Green Shoots & Leaves
Bloomberg - Japanese Prime Minister Yukio Hatoyama will probably unveil his first stimulus package today amid growing signs that the recovery in the world’s second-largest economy is losing momentum.
Financial Times - The value of UK commercial real estate debt in default or in breach of key lending agreements more than doubled to about £30bn in the first six months of the year, adding pressure on the banking sector, a survey has revealed. Banks have also extended or refinanced an extra £16bn in the first-half of the year. Remember Michievillian’s, we have turned the corner! Ya, right into a wall.
Whiskey & Gunpowder - Four Reasons Hyperinflation Hasn’t Hit the U.S. Economy Yet
Seeking Alpha - A new Rasmussen Reports national telephone survey finds that only 21% of adults believe the president should reappoint Bernanke to another four-year term.
Yahoo Finance - More people were late with their auto loan payments in the third quarter as job losses continued, but amid rising delinquencies there are positive signs for the economy in certain states. You’ll get a kick out of what the idiot considers “positive signs”.
Seeking Alpha - In a sure sign of tepid recovery, we continue to see improvement off the lows, but a still very meager traffic trends. A recovering economy would have no problem overcoming the very low levels of last fall, but we actually continue to see declines. Total intermodal traffic was down 6.4% versus 2008 and down a staggering 32% versus 2007.
Guardian - The likelihood of Greece becoming the next Iceland and plunging into bankruptcy looms over a meeting of EU finance ministers in Brussels today as the Greeks prepare to take another pasting from their colleagues. It’s all Greek to me.
Times Online - There were reports of public outrage and confusion after the announcement of the measure, which requires North Koreans to swap existing won notes for new ones at an exchange rate of one to 100 — effectively knocking two zeroes off their value. Because of a cap of 100,000 won per family (£475 at the official exchange rate), anyone with significant holdings of cash will have their savings wiped out.
December 3rd, 2009 at 11:02 pm
It seems damned near every Country on Earth is in financial difficulty,so,of course,this is a GRRREAT time to hold a tax the hell outta me conference in Denmark. The hot air tax!
Maybe nobody should show up,the MSM MIGHT report that.
And as for the Japanese crisis,the solution is obvious; send the Imperial Navy carrier fleet out to attack Pearl Harbour. This coming Sunday,Dec.6th,2009 would seem just about right. Nobody will expect a thing to happen the Day Before that Other Day.
Then we’ll get to hear Obama REALLY wax eloquent,”this is a uh,day,which,uh, all things being uh equal,will uh,be remembered”,uh,for quite some time. And I’ll speak,uh, to the Japanese uh people,about how we offended uh them on this uh day”.
Boy,you Yanks are lucky to have a guy like that at the helm.
December 4th, 2009 at 5:54 am
I said enough, and took my money out of the sock under my bed and went on a big building project this month.
I figured I was gonna get something out of my dollar now before it wasn’t worth anything anymore.
It gave me a lot of satisfaction and a few people were able to buy groceries and pay rent for another month.