The Financial Times – Why Europe will bounce back in 2013 Europe’s woes have echoes of an east Asian crisis, says Ruchir Sharma Peripheral Europe is approaching the same point. Spain, Portugal, Greece and Italy are on track to shift into current account surplus next year. Europe is also making the necessary, painful adjustment in… Continue reading Europe In 2013
The Financial Times – Bernanke – the rebel with a cause The Fed chairman’s move to target lower unemployment is genuinely radical Mr Bernanke’s first gamble as Fed chairman was to inject $1.5tn into frozen financial markets in late 2008. In comfortable hindsight, this lender of last resort activism looks like a no-brainer: the Fed… Continue reading Bernanke And Gambling
Zero Hedge – Jeff Gundlach On The Fiscal Cliff Circus And Why Investors Should Hold Cash Through 2013 “Something is going to get done, it looks like, between John Boehner who has now blinked a little bit going with the million dollar tax bracket and the president going with the $400,000 tax bracket. They’re getting… Continue reading Jeff Gundlach Speaks About The Fiscal Crisis
<Click on chart for larger image> CNBC.com – Even Gold Bull Jim Rogers Is Turning Cautious With gold prices being hammered in recent weeks, and trading near four-month lows on Wednesday, longtime gold bull Jim Rogers is sounding a word of caution, saying it’s possible the correction in bullion may continue into the new year.… Continue reading Cautious On Gold
<Click on chart for larger image> CNN Money – What about food inflation, Bernanke? The Federal Reserve wants to prioritize jobs over inflation. How will Americans feel about that when they’re paying more for groceries next year? It’s true overall inflation has been mild thanks in part to lower prices across gas stations nationwide. The… Continue reading Food
The Independent – UBS admits fraud in £940m Libor rigging settlement Swiss bank UBS agreed today to pay £940 million to regulators in the biggest penalty yet from the industry’s Libor-rigging scandal. The settlement, which includes a record fine of £160 million from the UK’s Financial Services Authority, is far larger than the total of… Continue reading UBS LIBOR Scandal
None Today
Bloomberg.com – Obama Concessions Signal Potential Bipartisan Budget Deal President Barack Obama lowered his tax revenue demand by $200 billion and offered to start tax rate increases at $400,000 in income instead of $250,000, moving closer to a budget deal with House Speaker John Boehner. Obama’s revised plan would raise $1.2 trillion in taxes in… Continue reading Is A Fiscal Cliff Deal Close?
Either the economy is going to get better by itself in the next three months…What assets are going to do well? Stocks are going to do well, bonds won’t do so well, gold won’t do as well. Or the economy is not going to pick up in the next three months and the Fed is… Continue reading David Tepper Speaks
The Telegraph (UK) – Jeremy Warner: Central banks risk bond market crash in turning monetary dial to 11 In This is Spinal Tap, the spoof documentary about a heavy metal rock band, there is a Marshall amplifier with a volume control which goes all the way up to 11. In any case, inducing a rather… Continue reading When Does The Federal Reserve Stop?
The Wall Street Journal – GE Chief: ‘Investment Pause’ in Some Industries The head of General Electric Co. on Monday said economic uncertainty in the fourth quarter has caused “an investment pause” that has crimped the company’s sales, although he voiced optimism overall and forecast industrial revenue growth in 2013. Jeff Immelt, chief executive, said… Continue reading GE Sees The Economy Slowing
CNBC – Actor Depardieu Hits Back at French PM Over Taxes Actor Gerard Depardieu, accused by French government leaders of trying to dodge taxes by buying a house over the border in Belgium, retorted that he was leaving because “success” was now being punished in his homeland. A popular and colourful figure in France, the… Continue reading Could The Mayans Be Correct After All?