Frontrunning: October 6

• It's Time for a 21st Century Gold Standard (Fox)
• Foreclosure Furor Rises; Many Call for a Freeze (NYT)
• IMF chief warns on exchange rate wars  (FT)
• IMF Cuts U.S. Growth Estimates as Consumer Spending Languishes (Bloomberg)
• As predicted on these pages about 2 weeks before everyone else, Wall Street downbeat on bank earnings (FT)
• The Recipe for Collapse (Of Two Minds)
• NYT on the chaos at bankrupt Tribune (NYT), sexy-man Sam Zell responds (Poynter)
• U.S. praises Japan PM over China row, stresses ties, (Reuters) and picks wrong side of conflict
• Retailers' Holiday Hinges on Discounts (WSJ)
• Whitney Falters in Trying to Repeat Success of Citigroup Call (Bloomberg)
• JPMorgan tops investment bank fee rankings (Reuters)
• How To Fight Currency Wars With China (FT)
• Costco quarterly profit rises, no doubt on sales of armageddon rations (Reuters)
• Bernanke Counters Fed Unity Doubt as Regional Chiefs Echo (Bloomberg)
• The Chapter 11 Challenge to Delaware (NYT)
• Wall Street Says Women Worth Less as Disparity Over Pay Widens (Bloomberg)
• More brilliant advice from the man who saw the Recovery as the economy collapsed into a Redepression: Credit for the Recovery (Daniel Gross)

Comments

[buzzsaw99]

U.S. praises Japan PM over China row, stresses ties, (Reuters) and picks wrong side of conflict

care to elaborate?

[e1618978]

The gold standard would not work, as the amount of gold mined is independant of the need for money.  When you didn't mine enough gold you would have massive deflation, and that would be all the time.

[e1618978]

Plus - it puts you at the mercy of the fiat countries, who can eat your lunch via devaluation to get full employment in times like these.  Re-instating the gold standard would be a horrible idea.