The White House And The Recession
By Barry Ritholtz - March 8th, 2009, 8:29AM
Treasury says US bank rescue could cost more than approved $700 billion
Bloomberg, March 07, 2009
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"Very little is written about what will happen when all the dollars, built up as foreign central bank and private holdings, get spent. Indeed, we believe that not only will the dollars get spent, but this spending will have massive inflationary implications for America." —Richard Benson
Macro Notes
Another important macro weekend awaitsPeter Boockvar
"The Greek offer is not sufficient and they have to go away to come up with a revised plan," said a spokesman for the German Finance Ministry. The Greeks must first have a plan that satisfies the Germans which this comment states they clearly don't yet and then the Greek Parliament will vote on it this weekend. This said, whatever package gets voted on in Greece is basically an up or down vote on euro membership so we are entering another uncertain weekend for global markets. A failed vote will likely lead to a hard default which may be what...
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