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Frontrunning: July 21
- E.U. Test May Need to Fail Some Banks (NYT)
- BOE's Posen: More Bond Buys the Most Likely Next Move (WSJ)
- Vince Reinhart: Setting the table for fiscal restraint (American)
- The View From Bernanke's Perch at the Fed (WSJ)
- Fed in Hot Seat Again on Economic Stimulus (NYT)
- Krugman versus Ferguson: round two (Telegraph)
- European Bank Stress Tests Said to Describe Three Scenarios (Bloomberg)
- Derivatives reform to punish property industry (FT)
- Double dip in the baltic (Telegraph)
- FDIC chief warns over capital standards (FT)
- Euro-dollar at lows, weighed by weak EMU bond auctions (Market News)
- Why Are Banks Withholding Highend Repossessions Over $300,000 From the Market? (REChannel)
- Bond Default Means Too Much Debt, Too Little Time (Bloomberg)
- Hoyer Says House Will Debate China Currency Manipulation Bill (Bloomberg)
- Housing Still Built on Sand (Barrons)
- BOJ Deputy Yamaguchi Says Volatility Rising in Sign of Japan Recovery Risk (Bloomberg)
- How to Cap a Banker’s Bonus (Miller McCune)
- Malaysian Inflation Accelerated to 1.7% in June, Fastest Pace in 13 Months (Bloomberg)
- India says farms key to matching China (FT)
- A sunlit Keynesian paradise awaits our grandchildren (FT)
»
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interesting article from REChannel
Yes, but we've known for quite a while that the banks have been holding back in order to keep properties on the books at full value. That's, of course, due to the absolute joke that the FASB has become in letting the banks mark-to-fantasy.
How anyone could have faith in this fucked up financial system we have in this country is beyond me.
Dont be puzzled - No one does.
besides all the inventory, look at this stat:
The Miami metro had the highest percentage of any metro in the country at the end of this year's first quarter - 28%. This means that more than ¼ of all outstanding prime mortgages in Miami were either in the foreclosure process or almost certainly heading there.
Ivan,
Some things never change..........
"The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance." - Cicero - 55 BC
WSJ says Bennie sould buy more Treasuries - even if that mena hysterical cries will go up that he is " Monetizing Govt Debt" - hah - Look people need to know - no matter what ben does - you SHALL not call it "Monetizing the Govt Debt" ( OK!!?). That just so un American.
Look - its just like - lets see - well - OK - like - you find some scum bag and knock him around a bit - like pt his head under water till he screams . Now then - that is not - trepeat - NOT - torture OK?!! Not if it is done by a bonafide American Dude. OK?
Remember, Wendsday is Soylent orange day.
Tuesday is Soylent green.
Listen up - Bennie was right - he does have the ability to prevent "deflation". he can print money and buy just about anything - evrything. And the best part is is - it wont cause inflation.
No - it causes - Communism. Yeah - see - when Bennie owns everything - it aint a capitalist economy no mo. In fact it is exactly like the the recently departed USSR.
Sooo - why is it that Bennie winds up owning everything? Eh? Why does'nt the guy who saved a few bucks over 30 years of toiling in the hot sun ( in a manner of speaking) - get to buy those assets?
Because - well - for Bennie - price is no object. Since he can create Trillions of so called Dollars out of thin air without ever stepping out of his office - or even getting up from his well upholstered sofa.So he can always outbid anybody - al in the name of preventing "deflation" - or in other words letting things find their value in the real market place.
OT. What happened to the market today? Was solidly green pre-opening (was expecting Dow to be up at least 60 points) but the market promptly went red on opening.
Haven't the traders received their marching orders for today?
Or did the powers-that-be want to test if the market can lift itself based on seemingly positive news flow?
May "need" to fail some banks.
Curious languaging.
News is getting weirder by the day.
ORI
http://aadivaahan.wordpress.com
This is the new transparency. They are letting us know in advance how and why results will be faked. This shows respect for the public's intelligence, that they don't expect anyone to actually believe them. We in turn should pretend to be impressed. It's all for the best really.
Just waiting for the 1430 PPT rally
noticed there is a link to zerohedge in the first paragraph of ambroses article. nice to see.
http://www.nytimes.com/2010/07/21/us/21brfs-NODEBARKINGS_BRF.html?_r=1&src=mv
New law dictates 5 years prison if you have your dog surgically debarked by a veterinarian in Mass.
Having your unborn human baby surgically killed by a physician is still your choice to make.
Likewise, having your child's stomach surgically shrunk (gastric bypass) by a surgeon to keep him or her from eating too many Happy Meals is still your choice to make.
hedgless,
Yeah, 50 million plus WOULD be taxpayers?.
Like, how to AGE the population artificially...............NO one ever thought of that.............I bet.( Useless Eaters )
But, that's why we need Illegals?............to do jobs (until now) Americans We Be So Cool, we cannot soil our lily whites.........
We have too many people. What should we do?
We will promote abortion and homosexuality.
You mean killing their own children and taking it up the ass like in prison? The people will never go for it.
Fear not, we have the media on our side.
Won't we come across like heartless psychopaths?
No. We will show compassion for life by passing laws against cruelty to animals.
Whatever you say; you have a PhD.
Alex, I'll take "Greatest Threats" for $200, please.
In the new world order, what will we have to worry about?
WWIII?
Sorry...the correct answer is NSA.
http://rawstory.com/rs/2010/0721/nsa-112-acres-parking-spaces/