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Frontrunning: April 14

Tyler Durden's picture

  • Bailout a ‘Flawed Plan’ Forced on Irish People (Irish Times)
  • Obama’s Debt Plan Sets Stage for Long Battle Over Spending (NYT)
  • America Must Give Up on the Dollar (Michael Pettis)
  • Banks Forced to Pay Foreclosure Victims as Talks Continue (Bloomberg)
  • Budget Rises as Most Important Problem to Highest Since '96 (Gallup)
  • Calls grow for Japan PM to quit in wake of quake (Reuters)
  • Find the discrepancy of these two headlines:
    • China to See More Interest Rate Hikes in Q2 (China Daily)
    • China Banks Said to Need $131 Billion of Equity Over Six Years (Reuters)
  • Hong Kong Considers More Property Measures (WSJ)
  • Glencore seeks up to $12.1 billion in IPO, no chair yet (Reuters)
  • Investment banks will not wield their power forever (FT)
  • Obama's toxic speech and even worse plan for deficits and debt (WSJ)
  • China FX reserves soar past $3 trillion, add to inflation (Reuters)
  • BOK Must Raise Rates to 4% to Curb Inflation, Adviser Says (Bloomberg)
  • Portugal's Socrates Meets Opposition Over Bailout Terms (WSJ)
  • New Normal Means Tokyo Living With Chernobyl (Bloomberg)
  • Allies Look for Ways to End Libyan Stalemate (FT)
  • Italian lenders to resume pay-outs (FT)
  • UK Calls for Funding for Libyan Rebels (FT)

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Thu, 04/14/2011 - 08:35 | 1168266 gmak
gmak's picture

Bringing the US budget in terms we can all understand:


If we divide everything by 100 million, the numbers begin to make more sense.

We have a family that is spending $38,200 per year. The family’s income is $21,700 per year. The family adds $16,500 in credit card debt every year in order to pay its bills. After a long and difficult debate among family members, keeping in mind that it was not going to be possible to borrow $16,500 every year forever, the parents and children agreed that a $380/year premium cable subscription could be terminated. So now the family will have to borrow only $16,120 per year.

Thu, 04/14/2011 - 08:53 | 1168321 Pants McPants
Pants McPants's picture

$380/yr for premium cable?  That sounds cheap.  Not take-out-another-credit-card cheap, but cheap for anyone not experiencing a $16,500 annual shortfall.


Thu, 04/14/2011 - 09:17 | 1168403 gmak
gmak's picture

It's an analogy of sorts. The $380 per year is representative of the cuts to the budget that have been proposed.

Thu, 04/14/2011 - 10:40 | 1168655 Pants McPants
Pants McPants's picture

Ahhh, I'm an idiot.  Thanks.

Thu, 04/14/2011 - 08:37 | 1168271 tek77blu
tek77blu's picture

major story that completely off everyone's radar screens? Uranium stocks down 50-80% since japan crisis! Major buy?? I would think so! Good commentary on it!

Thu, 04/14/2011 - 09:08 | 1168362 hedgeless_horseman
hedgeless_horseman's picture

Find the discrepancy of these two headlines:

  • China to See More Interest Rate Hikes in Q2 (China Daily)
  • China Banks Said to Need $131 Billion of Equity Over Six Years (Reuters)

Contradictions do not exist. Whenever you think you are facing a contradiction, check your premises. You will find that one of them is wrong.                                   -Ayn Rand

My guess is they are both false.  No more rate hikes, and Chinese banks will need much more money than $131 Billion.

Thu, 04/14/2011 - 09:16 | 1168382 lieutenantjohnchard
lieutenantjohnchard's picture

i always like this post. helps organize reading material for the day.

Thu, 04/14/2011 - 09:30 | 1168445 HedgeFundLIVE
HedgeFundLIVE's picture

The last time Obama went to war with Wall Street, the biggest of the taxpayers, the market sold off hard:

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