“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
- 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
- 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
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