Some reads for a gorgeous Sunday morning:

• Big Investors Don’t Know Where to Put Their Cash (Spiegel.de)
JPMorgan: If This Is a Financial Fortress, Run For the Bunkers (Alter Net)
• ‘Facebook Funds’ Plunge (WSJ)
• Pimco’s Home-Loan Wager Seen as Prescient on QE3 Odds (Bloomberg)
• U.S. debt load falling at fastest pace since 1950s (Yahoo Finance)
• Prosecute The Big Banks? ‘Nothing’s Off The Table,’ NY Attorney General Says (TPM) see also Big U.S. Banks Brace for Downgrades (WSJ)
• Trustee Sees Customers Trampled at MF Global (NYT)
• Steve Levitt: Like a True Chicago Boy, Likes People to Go to Jail so Markets Can Be Free (Naked Capitalism)
• Did Republicans deliberately crash the US economy? (Guardian)
• Book Review: A Bank on the Run: How WaMu’s Demise Hit Home (WSJ)

What are you reading?
 
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China Slowdown?

Source: Businessweekp://www.businessweek.com/articles/2012-05-31/understanding-the-china-slowdown” target=”_blank”>Businessweek

Category: Financial Press

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

13 Responses to “10 Sunday Reads”

  1. dougc says:

    Let’s see:
    Last year Spanish banks passed the stress test.
    Last week they either didn’t need a bailout or 20 billion at the most.
    Today they accepted a 120 billion bailout.
    Seems to me the banks can determine their financial situation to match their needs at the moment.
    How long before Italy can repeat.

  2. mathman says:

    U.S. government to use ‘drones the size of GOLF BALLS to spy on AMERICAN citizens’

    Read more: http://www.dailymail.co.uk/news/article-2156720/Eye-sky-U-S-government-use-drones-size-GOLF-BALLS-spy-citizens.html#ixzz1xODyLNw5

    Feeling “safe” yet?

  3. ilsm says:

    The EU seems to be willing to have the ECB back up banks, up now the goernment have been “borrowing” euros to capitalize the indigenous banks.

    How come they entered the EZ and did not make the ECB lender of last resort for EZ facilitated bank runs?

  4. VennData says:

    China Data Signal Some Strength

    “… China’s exports and imports both rose sharply in May, while inflation slowed substantially, hopeful signs for the world’s second-largest economy. A raft of data released over the weekend by the Chinese government present a mixed picture, but overall suggest an economy stronger than many market players feared at the end of last week. A surprise-interest rate cut by the central bank Thursday prompted speculation that the monthly data for May would be especially weak…”

    http://online.wsj.com/article/SB10001424052702303768104577458003116697104.html

    Lotsa deniers are gonna get their pointed heads handed to them on Monday. Oh well, “hoping things get bad” because you can’t stand the idea of having your taxes set back up to the 90′s rate plus paying for old people’s medical bills (who buy from the med-tech companies you’ve invested in) ain’t an investment strategy.

  5. ConscienceofaConservative says:

    A worthy follow up to the Spiegel article.
    South Carolina juicing up pension risk for more returns with non so clear results..

    http://www.nytimes.com/2012/06/10/business/south-carolinas-pension-push-into-high-octane-investments.html?pagewanted=all

  6. rd says:

    The long-time economic decline of the old Northeast industrial cities means that desperate local governments make bad deals with developers. Here are a couple of recent stories on some of these that are already in place or trying to get put in place.

    http://www.syracuse.com/news/index.ssf/2012/06/destiny_dictated_deal.html

    http://www.13wham.com/news/local/story/medley-centre/6FLdcdBgWkyXxEqEZLvlSw.cspx

    Please keep in mind that government subsidies of retail and hotel in areas with static or shrinking populations would generally put other companies out of business who do not have the competitive luxury of a government subsidy.

  7. Mike in Nola says:

    Didn’t know that “presience” = “front-running”

  8. Jojo says:

    Forced to Early Social Security, Unemployed Pay a Steep Price
    MOTOKO RICH
    Published: June 9, 2012

    PALM SPRINGS, Calif. — This retirement oasis in the desert has long beckoned those who want to spin out their golden years playing golf and sitting by the pool in the arid sunshine.

    But for Clare Keany, who turned 62 last fall and cannot find work, it feels more like a prison. Just a few miles from the gated estates of corporate chieftains and Hollywood stars, Ms. Keany lives in a tiny mobile home, barely getting by on little more than $1,082 a month from Social Security.

    “I would rather be functioning and having a job somewhere,” said Ms. Keany, whose pixie haircut, trim build and crinkling smile suggest someone much younger than her years. “I really don’t enjoy living like this. I’ve got too much to do still.”

    Even as most Americans are delaying retirement to bolster their savings accounts, the recession and its protracted aftermath have forced many older people who are out of work to draw Social Security much earlier than they had planned.

    According to an analysis by Steve Goss, chief actuary for the Social Security Administration, about 200,000 more people filed initial claims in 2009 and 2010 than the agency had predicted before the recession and he said the trend most likely continued in 2011 and 2012, though that is harder to quantify. The most likely reason is joblessness.

    http://www.nytimes.com/2012/06/10/business/forced-to-retire-early-jobless-pay-a-steep-price.html

  9. philipat says:

    China’s growth rate is unlikely to fall below 7%. Now, that means that China is still increasing its consumption of commodities by roughly 7% PA. Next, 7% of 100 is 7, whereas 10% of 50 is 5, which means that in net volume terms China’s incremental annual consumption now is GREATER than it was with a smaller economy and a higher growth rate. The rest of the world is unlikely to suffer an actual decline in consumption and, if at all, certainly not at a rate adequate to offset China’s increase.

    So I suggest that all the noise in the Financial media, most originationg in the Financial Industry about China’s “Collapse/Problems/Catastrophe etc etc) is designed purely to obfuscate the fact that the decline in commodity prices is NOT due to aggregate demand changes but actually confirms that Financial speculation was behind the run-up in the first place. Which could be embarassing at present with JPM’s “Hedges” and all?

  10. VennData says:

    Shortage of Homes for Sale Creates Fierce Competition

    http://www.latimes.com/business/la-fi-inventory-20120610,0,730173,full.story

  11. end game says:

    2 out of 12 replies relevant to the article. Golf balls? Real estate in Syracuse? BR, now I know what you mean by “Any irrelevancies you can mention will also be appreciated.”