July 21st Early

 EURO CRISIS

German-French Harmony on Greece: Compromise on Bondholders' Role Clears Path for a New Bailout Deal - WSJ

Merkel, Sarkozy to Outline Position on Greek Debt – Bloomberg

“Plan G” from the year 1888 when U.K. was broke

Cook’s consol plan for Greece – Financial Times / Alphaville

The People Behind the Numbers, in English

Greece Threatened with Widespread, Long-Term Poverty – Der Spiegel

Citigroup’s research note:

Willem Buiter thinks water will be bigger than oil – Financial Times /alphaville

FINANCIAL CRISIS

Brian Sack Hints What QE3 Will Look Like, Discloses The Fed Has 200% More Duration Risk Than Normal – Zero Hedge

Weil thinks over half of BoA’s balance sheet is worthless.

Curse the Geniuses Who Gave Us Bank of America: Jonathan Weil – Bloomberg view

Quick two charts showing U.S. vs. Russia’s debt ratios.

Presenting The "Evil Empire's" Projected Debt/GDP – Zero Hedge

In risk on/off-markets and search of safe haven, correlations change

Yen, gold connection emerges – Pragmatic Capitalism

EMERGING

Nice table on the price rises.

China Contracts: HSBC Flash Mfg PMI At 48.9, Down Form 50.1, First Sub-50 Print In A Year As Agriflation Still Rages – Zero Hedge

Barclays & Chartered open up on China’s latest figures

China, nothing to see here – Financial Times / Alphaville

Day’s BRIC-headlines

London headlines – Financial Times /beyondbrics

OTHER

Blog article currently in spin on U.S. low taxation, esp. for corporations

The US Tax Burden Falls Disproportionately On Individuals and Small Business – Jesse’s Café

“Greenland - is oil exploration the key to economic independence? High oil and gas prices push up costs for global mining; and, we ask whether integrated oil companies have a future or will others follow ConocoPhillips, and split in two?”

(audio) Energy Weekly podcast – Financial Times

Some good points, but are probably well-understood by people in the field. Show this to manager or regulator.

The appropriate use of risk models: Part I – Danielsson, Macrae via VOX

The appropriate use of risk models: Part II – Danielsson, Macrae via VOX

DIVERSION

Krugman blogged only a link to Peter Gabriel’s Don’t Give Up.

Music for the Lesser Depression – NYT

Lyrics

Updated: High-End Wall Street Prostitution Ring Busted – Zero Hedge

Is prostitution truly the world’s oldest profession? – Psychology Advice

Exclusive: Inside Darpa’s Secret Afghan Spy Machine – Wired

Essential piece with enough arguments to tide over cocktail party arguments

The Coming Cloud Wars: Google+ vs Microsoft (plus Facebook) - Wired

Defense Department has a call to papers.

Pentagon Seeks to Manipulate Social Media for Propaganda Purposes – Zero Hedge

Crash about to cause unrest? Article thinks so, some folio hat evident, with links to VSP’s stating so.

Raging Inequality May Cause Unrest and Violence In America and the Rest of Western World – Washington’s Blog