Thursday, October 14, 2010

Links Oct 13: currency war

America will win. Martin Wolf
Thailand joins the war. FT
Australia won't join. Michael Stutchbury
Yet. Adele Ferguson
Why printing money makes sense. Dean Baker
And why it doesn't. Karen Maley
Signs of life in US refinance index. Calculated Risk
JP Morgan on ForeclosureGate. Calculated Risk
JP Morgan abandons MERS. Zero Hedge
Moral hazard in Australian banks. Ian Verrender
Foreign student numbers collapsing. The Age
All precious metals pouring it on. Bloomberg
China ore imports down Jan-Sep. Steel Orbis
Fitch schmitch. Delusional Economics

5 comments:

The Lorax said...

The global recovery is much stronger than official rhetoric would suggest according to Adam Carr.

Why can't you just accept that the world is booming and everything is fine?

The Lorax said...

Carr says:

the undeniable reality is that global growth was strong across the board in the second quarter (including the US) and driven by private demand – not inventories or public spending – but consumers and businesses.

Including the US!

Please respond to this because Carr posts this uber-bullish stuff day after day after day. If the US is so strong why have interest rates been effectively sub-zero for more than two years?

P.S. The date is wrong in the title.

David Llewellyn-Smith said...

Adam Carr is a permabull. Nothing further need be said. My advice is stop reading him. He will deliver you nothing but dispepsia...

The Lorax said...

Yeah Carr is a permabull, but I'm sure he would label you a permabear. Why should I take either of you seriously?

Its true that Carr completely ignores the underlying weaknesses in the US economy, but equally, the bears have been dead wrong for the past 18 months on the direction of equities, commodities, and the strength of the Chinese and Australian economies.

Bear Feller said...

Speaking as a "bear" Lorax, I think plenty have been calling a rally for almost the entire post-March melt-up. We acknowledge that the fundamentals and the macro story is still crap, but we're happy to ride the bull.