Overalottment: July 1

Tyler Durden's picture
  • Australia's trade deficit doubles in May (MarketWatch)
  • Schizo China changes tune again, hopes dollar remains stable as reserve currency (Bloomberg)
  • Unwinding AIG Prompts Pasciucco to Ponder Systemic Failure (Bloomberg)
  • BOE official says banking system like South Sea bubble (Guardian h/t Steve)
  • Podcast: Minsky framework explained (Mcculley, h/t Kyle)
  • Obama enters decisive phase of presidency (FT)
  • "Dickweeds", "Vampire Squids" and "Morons" (NY Mag)
  • And on that note, TrimTabs details the BEA process of estimating personal income and personal savings, and why the reading is garbage (h/t John)