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Monday, June 24, 2013

More news


Evening news:

Bespoke - UST10Y most extended in 50 years. This is really starting to look like that idiot 110 Yen move we saw just last month - as in, temporary.

Calculated Risk - Dallas regional mfg surges in June. To the best of my memory, regional manufacturing reports have generally stank; so several strong mfg reports in a row is a positive sign for the US economy, no? Or is manufacturing not "organic" enough for you?

Economist's View - the intellectual bankruptcy of the Austerians. Maybe once that movement gets killed off we can move to holding the hard money clowns up for some ridicule? Cos they really need it.

Krugman - dead-enders in dark suits. The recent BIS gets utterly dismantled by the cold scalpel of reality. I like Krugman cos he knows when to punch 'em hard in the ballsack.

Michael Shaoul - Italy consumer confidence rising. So we should be at a bottom for Italy now.

FT Alphaville - weapons of mass Ponzi in China. Again, 1.5T yuan in WMPs matures by the end of this month. And I think I said this was the point, even before FT ripped off Bill Bishop.

FT beyond brics - PBoC cash crunch statement. They've finally owned up to it.

Michael Shaoul - the PBoC's relationship to Chinese markets. So... it's a bad thing that real estate and construction will be slowing down in China?

Reuters - Indian jewellers join government campaign to cut gold buying. Uh-oh! Y'all be fucked now, Cletus.

FT beyond brics - the shaken complacency of EM leaders.

Reuters - Barrick to lay off 30% of its office staff. If they're anything like my company (which isn't particularly mining-related), they probably have a grossly bloated HR department who spend most of their time either posting on Facebook or coming up with stupid ideas that don't involve digging rock out of the ground. Quinton, your dream of mass layoffs of the suits is coming to pass!

Mining.com - China's voracious demand for copper. Y'know, I'm not totally negative on the base metals - I just question if demand can go up faster than new mines can get built. The developing world is still full of billions of people who make crap out of reeds and heat their houses with poop.

BI - hey interns! You're lucky to have a job. In my industry (engineering), we pay our students... not well, maybe, but they have to get something cos we need competent staff to not quit our company for a $5/hr raise somewhere else.

As for media interns? Here's how you fix the situation. Find out where your boss' kids (or grandkids) go to school. Kidnap them. Cut off an ear or a nose - something identifiable, not too big cos you want to save postage - and send it to the boss. I guarantee you you'll be able to negotiate a decent raise.

I'm pretty sure this is how they do things in more enlightened countries.

3 comments:

  1. Grrrh. Fuckin Krugman. Good piece though.

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  2. The FT links always redirect me to their home page. It gets frustrating going to their site.

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    Replies
    1. You have to "sign up". But I rarely link to their quota articles and never to their pay ones.

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