News: 2014-03-12

By Edward Harrison On Mar 12, 2014

United States

WSJ/NBC News Poll: Obama’s Approval Rating Hits New Low – WSJ.com

Zach Galifianakis Is Now The Top Driver Of Traffic To HealthCare.gov | TechCrunch

▶ Between Two Ferns with Zach Galifianakis: President Barack Obama from President Barack Obama, Zach Galifianakis, Scott Aukerman, BJPorter, Funny Or Die, Between Two Ferns, rachelgoldenberg, Brian Lane, Aaron Ulrich, and BoTown Sound

This video is pretty funny

Study: Women Who Can Do Math Still Don’t Get Hired – NYTimes.com

“With no information about the job “applicants” other than their appearance, the managers (of both sexes) were twice as likely to hire a man over a woman.”

New In-Depth Study Shows How Debt Collectors Abuse Legal System and Borrowers | naked capitalism

Morgan Stanley: Face it, the economy’s slow growth is now permanent

Bill Black Slams New York Times for Wink and Nod Endorsement of Criminal Conduct | naked capitalism

‘Mediocre’ Gross overpaid at $200 million: Trustee

Wholesale Inventories Piled Up in January as Sales Tumbled – Real Time Economics – WSJ

“Merchandise piled up on wholesalers’ shelves in January, likely reflecting a shift in consumer spending toward heat and healthcare during a bad-weather month. Wholesale inventories climbed 0.6% from December, the Commerce Department said Tuesday. Sales tumbled 1.9%, the sharpest decline since the tail end of the recession in March 2009.”

Clinton’s Keystone-pipeline dodge causes donors to rethink support | Financial Post

Ukraine

BBC News – Ukraine president: Russia ‘is refusing crisis talks’

Washington Does Not Have a Natural Gas Weapon Against Moscow | naked capitalism

US to violate own laws by financially aiding Ukraine’s coup-installed govt – Moscow — RT News

“Ukraine’s ousted president, Viktor Yanukovich, said on Tuesday that the US plans to loan $1 billion to the country’s new authorities are illegal. “Indeed, in accordance with the amendments introduced to the 1961 law (Foreign Assistance Act) a few years ago the provision of foreign assistance is prohibited to ‘the government of any country whose duly elected head of government is deposed by military coup or decree.’ The relevant provision is contained in 22 US Code § 8422,” the Russian Foreign Ministry said in a statement. “

Sanctions nerves ripple through Moscow – FT.com

““It’s my view that the Obama administration and other European leaders are deliberately raising the spectre of serious economic sanctions as a means to reach a political settlement in the short term,” said outgoing US ambassador to Moscow, Michael McFaul. “They understand the long-term consequences of actively implementing these measures and would much prefer a resolution over having to implement difficult sanctions that would be very costly for the Russian economy and which would be difficult for European powers and the West to execute over the long term.””

Mitchell A. Orenstein says that the West should not demand austerity until after the May election. – Project Syndicate

“No successful Eastern European government has been asked to impose a dramatic austerity and reform program prior to democratic elections; it would be utter folly to start now.”

BBC News – Ukraine crisis: John Kerry rejects Vladimir Putin talks

Japan

Facing weak home demand, Japan refiners look to push up exports | Reuters

Why an extra $26 a month may decide fate of Abenomics – FT.com

Japan Inc. to Boost Wages – WSJ.com

Behind PM Abe’s Wage Push in Japan: Dueling Economists – Japan Real Time – WSJ

Japan Business Sentiment Soars: A Flash in the Pan or Here to Stay? – Japan Real Time – WSJ

Japanese Consumer Pessimism Hits New High Under Abe – Japan Real Time – WSJ

What if Japan’s Export Boom Never Shows Up? – Real Time Economics – WSJ

China

Sober Look: Xu Shaoshi says all is well with China’s economy

China Slowdown Is Rocking Raw Materials – WSJ.com

China shadow lending slows sharply – FT.com

China fears trigger dramatic drop in copper – FT.com

“The copper market is spooked. After falling 4 per cent on Friday, the red metal tumbled as much as 2.6 per cent on Monday on the London Metal Exchange. At $6,608 a tonne for three-month delivery, the price was within a whisker of its lowest price in nearly four years. “

Europe

Scottish deficit adds to independence fiscal concerns – FT.com

The Bank of England will never unwind QE, nor should it – Telegraph Blogs

Industrial production growth slows – Telegraph

Industrial Output Falls in Euro Zone – WSJ.com

ekathimerini.com | Contraction in 2013 revised to 3.85 pct

ekathimerini.com | Budget posts primary surplus of 2.07 bln euros in Jan-Feb 2014

The spectre of eurozone deflation – FT.com

Peripheral banks rush to bonds | Capital City | IFRe

“Mediobanca, Banco Santander, Bank of Ireland and CaixaBank opened books for new senior and covered bond issues and quickly attracted strong demand despite spreads being at five-year lows, showing that more and more investors are buying into the European banking system recovery story.”

Bank of Ireland raises €750m in long-term secured funding – Independent.ie

“The five-year covered bond attracted strong demand with the order book of €2.2m about three times over-subscribed. The yield was 1.82pc with the issue sold to a range of over 140 international investors.”

UniCredit falls to record €14bn loss before stress tests – FT.com

“UniCredit has announced a record annual net loss of €14bn as Italy’s biggest bank by assets cleaned up its balance sheet by taking big writedowns on bad debts and goodwill ahead of European stress tests later this year.”