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Saturday, September 10

10th Sep Weekender Part 1 - Euromancer

Summary: I’ll post views and discussion later this weekend. The 9/11 links have been updated. Notice Zero Hedge's excellent calendar / cheatsheet post.

News roundup (this is the best news page I’ve seen on the net, but terrible to read. I read it on Google Reader, which formats it nicely)
Today's Headlines – Between The Hedges

EURO CRISIS
Excellent discussion, with all the BB charts required to understand the gameboard
** Credit Update: Chandrasekhar Limit – Pragmatic Capitalism

No to economic EU-government, as the treaties are in place, but Estonia does not know how to make e.g. Italy to agree to previous treaties

** Barclays’ notes on the bond swap – calcs for both scenariors
“A Greek default would be extremely messy, but in theory it can be contained. This is perhaps why German authorities are now focusing on their Plan B. If one must die to save the group, Greece will be it.”

Fund is reactivating 580b resource pool, just like before previous bailouts. They know.

From Thursday evening, again quality from Evans-Pritchard.

Consensus emerging in Berlin that only solution is “more Europe

“Central Banks stand ready to provide liquidity as required”
G7 communique: in full – The Telegraph

Every man for himself, basically.

“When fear dominates, the worst case scenario suddenly becomes the one everyone thinks about.”
When Fear Dominates – The Street Light

No, never, only market rumors. Somebody spreading them on purpose!

European leaders are at a fork in the road. They’ll probably go straight on.


Some debt rolling coming soon, equity ratio low and old debts at very low interest. CDS prices now high and debt bound to be expensive. Same trouble with many others.


“distinction between independent central banks and their sovereign backers blurred”

OTHER
Next regime – China as the consumer, U.S., Europe and Japan exporting?
Thoughts on Currency Wars – Rational Capitalist Spectator

Mebane Faber’s latest quant paper

DIVERSION
Collection of short articles on various marketing topics

Review of Robert Whitaker’s book on depression medicalisation
Anatomy of an EpidemicFarnam Street