Frontrunning: June 17

• Swiss parliament approves UBS-US tax deal (Reuters)
• Hello deflation my old friend: May consumer prices post biggest drop in 1.5 years (Reuters)
• Weil: Bailout nation will thrive as long as AIG lives (Bloomberg)
• China warns finger-pointing could derail G-20 (Reuters)
• More Spanish propaganda: Spain may use €30 billion euros for bank restructuring (Reuters)
• Why a second Enron/Skilling trial is a great idea (Post)
• Pimco's secular outlook for the UK (Pimco)
• Will oil drilling become a pipe dream? (Washington Times)
• Americans want BP to cover all losses (Gallup)
• Elliot Wave predicts triple-digit Dow in 2016 (MarketWatch)
• Humankind can not bear very much reality: Stop the mark-to-marker horror before it arrives (Forbes)
• BP bonds escape distressed list, trade as junk (Bloomberg)
• Murdoch offers freebies in pursuit of paywall readers (Bloomberg)

Comments

[Salinger]

Why is Tony Hayward so Happy?

CNN's AC360 from last nite

http://www.youtube.com/watch?v=dnVi155xfHw

[spekulatn]

He's in on the sabotage?

http://www.youtube.com/watch?v=H4PN7Xbexq4

[thisandthat]

AC is Mucho Macho

btw, 20Bil/4Mil=5000$...

[dukeystick]

The governments inflation numbers are about as reliable as their UE and jobs numbers.  Nothing is more intellectually dishonest as "excluding volatile food & energy" prices.

As a small business owner in the retail food sector, I can tell you that my food costs and utilities, and all professional services - not to mention labor via the min wage mandates of the past 3 years - HAVE ONLY GONE UP.

If there is a valid reason for gold, it is NOT deflation.