by John Galt May 22, 2012 17:45 ET In a not so subtle article from the newspaper Adnkronos, the crisis in Italy is far from over and might indeed be accelerating: Businesses suffering ‘credit crunch,’ report says This excerpt from the story tells of a tale of woe growing month by month: Italian businesses are facing a credit crunch,” according to a report by the national statistics agency. Last year “modest investment activity was accompanied by a growth in the…
by John Galt May 22, 2012 17:05 ET Due to some technical difficulties on my end as I conducted the website redesign and with one of my email addresses I have been unable to update CalOkie’s bank failure charts but now the snags are fixed and the charts are now up to date as of last Friday’s only closing, as pictured by the header from the FDIC’s takeover of Alabama Trust Bank in Sylacauga, AL. Even though bank failures are slow this year, it…
by John Galt May 22, 2012 05:20 ET The other elephant in the room, the Japanese economy and debt disaster, received a major blow this morning while the rest of the world slept as Fitch downgraded Japan to A+ with a Negative Outlook. The reasons outlined should sound familiar to any European government or even the casual U.S. observer: “The downgrades and Negative Outlooks reflect growing risks for Japan’s sovereign credit profile as a result of high and rising public debt ratios,” said…
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