Daily Reading – Monday, August 1, 2011

Bloomberg: Debt-Limit Deal to Get Congress Vote Today

Congressional leaders, leaving no extra time before a default threatened for tomorrow, are racing to push through a compromise sealed with President Barack Obama last night to raise the U.S. debt limit by at least $2.1 trillion and slash government spending by $2.4 trillion or more.

JESSE’S CAFÉ AMÉRICAIN: US Debt Limit and Debt Versus Gold in US Dollars

Let’s see, when might we expect the price of gold in dollars to stop going higher?

Reuters: Country Sovereign Ratings 

Reuters: Goldman’s new money machine: warehouses

In a rundown patch of Detroit, enclosed by a cyclone fence and barbed wire, stands an unremarkable warehouse that investment bank Goldman Sachs has transformed into a money-making machine.

FT Alphaville: What price UK QE2?

File under faltering economic recovery.

FT Alphaville: Do not underestimate rising EM inflation risk

But, while many are looking for signs of a sharp slowdown, BarCap analysts are leaning towards inflationary risks, in the short-term…

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