Frontrunning: August 24

• Deflation: the Neutron Bomb of Balance Sheets  (and why Bernanke will destroy the dollar before he allows it) (Barrons)
• Captain Obvious headline of the day: Asia Slowdown to Have "Serious" on Affect Europe, Economy Chief Rehn Says (Bloomberg)
• Kan Says Yen Move Undesirable; Union Urges G-7 Action (BusinessWeek)
• BoE's Weale Says Britain Faces Recession Risk (Reuters)
• European Banks May Face More Frequent Stress Tests (Bloomberg)
• Libor Volatility is Price of Disrupted Credit (FT)
• We need more TBTFs around the world stat: Greek Banks Pressured to Merge as Economic Slump Hurts Profits (Reuters)
• Housing Slide in U.S. Threatens to Drag Economy Into Recession (Bloomberg)
• EU Ratings at Risk on Economy, Austerity - Moody's (Reuters)
• Fed's Hoenig Says Largest Banks Still Benefit From Government Safety Net (Bloomberg)
• Fed Split on Move to Bolster Sluggish Economy (WSJ)
• The Yen’s Lesson for the Yuan (NYT)
• Crash and burn -  Commentary: How bearish is the Hindenburg Omen? (Mark Hulbert)
• Obama Misreads Message of ‘Live Free or Die’ (Amity Shlaes)
• Is there a bubble in bond land?  (Alhambra)

European economic data - getting increasingly disappointing:

• Euro-Zone Industrial New Orders SA for June -0.6% m/m 5.7% y/y. Previous 1.3% m/m7.6% y/y (Revised from 1.8% m/m8.4% y/y)
• Germany GDP s.a. for Q2 2.2% in line with expectationConsensus 2.2% Previous 2.2%.
• Germany GDP wda for Q2 3.7% in line with expectationConsensus 3.7% Previous 1.6%.
• Germany GDP nsa for Q2 4.1% in line with expectationConsensus 4.1% Previous 1.7%.
• Germany Private Consumption for Q2 0.6% higher than expectedConsensus 0.4% Previous -0.8% (Revised from -0.1%).
• Germany Government Spending for Q2 0.4% lower than expectedConsensus 0.5% Previous 1.1% (Revised from 2.0%).
• Germany Domestic Demand for Q2 1.4% lower than expectedConsensus 1.5% Previous 1.4% (Revised from 1.7%).
• Germany Imports for Q2 7.0% lower than expectedConsensus 7.5% Previous 6.1% (Revised from 6.7%).
• Germany Exports for Q2 8.2% higher than expectedConsensus 7.9% Previous 2.6% (Revised from 3.1%).
• Germany Construction Investment for Q2 5.2% lower than expectedConsensus 7.3% Previous -3.8% (Revised from 1.2% ).
• Germany Capital Investment for Q2 4.7% higher than expectedConsensus 3.8% Previous -1.6% (Revised from 1.2%).
• Sweden Total Number of Employees for Q2 -0.6% Previous -1.5%.

Comments

[ZackAttack]

Grrr... that Barron's piece. You just want to grab them by the shirt and make them finish their though... "OK, now, think hard. How did we get to this state of affairs exactly?"

[Saxxon]

Typo in second banner: s/b "effect on..."

[Careless Whisper]

front-run this too:

Americans are finally realizing the truth about the liars and globalists, bernanke, volker, summers. Intentional implosion:

http://www.youtube.com/watch?v=XKaerfi9xrk

[mephisto]

Must Read piece on CalculatedRisk on the imminent Existing Home Sales figure.

http://www.calculatedriskblog.com/2010/08/lawler-existing-home-sales-con...

[kathy.chamberli...]

bye

[Grand Supercycle]

Updated S&P500 chart showing head and shoulders with target.

http://stockmarket618.wordpress.com

[Herry12]

Thanks for such a great post and the review, I am totally impressed! Keep stuff like this coming!...
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