Frontrunning: September 19

Tyler Durden's picture
  • Greece Seeks Further Cuts (WSJ)
  • No new China stimulus - former deputy central banker (Reuters)
  • Obama to propose "Buffett Tax" on millionaires (Reuters)
  • Greece-Troika Conference Tonight To Decide Next Steps (Market News)
  • China Slowdown Looms as Inflation Limits Stimulus, ex-PBOC Official Says (Bloomberg)
  • Bernanke Joins King Tolerating Inflation (Bloomberg)
  • Swiss Cash blockade against German tax evaders (Spiegel)
  • Moody's stays negative on states, local governments (Reuters)
  • Germany Rejects Using ECB Leverage to Increase European Rescue Fund’s Size (Bloomberg)
  • Merkel and Eurosceptic allies beaten in Berlin (Reuters)
  • QE saved Britain from double-dip recession, says Bank of England (Telegraph)
  • Funds May Keep Selling Malaysia Even Amid Reforms, CIMB Says (Bloomberg)

Europea economic update:

  • Eurozone Construction Output s.a. for July1.4% m/m. Previous -1.3% m/m.
  • Eurozone Construction Output w.d.a. for July 1.2% y/y. Previous -11.5%y/y.
  • UK Rightmove House Prices for September 0.7% m/m 1.5% y/y. Previous -2.1% m/m -0.3% y/y.

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Irish66's picture

4 month outflow 75 billion, record

oobrien's picture

Wall Street criminal-types front-run?

SAY IT AIN'T SO!

I refuse to believe you.

Fuck all you subversive-types.

Them be good Christians.

Fuck Lloyd Blankfein and the horse he rode in on.

http://geraldcelente.proboards.com

Racer's picture

"Bernanke Joins King Tolerating Inflation"

Yeah they can tolerate it easily, but the poor and the pensioners CAN'T

 

Alex Kintner's picture

Does anyone calculate the real number for inflation (link)? The Gubmint number is clearly a made up number to keep from spooking the herd.

I still recall Bernanksters comments on 60 minutes when he started QE. Said he was 100% certain he could stop inflation if QE produced it. Apparently, he forgot to add "if I give a crap about it".

GeneMarchbanks's picture

Bernanke Joins King Tolerating Inflation (Bloomberg)

US citizens should get adult diapers ready.

Alex Kintner's picture

Richard Fisher, president of the Federal Reserve Bank of Dallas, told reporters Sept. 12 he couldn’t imagine trying to explain the shift to unemployed workers and others “who don’t want their income or meager savings eroded by price increases.”

Armies of homeless seniors ain't gonna look pretty. But the oligarchs own the media so I suppose the media won't cover that story anyway.

Grifter's picture

Sorry this is from a gaming site, interesting development on the NFLX front:

Netflix Splitting Streaming and Rental Services into Two Companies

http://www.escapistmagazine.com/news/view/113112-Netflix-Splitting-Strea...

Founder's blog:

http://blog.netflix.com/2011/09/explanation-and-some-reflections.html

Broomer's picture
  • Swiss Cash blockade against German tax evaders (Spiegel)

Ha

Who does trust Swiss secrecy nowadays?

The best friends of secrecy are PMs, a shovel and a night without Moon.

 

saulysw's picture

It strikes me that Buffet just shat in his own punchbowl. Most of his clients and stockholders are millionaires. They may not appreciate him pushing a tax on their wealth.