The Mess That Greenspan Made - Part 9

Tuesday Morning Links

Ferguson in flames – Reuters
Ferguson protesters, police clash after decision – MarketWatch
Ferguson Cop Compared Shooting Victim to Hulk Hogan – Bloomberg
OECD says eurozone now a ‘major risk to world growth’ – CNBC
Bundesbank: Low Rates Spurring Some Risky Behavior – Bloomberg
BOJ Governor Kuroda tells firms to up wages, spending – AP
Abe Sales Tax Backfiring With More Debt Not Less – Bloomberg
BOJ’s Kuroda resolute in fight against deflation, ready to ease more – Reuters
France Withholds Russian Ship, Criticizes Ukraine Over NATO – Bloomberg
Sun sets on Opec dominance in new era of lower oil prices – Telegraph
Oil price seen falling to $60 if OPEC does not cut output – Reuters
An Unbeatable Investment for Millennials – Bloomberg

Asia stocks fall as China rate cut effect fades – AP
2015: The ho-hum year for stocks? – CNN/Money
Citi Analysts Thought Everyone Knew ‘Hold’ Meant ‘Sell’ – Bloomberg
How the stock market behaves before and after Thanksgiving – MarketWatch
Treasuries Seen Attractive as Yield Near 2-Month High Versus G-7 – Bloomberg
Gold holds around $1,200/oz; U.S. data, Swiss vote eyed – Reuters
Higher Prices Encourage Large Speculators To Boost Gold Holdings – Kitco
Total Chinese Gold Reserves Approaching 16,000t – BullionStar
Swiss Gold Vote Key For Future Of Fiat Money – ValueWalk

Projected Holiday Spending Up From 2013 – Gallup
Japan’s young fret as unexpected recession hits – AP
Chinese government further cuts red tape – China Daily
OECD: Euro area may be in ‘persistent stagnation trap’ – BBC
Summit of Failure: How the EU Lost Russia over Ukraine – Spiegel
Canada Housing market ‘modestly’ overvalued, CMHC says – Globe & Mail
Nationwide Mortgage Lending Drops as Housing Market Cools – Bloomberg
Unlike the Rest of LA’s Housing Market, the Luxury Sector is Blowing Up – LA Curbed
Refinancing Boom Exposing Risks in U.S. Property Bonds – Bloomberg
New BOE advisor likes to let governments escape their debts – Telegraph
Fair and Balanced Fed? – NY Sun


From late last week, Senator Elizabeth Warren (D-MA) questions New York Federal Reserve President William Dudley on bank supervision in the wake of revelations that the New York Fed has been just a little bit too cozy with Goldman Sachs.

Also see:
Dudley Do Wrong Rejects Being a “Cop” and Embraces “Foaming the Runways”
Dudley Leaves Senators Unimpressed as Fed Scrutiny Rises

It sure would make things more interesting if Warren ran for president in 2016 – according to this report from just a few weeks ago, that’s still a possibility.

Monday Morning Links

The End of China’s Economic Miracle? – WSJ
China likely to ease further soon – MarketWatch
PBOC to inject liquidity if necessary – xinhuanet
All eyes on oil: What will OPEC do this week? – CNN/Money
Dudley Defense Leaves Senators Unimpressed as Fed Scrutiny Rises – Bloomberg
Dudley Do Wrong Rejects Being a “Cop”, Embraces “Foaming the Runways” – NEP
The Fed has boxed U.S. into a tough easy-money corner – MarketWatch
Cleveland Cop Shoots 12-Year-Old Boy Dead for Playing with Toy Gun –
Private Military Contractors Hired to Move Guns and Gold Out of Ferguson – Vice
Most of the World Panics — Is the US Next? – Dollar Collapse
Memories – of 2012 and 2007 – Noland, Prudent Bear
A Most Important Distinction – Hussman Funds

Global stocks gain on China rate cut, German data – AP
Global stocks higher after central bank stimulus signals – Reuters
Retiree stats and other things to be thankful for – USA Today
Afraid of retiring into a bear market? Tips to hedge bets – CNBC
Treasuries Fall First Time in 3 Days Before GDP Data – Bloomberg
Gold falls on firm dollar, China rate cut lends support – Reuters
The Real Reason Why The Netherlands Repatriated Its Gold – Sprout Money
SNB’s Jordan Warns of Danger of Voters Passing Gold Initiative – Bloomberg
Gold Wagers Gain as China Rate Reduction Stems Rout – Bloomberg

Rock Bottom Economics – Krugman, NY Times
Lower oil prices and the U.S. economy – Econbrowser
U.S., global business confidence slumps – MarketWatch
What Big Economies Got Right, or Wrong, After Crisis – WSJ
When economic models are unable to fit the data – voxeu
Oil price slide and sanctions ‘cost Russia $140bn’ – BBC
China’s Over-Reliance on Guaranteed Loans, in 3 Charts – WSJ
Could Obama’s immigration initiative boost the housing market? – WaPo
What Next For Home Prices? – S&P Housing Views
The Consequences of Imposing Negative Interest Rates – Acting Man
Central Banks: When We Succeed, We Fail – of two minds


Legal Immigration Explained

From’s October issue comes the graphic below depicting how one goes about becoming a U.S. citizen under the current immigration system.

Click to Enlarge

That lower left corner is kind of interesting in that, if you don’t have family in the U.S. and are neither rich nor skilled (education or sports, apparently), you’re basically out of luck since, for the garden variety green card, “the wait time approaches infinity”.

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