Daily Reading – Thursday, July 28, 2011

Macro Man: Catching Dutch Disease

All quiet on the Western Front where “No news is bad news” and hence, yesterdays drop. With Europe and US jostling for top dog status (dog as in “real dog”) everywhere else is a safe haven. And on that basis the AUD is just going from strength to strength and its correlations to US equities is now completely reversed. CPI data yesterday has just added to the joy as it looks like the RBA will hike in August. Even through TMM’s jaundiced eyes, any country that offers the chance to be paid more than an Investment Banker to blow things up really is God’s country. We are ditching the suits and going”49er”.

Calculated Risk: Fed’s Beige Book: “Pace of economic growth has moderated”

Reports from the twelve Federal Reserve Districts indicated that economic activity continued to grow; however, the pace has moderated in many Districts.

The Slope of Hope: NASDAQ False Breakout Unfolding

The Slope of Hope: Shorting GLD at Top of Wedge

The Slope of Hope: No Ship, Sherlock (Again)

The Big Picture: CFNAI — Toeing the Line

So, where are we as of this month’s print? Try -0.60, a mere 10 bps from what is likely recessionary terrain…

Kids Prefer Cheese: Educated Leaders, More Growth?

This article uses data on more than 1,000 political leaders between 1875 and 2004 to investigate whether having a more educated leader affects the rate of economic growth.

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