Frontrunning: July 28

• Ratings Understate ‘Dangerous’ Chinese Local Government Risks, Dagong Says (Bloomberg)
• Arcelor Mittal warns on pace of global recovery (FT)
• Portugal Takes Eurozone Derivatives Set-Aside Decision (FT)
• Ready for the Next Trillion-Dollar Bailout? (Heritage Foundation)
• Drip after drip of deflation data (Telegraph)
• Atlas Didn't Shrug; He's just sitting on his hands while he confronts regulatory and tax uncertainty. (Barrons)
• Gold bears are wrong, smart money isn't selling (Minyanville)
• Deutsche Bank Shutting Commercial Real Estate Adviser Group (Bloomberg)
• German Jobs `Miracle' Comes at a Price for Recovering Economy (Bloomberg)
• Treasury Moves on US Housing Finance Reform (FT)
• World economy: vulnerable to vertigo (FT)
• More Jim O'Neill tragicomedy: To Build a Big Society, We Must Be Prompt (FT)

Comments

[curbyourrisk]

Gold bears are wrong, smart money isn't selling.

To quote Lacy J. Dalton

Everyone makes mistakes!

[Hunch Trader]

Wasn't it Jesse Livermore himself who knew that you make the money by selling on the way down because it's much of a pipe dream to be able to unload a huge batch exactly at the peak.

[Spitzer]

A peak in gold eh ?

what about Treasury's ? no bubble in them ?

[Hondo]

The article concerning Portugal (setting aside cash for derivative positions) is interesting.  How many countries actually use derivatives and for what reason?? (The US doesn't...does it??).  How does this, if at all, relate to the $14billion gold swap at the BIS and Portugal??

[tip e. canoe]

hondo, the U.S. IS a derivative.

[Oh regional Indian]

Now there is a deep set of headlines. The news stories are just spin. Mostly.

Vulnerable to vertigo caught my eye. Very apt. We are waaaay up there, out of our skins and minds, flailing away in a self-created, hostile environment. The New India is a startling example of that.

Looking down is dangerous. Upward! Vini! Vici! Etc.

ORI

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