The Mess That Greenspan Made - Part 30

Thursday Morning Links

MUST READS
European Central Bank Takes a Radical Step – NY Times
Q&A: Just what are negative interest rates? – Guardian
ECB cuts rates, installs negative deposit rate – MarketWatch
Draghi-Yellen Split Widening to Revive Markets – Bloomberg
The Bank of England keeps interest rates steady – AP
The nagging fear that QE itself may be causing deflation – Telegraph
Growth Has Been Good for Decades. So Why Hasn’t Poverty Declined? – NY Times
New IEA Report Forecasts Decline In North American Oil Supply – SRSrocco Report
As Bitcoin Rallies, What Are The Best Opportunities For Investors? – Forbes
College Graduates Struggle to Find Employment Worth a Degree – Bloomberg
Grandparents are paying for college…again – CNBC
Wd u rite a resume like this? – Fortune
Russia’s Loving Obama’s Wimpy Workout – Bloomberg

MARKETS/INVESTING
Global stocks tepid ahead of ECB policy decision – AP
Strategist: Don’t listen to strategists – USA Today
The Implications of a Better Economy – Barron’s
Stocks at a record, but bonds look to break bad first – Reuters
Americans Aided by Fed Favoring Record REITs – Bloomberg
Tracking the Peak in Corporate Profits – Financial Sense
Treasuries Advance for First Time in Six Days as ECB Cuts Rates – Bloomberg
Gold trades above 4-month low ahead of ECB rate decision – Reuters
Despite gold’s fall fundamentals suggesting rebound – but when? – Mineweb
Gold Bores Investors as Volatility Drops to 14-Month Low – Businessweek
Gold’s monsoon boost – How this season is shaping up – Mineweb

ECONOMY/WORLD/HOUSING/BANKING
US employers plan to cut payrolls by 52,961 in May, up from April – CNBC
Welcome back dropouts: data suggests Americans rejoining workforce – Reuters
Household indebtedness greatest domestic risk in Sweden: Central Bank – xinhuanet
China Gov’t Makes Two Moves to Ease Liquidity – Selectively – Caixin Online
IMF says that containing China’s financial risks a priority – AP
Ukraine ready to sign EU trade deal ‘immediately’ – Poroshenko – RT News
House prices rise £7,000 in a month in largest leap for a decade – Telegraph
In Toronto’s housing market, ‘$2-million is the new $1-million’ – Financial Post
More Evidence Suggests The Housing Market Is Caving In – Seeking Alpha
Home Price Gains of 20% Vanish as Hottest Markets Cool – Bloomberg
The Fed’s Exit Strategy: A Delicate Balancing Act – Cato Institute
US economy growing across country: Fed’s Beige Book – CNA

 

Piketty on Colbert

I’m still working my way back from the combination of a Hawaii vacation and what appears to be a common cold and, as a result of the latter, have been watching a lot of TV in recent days that included the following appearance by Capital in the Twenty First Century author Thomas Piketty on the Colbert Report the other day that was quite entertaining.

Also, skip to about the 15 minute mark in this RT News video to hear University of Oregon Economics Professor Mark Thoma discuss the controversy surrounding the alleged deficiencies (or, as some say, cherry-picking) in Pikkety’s data.

Wednesday Morning Links

MUST READS
QE for Europe and China? – BBC
‘Stuttering’ eurozone keeps pressure on ECB to act – Telegraph
25 Years Ago in Beijing, A ‘Movement Unlikely to Die’ – WSJ
The American Dream is now out of reach – CNN/Money
The economy’s in great shape; we just don’t believe it – MarketWatch
‘A European War’: The Fight for Ukraine’s East Gets Bloodier – Spiegel
Walmart’s ‘Made in USA’ push exposes strains of manufacturing rebirth – Reuters
U.S. Imposes Steep Tariffs on Importers of Chinese Solar Panels – NY Times
China dissatisfied with US plan to slap high duties – China Daily
California Hit with $31.6 Billion Audit Misstatement – Chriss Street & Co.
Trading to influence gold price fix was ‘routine’ – FT
Bitcoin is back: Price quietly jumps 80% – Bitcoin
Where $1 of QE Goes: The Untold Story – Cyniconomics

MARKETS/INVESTING
World stocks drift as US jobs report, ECB awaited – AP
14 ’summer stocks’ getting ready to bloom – USA Today
Seven steps to a stock market crash – MarketWatch
Equity Traders See Draghi Turning Throttle Up on Rally – Bloomberg
Hedge funds: the mysterious power pulling strings on Wall St. – Guardian
Treasuries Rise as U.S. Jobs Growth Trails Forecast – Bloomberg
Gold holds above 4-month low, awaits U.S. data – Reuters
Gold Bull is ‘Wounded’ But Alive: Ned Davis Research – Barron’s
Gold price vs rates shows rally catalyst ‘already in place’ – Mining.com
Gold drifting down – but what will the Chinese do? – Mineweb
Wall Street concerned over China’s gold hoarding – China Times

ECONOMY/WORLD/HOUSING/BANKING
Economics as Engineering – PragCap
Reconciling Hayek’s and Keynes’ views of recessions – voxeu
US recovery hits 5-year mark, but long way to go – CNN/Money
Euro zone economy stutters as ECB gears up for action – Reuters
UK services sector expands by more than expected in May – BBC
Singapore Joins China With Dangerous Debt Level, GMT Says – Bloomberg
Europe remains a jobless swamp, despite the Spanish miracle – Telegraph
Just 10 states have a ‘stable’ housing market, report finds – Washington Post
Half of Americans can’t afford their house – MarketWatch
JPMorgan Sees Record $100 Billion in Loan Funds – Bloomberg
Fed Officials Growing Wary of Market Complacency – WSJ
Fed may shun global risk rules banks spent billions to meet – Reuters

 

Back, But Sick

Fortunately a nasty cold waited long enough for us to get back from beautiful Hawaii before it struck, but it has left both of us in pretty bad shape, barely able to operate the TV remote control and desirous of little else but sleep.

Hopefully, things will improve in the next few days or so, but, between now and then, not much will appear here.

This would have absolutely miserable to endure on what was a marathon flight home since, for some reason, it is virtually impossible to get from Hawaii to the mainland early enough in the day to get a connecting flight inland as far as Montana. Oh well, it was still worth it.

© 2010-2011 The Mess That Greenspan Made