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overtheedge
Member since May 2012
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Eurozone Rotting to the Core; Four Possibilities; Beyond the Math

- Mish - Global Economic Analysis

Excellent article.
This is the big one in my opinion.
"It's a mathematical certainty that every country cannot have a trade surplus."
It needs to be repeated until it sinks in.

This realization won't help us this time, but maybe the passengers on starship Earth can remember it for the next time.
I consider this an excellent reason to clear the balance of payments every 90 days.
Any unwillingness or inability to clear the balance of payments must result in cash-only transactions for 12 months after the balance has been cleared.
Otherwise we will be right back to interest-only payment plans.

I hope Germany has the gumption to clean out their Target2 balance.
If nothing else, buy commodities.
Just clean it out. Use it or lose it.
After all, you can't trust the EU to force its member states to comply with the budgetary rules those same member states agreed to.

Commented 3465 days ago

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Beginning of the headline :On October 6, I noted German Factory Orders Slump 5.7%, Most Since January 2009. The previous month was up 4.9%, so I averaged the two months noting "The average result is a decline of 0.4% per month, for the last two months. That process also means four consecutive months of decline." German numbers were particularly volatile allegedly due to timing of school holidays, but there is no way to smooth out four consecutive months of decline as anything other than overall weakness. Germany Slash... Read More

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