NYT Economix - In Ireland, Dangers Still Loom (Warning : Depressing!)

slx

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Oct 13, 2008
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It seems the New York Time's Economix Blog's guest economist, Peter Boone, is taking a very dismal view of Ireland's future and our ability to dig ourselves out of the massive hole we find ourselves in.

While there are plenty of things you could argue about in this article and it is certainly not free from the odd sweeping generalisation and inaccuracy. I think the international sentiment about Ireland is shifting extremely quickly.

In Ireland, Debt Still Poses Danger to Banks and State - NYTimes.com

A few choice quotes:

"Ireland’s difficulties arose because of a huge property boom financed by cheap credit from Irish banks. Ireland’s three main banks built up loans and investments by 2008 that were three times the size of the national economy..."
"Despite or perhaps because of this therapy, financial markets are beginning to see Ireland as Europe’s next Greece."
"Until very recently, Ireland was seen as Europe’s poster child of prudent reforms."
 


Frank Galton

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The Central Bank of Portugal is now claiming that Peter Boone's writings for Economix/NYT was influenced by his own positions.
AA

Portuguese prosecutors have asked for Canadian academic Peter Boone to be put on trial after he wrote articles predicting a debt crisis in Portugal similar to Greece’s and then, they say, made nearly $1-million from price moves in that market.

In a statement released by his lawyers, Boone denied the accusations over his 2010 publications as “utterly without foundation” and expressed hope that the Portuguese authorities would reconsider the evidence and not proceed to trial.

“Expressing an opinion on issues of financial policy is not a crime but an essential part of a democratic society. These charges represent a serious assault on those values and will be resisted,” the statement said.
Canadian academic accused of Portuguese bond market manipulation - The Globe and Mail
 

Boy M5

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Interesting. The NYT is incredibly ethical. The FT has a few market players who are made make disclaimers about their trading positions.

If this lad used the grey lady to try to queer markets - I hope they throw the book at him.
 


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