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Frontrunning: July 12
- Kan election loss may impede effort to cut debt (Bloomberg)
- Chinese Dagong credit rater gives China higher credit rating (AA+, stable) than US (AA, neg outlook) (BusinessWeek)
- Staring into the abyss (Economist)
- Bank profits depend on debt-writedown abomination (Bloomberg)
- Niall Ferguson: "A US debt crisis is on its way" (TechTicker)
- If BP asset purchase rumors are true, Apache is about to incur a whole lot of extra debt (Bloomberg, WSJ)
- Housing gets sick on Keynesian rollercoaster (Bloomberg)
- CNBC regular Judd Gregg sees FinReg bill passing (Reuters)
- UK recession worse than once thought (FT)
- Deflection: Santander to buy SEB's German branches (Bloomberg)
- Blackstone to run Bank of America fund (FT)
- Divided Ft. Worth office of SEC of SEC was plague by inaction (Star Telegram, h/t Janet Rhino)
- Profits rise but clouds gather (WSJ)
- Here's how you quickly create jobs (RCM)
- Krugman - The feckless Fed's deflation problem (NYT)
- Fleckenstein - the market's best bet (MSN)
- How I stopped worrying and learned to love the double dip scare (Morgan Stanley)
- Harry Schultz on the Power Elite, Free Markets, the Internet and Why Gold Is Going Much Higher (Daily Bell, h/t Kyle)
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Another tidbit that tells it all
More Americans' credit scores sink to new lows
1 in 4 American consumers are deemed risky as more credit scores sink to lows of 599 or lesshttp://finance.yahoo.com/news/More-Americans-credit-scores-apf-490198280...
No problem, Leo Kovalkis has said its the roaring '10's again on deck! Banks are hoarding cash and that Baltic Dry index is an 'unreliable indicator', oh happy days.
If there was ever any doubt about where Barry Ritholtz places his loyalties the following may provide some enlightenment as he explains his relationship and respect for everyone's favorite economist (who actually is an economic reporter and not a real economist sort of like the channel seven weather girl who is not a meteorologist) :
Steve Liesman and the Fed's Balance Sheet
http://www.ritholtz.com/blog/2010/07/steve-liesman-and-the-fed%E2%80%99s...
Still loving my EUR/USD short at 1.2676 , so where is Goldman standing this week after another week of losses to their clients on another poor FX call ROFL
All you have to do is opposite of what GS does to make your dough
Kan election loss may impede effort to cut debt - How long before Japs grease (greece) out?
From the Bloomberg housing stimulus article:
"A 2003 study of Keynesian policies in 91 countries performed by economists Antonio Fatás and Ilian Mihov and published in the Quarterly Journal of Economics, concluded that, “governments that use fiscal policy aggressively induce significant macroeconomic instability.”
From now on, economic releases should have the following disclaimer in an opening footnote, “The economic roller coaster you are riding has been presented to you by your friendly neighborhood Keynesians.”"
Did the SNB waste again a few billion of tax payers money this morning: between 8AM and 10 AM the rate went up from 1.33 to 1.34?
Updated DOW charts etc.
http://stockmarket618.wordpress.com
http://www.zerohedge.com/forum/latest-market-outlook-1
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