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Alea —
This really doesn’t look good
And now, Covert Quantitative Easing
The maths of the credit crunch
US bank earnings may be “frightful”
A paradigm change for the global financial system
Nickels versus Black Swans: Reputation, Trading Strategies and Asset Prices
Proud father of a famous index enjoys the attention
ISDA Provides Update on Hardwiring ...
Readings: Asian exports, Gold miners vs. bullion, Satyam earnings
GalaTime —
Brad Setser: This really doesn’t look good
World Beta: An update to the Gold Miners / Bullion Ratio Analysis
. . . either gold has to come down, or gold stocks need to come up. . .a lot. Here is a recent article on the newsletters being bullish on bullion. Hussman uses the gold/XAU ratio which currently is above 7. (Hussman talks about a similar method here and here.)
The ...
Morning Reading 01/12/09
Paul Kedrosky's Infectious Greed —
‘Lifestyle’ diseases saddle poor countries (FT) Weathering the American Contagion (FEER) Gold vs the S&P 500: 1802-2002 (Google Books) Institutional trading, stock returns, and earnings announcements (JFE) The crisis in Ireland (Debonation) The Taiwan/South Korea air pocket thing (Setser) Some Cautionary Observations from Marc Faber (NC) Capitalism freezes in winter's discontent from China to Nigeria (Bloomberg) ...
Fed Watch: Short Takes for January 11, 2009
Economist's View —
... On international trade: The sustained weakness in consumer spending
points to a massive amount of import contraction, a supposition supported by
Brad Setser’s article today on Asian export growth (or non-growth). This,
however, might not yet show up significantly in tomorrow’s release of the US
monthly trade accounts for November. Of course, if you were concerned that the
trade deficit would eventually need to correct, you were likely looking for
import compression as one mechanism supporting that correction. And the faster
the adjustment, the greater the ...
Links 1/12/08
naked capitalism —
IRS May Push for Tax Compliance in Virtual Worlds Washington Post E-Waste Not Time Neoconservatism dies in Gaza Juan Cole, Salon Obama's bang for the buck Models and Agents Leading economist fears decade of weakness in US Times Online Villa prices fall by up to 45% amid real estate slump Arabian Business This really doesn’t look good Brad Setser Lessons from shorting JGBs – the credible promise to be reckless John Hempton The bond bubble has long since ...
Monday morning links
The Mess That Greenspan Made —
... into question - MSN Money ECONOMY Job losses prompt action - Reuters Government Finds Itself in Hole, Keeps Digging - Bloomberg Fixing US economy's health is a boon for DC region - AP Men losing jobs at higher rate than women in recession - USA Today Economy Made Few Gains in Bush Years - Washington Post INTERNATIONAL Strauss-Kahn Says IMF May Need Another $150 Billion for Crisis - Bloomberg This really doesn’t look good - Setser, CFR China's premier Wen says stimulus showing ...
Monday links: dividend destruction
Abnormal Returns —
... are scrambling to hire supertankers to store oil. (Times Online via Keith Shepard)
60 Minutes missed the market on its “oil speculation” story. (Crossing Wall Street, Big Picture)
Some signs of hope from the money markets. (Econbrowser)
The drop in exports from Korea and Taiwan is stunning. (Follow the Money)
The opinions of supposedly smart people differ widely on ...
Is the East heading into the red?
FT Alphaville —
... in the day of healthy trading conditions according to traders would have been between $30-40,000 per day. Although there are some glimmers of hope. Demand for naphtha - which is used for production of petrochemicals and plastics - is picking up, reportedly from a boost in demand from South Korea. Naphtha prices have firmed accordingly, say traders: naphtha prices from Bloomberg Of course, the demand pick-up follows on from some dismal export numbers from South Korea in December, as highlighted by CFR blogger Brad Setser. So do increased naphtha imports really mean a revival ...
