This page has been archived and commenting is disabled.
Frontrunning: December 25
- Russia lowers key rate, kills carry trade. Merry Christmas, foreigners. ("In Soviet Russia, rates lower you") [bloomberg]
- Ethanol producers sue California to prevent low-carbon fuel restrictions. (Corn shortage forces greens to start to eating their own young?) [wall street journal]
- Latvia attempts to lower pension benefits to avoid fiscal meltdown. Courts: "Denied." Latvian PM: "We will just go bankrupt if we observe all legal norms" (Sufficiently satirical comeback fails me) [baltic reports]
- Increase in pension contribution requirement for NY Teachers causes rush to lock in old rates. (Officials shocked, shocked to find that rational actors avoid taxes) [wall street journal]
- Retailers extend Christmas hours to boost traffic. (Losing money for every open hour, but making it up on volume) [bloomberg]
- Dubai's Burj Dubai tower about to open as world's tallest building [in foreclosure?] (Maybe. Obama inspired transparency in government initiative forbids exact height disclosure) [reuters]
- FinCEN proposes sharing bank data with foreign officials. (KGB a/k/a "Goldman Sachs (Moscow)" to reopen economic espionage desk, install Rezident in Manhattan) [reuters]
- Japan's budget includes $484 billion deficit. 200% Debt:GDP just around the corner. (Obama: "Only $484 billion? You fail at fiat, Hatoyama.") [reuters]
- China revises energy per GDP unit use down to 5.2% 2007-2008. (Keynes resurrected! Taxpayer funded government stimulus double counts growth, single counts energy use) [financial times]
»
- 2849 reads
- Printer-friendly version
- Send to friend
- advertisements -
merry christmas Zero Hedge
Marla - Love ya
or I should say I you for your mind not your body since I have not seen it.
Keep up the good work
I love the long weekends and holidays for news they like to slip under the radar. More reading for sure.
Many thanx for all you do - the ZH family, contributors, and commenter's. Merry Christmas to all and wishing everyone a happy and prosperous new year.
Marla....your parenthetical commentary after each article summary is brilliant and brings much laughter! Thank you for letting that devious little brain of yours come out to play with the rest of us.
The best of the bunch might be the Latvian story (Sufficiently satirical comeback fails me) as the Prime Minister's words are simply the spot on truth (how does one effectively satire a plain vanilla factual truth?): "We will just go bankrupt....". Perhaps this is one of the many cracks in the wall to start opening on the sovereign debt front, unless, of course, one buys Jeff "we won't decrease the dividend" Immelt's postulation that all is well with GECC, including eastern europe.
As to the "greens...eating their own young", reminds me of the enviro whackos I have seen driving around with mulitiple "save mother earth" stickers bellowing black smoke out of a 1980s vintage Saab.
The article on the NY teacher's union is just one of yet many, many fine examples of the resounding spirit and competitiveness of New Yorkers as proof positive that we will NOT allow California to sprint to the finish line of the financial abyss uncontested.
Last one to default is a rotten egg!
I am Chumbawamba.
Many thanks guys, its good that someone is on guard out there.
Oh and sometimes its hard to even keep up, how the hell you do it ?! :)
Lemmie see here....
Well, ya. That is the way things work in a world where judicial exclusion is operative and parliamentary bodies are mearly advisory. What it especially noteworthy is that it is Latvia where one can find the roots of parliamentary democracy and a liberal judiciary deep enough to withstand the global assault upon the rule of law.
the reporter's name was cotten timberlake