MUST READS S&P warns of US rating downgrade – BBC Europe’s banks brace for health test failures – Reuters Stress Tests Compromised by Greek Non-Default – Bloomberg Return of the Gold Standard as world order unravels – Telegraph Worried About Debt Limit? The Bond Market Isn’t – Baum, Bloomberg If U.S. defaults on debt: How… Continue Reading Friday Morning Links
The Labor Department reported that consumer prices fell in June for the first time in a year, down 0.2 percent last month due to tumbling gasoline and heating oil prices, but annual inflation rose from 3.4 percent to 3.6 percent. So-called “core” inflation (excluding food and energy) rose by 0.3 percent for… Continue Reading Energy Drives Consumer Prices Down in June
The Reuters/University of Michigan consumer sentiment index plunged to its lowest level since March 2009, down from 71.5 in June to just 63.8 in the first of two readings in July, as a faltering economy, weakening labor market, and the ongoing debate over the debt ceiling and spending cuts sapped… Continue Reading Consumer Sentiment Plunges
I don’t know the first thing about News Corp executive Rebekah Brooks, but, after watching her palling around with Rupert Murdoch over the last week or so, she was really starting to creep me out (along with much of the Western world, I would guess). It’s probably a good thing… Continue Reading Good Riddance – She Was Creeping Me Out!