Glasnost?

April 21, 2011
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Mercenary Links Roundup for Wednesday, April 20th (below the jump).

04-20 Wednesday

Bernanke to Open Up as Fed Embarks on Era of Glasnost – WSJ.com


Manufacturers Boom on Global Demand, Spurring Stocks to Three-Year High
U.S. manufacturers see improving economy ahead | Reuters
Railroads Riding Big Industry Gains – WSJ.com
Sparkly Earnings Propel a Broad-Based Stock Rally – NYTimes.com


Federal Borrowing on Pace to Hit Debt Limit in Less Than Week | CNSnews.com
Obama, at Facebook, Says U.S. Finances Are ‘Unsustainable’ – Bloomberg


Chipotle Faces U.S. Probe Over Hiring – WSJ.com
AmEx profit rises but costs soar; shares dip | Reuters
Yum sales surprise, up on strength in China | Reuters


Apple Profit Surges 95% on Record iPhone Sales – WSJ.com
Apple crushes forecasts again, iPad backlogged | Reuters
IPads and iPhones Found to Track Locations – NYTimes.com
Apple Lifted by Verizon Deal and iPad and MacBook Updates – NYTimes.com


Oil prices likely to keep rising until June – MarketWatch
Gasoline Prices: $6 Gas? Could Happen if Dollar Keeps Getting Weaker – CNBC
Unreliable Data Roil Oil Markets Further – WSJ.com
BP Sues Transocean and Cameron International, Maker of Blowout Preventer
Solar Panels Take to the Water – NYTimes.com


Gold and Silver Prices Surging – NYTimes.com


Borrowing Costs Rise for Spain and Portugal – NYTimes.com
New Swiss Tax Rules Signal Big Changes for Private Banks – NYTimes.com
Report Backs Irish Asset Sales – WSJ.com


Iceland Holds Rates Amid Worries About Economy – NYTimes.com
Brazil Raises Key Interest Rate – WSJ.com
China Signals Yuan May Be Inflation Tool – WSJ.com


Carry trade focus hits dollar
Dollar at 2-1/2-year low, gold near record high | Reuters
Swedish Krona Rises to 2 ½-Year High Versus Dollar on Interest-Rate View
ECB Raising Rates May Turn Into Mistake Weakening Euro, Standard Life Says
Australia Won’t Manipulate Aussie Now at Record, Rudd Says – Bloomberg


Capitalism is failing the middle class | Chrystia Freeland
CEO pay dwarfs employee pay, AFL-CIO highlights – Apr. 19, 2011
Business education: The race to the bottom | The Economist


Emerging Economies’ Fear: Easy Credit – WSJ.com
Low Birthrate Threatens South Korea Economy, Governor Says – Bloomberg


Chinese Demand Rides to Uranium’s Rescue – WSJ.com
Trucker Strike Hits Shanghai In Protest Over Surging Fuel Costs And Low Wages
Mori Building Sells Five Stories of China’s Tallest Property – Bloomberg


Ethnic Militias Fuel Tensions in Northern Afghanistan – WSJ.com
Syria Steps Up Its Crackdown While Promising Reform – NYTimes.com


Gut Bacteria Divide People Into 3 Types, Scientists Report – NYTimes.com
Robert Lane Greene on Language and the Mind | FiveBooks | The Browser
What Defines a Meme? | Arts & Culture | Smithsonian Magazine
Face Blind
Carl Icahn at 75
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2 Responses to Glasnost?

  1. Mark Mulcahy on April 21, 2011 at 5:05 am

    Yes all very well and lots of good stuff. But guys the good ole USA aint what she used to be she is drowning in debt and if she was a horse she would have been put out of her misery a long time ago. Just maybe the greenback is reaching the stage of not being the quasi "reserve" currency, if China or Japan for that matter wanted to force the issue and sell US bonds Uncle Sam would collapse in a heap. The fact that the Dow is measure against 30 companies …come on lets get a real average. The world is changing and China is slowly sneaking up on you adjustment of Yuan or not. QE2 and still the US complains that that China is keeping the Yuan artificially low … hello.

    • Jack Sparrow on April 21, 2011 at 5:29 am

      Not really… to sell bonds is to sell $USD, considering the Fed can swap $USD for bonds (thus supporting bonds) at the press of a button, and neither China nor Japan can instigate a $USD collapse without slitting their own throats. Apart from the challenge of absorbing massive losses in their own multi-trillion cumulative $USD denominated portfolios, the impact on raw materials prices would be fatally destabilizing, especially for China's brittle system already at risk from rising social unrest.

      In respect to destabilizing knock-on effects the $USD is very much "too big to fail" in the same sense that AIG was too big to fail — too many global counterparties at risk of getting fragged were there ever to be true meltdown. Except of course, in the aftermath of the subprime crisis it became clear that AIG was the sucker (along with the taxpayer)… in respect to China hoovering up America's paper, it remains to be seen who the sucker is.

      Re, Dow, umm… maybe send your complaints to CNBC? As for Uncle Sam complaints, re, yuan manipulation and whatnot — the official line is utter hypocritical bullshit of course. This goes without saying. The vast majority of public discourse between nations is hot air, political theater and strategic grandstanding.

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