Frontrunning: December 6

• Merkel, Sarkozy Unite as S&P Issues Warning (Bloomberg)
• Austerity package key to Italy averting collapse (FT)
• GOP Rejects Democrats' New Payroll-Tax Bill (WSJ)
• Europe can get out of crisis (China Daily)
• Belgium, at Last, Forms Government (WSJ)
• Geithner to Add US Weight to Euro Zone Talks (CNBC)
• Asia Faces ‘Much Greater’ Global Risks: ADB Says (Bloomberg)
• Understanding sectoral balances for the UK (FT)
• Carney Likely to Keep Key Canada Lending Rate at 1% Amid Risks From Europe (Bloomberg)
• China may cut RRR at Lunar New Year: report (WSJ)
• Putin’s party loses support in Russian vote (FT)

European Economic Highlights

• Eurozone GDP s.a. 1.4% y/y – in line with expectations. Consensus 1.4% y/y. Precious 1.4% y/y.
• Eurozone Gross Fix Cap for 3Q 0.1% - lower than expected. Consensus 0.6%. Previous 0.2%.
• Poland Industrial Sales for October -2.5% m/m 2.5% y/y. Previous 16.8% m/m 2.1% y/y.
• UK Halifax House Prices -0.9% m/m -1.0% 3m/3m – lower than expected. Consensus 0.0% m/m -0.7% 3m/3m. Previous 1.2% m/m -1.8% 3m/3m.
• Norway Consumer Confidence for 4Q 9.7. Previous 22.8. Revised 18.6.
• Czech Republic Retail Sales for October 1.5% y/y – higher than expected. Consensus 1.0% y/y. Previous -0.5% y/y. Revised 0.0% y/y.
• Romania GDP 4.4% y/y. Previous 4.4% y/y.
• Switzerland CPI  -0.2% m/m -0.5% y/y – lower than expected. Consensus 0.1% m/m -0.3% y/y. Previous -0.1% m/m -0.1% y/y.

Comments

[AngryGerman]

No crisis in Romania!!!!

Romania GDP 4.4% y/y. Previous 4.4% y/y.

This should show all of you doom-sayers!! World saved, no recession!

[hugovanderbubble]

Hungary has lied in national public accounts...

Greece

Italy...

OF COURSE ROMANIA HAS DONE TRICKY ACCOUNTING, Germany and France Too...

Dont trust PUBLIC FIGURES
This system is  corrupted and s.ks.

[AngryGerman]

...but, but....these are official numbers! they are o-f-f-i-c-i-a-l!! they cannot be lies!

No crisis all! save christmas bonus!

[PaperBear]

Fallout from the passage of the National Defense Authorisation Act

Benjamin Fulford 12-5-11…Higher Discernment Advised

Highlights

• The word is that the Pentagon, the agencies and the militias are on the brink of taking violent action against President Obama and the Senators who claimed the right to kill and/or indefinitely imprison Americans without trial.
• The same is true in Europe were [where] Freemason P2 lodgers and Bilderbergers will make a move towards fascist control this week…
• The group that is sitting brainwashed in front of their TVs is irrelevant because the contents of their TV mind-programming will change once police and the military remove the criminals now occupying the corporate media.
• In signs of imminent revolution, the Senators who voted to kill and imprison Americans without trial are being confronted in their offices by angry constituents. The military has told Obama to buzz off, which is exactly what he did by running off to Hawaii.
• There are many militia groups, many with over 10,000 members each, that have contacted the White Dragon Society and are just waiting for the word to take up arms against the corporate federal government.
• The summit meeting of 27 EU heads of state this week will feature a push towards an unelected centrally controlled technocratic government.
• In Japan, meanwhile, the Rockefellers and the Rothschilds remain cut-off from Japanese financing… The head of Citibank Japan as well as the top executives of three other major foreign financial institutions in Japan all quit in October.
• Time is on the dragon’s side and the Western elite’s system is falling apart without any need for violence.
• However, we are getting very close to the point where it will be necessary to make some arrests to prevent war.

[Derpin USA]

You're telling me the Pentagon is on the verge of a military coup?

[Gmpx]

Merkel and Sarkozy unite and their love will protect them. Here is an appropiate German song www.youtube.com/watch?v=XFYstGfy338

[I am Jobe]

How very romantic?

[hungry4food4u]

 

Here is the Video interview with the CME guy that is describing a scenario for Default in EURO ZONE as the Only remedy and he needs to understand that if this is the only solution for the EU then same is cure for USA so is he ready for that ?? http://video.cnbc.com/gallery/?video=3000060840

[MsCreant]

Geithner to Add US Weight to Euro Zone Talks 

Fly weight? Light weight at best? Please wait? What a stupid fucking headline, even if we all didn't know that folks laugh at him when he comes to town. Tiny Tim weight. Negative weight, a new weight class that only he can fight in. He fights at the atomic level, in a collider.

[i-dog]

Damn ... you beat me to it. But, +1 for the "atomic weight" class. LOL. (I was only going to suggest "paper weight").

[MsCreant]

The thing of it is, while I like making fun of him (it's too easy), dynamite really does come in small packages and he has, in fact, been very destructive to the economy. As an atomic weight fighter, he has the power to make things go boom!

[Derpin USA]

Norway Consumer Confidence for 4Q 9.7. Previous 22.8. Revised 18.6.

Did I read that correctly? Is that on a scale of 100? 10% of consumers in Norway have confidence in the economic future?

[i-dog]

Yes, it does seem a little high. Always the optimists!

[jdoo]

Martin Wolf's piece on sectoral balances linked above is the most important of the bunch.