Frontrunning: August 20

• BP Oil Spill Leaves a 22-Mile Plume Migrating in Gulf of Mexico (Bloomberg)
• China May Introduce Stimulus to Boost Imports (China Daily)
• and yet, China Stocks Fall, Paring Weekly Gain, as Developers Decline on Inflation (Bloomberg)
• All over for the non-HFT quants? Shrinking ‘Quant’ Funds Struggle to Revive Boom (NYT)
• Weber Says ECB Should Plot Out Exit in First Quarter (Bloomberg) and appropriately, Trichet's Successor as ECB Head Doesn't Need to Be a Diplomat, Weber Says (Bloomberg)
• Russia Opening Iran Nuclear Plant Helps Bid to Be Power Broker (Bloomberg)
• The realization that financial monopolies (Goldman, Pimco) are bad is spreading: How Pimco Is Holding American Homeowners Hostage (Minyanville)
• We can't afford this government - Costs of bureaucracy spread like a deadly virus (WashTimes)
• Euro Founding Father Works for Free Rescuing Greeks (Bloomberg)
• U.S. Ability to Avoid Deflation Hinges on Fed: S&P (Reuters)
• Obama's Point of No Return (American Thinker, h/t John)
• Housing Can Find a Home Without Fannie, Freddie (Bloomberg)
• Japan Debates How to Stimulate Growth (WSJ)
• Waste Management Founder Huizenga Launches Fourth Act (Bloomberg)
• McDonald's Sells Yuan Bonds in Benchmark for China (Bloomberg)
• U.S. Budget Office Warns Over Extending Tax Cuts (FT)
• And last, Krugman: Appeasing the Bond Gods (NYT) - someone please explain what excess reserves, PDs, and UST Dutch Auctions are to the Nobelist

Economic Data:

• New Zealand Net Migration SA for July 970.Previous 70.0.
• New Zealand Credit Card Spending for July 2.7%.Previous 4.5%.
• New Zealand Credit Card Spending SA for July -1.2%.Previous 1.0%.
• Japan Convenience Store Sales for July 0.5%.Previous -1.5%.

Comments

[etrader]

Greek bank suffer a record loss of deposits

HSBC said banks had lost 8pc of their entire deposit base in the five months to May. "The Greek market has never, since the first data in 2001, experienced such attrition," said banking analyst Joanna Telioudi.

Maybe some one needs to tell our friends at RBS ;>)

http://www.telegraph.co.uk/finance/economics/7954981/Greek-crisis-refuse...

[Careless Whisper]

front-run this too:

hiding in plain site...

Castro quotes book about Bilderbergers

http://news.yahoo.com/s/ap/20100818/ap_on_re_la_am_ca/cb_cuba_castro_bil...

[Steak]

Things I like in the morning

1) energy drinks
2) chicken biscuits
3) tunes

hopefully y'all got the first 2...and if you don't have the 3rd...boosh :)
http://www.youtube.com/view_play_list?p=DBB6891B8CA31A85

[Ruth]

I DO like amnesia in the morning;)

[kathy.chamberli...]

that's the best solution yet, R U T H. i just forgot the clinical name.

[kathy.chamberli...]

hey Steak   i emailed your list play to my child. she thought it was

g g g g G R E A T (like you, tony the tiger)†

[kathy.chamberli...]

4) toy joy

[papaswamp]

Via seekingalpha.com Llyods pulls out of Ireland.

"LONDON—Lloyds Banking Group PLC said it is pulling out of Ireland, highlighting the continued woes facing the country's banking sector and economy."

http://online.wsj.com/article/SB1000142405274870379180457543953375679826...

[Problem Is]

Minyanville and PIMPco:

" It turns out that the real vampire squid wrapped around the face of the American taxpayer isn't Goldman Sachs after all. Instead, it's surely the Pacific Investment Management Co."

Yeah well, in a fixed market oligarchy of corrupt fraudsters... Oligarchy does mean small number of large interdependent (read: RICO) firms...

There IS room for two squids...

[Jim B]

+1000, Crony Capitalism!

[John Self]

That Minyanville article was especially strong.

[Jim B]

Krugman = Broken Record = Fiat Ponzi Scheme

[Azannoth]

"We can't afford this government - Costs of bureaucracy spread.." ever since 'Barry Pinnochio' became president the phrase 'Unsustainable Debt' got a new meaning, before it meant that you could live with it for a while, now it means You have to roll over a Trillion a week in Treasuries

[kathy.chamberli...]

pine nuts barry. they probably are that size. funny.

[goldfish1]

The bloomberg article about the spill continues with government propaganda:

"The Obama administration’s Aug. 4 report indicated that almost three-fourths of the crude that leaked has disappeared or soon will be eaten by bacteria. Jane Lubchenco, administrator of the National Oceanic and Atmospheric Administration, has said at least half of the oil released is now “completely gone.” "

[Maniac Researcher]

This is a fun one, too:

http://www.nytimes.com/2010/08/20/business/20tax.html?_r=1&src=twt&twt=n...

[Herry12]

There are certainly a lot of details like that to take into consideration.I read and understand the entire article and I really enjoyed it to be honest.
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