Daily Digest

Daily Digest 4/10 - The Curve In The Road, Iceland Rejects Repayment Deal, China Increases Ban On Japan Food Imports

Sunday, April 10, 2011, 9:46 AM
  • NBC’s Brokaw: Saudis ‘So Unhappy' With Obama They Sent Emissaries to China, Russia Seeking Enhanced Ties
  • Mauldin: The Curve In The Road
  • Forget The Bailout: The Euro Rate Rise Could Finish Off Southern Europe
  • Debt Jumped $54.1 Billion in 8 Days Preceding Boehner-Obama Deal to Cut $38.5 Billion for Rest of Year
  • Iceland Rejects UK Repayment Deal
  • If The Banks Forsake London, Where Might They Go?
  • Why Fences, Walls And Other Myths Cannot Save Us From Bankers' Risks
  • Tickerguy's Rebuttal To The Budget "Deal"
  • Stiglitz: Of the 1%, By the 1%, and for the 1% and the Downward Spiral Into the Abyss
  • China Increases Ban On Japanese Food Imports

Crash Course DVDShare the Crash Course with your neighbors: gift them a deluxe edition DVD. (NTSC or PAL)

Economy

NBC’s Brokaw: Saudis ‘So Unhappy' With Obama They Sent Emissaries to China, Russia Seeking Enhanced Ties (Ernest W.)

After remarking on the difficulty of establishing democracy in the Middle East, Brokaw said that Defense Secretary Robert Gates “will face some tough questions in this region about the American intentions going on now with all this new turmoil, especially in an area where the United States has such big stakes politically and economically.”

Mauldin: The Curve In The Road (JRB)

We have chosen deliberately to take the inflation road. We have not traveled that road for some time. The Fed may think they know what is around the curve and what to do if inflation comes back, but no two crises are the same. I worry about these things. If the Fed and the US government wanted a weaker dollar, the return of inflation, and the potential for yet another boom-bust, they could not have designed better policies than the ones they’re pursuing.

Forget The Bailout: The Euro Rate Rise Could Finish Off Southern Europe (SolidSwede)

Fathom also warns that Spain remains vulnerable, despite Madrid insisting last week that its economy is much healthier than Portugal's and its debts are much more manageable. Spanish banks must roll over debts worth more than 5% of GDP this year, and more than 9% in 2012, in addition to the government's financing needs. A two-point increase in the interest Madrid pays in the bond markets – much of which could come from the ECB, even without a further loss of confidence from bond investors – would, on Fathom's calculations, force Spain into a fiscal crisis.

Debt Jumped $54.1 Billion in 8 Days Preceding Boehner-Obama Deal to Cut $38.5 Billion for Rest of Year (Dana T.)

The federal debt increased $54.1 billion in the eight days preceding the deal made by President Barack Obama, Senate Majority Leader Harry Reid (D.-Nev.) and House Speaker John Boehner (R.-Ohio) to cut $38.5 billion in federal spending for the remainder of fiscal year 2011, which runs through September.

Iceland rejects UK repayment deal (SolidSwede, pinecarr)

The first proposal to pay back the UK, and also the Netherlands, was overwhelming rejected in January 2010 by 93pc, as the island nation's population objected to being punished for the woes of their banking industry and the high interest rates of 5.5pc.

Under the new deal, proposed following talks between the countries, Iceland would have paid a lower interest rate of 3.3pc to Britain. The recovered assets of Icesave's parent bank, Landsbanki, were expected to cover the majority of the debt.

    Crash Course DVDShare the Crash Course with your neighbors: gift them a deluxe edition DVD. (NTSC or PAL)

If The Banks Forsake London, Where Might They Go? (pinecarr)

As a public service to wavering bankers, we have put together a handy guide to alternative bases – including eateries where our relocated financiers could offload part of that hefty bonus.

Why Fences, Walls And Other Myths Cannot Save Us From Bankers' Risks (pinecarr)

The reckless behaviour of Britain's biggest banks has imposed untold damage on the domestic economy, harming the livelihoods of millions of ordinary firms and households. So the ICB's work will have a significant impact, for better or worse, on the future prosperity of the British people.

Given London's importance as an global financial centre, this Commission and its aftermath could also influence the shape of the world economy.

Tickerguy's Rebuttal To The Budget "Deal" (pinecarr)

Simplified explanation of Quantitative Easing

Stiglitz: Of the 1%, By the 1%, and for the 1% and the Downward Spiral Into the Abyss

Listen to what Stiglitz has to say, and think about it. He is not perfect, the documentary Inside Job was not perfect, but start thinking for yourselves, and stop taking the easy route of allowing others to think for you, and mouth their slogans. They are only too willing to tell you what to think, what is real even if your eyes say no, if you let them.

Environment

China Increases Ban On Japanese Food Imports (pinecarr)

China has expanded a ban on imported food and farm produce from Japan amid growing fears of radiation contamination.

Article suggestions for the Daily Digest can be sent to [email protected]. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the "3 Es."

6 Comments

DavidC's picture
DavidC
Status: Silver Member (Offline)
Joined: Sep 29 2008
Posts: 243
Corrected link for Debt Jumped $54.1 Billion in 8 Days Preceding

http://www.cnsnews.com/news/article/debt-jumped-54-billion-8-days-preceding

DavidC

idoctor's picture
idoctor
Status: Diamond Member (Offline)
Joined: Oct 4 2008
Posts: 1731
Exclusive: Bill Gross Is Now

Exclusive: Bill Gross Is Now Short US Debt, Hikes Cash To $73 Billion, An All Time Record

http://www.zerohedge.com/article/exclusive-bill-gross-now-short-us-debt-hikes-cash-73-billion-all-time-record

littlefeatfan's picture
littlefeatfan
Status: Silver Member (Offline)
Joined: Jul 20 2009
Posts: 141
Weekly 3E recap

http://3es.weebly.com/  weekly 3 E recap posted on Fridays or Saturdays, many posted here but several not. Daily postings @ThreeEsEmail on Twitter

Woodman's picture
Woodman
Status: Diamond Member (Offline)
Joined: Sep 26 2008
Posts: 1028
The Mauldin artical on

The Mauldin article on inflation expectations is a good read, thanks.

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Iceland

If I were an Icelander, I would vote not to pay the bankers back their fictional money.

I hear that England wants to enslave the Icelanders with this fiction. Let us hope that the Icelanders can return the favour.

Go the Vikings.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Login or Register to post comments