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Frontrunning: July 19
- Obama to call for extension to jobless benefits (CNN)
- Yen Surge Puts Investors on Alert (FT)
- Soros Says U.S. Shouldn’t Cut Stimulus as Inflation Contained (Business Week)
- Yuan Drops Most in Two Weeks on Speculation China Will Curb Appreciation (Bloomberg)
- Stress-testing Europe's banks won't stave off a deflationary vortex (Telegraph)
- BP Talks With Apache Said to Stall on Selling Prudhoe Bay Stake (Bloomberg)
- German Industrialists Attack Chinese (FT)
- China Export Growth May Halve to 16% on European Debt Crisis, Tax Changes (Bloomberg)
- How I Stopped Worrying and Learned to Short the Euro (Bloomberg)
- Bankers concerned over stress test results (FT)
- The Volcker Rule: Obama’s economic adviser and his battles over the
financial-reform bill (New
Yorker) - Germany Sells E1.715 Bn April 2011 Bubills, Avg Yld 0.5500% (Market News)
- Greece Braced for Consolidation (FT)
- BP Well Boss Could Shed Light on Cause of Gulf Oil Disaster (Bloomberg)
- Three little pigs: How entitlements will destroy us (Post)
- Larry Summers OpEd: America’s sensible stance on recovery (FT)
»
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Must... find... duct tape.
Head... exploding.
Sheesh - Obambi EUC 4EVA, Soros, and Summers in one chunk. That's tough stuff, there.
re: L Summers OpEd article. How did this guy get to be where he is today? Anyone?
i sucked a lot of cock to get where i am - regurgitator
http://www.youtube.com/watch?v=zVG-xr4BcBo
Soros must be short the dollar
"Bankers concerned over stress test results (FT)"
Yeah right!!
Rock, are you the first on ZH to use 'THAT painting of Cramer' as your avatar?
CogDiss had this to ask:
http://www.zerohedge.com/article/presenting-annotated-cramer#comment-473656
No, it was "Top_Kill" that got the honors:
http://www.zerohedge.com/article/presenting-annotated-cramer#comment-473706
Dr. Paul Craig Roberts interviewed by Keiser.
Out Sourcing of Labor = Dis-Development = Undeveloped Economy = USA 3rd World Status
http://www.youtube.com/watch?v=rVUVQMUtsM0&feature=player_embedded
http://www.youtube.com/watch?v=eiYZHpKFTVc&feature=player_embedded
http://www.youtube.com/watch?v=GeeePaoMPQI&feature=player_embedded
But Dr. Roberts is still addressing only the symptom. The real issue is the USD's reserve currency status that is causing the rest of the world to remain cost competitive against the US on any terms as they need to earn USD to purchase oil and other commodities that are denominated in dollars.
US economy has benefited from this global financial system denominated in USD as it has allowed it to print and consume (endless entitlement payments) without severe inflation, overdevelop the US military and consume commodities with mere printing of dollars and allowed the US bankers to buy up real assets in the rest of the world with a currency that they are advantageously positioned in and can create debt in. The downside is that to have the rest of the world engage in this financial system, US has had to allow unrestricted imports so that the rest of the world can "earn" dollars. Thus, offshoring and inability to enforce protectionist barriers.
Easy way to reverse this situation is to voluntarily accept a basket of currency/SDR as reserve currency and then the normal devaluation/revaluation of the USD in relation to the new reserve currency would allow the US to remain competitive and thereby save manufacturing/knowledge jobs.
But, from what I have seen, the political class in the US would be loathe to lose the reserve status and the US population will find out that the loss of the reserve currency status brings its own set of pain points which the rest of the world has been dealing with on a day to day basis. So, it is naive to think that just adopting protectionist policies is going to cause flooding back of all those lost jobs. And to think that somehow that the US has accepted this global financial system arrangement that is to it's disadvantage. Net net, this system is still hugely advantageous to the US but it has some costs in terms of deskilling of the population and loss of employment.
To say that there is an >>>>>>>>>issue<<<<<<<<<< is to say somehow that this reality is not as it should be.
That is not correct.
This reality is a perfect combination of lack of personal responsibility by 99.99999% of the world's populace and the rest of the folks here having to teach those masses via nasty lessons and lots of bottom wiping.
If you might entertain changing your perspective, you will note that you have stopped bitching continuously about "what is not" and start looking deeply at the beauty of what is.
>>>Nice Baby, Have a Dorito! Did that MSG damage your widdle brain? Awwwww. So sorry. How about some Nutrasweet? Did that methanol (10% Aspartame metabolizes immediately to methanol, which in turn can not be eliminated by the body and is metabolized to formaldehyde [so they are becoming Zombies, one Diet Soda at a time]) make your eyesight dimmer? Hurt your memory? Awww. Have a pizza! Watch some jiggly titties!<<<
This IS the service industry.
fossils like soros live forever. tell that maggot to stfu.
Yes, buzzsaw, undoubtedly Soros only has altruistic impulses for the US when he proffers advice!
Doc,
Soro's is SO deep in bed w/the Obamster, that Michelle has to sleep in the middle.
The daisy chain of the ties to the NEW Legislation that's been passed, goes directly back to SORO's, and his design's for America.
He is not only profiting massively off us now, he will soon be the major puppeteer of the Cap n Trade fiasco, that's going to rape,pillage and burn more of us down.
The circle of direct business tied to this admin, is unbelievable.........and that business is making us serfs/peons, and them Kings.
Every Bill that's been approved DAMAGES, or will destroy what's left of corporate America, and most,if not all small business's.
Exactly WHERE would MR. ANTI AMERICA SORO's, have more QE going...............
"Soros Says U.S. Shouldn’t Cut Stimulus as Inflation Contained (Business Week)"