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On Austerity as the New Black and Other Links
Must read: Austerity is the new Black Cameron Warns Britons of 'Decades' of Austerity - NYTimes.com BBC News - Out with Keynes, in with Hoover? G-20 Clash Over Recovery Risks ’Sub-Potential’ Growth - Bloomberg.com FT.com -…
Contagion Spreading Yet Further To Core Euro Zone
In a note to investors today, Win Thin of Brown Brothers Harriman noted that contagion has spread to core Europe with France now paying more for debt. France is coming under scrutiny, with one astute market contact noting that France…
Hussman on Bailouts of Poor Stewards of Capital
This fairly well sums up my view: hen our policy makers insist on defending reckless lenders with public resources, we have to recognize that this is not free money. When the government issues a paper liability for real value, that real…
The European Disease
The Absolute Return Letter, June 2010 “You cannot turn a pig’s ear into a silk purse, and there is no point in pretending that an economy like that of Greece could somehow become a mini-Germany ”with appropriate resolve and discipline”.…
Look for Dollar Dips As New Buying Opportunity
By Marc Chandler of Brown Brothers Harriman Highlights The US dollar has seen its initial gains scored in Asia pared, but the risk is that North American players resume the buying of the greenback. The euro initially fell to about…
The cardio diet to deficit reduction – a modern fable
Everybody in the west knows the fabled effectiveness of weight-loss dietary programs designed around intense cardiovascular regimes which burn huge amounts of calories. The people who work hard, doing as much cardio as possible lose weight.…
G-20 Offers Little To Support The Euro
By Marc Chandler of Brown Brothers Harriman.
Highlights US dollar was mostly firmer vs. majors, with EUR/USD making new multi-year lows after breaking 1.20. More jitters about Hungary didn’t help the euro. Yen was stronger…
Edward Chancellor on the Paradox of Public Thrift and Other Links
Must-read: The paradox of public thrift FT.com - Edward Chancellor - The dreadful potential of frugality The Usual Fare Black Flight is the New Worry for Detroit - WSJ.com Sieben Menschen: Staatsziel sparen - so fühlt sich…
BP: The Mother of all Egregious Violators
By John Lounsbury. Here is some astounding news: BP PLC (BP) has 97% of the most serious safety violations at U.S. refineries over the past 35 months. In the very top "egregious" category, BP has 99.9% of all…
More than Half a Million Job Losses Coming
In the next four months more than 500,000 job losses are baked in the cake. The reason? The temporary Census workers hired so far this year will be largely ending their assignments during the third quarter and will be looking for employment…