-du-fonds-d-urgen...

Miguel wrote:Will the massive financial debacle lead us to deflation or inflation?

We've discussed this a very great deal in this forum. Read through the
"Financial Topics" thread.

John

Oh, and I think the real reason there is trouble with the Euro is that the central bank started breaking its own rules when it said that junk bonds from Greece would count as collateral. This will result in more money printing, which is bad for the Euro. If they hand simply said "we will not be kic...