Diary of a Financier

Top Newsstuffs (August 27-September 2)

In Bookshelf on Sun 2 Sep 2012 at 07:09

Extra! Extra!…

White House unveils two of its beer recipes | Newsday
Barack Obama is a beer lover and a homebrewer: honey brown ale & honey porter.

Rail Traffic Weekly: Growth Maintaining Velocity | Association of American Railroads (AAR)
Carloads -2.4% and Intermodal +3.6 (cumulative ytd volume); -0.8 and +5.2 respectively (vs. this week last year). 10 of 20 carload groups posted gains: Petroleum products +55.7%, Farm products +26.5 & Lumber/wood +20.8; Metallic ores -17.5% & Waste -14.5.

Transcript: Ben Bernanke from Jackson Hole, “Monetary Policy since the Onset of the Crisis” (2012.08.31) | Federal Reserve Board (FRB)
The anticipated speech brought us no closer to QE3. Rather, it was the Chairman’s memoir about nontraditional policy measures, which have added 2mm jobs and 3% to GDP.
[His transparency & honesty was refreshing, as ever, and this is a must-read work. To be sure, it was an academic presentation in which a professor presents his results from the great monetary experiment. It also demystifies the Fed, lost in uncharted waters, no longer an “omniscient” watchkeeper.]

Record EUR Longs Suggest Caution into Next Week | CitiFX
Broad-based EUR buying against all pairs (USD, AUD & CAD) has FX traders holding record net longs–a sign of extreme confidence in proximate Central Bank easing measures.

Germany’s Constitutional Court Ruling on the European Stability Mechanism: The Complete Guide | Hans-Werner Sinn (Project Syndicate)
On September 12, the high court will have a ruling regarding the constitutionality of the ESM per the Maastricht Treaty and Germany’s own Grundgesetz (Basic Law).

Spanish Bank Deposit Flight: Record Decline in July | ZeroHedge
Spain’s bank deposits fell 4.7% in July to €1.5T, the sharpest monthly drop since records began in 1997.

Trader: The Paul Tudor Jones Documentary | Vimeo
The original documentary aired on PBS in 1987, but PTJ had PBS bury the film shortly thereafter. VHS tapes still exist, but few have caught a glimpse until this Vimeo release.

Securitized Rentals: Wall Street’s Latest Walk Down Main Street | naked capitalism
More real estate innovation. [I thought of this one years ago.]

Netherlands Housing Bubble Bursting | Sober Look
Dutch home prices have fallen to 2004 levels–a big burden with the highest household debt levels in Europe. Almost equivalent to 2011 GDP, Dutch mortgage debt is €640b ($790b), of which the government guarantees ~22%.



  1. […] from droves of self-employed). [Eurocrisis contagion has spread from periphery to core. Previously.] […]


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