Gold is getting monkey-hammered since 11AM. I guess there's something EM-negative going on, since EEM is also down.
Anyway, here's some news:
Bespoke - Dow trying to break out. After that, I guess it's clear sky. I guess the international banking cabal has forestalled the whole "dishonest system coming apart at the seams", eh? Eh? Cos obviously the fundamentals don't support a Dow breakout, eh? Eh?
Calculated Risk - looking for stronger growth in 2014. Apparently fiscal contraction is a growth-killer, and when you stop fiscally contracting you can start growing. Unfortunately this offends conservatives.
Krugman - Germany's unsurprising lack of reciprocity. Quote:
Germany was able to achieve large gains in competitiveness without deflation, because Spain and others were willing to accept inflation well above 2 percent. But now the eurozone has overall core inflation below 1 percent, which means that Spain can only achieve internal devaluation through crippling deflation.In other words, Germans are still cunts. Surprised?
The Germans, in other words, aren’t asking the southern Europeans to emulate them; they’re demanding that they accomplish a feat Germany never had to manage, and which hardly anyone has ever managed.
Bonddad - Europe is at a buying point. Fine, Mr. TA, let's see how that works out for us.
BI - the EM warning signs are flashing again. US yields going back up means we're back to the old "puke the EMs" play again. Except maybe this time the puke isn't as bad, since the stomach is already mostly empty from the last time? Anyway, chalk up another hasty and poorly-considered move to the supposed coming "Dectaper".
Esquire - stuff about George Clooney. Sounds like a hilarious guy, actually. Quote:
Being Clooney, he does not only write to Brad Pitt, however. He also writes as Brad Pitt. A few years ago, he even had some stationery made up with Brad Pitt’s letterhead. Then he found a book about acting and accents and sent it to Meryl Streep, with an accompanying note. It said, “Dear Meryl, this book really helped me with my accent for Troy. I hope it helps you too.” He signed it “Brad Pitt.” Then he sent another letter to Don Cheadle on “Pitt’s” stationery. As long as Cheadle has been acting, he has dreamt of playing Miles Davis. So the letter informed Cheadle that Pitt’s production company had acquired the rights to Davis’s life story. The letter said that Pitt wanted him to star in it.
As Charlie Parker.