Google Analytics

Friday, September 2

2nd Sep Late - G.I. Joke

Summary: The Greek and Italian situation is getting completely out of hands, it is now a "G.I. Joke". The troika of eurocrats and IMF were called back from Greece, the independent auditor of Greek budget austerity was fired, Berlusconi is a complete joke, Italy has cancelled the most important austerity measures. Banking system in Europe in the same sorry state and nothing done. The situation is not much rosier outside the euro area. Global recession is practically confirmed, but not officially. The banking system in U.S.is about to face the hatred of the government. Very good links today, don't miss the Goldman Sach's research note. 
Summary of the above + scribd link to full paper with charts at Zero Hedge


Short list of some key issues, nothing new but good to check you remember all the pieces

FINANCIAL CRISIS
Goldman Sachs released a special report two weeks back to its best clients. Here’s a copy.

Just what the financial sector needs: the government is coming after the banks after all. Links to major articles on Friday covering the events and discussion.

Response to a recent academic paper.
Financial Complexity, Part 1 – The Aleph Blog

Stiglitz’s power point presentation at the Nobelist meet in Lindau one week ago

True unemployment around 16.2%: “Things are much worse than the reported numbers would have you believe. Moreover, the unemployment rate is barely better than it was a year ago. It would actually be worse than a year ago were it not for people dropping out of the labor force.”

OTHER

Working paper on debt levels. Debt is good up to a level, after that it’s bad.

Update from the task force. Principles for designing and implementing regulatory measures
Shadow Banking - progress and next steps – Financial Stability Board

Rennaissance Technologies is simply the best money manager ever.


DIVERSION
Forecasting forecasts by companies that are trying to forecast consumer behavior, to help consumers get better deals. Confused? Read this.
And now, the gadget forecast – Babbage / The Economist



Review of F.S. Michael’s book.

Speculation how the Google/Motorola’s droid phone will be
Lord of the Droids – technologyreview.com

The Black Hole of 9/11 – Foreign Policy