—- SpainMissesWatered–DownBudgetDeficitTargetsYetAgain // Mish’s Global EconomicTrendAnalysis When you are about to miss budget targets, the easy thing to do is lower the bar, again and again until you can hit them. Spain did just that, and still missed. Via translation from Libre Mercaado, please consider SpainMissesBudgetDeficitTargetfor 2013. Treasury announced a deficit of 5.44% of GDP in November, but official data elevate that number to 5.96%. … Seguir leyendo Spain Misses Watered-Down Budget Deficit Targets Yet Again

—- ISLANDIA O CÓMO ALCANZAR EL PLENO EMPLEO DESOYENDO A LOS MERCADOS // La Voz Debida A raíz de un interesante artículo que ha aparecido hoy en el diario El País podemos dar un repaso a la situación de las políticas aplicadas por Islandia desde el estallido de la crisis financiera mundial de 2008 en contraste con las políticas de austeridad europeas: La tasa de … Seguir leyendo ISLANDIA O CÓMO ALCANZAR EL PLENO EMPLEO DESOYENDO A LOS MERCADOS

—- WhatJobsWill Robots Take? // nakedcapitalism Yves here. One of the things that is bothersome about the ongoing discussion of robots (or more generally automation) taking jobs is the lack of precision as to how that takes place. And that lack may lead to overestimation. For instance, grocery stores introduced self scanners in the hope of eliminating checkout personnel. They discovered that the scanners made … Seguir leyendo What Jobs Will Robots Take?

—- A ForecastofOurEnergyFuture; WhyCommonSolutionsDon’tWork // OurFiniteWorld In order to understand what solutions to our energy predicament will or won’t work, it is necessary to understand the true nature of our energy predicament. Most solutions fail because analysts assume that the nature of our energy problem is quite different from what it really is. Analysts assume that our problem is a slowly developing long-term problem, when … Seguir leyendo A Forecast of Our Energy Future; Why Common Solutions Don’t Work

—- TheCarnageContinuesIn Asia As China PMIConfirmsContractionDeepening // ZeroHedge Following last week’s Flash PMI print of 49.6, the Final printforJanuary China Manufacturingdroppedfurtherto 49.5 confirming the contraction is deepening. JapanesestocksweredownthemostsinceAugustintheearlygoing as Nikkei futures extended the losses from the US day-session (and rather notably decoupled from USDJPY and breaking below 15,000). The Nikkei is heading for the worstmonthsinceMay 2012 (-8.66% so far). S&P futures tracked USDJPY as 102.00 … Seguir leyendo The Carnage Continues In Asia As China PMI Confirms Contraction Deepening

—- FedToEmergingMarkets: "Hasta La Vista, Baby" // ZeroHedge JustoutfromCiti’sStevenEnglander FedleavesEMtotwistinwind From the viewpoint of domestic US economic conditions the Statement is completely anodyne. From the point of view of EM, the Fed has just said “hasta la vista, baby”. The comment on US growth was a not surprising upgrade in the growth assessment – economic activity ‘picked up’ rather than ‘is expanding at a moderate … Seguir leyendo Fed To Emerging Markets: “Hasta La Vista, Baby”

—- NextEmergingMarketShock Comes FromSouthAfricaWhichUnexpectedlyHikesBy 50 bps // ZeroHedge First it was Turkey defending itself tooth and nail against Bernanke’s tapering, now it is South Africa, just as we predicted less than anhourago. SOUTH AFRICA RAISES BENCHMARK RATE TO 5.50% FROM 5.00%; EXPECTATION WAS FOR UNCHANGEDSOUTH AFRICA CENTRAL BANK RAISES BENCHMARK RATERAND STRENGTHENS AS CENTRAL BANK UNEXPECTEDLY RAISES REPO RATES. AFRICA’S MARCUS SAYS MOVE NOT INTENDED … Seguir leyendo Next Emerging Market Shock Comes From South Africa Which Unexpectedly Hikes By 50 bps

—- RussiaRubleCollapseEscalatesToRecordLow // ZeroHedge With all eyes on Russia over the next month as the Sochi Winter Olympics ramps up, we are sure having the market’s attention on a collapsing currency is not what Putin had in mind before he dropped $50 billion to make it snow. While the Ruble remains just above record lows against the USD, Bloomberg reports that it has dropped to … Seguir leyendo Russia Ruble Collapse Escalates To Record Low

—- ShockAndOuch: Turkish Central BankInterventionNowFullyFaded As Lira CollapseReturns // ZeroHedge Update: full meltdown mode now: Yesterday, themomentwhentheTurkish Central Bankinterventionwas jinxed was clearly marked by SocGen’s fawning Benoit Anne, who said "In any case, I definitely feel much better about the TRY, at least on a tactical basis. Hence we just entered a long TRY/ZAR targeting a tactical move to 5.10. TheTRY crisis isover." To which … Seguir leyendo Shock And Ouch: Turkish Central Bank Intervention Now Fully Faded As Lira Collapse Returns

—- Venezuela DevaluesBolivarByAnother 44% ForSome, Still 600% HigherThanBlackMarketDueTo 50% Inflation // ZeroHedge Less than a year ago, Venezuela shocked the world when it launchedthe "firstnuke" in the ongoing currency wars (which despite having dropped off the front pages, have certainly not ended), by devaluing its currency, the Bolivar from 4.30 to the USD to 6.30, in the process crushing the profits of many companies that … Seguir leyendo Venezuela Devalues Bolivar By Another 44% For Some, Still 600% Higher Than Black Market Due To 50% Inflation