TOP
STORIES:
A Lost Decade for Savers - (www.bloomberg.com) The 1990s were a lost decade
for Japan. The 2000s delivered a lost decade to U.S. investors. Now, five years
into the onset of the financial crisis, with stock and bond markets booming,
housing resurgent, and even Detroit redeemed, it’s savers who find themselves
in a lost decade. This runs counter to the lessons of the credit bubble. We
were urged to spend less, save more, tell fewer lies on our mortgage
applications. Problem is, the jumbo monetary response to that era’s
excesses—0 percent interest rates, followed by trillions in quantitative easing
and a vow to keep rates this low until at least 2015—is bent on getting people
and companies spending and investing (and out of cash) at pretty much any cost.
Remember
That Spanish Cop Who Got Dropkicked? This Crystal Clear Video Is Way More
Intense - (www.businessinsider.com)
Things getting crazy in Spain…
This video of the Spanish protest is by far the most intense one yet.
It's a
reverse angle of the video we posted yesterday of the protesters attacking
a cop. And it's way more intense. Protesters attacking a cop starts
at around 1:20.
Why Europe is looking like a mess (again) - (www.washingtonpost.com) Just a few days ago, Europe’s
long-simmering financial crisis seemed to have reached a resolution, following
demonstrations of resolve by all players involved to deploy whatever means
necessary to heal the deep fissures among the 17 nations using the euro. Never
mind. European stock markets tumbled Wednesday amid unrest on the streets of
Madrid and Athens and new doubts about the path forward for the continent. The
German stock market was down 2 percent, the French market was down
2.8 percent and the Spanish market fell a whopping 3.9 percent.
Chinese slowdown haunts premium carmakers at Paris show - (www.reuters.com) Luxury auto giants BMW, Audi
and Mercedes have been enjoying robust demand in China for almost three years as they
vie to be the world's biggest premium car manufacturer. That could be about to
change. While carmakers will use this week's Paris auto show to display models
such as Audi's updated $146,600 top-of-the-line R8 coupe and Porsche's $126,000
four-wheel drive 911, the fate of the vehicles will be decided thousands of
miles away in China, where premium-car buyers are showing signs of saturation.
Spain's precarious future - (money.cnn.com) The nation, which is doing
everything it can to avoid a bailout, will release its 2013 budget on Thursday.
And Friday brings auditors' results of bank stress tests, which could give
investors a better idea of just how deep Spain's banking troubles run. A bailout
seemed inevitable a few months back, when Spain's borrowing costs were sitting
at unsustainably high levels. But ever since the European Central Bank announced an intervention
plan, those costs have come down sharply. Just two months ago, the 10-year
yield was above 7.6%
Health insurance costs grew slowly for two years. Now, they’re
speeding up. - (www.washingtonpost.com)
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