The Mess That Greenspan Made - Part 32

Tuesday Morning Links

Opec oil production ‘will not fall’ – BBC
Gas prices fall record 88 days, lowest since 2009 – USA Today
Ruble maintains recovery following central bank action – RT News
Finance minister: Russia is entering a ‘full-fledged economic crisis’ – FP
China quietly joins Asia’s currency wars to avert deflation – Telegraph
Ruble Swap Shows China Challenging IMF as Emergency Lender – Bloomberg
Belarus blocks online sites, closes stores to stem currency panic – AFP
German Yields Near Record Low as Greek Bonds Drop After Vote – Bloomberg
Washington’s Lies About TARP’s “Success” Are Worse Than The Bailouts – Contra Corner
Asking for NYPD Protests to Stop Is Standing on The Wrong Side of History – Vice News
Who unplugged North Korea’s Internet? – Washington Post
QE addiction has made us too complacent – Telegraph

Global stocks mixed after Wall Street record – AP
The stock market’s merry 200-year history – MarketWatch
Private Stock Trading vs. Public Exchanges – Bloomberg
If stocks are at record highs, why aren’t we getting richer? – MarketWatch
Treasuries 5-10 Yield Spread at Seven-Year Low – Bloomberg
Gold rebounds on softer dollar, vulnerable to further losses – Reuters
More Confirmation Germany Continues To Repatriate Gold – Bullionstar
$300K in gold missing from Ukraine Central Bank, swapped for lead bricks – RT News
Path of the gold price is in China’s hands – lawrie on gold
Ronald Stoeferle: Gold Outlook For 2015 – GoldSilverWorlds

Don’t Fear Oil Prices and Deflation – Bloomberg
The Austrian Case Against Economic Intervention – Mises
Is the oil crash about to snuff out the ‘Texas miracle’? – LA Times
How a 2% Inflation Target Became Global Economic Gospel – Washington Post
Singapore experiences deflation for first time in 5 years – CNA
The End of Tolerance? Anti-Muslim Movement Rattles Germany – Spiegel
The housing market took a step back from “normal” last month – Quartz
Over 50 pct of Chinese worried by “too high” house prices – xinhuanet
A Case For A Monetary Rule: It’s Time To End The Fed’s Discretion – Forbes
Looking Backward to See the Future – Fed Watch


NYPD Aftermath

The photo below from this Vice News story about the NYPD shootings over the weekend speaks volumes about what New York City police officers are feeling right about now.

Asking For Protests to Stop After NYPD Killings Is Standing on The Wrong Side of History, also from Vice News, provides some interesting historical context as the relationship between New York Mayor Bill DiBlasio and local law enforcement worsens.

Monday Morning Links

Ready for $20 Oil? – Shilling, Bloomberg
Saudi Arabia says won’t cut oil output – Reuters
Gulf Oil Exporters Blame Non-OPEC Producers for Glut – WSJ
Why the Saudis are crashing the price of oil – National Post
China Suggests Currency Swap to Help Russia – Bloomberg
Volcker lambasts Wall Street lobbying – Financial Times
Janet Yellen’s Christmas Gift to Wall Street – Ron Paul Institute
A Call for Racial Tension Cooling After NYPD Murders – Bloomberg
‘White’ Southerners have more African ancestry than they know – Vox
Anonymous Convinced Hack Didn’t Come From North Korea – Daily Beast
What Obama’s Cuba Deal Means for the Future of Cuban Cigars – Vice News
Iceberg at the Starboard Bow – Hussman Funds
“Bo, Bo” – Noland, Prudent Bear

Global markets gain as oil rebounds – AP
Structure Your Portfolio for Turbulence – WSJ
The $6.3 Trillion Frenzy That Vanquished Treasury Bears – Bloomberg
Oil prices likely to rebound in second half of 2015: Reuters poll – Reuters
Meredith Whitney’s Fund Said to Drop 11% as Office Put on Market – Bloomberg
What 2014’s winning stock sectors tell you about 2015 – MarketWatch
Gold inches higher as dollar weakens, strong shares limit gains – Reuters
Most Analysts Expect Gold To Stabilize During Quiet Holiday Period – Kitco
Will Chinese Gold Demand End 2014 With A Boom? – BullionStreet
India Imports Record Amount Of Silver In November – SRSrocco Report

An Autopsy for the Keynesians – WSJ
Do falling oil prices lead to deflation? – Econbrowser
Scenes from Putin’s Economic Meltdown – Politico
Putin is driving Russians away from beer and back to vodka – Quartz
China investigates possible stock-price manipulation – MarketWatch
Draghi Starts Squaring QE Circle in Month of Persuasion – Businessweek
Condos Coming to NYC’s Long Island City After Rental Boom – Bloomberg
The Fed has forgotten that banks caused the Great Recession – MarketWatch
Asked and Answered. Mostly. – Fed Watch


Classic Colbert

This 2006 video of Stephen Colbert at the White House Correspondents’ Dinner is getting lots of fresh looks today after the final installment of the Colbert Report last night.

What a ballsy way to launch your career as only a political satirist from the left could do.

© 2010-2011 The Mess That Greenspan Made