In The Know

August 17 2011
GUARDIAN – The crisis facing Britain’s education system The gulf between schools educating the well-off and the disadvantaged has never been bigger. And things are only likely to get worse in the coming years. http://www.guardian.co.uk/education/2011/aug/16/crisis-britains-education-system

BLOOMBERG – Asian Stocks Rise for Third Day on Profits Asian stocks rose as companies reported improved earnings and a report showed Australian wages grew at a faster pace, boosting the earnings outlook for the country’s banks and retailers. http://www.bloomberg.com/news/2011-08-17/asia-stocks-fall-as-europe-rejects-bigger-bailout-fund-u-s-housing-slows.html

TELEGRAPH – EMU crisis deepens as slump reaches Europe’s AAA core The German economy slowed drastically over the early summer and may be on the cusp of a double-dip recession, dashing hopes that Europe’s industrial engine would eventually lift EMU’s southern bloc out of slump. http://www.telegraph.co.uk/finance/financialcrisis/8705343/EMU-crisis-deepens-as-slump-reaches-Europes-AAA-core.html

TELEGRAPH – Angela Merkel and Nicolas Sarkozy fail to calm markets despite eurozone concord
Germany and France looked to have failed again to calm feverish financial markets despite unveiling a raft of economic agreements at a summit in Paris.
http://www.telegraph.co.uk/finance/financialcrisis/8705379/Angela-Merkel-and-Nicolas-Sarkozy-fail-to-calm-markets-despite-eurozone-concord.html”

FT – Europe need not wait for Germany Size matters. That is the lesson to draw from Washington’s debt ceiling debate and the downgrade of its sovereign credit rating by Standard & Poor’s, neither of which drove up US bond yields. It is also the lesson to draw from Japan, which combines the world’s lowest bond yields with one of its largest public debt stocks. This lesson has a plain implication for eurozone countries: they should pool their debts – with or without Germany’s participation. The benefits from creating a debt market of a size to rival those of the US and Japan would clearly outweigh the costs. http://www.ft.com/cms/s/0/d64f5702-c768-11e0-9cac-00144feabdc0.html#axzz1VGbZW6hi”

REUTERS – Insight: Will Buffett, Schultz debt plans be shunned? Warren Buffett and Howard Schultz want to change the conversation about how to fix the United States’ economic woes. But their solutions – more taxes on the rich and a boycott on political donations – risk falling on deaf ears among fellow business leaders. http://www.reuters.com/article/2011/08/17/us-buffett-schultz-idUSTRE77G0EW20110817″

WSJ – AGENDA: U.K. Debt Plan Can’t Cover All Its Sins Last week, while parts of London and other English cities blazed in the worst riots for 30 years, the world’s bond markets ignored the fires and broken glass to give the U.K. what looked like yet another vote of huge confidence. Yields on the 10-year gilt fell to record lows, below even equivalent German Bunds. This is in a country where, for a time, it looked as though the civil authorities had lost control of their capital city. Not for long, admittedly, but this is a liberal democracy with supposedly risk-free borrowing credentials. “Not at all, ever” is what we’re aiming for. http://online.wsj.com/article/SB10001424053111903392904576512053083318880.html?mod=googlenews_wsj”

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This entry was posted in Ambrose Evans-Pritchard, Austerity, Banking, Bonds, Daily Telegraph, Debt, Democrats, Euro Zone, Financial Times, France, Germany, Merkel, Republicans, Reuters, Sarkozy, US, Wall Street Journal. Bookmark the permalink.

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