Frontrunning: August 3

• Tim Geithner just broke every lie detector in the country: Welcome to the recovery (NYT)
• Treasuries Lack Safety, Liquidity for China, Yu Yongding Says: U.S. Treasuries fail to provide safety or liquidity when it comes to managing China’s $2.45 trillion foreign-exchange reserves, said Yu Yongding, a former central bank adviser. “I do not think U.S. Treasuries are safe in the medium- and long-run,” Yu, a member of the state-backed Chinese Academy of Social Sciences, wrote yesterday in an e-mailed response to questions. China is unable to sell the securities in a “big way” and a “scary trajectory” of budget deficits and a growing supply of U.S. dollars put their value at risk, he said. (Bloomberg)
• China won't relax property measures (China Daily)
• Japan Finance Minister: Markets Should Set Yen’s Rate (WSJ)
• Weber is a Bad Choice to be EU’s Top Banker (FT)
• David Stockman channels Herbert Hoover (Barrons)
• The next sovereign debt crisis... will be here (The American)
• Here comes food inflation: Rise in Wheat Prices Fastest Since 1973 (FT)
• The Death of Market Fundamentals (Jim Sinclair, h/t Kyle)
• Property Slump Adds to US Muni Woes (FT)
• Big Investor Gives Up on Funds of Hedge Funds (WSJ)
• Taleb: The Regulator Franchise, or the Alan Blinder Problem (Huffington)
• Tavakoli: Stranguflation: Deflation and Inflation Where It Hurts America Most (Huffington)
• New Zealand's Economic Growth Buoyed by Exports to China, Treasury Says (Bloomberg)
• Reich: The Obama agenda and the enthusiasm gap (WSJ)

Comments

[Headbanger]

“If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State.”

Joeseph Goebbels

[Anarchist]

Deflecting blame has been effective throughout history. How many times have the Republicans pulled out the race card, Communism, Socialism, radical Islam or immigration over the last 40 years? They always know what tired old boogey man to resurrect. The main problem is that the majority of Americans are morons and fall for it every time. You can't fix stupid.

[Internet Tough Guy]

Food prices up, oil over 82...this deflation is killing me!

[AN0NYM0US]

Stranguflation

[Marvin_M]

Geithner: a riddle wrapped in a mystery inside a douche bag...

[rapunzel]

damn, max's hair was a little funny today. plus has he started wearing glasses, all the time? he sure is cute.

well, janet is a sweetie, plus smart. exact opposite of that bitch ayn rand. tough watching her in that video, scary actually, someone with that face had so much influence. but guess that is good that alan greenspan could adore her for her mind.

[Sisyphus]

Velobabe?

[rapunzel]

not tellin', can't talk about fight club, remember‡

[Sisyphus]

You just did. Don't worry, your secret is safe.

[Sisyphus]

Anybody else getting this message below the title of the article, while responding to posts?

Unable to send e-mail. Please contact the site administrator if the problem persists.

Are emails being generated, and to whom, when comments are being posted? I have a screen shot of the message if anyone is interested.

[Lux Fiat]

Checking when replying. Nothng.

[Sisyphus]

Thanks! Seems to have been fixed now. My hunch is, once a post is submitted, an email is generated for the Admins or another entity. This morning, when I posted, that function failed and raised an error. Hence, the message was displayed to me, at least. Big brother?

[Astute Investor]

Turbo Tim trying to deflect the criticisms from those nattering nabobs of negativism?

[senthil456]

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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