I am confused by financiers. It all looks to be denial.
http://www.telegraph.co.uk/finance/financialcrisis/
Debt crisis: as it happened Feb 14
14 Feb 2012
| 1125 Comments Sarah leads, but Moody's decides by committee
14 Feb 2012
| Comment Debt crisis: European markets shrug off Moody's rating blow
14 Feb 2012
| 3 Comments Relaxed markets remain one step ahead of Moody's move
14 Feb 2012
| 1 Comment Banks need certainty to safeguard economic growth
14 Feb 2012
| Comment Credit agency clowns are making life difficult for the Chancellor
Moody’s has identified a weakness in Mr Osborne’s strategy, says Jeremy Warner.14 Feb 2012
| 87 Comments Moody's rating decision backs the Coalition's path of fiscal consolidation
Moody's decision to place the UK on "negative outlook" was leapt upon by critics of the Coalition's economic policies as a sign that the Treasury had got it wrong and it was time to reverse ferret, open the rusted credit taps and spend.14 Feb 2012
| 4 Comments Credit and debit
Telegraph View: The politician who should be most alarmed by Moody’s threat to downgrade British debt is not George Osborne, but his opposite number, Ed Balls.14 Feb 2012
| 11 Comments Greek economy spirals down as EU forces final catharsis
A Greek default and traumatic ejection from the euro moved a step closer last night after eurozone finance ministers cancelled a crucial meeting, accusing Athens of failing to flesh out austerity cuts.14 Feb 2012
| 335 Comments Britain named an economy 'at risk' by EU
Indebted mortgage holders, high property prices and shrinking global exports represent "risky and harmful" imbalances in the British economy, the EU warned on Tuesday.14 Feb 2012
| 66 Comments 2222222222222222222 <3
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Senate Exit Polls - Election Results 2010
Election results from The New York Times.These people keep a statistical picture:http://polltracker.talkingpointsmemo.com/
The way things are spun is a long way from the way the numbers stand.I wonder when the results the day after look like the spin and not like the statistical picture."Dewey defeats Truman" was a sampling error. I hope the lesson was learned. -
Bill Cunningham | Styling on the Street
This must be south of the park and north of 42nd street.
It is always time for art.It is rarely in the business model.
@21:27 +++++++++++++++++++++++++++++++++++++++++
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Elise
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Does IMF Stand for Impressive Macroeconomic Flexibility?
So the IMF is holding a meeting on rethinking macroeconomic policy (I was invited but couldn’t make the timing work.) And the Fund’s chief economist has already made it clear that he’s open to some serious revision of the prevailing paradigm.
http://bonddad.blogspot.com/Tuesday, February 14, 2012
Bonddad Linkfest
- Obama's budget relies on military cuts and tax increases (NYT)
- Moody's downgrades 6 EU nations (NYT)
- Australia lifts wheat exports to record (Agrimoney)
- Copper imports to China may remain robust over the next few months (BB)
- Greek economy shrinking rapidly (WSJ)
- Japan's central bank eases (WSJ)
- Abolishing the Fed and returning to the gold standard is a really bad idea (Econbrowser)
- Comparing truck and rail car numbers (Dr. Ed.)
- Middle class primarily benefiting from the safety net (Economix)
- European sovereign spreads making new lows (Bespoke)
Monetary Velocity is STILL Way Too Low
Above are 5 year charts of monetary velocity, for M1, M2 and MZM.
Let's place the current readings into historical context:
M1 has printed lower. However, it has been in a very chart decline for the last few years.
M2, on the other hand, is at multi-decade lows.
And MZM is at or near multi-decade lows as well.
Simply put, there is a dearth of transactions occurring in the economy right now. This is very concerning as we need to have money moving in order for economic activity to pick-up in a meaningful way."
Deflation in Europe and here.
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John Townsend
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Does IMF Stand for Impressive Macroeconomic Flexibility?
So the IMF is holding a meeting on rethinking macroeconomic policy (I was invited but couldn’t make the timing work.) And the Fund’s chief economist has already made it clear that he’s open to some serious revision of the prevailing paradigm.
http://www.nakedcapitalism.com/2012/02/links-21512.htmlWednesday, February 15, 2012
Links 2/15/12
Apologies for thin links. I am attending theBank of America settlement hearing in appellate court, which means I should have been in bed two hours ago. Please post the AM news stories I missed in comments for the benefit of fellow readers.
BOOM Goes the Ichthyosaur? Wired (hat tip Richard Smith)
Fukushima at Increased Earthquake Risk, Scientists Report Science Daily (hat tip reader Chuck L)
Invisibility’ Cloak Could Protect Buildings from Earthquakes Science Daily. Per Chuck L: “Maybe they can figure out a way to cloak nuclear plants.”
Greece and the return of the economic ‘death spiral’ Guardian (hat tip reader Scott)
Noam Chomsky: America’s Decline Is Real — and Increasingly Self-Inflicted Alternet (hat tip reader May S)
U.S. media takes the lead on Iran Glenn Greenwald
Confederacy-lite: The Oklahoma’s AG’s Civil War against the United States of America Bill Black
Mind-Boggling Nonsense from John Cochrane Economics of Contempt (hat tip Richard Smith)
Occupy’s amazing Volcker Rule letter Felix Salmon
Occupy the SEC Weighs In on the Volcker Rule BusinessWeek
John Paulson Sells Entire Stakes in Citi, BofA Bloomberg. No more hot hand, and he missed the settlement pop.
Is the $25 Billion Foreclosure Settlement a Stealth Bank Bailout? Time
Fun With Numbers: Foreclosure Fraud Settlement Figures Tough to Add Up Dave Dayen, Firedoglake
Is Wall Street ‘Castrated’ — Or Just Lying Low? Michael Hirsh
Antidote du jour:
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Senate Exit Polls - Election Results 2010
Election results from The New York Times.
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