Swine flu puts porpoise on brink BBC
15 Year Old Invents Algae-Powered Energy System Inhabitat
Planted Questions Katia Bachko Columbia Journalism Review
Old School Banker Independent Accountant
MTA Sells Subway Station Names Cryptogon (hat tip reader Skippy). You cannot make this stuff up.
Obama and ‘Regulatory Capture’ Thomas Frank, Wall Street Journal
World’s wealthy lose faith in fund managers Times Online
ECB: Record 442 billion Euros “Stimulus by Stealth” Alea
On Goldman’s fat tail risk FT Alphaville
Can the RMB be more undervalued today than it was last year? Michael Pettis
Housing decline likely causing lasting structural unemployment Bubble Meter
Warren Buffett to CNBC: U.S. Economy In “Shambles” .. No Signs of Recovery Yet CNBC (hat tip reader Marshall)
Antidote du jour:
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http://www.marketwatch.com/story/schultz-paints-bleak-picture-of-future
Interesting story on a possibe BANKING HOLIDAY in six month or so.
On Goldman’s fat tail risk
(…)
"The short answer is they tend to make money."
I want to add:
If not, there is always the taxpayer to take the loss.
US / EU China Trade WTO Complaint
Almost every major trading nation have such restraints (or have it denatured like Canada and energy / oil under NAFTA).
What is interesting is this is a systematic effort to dilute what few natural resource cards China do have leverage on, like Lithium.
Somebody, someone, is seeing red over future supplies of these resources.
Parse the list: magnesium (lightweight laptop frames, etc.) bauxite (light weight components): both components are essential to reduce fuel consumption of vehicles, etc., rare earths —- stuff to make magnets (high output electric motors, superconductors, etc.).
Antinomy — LEDs that will be a major energy saving enabler.
Phosphorous — read agriculture —- critical to Chinese agriculture.
If the Chinese were very clever, they would tax these finite resources very heavily in terms of production royalties (non-discriminatory and legal under WTO), or, put the process into a scretching halt by using the National Security exemption of WTO.
Clearly, the US and EU do not want China to have a leg up on the most critical building blocks of the future — enablers of energy saving devices and equipment, and a secure domestic supply of a critical agricultural ingredient.