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Frontrunning: July 20

Submitted by Tyler Durden on 07/20/2011 08:20 -0400

Proposals Emerge to Curb Greek Debt Load (WSJ)
IMF Warns Euro-Zone Crisis Risks Global Spillover (WSJ)
Senators craft potential escape from default (FT)
In response to Geithner's Op-ed: Little to celebrate on Dodd-Frank’s birthday (FT)
IEA not decided on second oil release – Tanaka (Reuters)
Papandreou Sees Make-or-Break Time in Crisis on Eve of Summit (Bloomberg)
Alan Beattie: Let Europe pay for its policy failures (FT)
Berlin and Moscow leaders foster trade ties (FT)
China's moderating growth to aid inflation fight (Reuters)
Give Greece What It Deserves: Communism (Forbes)
IMF Signals BOJ Could Buy More Assets as Price Outlooks Diverge (Bloomberg)
Joke Is on China as U.S.’s AAA Becomes Laughable (Bloomberg)
Ahluwalia Sees Several Months to Bring India Inflation to Acceptable Level (Bloomberg)

European economic snapshot:

Euro-Zone Consumer Confidence -12 - lower than expected Consensus -10.2 Previous -9.8
Germany Producer Prices for June 0.1% mom 5.6% yoy higher than expectedConsensus 0.0% mom 5.5% yoy Previous 0.0% mom 6.1% yoy
Italy Industrial Orders s.a. for May 4.1% mom higher than expectedConsensus 2.3% mom Previous -6.0% mom (Revised from -6.4% mom)
Italy Industrial Orders n.s.a. for May 13.6% yoy higher than expected Consensus 10.2% yoy Previous 5.8% yoy
Italy Industrial Sales s.a. for May -1.7%momPrevious 1.5% mom
Italy Industrial Sales n.s.a. for May 10.8% yoyPrevious 14.3% yoy (Revised from 14.2%yoy)
Italy Current Account for May -5094MPrevious -5604M
UK Bank of England Minutes

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Wed, 07/20/2011 - 08:25 | 1473240 idea_hamster

Wed, 07/20/2011 - 08:29 | 1473249 markmotive

49% of Americans think the debt ceiling shouldn't be raised: http://www.planbeconomics.com/2011/07/20/what-do-americans-think-about-t...

Wed, 07/20/2011 - 08:56 | 1473289 Sudden Debt

Yeah... just put that in the idea box. If the box if full, you'll be the one who will have to pay for the gasoline to torch it and buy a new box.

Wed, 07/20/2011 - 12:41 | 1474222 IQ 145

Decaf; decaf tastes okay, really. And then you won't be so upset.

Wed, 07/20/2011 - 08:53 | 1473303 snowball777

"...if the debt ceiling is not raised – 51% think the U.S. would probably not default on its debts."

And 75% of them believe in angels.

Wed, 07/20/2011 - 08:57 | 1473314 Sudden Debt

and 37% believes that aliens have visited the earth.

and 99% has no money invested PM's.

go figure...

Wed, 07/20/2011 - 08:26 | 1473243 GeneMarchbanks

Joke Is on China as U.S.’s AAA Becomes Laughable (Bloomberg)

U.S to China "jus keeeeddinng"...

Wed, 07/20/2011 - 08:59 | 1473319 Sudden Debt

It's actually good for them to fight of their inflation problem and gives them a excuse to also print more money.

Wed, 07/20/2011 - 08:29 | 1473248 PaperBear

"IEA not decided on 2nd IEA oil release - Tanaka"
Yeah, there needs to be another one because the first was so effective (sarc)

Wed, 07/20/2011 - 08:30 | 1473252 PaperBear

"Give Greece What It Deserves: Communism (Forbes)"

Yeah, while the ultra-wealthy can buy everything Greek for "pennies on the dollar".

Wed, 07/20/2011 - 08:45 | 1473279 youngman

The Greeks right now are seeing how much they can steal from the other countries before they close up shop.....Tourism is over..they will be rioting and striking for years now...their infrastructure will fall apart..its over for them...it will be an interesting petrie dish experemint of the fallout....

Wed, 07/20/2011 - 08:32 | 1473259 PaperBear

"IMF Signals BOJ Could Buy More Assets as Price Outlooks Diverge (Bloomberg)"

Yeah, we need more QE (sarc).

These guys are lunatics.

Wed, 07/20/2011 - 08:38 | 1473270 Catullus

The latest Krugman conspiracy theory is an incredible joke this morning.

http://krugman.blogs.nytimes.com/2011/07/19/the-glenn-beck-debeers-conne...

HOW COULD WE NOT HAVE SEEN THE DEBEERS/GOLDLINE PARALLELS?!!! HAHAHAHA.

Wed, 07/20/2011 - 12:50 | 1474253 IQ 145

Wow. thanks for the post. Krugman is completely un-wired. Another Nobel winner who is totally denounced reality in favor of his own lunatic world. Very funny. very impossible. very good reason to remember to never read the NY Times; none of their writers has any idea what reality looks like.

Wed, 07/20/2011 - 09:02 | 1473272 Careless Whisper

Patent Attorney Accused of Being iPerp

http://www.nypost.com/p/news/local/manhattan/beau_in_iphone_attack_ZMdQa...

Wed, 07/20/2011 - 08:45 | 1473281 Johnny Lawrence

Silver is being buttraped this morning.

Wed, 07/20/2011 - 09:23 | 1473373 Bob

After yesterday's action, it looks like just a little post-coital spooning to me.

Wed, 07/20/2011 - 08:47 | 1473288 snowball777

continue to use public money to finance Greece, but collect part of it through a tax on banks or other financial-system actors.

The "only put the tip in" plan.

Wed, 07/20/2011 - 08:59 | 1473318 Careless Whisper

Wendi Deng (aka Wendy Murdoch) Hailed In China As "Tiger Woman"

http://www.guardian.co.uk/media/2011/jul/20/wendi-deng-china-rupert-murdoch

Wed, 07/20/2011 - 09:06 | 1473338 Careless Whisper

U.N. Considers New "Peacekeeping Army" For Global Warming

Dubbed "Green Peacemaking"

http://www.guardian.co.uk/environment/2011/jul/20/un-climate-change-peac...

Wed, 07/20/2011 - 09:09 | 1473343 Silver Dreamer

Prepare for the day your money buys nothing:

http://www.realclearpolitics.com/video/2011/07/19/ron_paul_we_will_default_because_the_debt_is_unsustainable.html

This video of Ron Paul has probably been posted elsewhere on ZeroHedge already, but I wanted to make sure people saw it. I apologize in advance if it is a duplicate post.

Wed, 07/20/2011 - 09:14 | 1473358 Careless Whisper

Quote of the day:

"You can keep the meat dress and the firecracker tits – mermaid's mine,"

... Bette Midler accusing Lady Gaga of stealing her Mermaid in a wheelchair routine.

http://www.youtube.com/watch?v=djWgP2Z6reE

Frontrunning: July 20

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