新互動平台:

http://www.thebackstreetjournal.com/

後巷電台:

http://www.openradiohk.com/prog.php?id=77 

From FT Alphaville,

Why take two price scenarios into the shower, when you can just take one?

Introducing “compartflation” an economic environment in which both inflationary and deflationary forces compete to generate recession or stagnation. 

OMG.  This is HUGE.

From AsiaNews (and reported later by Bloomberg),

Milan (AsiaNews) –  Italy’s financial police (Guardia italiana di Finanza) has seized US bonds worth US 134.5 billion from two Japanese nationals at Chiasso (40 km from Milan) on the border between Italy and Switzerland. They include 249 US Federal Reserve bonds worth US$ 500 million each, plus ten Kennedy bonds and other US government securities worth a billion dollar each.

Soros could not have said it better:

"It's like buying life insurance on someone else's life and owning a license to kill," he concluded."

Articles and more explaination can be found here from Reuters.  

From Wall Street Journal,

“Merchandise exports in May fell 26.4% from a year earlier, China’s Customs agency said Thursday, accelerating from April’s 22.6% decline as global demand remained weak. China’s imports also extended their fall, dropping 25.2% in May from a year earlier after shrinking 23% in April.”

So the raw material isn't yet pouring into China as we might have suspected, at least the data say so.  

NYT articles here, and another blog post on the same subjects with more graphs can be seen here. 

Seems like all the mainstream media missed this interesting incident.

Quote from The Telegraph, 

In his first official visit to China since becoming Treasury Secretary, Mr Geithner told politicians and academics in Beijing that he still supports a strong US dollar, and insisted that the trillions of dollars of Chinese investments would not be unduly damaged by the economic crisis. Speaking at Peking University, Mr Geithner said: "Chinese assets are very safe."

The comment provoked loud laughter from the audience of students.

Just a hint of discussion. Nothing is certain yet. But I wouldn't put any bets on it not happening during the Obama administration.

 Full article is here.

This is interesting.  Mortgage lenders across the country cannot lock in a rate for homebuyers.  Some lenders are posting as high as 8%.  Another case of "what goes up must come down".  I don't even dire to think aboout the consequences...

Full article is here. 

Come across something interesting on fiat currency.   

The original article, as mentioned from "Clusterstock", argues about the slim possibility of Renminbi becoming the currency to replace the US Dollar.  Basically this won't going to happen as it is still under the heavily control of the Chinese government.