Diary of a Financier

Bookshelf Update: Top Newsstuffs (Weeks of November 28 & December 5)

In Bookshelf on Sun 11 Dec 2011 at 08:29

Dear Diary,

I haven’t been talking to you lately–not because I’m in a bad mood–but because I have nothing to say.  The following newsstuffs tell a tortured tale of headline mongering in Europe.  Lather, rinse, repeat like they have all year long.  Some other stuff happened over the past two weeks, but you can piece it all together from what follows…


Ritholtz Recommended Reading | The Big Picture

Has The Imploding European Shadow Banking System Forced The Bundesbank To Prepare For Plan B? | ZeroHedge

“…the unwind of the shadow system explains much: the inability of Germany to place bunds, the parking of cash with the ECB, the freezing of repo, the plunge in the currency basis swaps, the withdrawal of money markets, the blow out of various secured-unsecured lending indicators, etc. All of these fundamentally say the same thing: there is too much risk and not enough confidence, to rely on the abstraction that is shadow risk/maturity/and liquidity transformation.”

Act II Begins | Peter Tchir

Lisbon Treaty may be altered without need for referendum | Irish Times

Article 126 (14) protocol 12 of the Lisbon Treaty can be used to avoid referendum and allegedly Parliamentary vote. However, the UK will require to vote in Parliament due to recent passage of the “Sovereignty Act.” So Treaty ammendments can be made a at supra-national EU level, [undemocratically] avoiding sovereign approval.

Paul Tudor Jones: Closing Remarks at Robin Hood Foundation’s 2011 Annual Awards | Absolute Return + Alpha

“I have had trouble sleeping this year. My sleeplessness is due to my worry over the increased social ills that beset this country. One of the reactions to these ills is the Occupy Wall Street movement.  And while I disagree with their message, and I’m not even sure they know what they want, I am extraordinarily sympathetic to what caused them to be there.  And that is the growing poverty that afflicts this nation.  47 million Americans on food stamps can only leas to social instability.”

Survivor of Oil-Tanker Rout Sees Biggest Returns in Coal Carriers: Freight

Germany’s Deal For Europe | Wolfgang Munchau

“Contrary to what is being reported, Ms Merkel is not proposing a fiscal union. She is proposing an austerity club… The goal is to enforce life-long austerity, with balanced budget rules enshrined in every national constitution… She rejects eurobonds on the grounds that they reduce pressure on fiscal discipline.”

Kicking The Can Down The Road Will Officially Stop Working In 2013 | Bruce Krasting

The US (and the world) have set all these ticking time bombs to explode in 2013.

Penny stock endorsed by Tiger Woods & David Ortiz? | Bruce Krasting

“The next Gatorade,” FUSE Science (DROP), has endorsements with major athletes. Is it legit?

Merkel: Joint Euro Bonds “Unthinkable” as EU Faces Debt Crisis Marathon | Bloomberg

Central Banks Announce Coordinated Liquidity Effort to Alleviate Euromess | naked capitalism

Lowering USD swap rates by 50bps effective December 5; new overnight rate set to OIS + 50bps.

Deflation is coming | south of wall street

Cites Bernanke’s playbook from 2002, which he’s following step by step.

ECB Fails To Sterilize Bond Purchases, €9 Billion Shortfall Confirms Euro Bank Liquidity Freeze | ZeroHedge

Quarterly Charts on Consumer Credit | NY Fed

Suddenly something is going wrong with the consumer: Q4 rise in delinquencies breaks 2011 repair trend.

How to Increase Productivity and Enjoy Life More | Tony Schwartz | Harvard Business Review

Living life in rhythmic waves of intensity/recovery increases productivity.




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