| Charting The -1.000 Correlation Between Stock Prices And Volume |
ZeroHedge, 27/07/2010 (traduire en Français  )
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| http://www.zerohedge.com/article/charting-1000-correlation-between-stock-prices-and-volume |
| Will The Record Plunge In Shadow Liabilities Impair Current Account "Shadow" Deficit Funding And Guarantee A Double Dip? |
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ZeroHedge, 25/07/2010 (traduire en Français )
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| http://www.zerohedge.com/article/will-record-plunge-shadow-banking-liabilities-impair-shadow-funding-us-current-account-defic |
bilan des banques commerciales et bilan du Shadow Banking System :
la décomposition du bilan du Shadow Banking System :
et sa dérivée :
...| The next foreclosure crisis |
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PBS, 27/07/2010 (traduire en Français )
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| http://video.pbs.org/video/1547461509 |
Watch the full episode. See more Need To Know.
| Summer Rerun: America: Banana Republic Watch |
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naked capitalism, 06/05/2007 (traduire en Français )
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| http://www.nakedcapitalism.com/2010/07/summer-rerun-america-banana-republic-watch.html |
This focus on data has prevented me from discussing other Banana Republic Indicators. Let me give you a starter list:
This list is admittedly incomplete; I’ll add to it as news items prompt me. On the one hand, America doesn’t hew closely to that profile. On the other, just like the dubious statistics, we have started down the slippery slope on some of them.
| Goldman's Derivatives Clearing Service: The Better To Cheat You With My Dear |
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Economic Policy Journal via Jesse's Café Américain, Robert Wenzel, 27/07/2010 (traduire en Français )
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| http://jessescrossroadscafe.blogspot.com/2010/07/goldman-in-derivatives-central-better.html |
Is it me, or does it just seem that whatever the rules or regulations, Goldman comes out on top and pretty much ends up running the show?
Regulators are preparing rules that will require the majority of privately traded derivatives be cleared through central counterparties.
Goldman Sachs announced today the launch of its Derivatives Clearing Services (DCS) business. The DCS will provide clients with a comprehensive global OTC clearing service for interest rates, credit, foreign exchange, equities and commodities, says Goldman.
| Le "déflationnisme doux" et ce qu'il signifie pour l'or |
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La Chnorique Agora, Bill Bonner, 27/07/2010 (traduire en Français )
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| http://www.la-chronique-agora.com/articles/20100727-2929.html |
Qu'est-ce que tout ça signifie pour l'or ? Eh bien, ça veut dire que l'or ne connaîtra pas une hausse spectaculaire. Il pourrait décliner... disons jusqu'à 850 $ environ.
Mais le marché haussier de l'or finira par reprendre, toutefois. On ne peut pas maintenir un bon métal au plancher. Simplement, ne vous attendez pas à le voir effectuer une grimpée spectaculaire pendant que le secteur privé réduit ses dettes de manière ordonnée.
Est-ce que ça signifie que vous devriez vendre votre or ? A votre place, nous ne le ferions pas. Parce qu'il peut arriver que quelque chose tourne très mal. Une autre grande faillite bancaire. Un effondrement en Chine. Il ne faudrait pas grand-chose pour provoquer une panique. Les investisseurs pourraient se tourner vers l'or pour la sécurité.
Ou peut-être que les autorités vont paniquer... et larguer des dollars par hélicoptère, comme avait averti Ben Bernanke.
| Fake £1 coins rising in circulation, figures show |
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BBC News, 27/07/2010 (traduire en Français )
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| http://www.bbc.co.uk/news/business-10774366 |
Nearly two million counterfeit £1 coins were returned to the Royal Mint in the last financial year, figures show.
This was more than 23 times higher than the number seized six years earlier, MPs were told.
An estimated one in 36 £1 coins in circulation are counterfeit, prompting a campaign by the Royal Mint telling people how to spot fakes.
"These automated systems are capable of detecting and withdrawing a significant number of counterfeit coins," she said.
Financial institutions handled more than three billion £1 coins a year, she said.
| David Rosenberg raises odds of double-dip recession to 67% |
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Financial Post, 26/07/2010 (traduire en Français )
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| http://business.financialpost.com/2010/07/26/david-rosenberg-raises-odds-of-doube-dip-recession-to-67/ |
In his Monday note to clients, the chief economist and strategist at Gluskin Sheff + Associates said he has raised the odds of a double-dip recession in the United States from 45% a month ago to 67%, based on his firm’s in-house economic modelling.
He warned aggressive tax hikes are in store should the Obama administration follows through on its promise to allow the Bush tax cuts to expire. It is estimated the top marginal income tax rate would go from 35% to 41%; capital gains goes from 15% to 20%; the top dividend rate rises from 15% to 39.6%; and estate taxes from 0% to 55%.
“Only three other times in the post-Second World War era has the tax bite been this aggressive, and hard landings in the economy followed soon thereafter in two of those three episodes,” he warned.
| $38 Billion 2 Year Bond Comes At Lowest Ever 2Y Yield On Record Of 0.665% |
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ZeroHedge, 27/07/2010 (traduire en Français )
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| http://www.zerohedge.com/article/38-billion-2-year-bond-comes-lowest-ever-2y-yield-record-0665 |
| Jim Rickards |
King World News, 26/07/2010 (en Français  )
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| http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/7/26_Jim_Rickards_.html |
| Inflation and the Fall of the Roman Empire |
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Joseph R. Peden, 07/09/2009 (traduire en Français )
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| http://mises.org/story/3663 |
The Roman state survived. The liberty of the Roman people did not. When freedom became possible in the West in the 5th century, with the barbarian invasions, people took advantage of the possibility of change. The peasantry had become totally alienated from the Roman state because they were no longer free. The business community likewise was no longer free. And the middle class of the cities was no longer free.
The economy of the West was perhaps more fatally weakened than that of the East. The early 5th century Christian priest Salvian of Marseille wrote an account of why the Roman state was collapsing in the West — he was writing from France (Gaul). Salvian says that the Roman state is collapsing because it deserves collapse; because it had denied the first premise of good government, which is justice to the people.
By justice he meant a just system of taxation. Salvian tells us, and I don't think he's exaggerating, that one of the reasons why the Roman state collapsed in the 5th century was that the Roman people, the mass of the population, had but one wish after being captured by the barbarians: to never again fall under the rule of the Roman bureaucracy.
In other words, the Roman state was the enemy; the barbarians were the liberators. And this undoubtedly was due to the inflation of the 3rd century. While the state had solved the monetary problem for its own constituents, it had failed to solve it for the masses. Rome continued to use an oppressive system of taxation in order to fill the coffers of the ruling bureaucrats and soldiers.
| The U.S. Economy’s Lost Decade |
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The Big Picture, Barry Ritholtz, 27/07/2010 (traduire en Français )
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| http://www.ritholtz.com/blog/2010/07/the-u-s-economys-lost-decade/ |
| What is a Billion Dollars? |
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The Big Picture, Barry Ritholtz, 27/07/2010 (traduire en Français )
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| http://www.ritholtz.com/blog/2010/07/what-is-a-billion-dollars/ |
| Case-Shiller: House Price indexes increase in May |
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Calculated Risk, 27/07/2010 (traduire en Français )
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| http://www.calculatedriskblog.com/2010/07/case-shiller-house-price-indexes.html |
| Survey shows house prices falling in June, but long wait for house price indexes |
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Calculated Risk, 26/07/2010 (traduire en Français )
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| http://www.calculatedriskblog.com/2010/07/survey-shows-house-prices-falling-in.html |
A drop in homebuyer activity helped trigger a noticeable decline in home prices between May and June, according to the latest Campbell/Inside Mortgage Finance Monthly Survey of Real Estate Market Conditions.
...
Average prices tumbled by 6.8% for move-in ready foreclosed properties, 6.3% for short sales, and 4.6% for non-distressed properties.
“Contracts signed in June will be closing in July and August,” explained [Thomas Popik, research director for Campbell Surveys]. “That’s why we know prices for closed transactions will continue their decline. But this won’t be reflected in the publicly-released price indexes until October or November.”
| Zone euro : hausse surprise de la masse monétaire M3 |
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AOF via boursorama, 27/07/2010 (en Français )
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| http://www.boursorama.com/international/detail_actu_intern.phtml?num=ebcd99bf6f2b0cc4684b731d63a957ec |
La masse monétaire M3 dans la zone Euro a enregistré une croissance de 0,2% en rythme annuel en juin, alors que les économistes interrogés par Reuters anticipaient en moyenne un repli de 0,1%.
| Les craintes d'une pénurie du crédit en Europe s'estompent |
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L'Expansion, 27/07/2010 (en Français )
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| http://www.lexpansion.com/economie/actualite-economique/les-craintes-d-une-penurie-du-credit-en-europe-s-estompent_236332.html |
Dans le détail, le schéma reste le même que ces derniers mois, avec un crédit aux particuliers qui continue à se redresser (+2,8% en juin sur un an) tandis que celui aux entreprises restent en baisse (-1,9%).
Pour la BCE, ce phénomène est conforme au cycle classique de reprise où les particuliers reviennent à l'emprunt plus tôt que les entrepreneurs.
| Bâle 3 sera modifié, le secteur bancaire exulte |
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Boursorama, 27/07/2010 (en Français )
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| http://www.boursorama.com/infos/actualites/detail_actu_marches.phtml?num=7128142cfc91764d07357c668a6d3ffa |
Nous assistons à l'une des plus fortes hausses collectives du secteur bancaire (+5% en Europe, +8% à Paris) depuis mars 2009 (et même 2003) avec surtout un nombre record de 'gaps' haussiers à l'ouverture (les 5 financières du CAC40 pulvérisent simultanément de fortes résistances moyen terme, sans même les effleurer dans certains cas).
Lorsque de nouvelles règles prudentielles édictées dans 'l'intérêt général' ne conviennent pas à tout le monde et sont considérées comme un frein aux affaires, ceux qui les subissent sont supposés s'adapter.
En l'occurence, la règle va connaître une nouvelle excception (après que la Loi Obama ait été vidée de sa substance) puisque Jean Claude Trichet se montre réceptif à de nombreux reproches adressés au projet 'Bâle 3' par le secteur financier.
Aucun calendrier de mise en application n'avait encore été arrêté mais la levée de bouclier était quasi unanime à l'encontre de certaines dispositions relatives aux fonds propres des banques.
Les 'modifications' porteront le niveau des fonds propres, l'instauration d'un ratio de levier de 3% minimum ainsi que le report de la mise en place du ratio de liquidité.
| L'Allemagne confirme s'être abstenue sur les accords de Bâle III |
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REUTERS via investir, 27/07/2010 (en Français )
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| http://www.investir.fr/infos-conseils-boursiers/actus-des-marches/infos-marches/l-allemagne-confirme-s-etre-abstenue-sur-les-accords-de-bale-iii-271591.php |
L'Allemagne a confirmé mardi ne pas avoir approuvé le projet de réforme de la réglementation bancaire dite Bâle III et a dit qu'elle s'abstiendrait de prendre position tant que ses doutes relatifs aux fonds propres ne seraient pas levés.
Le but de Bâle III est de contraindre les banques à détenir davantage de capital et de meilleure qualité, de façon à pouvoir résister à l'avenir à des chocs sans l'aide des fonds publics, à l'inverse de ce qui s'est passé lors de la dernière crise financière.
pour traduire automatiquement les liens avec google)
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