Scottish Banks Are Voting ‘Nay’

iqCpk8qQumGY
Source: Societe Generale

 

Albert Edwards, the insightful but not especially upbeat analyst at Societe Generale SA, writes to warn:

The sequence of events which might flow from a Yes vote may be as unpredictable and as uncontrollable as those of the late 1980s in Eastern Europe, which led to the ultimate demise of the USSR.

Edwards notes how successfully the U.K. currency union worked during the 2008 crisis. The relative strength of the pound worked in favor of two Scottish banks that required bailouts — Royal Bank of Scotland and HBOS Plc (now part of Lloyds Banking Group Plc.).

Continues here

 

 

Category: Bailouts, Politics

2016 Mercedes GT: 911 Fighter

 

More photos after the jump

Read More

Category: Weekend

Making Sense of Dissents: A History of FOMC Dissents

Category: Think Tank

Made in New York featuring Derek Jeter

Ahead of his final playing days, Derek Jeter soaks in the atmosphere on a walk in the Bronx.
 

via Gatorade

Category: Sports, Video

10 Thursday PM Reads

My afternoon train reads: • Falling Stock: As renewables get cheaper and climate risks grow, Wall St sours on the coal industry (Sierra Club) • Crash Ahead!!! (Above the Market) • 401(k) fail: Expert sees ‘totally unexpected’ drop in accounts (Fortune) see also 7 fatal flaws in America’s 401(k) plans (MarketWatch) • The 314-Member Club —…Read More

Category: Financial Press

State-Level Changes in Real GDP, 2005-2013

The U.S. Bureau of Economic Analysis (BEA) recently released a trove of data on the individual state economies. You can zoom in on quarterly state-level gross domestic product (GDP) series begins from 2005 through the 2013 at Macroblog of the FRBA. But I thought it might be instructive to see what the map looks like…Read More

Category: Digital Media, Economy

BLS Preliminary Benchmark Revision to NFP

This year’s benchmark: Surprisingly small From labor wonks at the Liscio Report: This morning the Bureau of Labor Statistics released the preliminary benchmark revision to the non-farm payroll, through March 2014. The annual benchmark is based on the unemployment insurance system’s records, which cover close to 100% of establishment employment, and are the last word…Read More

Category: Data Analysis, Employment

State Street CIO Conference

Interesting day as I am scheduled to open the State Street CIO summit by  interviewing Arthur Levitt, former chairman of the SEC, right about . . . NOW. I will post an update if I can

Category: Investing, Regulation

10 Thursday AM Reads

Its the day after the FOMC meeting, and apparently, a new era is upon us: • We Still Don’t Know What $1.6 Trillion Bought Us (fivethirtyeight) see also Do the Fed’s Forecasts Get Marked to Market? (Barron’s) • Is the Strong Dollar Good for Stocks? (Barron’s) •  How to Join 9,000 U.S. Taxpayers With Romney-Sized…Read More

Category: Financial Press

The Fed and the Media

The Fed and the Media David R. Kotok September 18, 2014   We know the Fed meeting results; the coverage has been exhaustive. Note that the new “dots” analysis of the median dot now points to an expected 1.375% Fed Funds target rate by the end of 2015. (See Craig Torres’ report on the FOMC.)…Read More

Category: Federal Reserve, Financial Press, Think Tank