Zero Hedge Contributors
Europe's Commercial Real Estate Timebomb?
Submitted by Leo Kolivakis on 03/19/2010 17:00 -0500Europe faces a commercial property debt timebomb with almost €1 trillion (£896bn) outstanding from the sector and a quarter of that potentially distressed. The UK accounts for 34% of the €970bn total, with Germany second with 24%. Not to worry, global pension funds are busy snapping up properties but do they really know how long it will be before this crisis blows over? And what if it gets a lot worse before it gets better? Are pensions prepared to deal with those losses?
German Central Bank Admits that Credit is Created Out of Thin Air
Submitted by George Washington on 03/19/2010 16:17 -0500Easy as 1-2-3 ...
Amid a Depression and Linked Heavily into Western Europe, Latvia's Government Collapses!
Submitted by Reggie Middleton on 03/19/2010 10:03 -0500As I warned in my Pan-European Sovereign Debt Crisis series and amid a depression, this Eastern European government has collapsed. Western European countries (and their banks) have material claims within this country, and when combined with pressure from the PIIGS, may be the ones that set off the financial/economic contagion daisy chain. It is difficult to determine who sets it off, which is why it is best to attempt to determine the path of the contagion instead...
Where Do Pensions Stand on Post-Crisis Reforms?
Submitted by Leo Kolivakis on 03/19/2010 07:34 -0500A recent joint poll by Responsible-Investor.com, the Network for Sustainable Financial Markets and AQ Research, showed more than 90% of investment professionals believe moral hazard has increased. And yet, global pension funds and wealth funds who manage trillions of dollars have not taken the lead to push for financial reforms. Why do they acquiesce, and not push for meaningful post-crisis reforms?
Google: A Moral Company
Submitted by Econophile on 03/19/2010 00:48 -0500The fact that Google will not kowtow to Bejing and will walk away from the market of greatest potential is to me a commendable act. This is a companion piece to my series, "China's Fragile Economy, Its Housing Bubble, and What It Means To Us." China is not a liberal country, by far.
Will UNG Be the First Big ETF to Go Bust?
Submitted by madhedgefundtrader on 03/18/2010 23:00 -0500The outlook for natural gas is terrible. Will this be the ETF that kills the goose that laid the golden egg? Torpedoed by contango. Sarah Palin’s pet project bites the dust. Sweating bullets in Qatar. Moral of the story: read the damn prospectus first. A new 100 year supply of natural gas will be a dead weight on prices for decades. Gas companies are racing to out-produce each other in the hope of offsetting falling prices with increased volumes. It’s sad to see such a great molecule fall on such hard times. Pitiful, really. (UNG), (CHK), (DVN), (XTO).
China's Fragile Economy, Its Housing Bubble, and What It Means To Us: Part III
Submitted by Econophile on 03/18/2010 13:42 -0500We think that China is an indestructible economic juggernaut but its economy is very fragile and it is sitting on a property bubble which will burst. What China does in response has major implications for their economy and the rest of the world. This is the third part of a three-part series on this topic: The Consequences.
Greece and the Greek Banks Get the Word "First" Etched on the Side of Their Domino
Submitted by Reggie Middleton on 03/18/2010 07:54 -0500The Greek saga continues, exactly as was anticipated. For all of those who don't regularly read me, this is really not about Greece but about the start of either default or significant depression throughout a large swath of the Eurozone. Greece is the firestarter and it looks as if we are starting to burn...
An Unusual Story in Bloomberg About Sallie Mae, with the Usual Dose of Non-Sensical Optimism
Submitted by Reggie Middleton on 03/18/2010 06:05 -0500- American International Group
- Asset-Backed Securities
- Bank of America
- Barclays
- Borrowing Costs
- Deutsche Bank
- Federal Home Loan Bank
- Federal Reserve
- Financial Accounting Standards Board
- Goldman Sachs
- Investment Grade
- Keefe
- LIBOR
- Mark To Market
- Merrill Lynch
- Morgan Stanley
- Paul Kanjorski
- Reality
- Sallie Mae
- TALF
Sometimes I have to actually read articles twice, because it really seems that I have somehow missed the point the first time around. Well, on my third glance at this Bloomberg article, I still don't get it: SLM Sells Debt at Higher Interest Rate Than Students Pay
Are Technology Stocks Gearing Up for Another Bubble?
Submitted by madhedgefundtrader on 03/17/2010 23:36 -0500After a decade in the penalty box, is the son of the Dotcom Bubble returning? The industry represents the last, best hope that America has for competing globally. Tech companies are among the few that make things foreigners want to buy. Foreign stocks wearing cowboy hats and pearl snap buttoned shirts There will be product shortages and much higher prices in any recovery. (CSCO), (JNPR), (JDSU), (SNDK), (MU), (ASML).
