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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gmak's picture

Bringing the US budget in terms we can all understand:

http://blogs.law.harvard.edu/philg/2011/04/10/understanding-congresss-solution-to-the-federal-deficit-problem/

 

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.

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.

 

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.

Pants McPants's picture

Ahhh, I'm an idiot.  Thanks.

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! http://www.youtube.com/watch?v=f-EkkhJi9VY

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.

lieutenantjohnchard's picture

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

HedgeFundLIVE's picture

The last time Obama went to war with Wall Street, the biggest of the taxpayers, the market sold off hard: http://www.hedgefundlive.com/blog/thursday-market-expectations-jamie-dimon-gave-us-a-hint-today