“Out-and-Out Currency War from All Sides” And Other Links
It seems pretty clear that we are now entering a new stage of quantitative easing, competitive currency devaluation, and protectionism. Expect to see a number of posts on this later today. But I want to highlight this here in the links post because there have been a number of salvos in this escalating race to the bottom.
First, there was the Dudley speech, which is now being interpreted as a definite sign that the Fed will go QE. The Japanese have upped the ante by announcing a cut in rates to the 0-0.10% range along with other measures. The Brazilians are now instituting currency controls and the Europeans are urging the Chinese to revalue their currency.
We are getting an out-and-out currency war from all sides now.
Topic of the Day: Currency (and Trade) War
- FT Alphaville » BoJ says: ‘Bye, bye bank note rule’
- FT.com / Asia-Pacific – Bank of Japan sets course for QE
- BOJ Independence Challenged as Japan Deflation Continues – Bloomberg
- FT.com – Brazil raises tax on foreign inflows to 4%
- BBC News – EU presses China to act over cheap yuan
- egghat’s blog: Diese Dollar-Paritäts-Nummer ist ja wohl auch gefloppt …
- Análisis Técnico – ¿De verdad ha subido tanto la Bolsa en septiembre? – Cotizalia.com
- oftwominds: Understanding the "Trade War" with China
- Americans Sour on Trade – WSJ.com
The Usual Fare
- FT Alphaville » Ireland’s Aa2 – and Nama’s – on review at Moody’s
- Spanish Towns Struggle Under Crushing Debts – WSJ.com
- FT.com – Obama’s promise to end tax cuts for rich unravels
- Tim Geithner Still Doesn’t Understand Capital Requirements – CNBC
- Fed boss: Threat from deficits ‘real and growing’ – Yahoo! Finance
- FSA ‘stress tests’ would ban half of all mortgages, warn lenders – Mortgages, Money – The Independent
- BBC News – Taliban ‘remove German militants’ bodies’ after attack
- FT.com / Capital Markets – Hendry plots path to go short on China
- BBC News – My Bottom Line: Hugh Hendry, Eclectica Asset Management
- FT.com / Companies / Banks – Kerviel found guilty in SocGen scandal
- Fair Game – TARP Is Done, but Count on Sequels – NYTimes.com
- The New York Observer Is Close To Buying Dealbreaker, But Bess Levin Is Holding Everybody Hostage
- Goldman, Major Bond Bull, Sees Peak In Treasury Rally – WSJ.com
- Lettisk industriproduktion tar fart – DN.se
- Housebuilding recovery starts to crumble | Business | The Guardian
- TheMoneyIllusion » Las Vegas: Is the problem structural or cyclical?
- Marginal Revolution: Leaving Las Vegas (if they can)
- How to promise austerity and win elections? Ask Latvia’s leader | beyondbrics | FT.com
- FT.com / Companies / Insurance – AIG forced to lower Asia unit’s valuation
- Economist’s View: "The Foreclosure Crisis Had Significant Racial Dimensions"
- GOP Well Positioned Among Likely Midterm Voters
- Obama Approval Averages 45% in September
- Quelle Surprise! Team Obama Having Trouble Selling TARP Success « naked capitalism
Society
- What we can learn from procrastination : The New Yorker
- BBC News – No joke as Brazil clown tops votes for Congress
- [Updated] Great Moments in Athletes’ Drug Alibis
- BBC News – Australian police taser video sparks anger
- Court overturns US tycoon’s will that left fortune to Panama’s poor | World news | The Guardian
- Firefighters watch as home burns to the ground | WPSD Local 6 – News, Sports, Weather – Paducah KY | Local
Technology
- Microsoft’s Ballmer: Android Isn’t Really Free — You Have To Pay Us For Patents
- Why Facebook Blew Up | Mediaite
- Skype For Android Is Here And Works Over WiFi And 3G (Exceptions: US, China, Japan)
- There’s An App For That: Google TV Will Ship With Netflix, Twitter, Pandora And More
The presence of an article in the links section at Credit Writedowns is not an endorsement of the views presented. However, it is a suggestion that the article is topical and worthy of your attention. If you would like to receive our links in real-time, please follow me (Edward Harrison) at @edwardnh. We also have a Facebook fan page now where we also post some links.
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