These are my links for January 11th:
- LaHood: Auto bailouts were a good investment – MarketWatch – U.S. Transportation Secretary Ray LaHood kicked off the Detroit auto show on Monday by telling reporters that the government's commitment to the car industry was "a good investment of taxpayer dollars." – UM, YEAH, RIGHT.
- Geithner Has Support of Obama, Democratic Lawmakers, Aides Say – Bloomberg.com – Asked yesterday for comment, White House Press Secretary Robert Gibbs said he stood by his earlier statements that the president had full confidence in Geithner. Jim Manley, a spokesman for Senate Majority Leader Harry Reid of Nevada, said “Secretary Geithner enjoys the strong support of the Senate Democratic caucus.” – ATROCIOUS!
- Stocks, Commodities Advance as China Imports Soar; Dollar Falls – Bloomberg.com – “The market doesn’t actually care if more or less Americans have jobs, it’s watching for rate hike signals,” Bill Blain, the joint head of fixed income at Matrix Corporate Capital in London, wrote in a research note. “Other aspects, such as U.S. retail sales or this morning’s dramatic growth in China’s exports, are equally valid indicators of just how strongly the global economy is recovering.” – YES, THE MARKETS DON'T CARE ABOUT THE USA, IT JUST CARES ABOUT $$$$, LIKE IT SHOULD!
- Chavez Devalues Bolivar 50%, First Time Since 2005 (Update1) – Bloomberg.com – Chavez said the bolivar will be devalued to 4.3 per dollar from 2.15 per dollar for most imports. A second, subsidized peg of 2.60 bolivars per dollar will be used for importing food, medicine and machinery intended to boost the economy’s competitiveness. – HA! SOCIALISM = SUCKS.
- New York Seeks National Effort to Curb Salt in Food – NYTimes.com – The plan, for which the city claims support from health agencies in other cities and states, sets a goal of reducing the amount of salt in packaged and restaurant food by 25 percent over the next five years. – FOR A PALEO TYPE PERSON, TOO MUCH SALT IS DEADLY. I'M SURPRISED BY HOW MUCH SALT IS IN PROCESSED FOODS>
- Pimco move to sell gilts raises spectre of a UK sovereign debt crisis – Telegraph – The American investment group said it will be a net seller of UK Government bonds this year, at the very point when the Bank of England brings its £200bn programme of purchases to and end and the Treasury attempts to raise unprecedented sums through the capital markets. – I THINK WE'LL SEE EITHER A DEFAULT IN THE POUND STERLING OR THE USD.
