Summary: Categories getting blurred as feedback effects are getting stronger. I believe my choice of trying to bloglink “everything” is now a good choice, though this is a lot of work. Beginning week, euro interbank markets and the U.S. payrolls on Friday (followed by a presidential address) will be watched closely. Long weekend coming up because of the U.S. holiday on Sep 4th, so I expect position adjusting towards the end of the week. This might be either a risk-on or risk-off event, depending on the then-current taste and feel.
CALENDAR SUMMARIES
Schedule for Week of Aug 28th – CalculatedRisk
Summary for Week Ending August 26th – Calculated Risk
Weighing the Week Ahead: A Deluge of Data – A Dash of Insight
also take a peek at FT’s beyondbrics, for EM calendar, to be published later on Sunday.
EURO CRISIS
Greece’s second- and third-largest lenders merge. This might mitigate risks of banking runs escalating.
As funding becomes more short-term, the amounts to be rolled become larger. One way out of the mess is exploiting low share prices and buying deposit-rich retail banks.
Full copy of Goldman Sachs’ “The Charts That Matter Next Week” included. Good look at the interest rate markets as well.
The Continuing Case For A Weaker EUR – Zero Hedge
FINANCIAL CRISIS
IMF head at Jackson Hole: “World economy entering a dangerous new phase driven by sense that policy makers do not have conviction to take decisions that are needed.”, followed by a to-do list
The world economy: A call to arms – Free exchange / The Economist
As Lagarde Throws Germany And European Banks Under The Bus, Did She Just Truncate Her IMF Career? – Zero Hedge
At the Jackson Hole symposium, ECB head does not surprise
Trichet Open To Non-Standard Monetary Policy If Markets Crash – Business Insider
Efficient: light balance sheet, risk of failure. Stable: heavy balance sheet, capital not at work.
The Rules, Part XXVI (Efficiency vs Stability) – The Aleph Blog
John Mauldin’s latest sees recession, ponders the euro crisis and notices the Fed demographics paper. Nothing new to my followers.
The End of the World, Part 1 – Advisor Perspectives
Should the Fed target nominal GDP? – The Economist
The US is not Japan, but there are some Similarities – The Aleph Blog
Optimistic scenario for U.S.: full recovery not until 2017, but even a drop from the projected 3.5% p.a. growth to 3.0% would push the date to 2020.
How Long Will It Take for the Economy to Recover? – Economist’s View
OTHER
Has a link to the annual survey of tech trends in FX by Streambase
CHINA
In reference to the posts here
China's military power: Modernisation in sheep's clothing – Banyan / The Economist
http://www.economist.com/blogs/banyan/2011/08/chinas-military-power
DIVERSION
Very interesting article
Academic freedom from Hofstadter to Dworkin – Economist’s View
nice video of the universe
The Known Universe – The Big Picture
Why Are Finland's Schools Successful? – Smithsonian / September
Investor Types to Avoid – The Street
People are biased against creative ideas, studies find – physorg.com
Coming in second or third and out-competing the original innovator is the win.
Innovating your way from inventions – Can Turtles Fly