Frontrunning: July 20

Tyler Durden's picture
  • 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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Sudden Debt's picture

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.



IQ 145's picture

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

snowball777's picture

"...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.

Sudden Debt's picture

and 37% believes that aliens have visited the earth.

and 99% has no money invested PM's.

go figure...

GeneMarchbanks's picture

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

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



Sudden Debt's picture

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


PaperBear's picture

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

PaperBear's picture

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

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

youngman's picture

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 will be an interesting petrie dish experemint of the fallout....

PaperBear's picture

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

Yeah, we need more QE (sarc).

These guys are lunatics.

Catullus's picture

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



IQ 145's picture

 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.

Johnny Lawrence's picture

Silver is being buttraped this morning.

Bob's picture

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

snowball777's picture

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.

Careless Whisper's picture

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

Dubbed "Green Peacemaking"





Silver Dreamer's picture

Prepare for the day your money buys nothing:

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.

Careless Whisper's picture

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.