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Frontrunning: October 7

Tyler Durden's picture




 
  • Greenspan Op-Ed: Fear undermines America’s recovery (FT)
  • Revision season begins: job losses in 2009 likely bigger than thought (Reuters)
  • The Mutual Fund in the 'Flash Crash' (WSJ)
  • Yen at fresh high amid intervention talk (FT)
  • Japan Says It Won't Join Currency Devaluation Race (Bloomberg)
  • Geithner Calls for Currency Cooperation Amid Rush to Weaken (Bloomberg)
  • Jonathan Weil debunks another government lie: why AIG's numbers are much worse than presented (Bloomberg)
  • Fed is banking on phony wealth effect (Reuters)
  • Fed Officials Mull Inflation as a Fix (WSJ)
  • NY Fed takes $180m hit on Hilton debt restructuring (FT)
  • Greek Services Paralyzed as Public Workers Strike Over Austerity (Bloomberg)
  • Coming Full Circle on Monetary Policy  (Barrons)
  • Sarkozy ‘urged SocGen to give in to takeover’ (FT)
  • German August Industrial Production Jumps More Than Forecast (Bloomberg)
  • U.S. Treasury wants weaker dollar (Fundmastery)
  • Coveted Beverly Hills property sold for $148.3 million (LA Times)
  • Lehman’s Do-Over Quest Runs Against Facts in Court (Bloomberg)
  • Alcoa Profit May Drop 29% as Weak Dollar Offsets Aluminum Price (Bloomberg)
 

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Thu, 10/07/2010 - 08:33 | 631813 Catullus
Catullus's picture

Re: Greenspan

Max keisar comments on Joe Biden and the janitor from Berkshire, the elite are beginning to blame the people and coaching us to "suck it up". The Greenspan "confidence" line is in the same line of thinking. These guys are out of bullets.

Thu, 10/07/2010 - 08:39 | 631826 Careless Whisper
Careless Whisper's picture

steve leesman to mohamed el arian on cnbc: "hey mohamed, how many mili-seconds does it take you to do a round trip trade?"

mohamed: "hehe lol haha"

steve: "oh i guess it's a trade secret."

 

 

Thu, 10/07/2010 - 08:40 | 631828 Sudden Debt
Sudden Debt's picture

Japan Says It Won't Join Currency Devaluation Race

WHOEHAHAHAHAHAHAHA!! +1000 LMAO!

SO WHAT HAVE THEY BEEN DOING THESE LAST FEW YEARS?

Thu, 10/07/2010 - 08:47 | 631844 snowball777
snowball777's picture

'smoothing operations'

http://amzn.to/a55KKE

Thu, 10/07/2010 - 08:54 | 631865 suteibu
suteibu's picture

Bloomberg doesn't have the whole story.

TOKYO (Dow Jones)--A senior Japanese finance ministry official said Thursday that Japan has been taking measures to weaken the yen due the adverse impact of a strong currency on its economy, but added that skillfully explaining its position at the upcoming Group of Seven industrial nations meeting may be a tough proposition.

Hence the pledge not to join the race to debase.  Man...and everybody wonders why Japan is always the bitch in a relationship.  Man up, Japan!

Thu, 10/07/2010 - 08:41 | 631832 papaswamp
papaswamp's picture

Jimmy those UE numbers....people forget in a week. How many weeks in a row of upward revisions has this been?

Thu, 10/07/2010 - 08:42 | 631834 3rivers
3rivers's picture

someone please help.  I'm trying to watch data to help prevent virtigo but sometimes it makes things worse.  Example (I live in Chiangmai) the Bank of Thailand has these figures for a few weeks ago.  International Reserves 5 trillion baht, reserve money (in circulation plus bank deposits) 1 trillion baht.  That means for every baht there is about 5 baht in US Treasuries.  That means Thailand has 5 times as much "invested" in US debt than all the money they have in circulation.  Isn't that a completely crazy sitaution?

Thu, 10/07/2010 - 08:45 | 631841 snowball777
snowball777's picture

I think I see why you guys burned down your stock market.

Thu, 10/07/2010 - 09:01 | 631879 kathy.chamberli...
kathy.chamberlin@gmail.com's picture

hi baht, three rivers.

Thu, 10/07/2010 - 08:58 | 631873 kathy.chamberli...
kathy.chamberlin@gmail.com's picture

German August Industrial Production Jumps More Than Forecast

damn sure have been noticing some mightly fine German engineering driving around Colorado lately. mighty fine beautiful motor engineering imports. not that i want to buy one, too much resposibility, but just eye candy. hate audios new bling head and tail

lights.

Thu, 10/07/2010 - 09:35 | 631961 doolittlegeorge
doolittlegeorge's picture

you're coming awfully close to Haiku.  You better BACK OFF, girl.

Thu, 10/07/2010 - 09:25 | 631935 gwar5
gwar5's picture

Greenspan - needs to re-read his 1966 essay. Fear is rational with current administration if that's who he was really writing to. Nobody blamed Exxon for exiting Venezuela.

Japan - won't enter devaluation race?? Just when I had counted them as not going rogue on the scheme. Maybe they saw it doesn't work against big dog Ben who's going to show them how to really snuff a fiat

Thu, 10/07/2010 - 09:31 | 631945 hedgeless_horseman
hedgeless_horseman's picture

USD/JPY approaching 82.  Hawaii better get ready to be invaded by Japs again. 

Thu, 10/07/2010 - 09:38 | 631966 doolittlegeorge
doolittlegeorge's picture

One does not "rush to weaken" a currency.  These are acts of war.  I recommend discretion.

Thu, 10/07/2010 - 09:42 | 631975 gwar5
gwar5's picture

CNBC: Hooray, Dow 11,000 is "close"

CNBC Guest analyst: bullish stocks, oil above $100, no jobs

 

...Ground control to Major Thoms....

 

 

Thu, 10/07/2010 - 09:53 | 632010 Chemba
Chemba's picture

Greenspan should just go off to the corner and die.  He is a disgraced money-printing Hack.  His only accomplishment is destroying free capital markets through endless intervention into market pricing.

Thu, 10/07/2010 - 11:55 | 632406 Hephasteus
Hephasteus's picture

No he's the man who saved the world for the last decade. With help from cold Summers and rubin the lotion.

http://www.time.com/time/covers/0,16641,19990215,00.html

The only way to fix a global economic meltdown is massive fraud. So we did that.

Thu, 10/07/2010 - 11:06 | 632192 Grand Supercycle
Grand Supercycle's picture

Updated FTSE weekly chart:

http://stockmarket618.wordpress.com

Thu, 10/07/2010 - 14:00 | 632960 eatthebanksters
eatthebanksters's picture

I love the article on Geithner...he's got the same attitude as the banksters; he thinks because he's the big dog everyone else will sniff his ass...sorry Timmy boy, little dogs bite as well.

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