What does the "currency war" mean?

A reverse in the behavior of Central banks of developing economies was reported by International Monetary Fund. Few months ago the central banks of countries like China, Colombia and Chile were selling dollars in an attempt to support their own currency and avoid devaluation. Now they are doing exactly the opposite - selling own currency in an attempt to keep it low and have an export advantage.

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Paul Ryan for VP: The first victory of Ron Paul's campaign

The selection of Paul Ryan as vice-presidential candidate of Mitt Romney marks the biggest victory of Ron Paul in campaign. And in fact in all his campaigns up to now. Paul Ryan is the most conservative in economy candidate that is possible if we don't count d-r Paul himself. It is obvious that this move is addressing exactly the Paul's supporters and is an attempt to unify the divided Republican Party.

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US competitors in car-industry are not fools

The US President Barack Obama is trying to pass a protectionist measure as an aid to US carmakers, by preparing a regulation that will press the industry to double its average fuel economy till 2025. This is so called Obama Mileage Rule that at the moment is blocked by the Republican opposition in Congress.

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ECB saves Greece in a new $5 billion money-print round

ECB has secretly decided to finance directly an EU government, informed the German newspaper Die Welt. This has happened at the last meeting of The Governing Council. The formal procedure is an increase of the quantity of government bonds that Bank of Greece can accept as collateral in exchange for emergency loans. Till Thursday the limit was 3 billion Euros and now it is 7 billion Euros, that means another 4 billion Euros ($5 billion) for the bankrupted Greek government.

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Another credit ratings panic joke - Slovenia down 3 levels an once

The decision of Moody's to downgrade the credit rating of Slovenia by 3 steps at a time shows for another time the full inadequacy of leading old credit rating agencies. This is simply not professional as a rating can not be change so fast and a country can not lose or add 3 levels literally overnight.

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