As an informal summit of European leaders has observers seeking signs of the eurozone’s direction…look at the market: German 30-year bunds tumbled to below 2 percent for the first time ever. Meanwhile, for the privilege of lending your money to the German government for 2-years you get paid a stunning…wait for it…0%. These rates aren’t suppressed by QE or ZIRP like in the US. They are a fear gauge as people run to there perceive safety of Europe’s largest and strongest economy.
And according to media reports the guessing game is underway for who will replace Timothy Geithner as US Treasury Secretary. You may be asking yourself why anyone would want to try and tackle the trillion dollar budget deficit, overhaul the tax structure and catch flack for a flailing economic recovery for a salary 115 times less than their private sector equivalent of Jamie Dimon. So are we. We’ll ask former assistant secretary of the treasury, Paul Craig Roberts if he thinks that this public service is actually a private gain…a one-way ticket to a massive private sector payoff.
Also, in the wake of Facebook’s flop of an IP, we see small investors suing, regulators subpoenaing, and US lawmakers searching for answers. Retail investors for one, are asking if they were fleeced. But we’ll show you how this could have all been avoided if they just watched Capital Account!
Categories: News mix