Money Morning Archive June 2010

Why Thursday could be a scary day for European banks

Austerity is the new buzzword. After the G20 meeting at the weekend, markets are braced for governments to cut back. But what's really worrying investors is that central banks are talking about cutting back too. There is increasing talk about removing some of the 'monetary stimulus' pumped in via special liquidity schemes and low interest rates and quantitative easing and the like.

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More austerity, please!

 We got a look at how the world really works last week. Bloomberg ratted out Sophia Constantinidou

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Why there are more pressing issues than just rate cuts for SA

The governor of the Reserve Bank has one of those unfortunate “damned if you do – damned if you don’t” jobs. Every month – every second month during less turbulent economic times – Gill Marcus sits with the Monetary Policy Committee to decide whether interest rates are cut, hiked or left unchanged.

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Three reasons why gold may be due a correction

<!--StartFragment -->After moving above $1,260 an ounce on Friday afternoon, gold closed the week at $1,256. It's a new record.

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It’s June in Florida

 “You can get wood. You can get brick. You can get stucco. Boy, can you get
stucco.” Groucho Marx

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Why SA won’t avoid recessions choking grasp

The domestic economy rests on two key pillars, namely resources and consumer-driven expenditure. South Africa Inc won’t avoid recessions’ choking grasp if either of these pillars crumble. Right now the columns are near bursting point.

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Why Europe needs to kill off its zombie banks

Markets are back in 'risk on' mode. It's what you'd expect after the carnage of May. It's also more evidence, if you need it, that investors can only really hold one crisis in their minds at a time. Fear of Europe has been replaced by panic over BP, or British Petroleum as it's now better known in the US.

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Things fall apart

Between 2003 and mid-2008 international investors were lulled into a false sense of security by seemingly linear markets. Share prices rocketed on the back of ever increasing corporate earnings and dividends. But these short-term anomalies cannot alter the cyclical nature of markets.

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Why the US could be facing a double-dip recession

Gold had another good day yesterday, while stocks sold off. But everything's going to be just fine. Why? Because Ben Bernanke says so.
Shares edged higher in Asia this morning. Apparently it's all to do with an interview that the Federal Reserve chairman gave last night.

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