Truman in English
Select articles and exclusive interviews for our anglophone readers.
The Euro 1999 – 2012 R.I.P.
A bailout of Italy would cost the EU another €500 or €600 billion. Spain would be another €300 billion. Why would Germany and France want to do that?…
Don’t be Fooled by Political Posturing
Republicans want to raise the debt ceiling just as much as Democrats, they just want to gain political advantage in the process.…
Brace Yourself
The bad news for investors pursuing positive real returns is obvious: the first half of 2011 was painful. The good news is that a set of conditions now exist that we think sets the stage for meaningful structural change... and it may occur soon.…
How the Fed crashed the MBS market
A curious thing happened in the RMBS and CMBS markets (ABX) this Spring: it crashed and ultimately recovered only somewhat (at least for the super senior tranches).…
Whither Greece
One must conclude that the EU’s new central planners are acting as class warriors by demanding that all losses are to be suffered by economies imposing debt deflation and permitting creditors to grab assets... If Greece does not draw a line here, it will be a victory for financial and fiscal aggression imposing debt peonage.…
Greece Is Europe: The Failure Of The Euro (Part II)
There are two ways out of this mess: default or monetary inflation.…
Greece Is Europe: The Failure Of The Euro (Part I)
How the EMU works, why it is failing, and why they will resort to fiat money printing to solve it.…
Rolling Back the Progressive Era
Financial strategists do not intend to let today’s debt crisis go to waste. The basic model follows the former Soviet Union’s post-1991 neoliberal reforms: privatization of public enterprises, a high flat tax on labor but only nominal taxes on real estate and finance, and deregulation of the economy’s prices, working conditions and credit terms.…
The Bilderberg conspiracy unmasked
The reason that there is no vast conspiracy is because "They" don’t need one.…
EU: Politics Financialized, Economies Privatized
"Saving the euro" is a euphemism for governments saving the financial class – and with it a debt dynamic that is nearing its end regardless of what they do.…
How financial oligarchy replaces democracy
The Greeks gathering in Syntagma Square seem to need no culture shock to reject their Socialist government's cave-in to European bankers. It looks like they may follow Iceland in leading the ideological pendulum back toward a classical awareness that in practice, this rhetoric turns out to be a junk economics favorable to banks and global creditors.…
