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Frontrunning: March 3
- China's hidden debt to reach 96% of GDP, compared to the IMF's estimate of 22% (Bloomberg)
- Here come the idiots - Banks summoned to EU to discuss sovereign CDS market (Bloomberg)
- Upwardly biased ADP continues longstanding tradition of prior downward revisions (Bloomberg)
- US said to tell hedge funds to save euro records (Bloomberg, first reported on Zero Hedge)
- SEC supervisor surfed tranny porn to cope with stress [and self-loathing from working for an incompetent bureaucracy] (Dealbreaker, h/t plastic man)
- Europe's original sin (WSJ)
- Rumors of Ukraine's default to become certainty: Tymoshenko loses Ukraine vote, moves into opposition (Bloomberg)
- And so the Fed and Goldman HoldCo win again: Consumer agency within Fed seen as victory for the banking industry (Bloomberg)
- Betting on the blind side (Vanity Fair, h/t Tim)
- How high could the US tax rate go? (Time)
- Greece: from hard money to fool's gold (Merk Funds)
- Even the dead cats aren't bouncing (Financial Armageddon)
- US dollar best in a bad neighborhood (Reuters)
- Morgan Stanley's secret Japanese weapon (Deal Journal)
»
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Master Bates was busted surfing tranny porn? But he has a girlfriend! Say it ain't so Master Bates. Say it ain't so.
That's not cheating... his gf doesn't have a penis.
"China's hidden debt to reach 96% of GDP, compared to the IMF's estimate of 22%".
As it turns out our communist friends are just as bad as managing their finances as we are. But don't worry, the vampire squid will set up a currency swap to hide this mess while the Fed will print our way to prosperity.
Are they just as bad or realize that it is the only way to keep the FED in check. Hopefully they have informed the FED that they indeed do have a Doomsday machine. Because not telling anyone defeats its whole purpose. (Dr strangelove)
The lesson for today. You can short fiscally irresponsible emerging market nations... you cannot short fiscally irresponsible developed nations...
You got to love this new double standard.
re: Here come the idiots. There's plenty of idiots in Washington too. Now more software with bugs, added on top of software with bugs --- to protect us from ourselves of course:
http://www.nytimes.com/2010/03/03/business/global/03toyota.html?hpw
Who are these brilliant economists? We would get better numbers from the bookies in Vegas. Anybody see a line on this?
Good read:
Betting on the blind side (Vanity Fair, h/t Tim)
The last 2 pages of this article sums up sell side WS. What a joke. The Goldman salesperson part alone deserves its own post on ZH
Why is Ukraine certain to default b/c Tymoshenko will not be President/Premier? That is ridiculous. If, Ukraine does default 2011 will be the earliest and it will not be b/c Tymoshenko lost the election. She is about Pro-West as the US Gov is pro American. She is pro-Tymoshenko pro-oligarch for her faction. Just like the US has its Oligarchs and special interests which call the shots, Ukraine is no different. If those interests decide that its best to default, then so be it, but it will have nothing to do with Tymoshenko. It would have occured no matter what.
*whisper*
This 23 theme agenda of the Euro shorting hedge funds is most probably a german infiltration of the US financial system to boost german exports.
Unfortunately now our (german) agents were discovered :-( .
The dude at the SEC has nothing to worry about... Apparently noone ever gets in trouble with the SEC!
"Rumors of Ukraine's default to become certainty: Tymoshenko loses Ukraine vote, moves into opposition..."
They had a vote in Ukraine? You mean the entire population of the country isn't dead already? Did anyone tell project mayhem?
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