So, the slide in gold has turned into a rout. As Joe Weisenthal says, this should be seen as really good news, because it offers strong evidence that the goldbug/inflationista view of the world — which says that we need to stop all efforts at monetary and fiscal stimulus lest we turn into Weimar — is, in fact, all wrong. But Joe is, I think, … Seguir leyendo Gold Does Not Glitter – NYTimes.com

It’s nice that China can still surprise us: A double-digit rise in bank lending and a surge in total credit in the economy in the first three months of the year, together with forecast-busting import growth in March, have set analysts thinking the economy is expanding faster than expected and policymakers may have to act to restrain it. (Reuters, yesterday) Every strategist around, it seems, … Seguir leyendo China is having a credit-fuelled non-recovery | FT Alphaville

UK companies reporting annual results for the year to March are expected to report an increase of more than £100bn in their aggregate pension scheme deficits, according to actuarial forecasts. This year’s reporting season is likely to expose larger, not smaller, pension shortfalls than existed a year ago, despite sharp rises in stock and bond markets where retirement schemes have invested their assets. That is … Seguir leyendo UK pension deficits set to rise by £100bn – FT.com

A Few Interesting Data Points It has almost become a matter of routine that we write about new extremes in a number of market data related to gold (specifically sentiment data) and after Friday’s massive shellacking several such extremes have occurred again. Note that not all of these are historic firsts, but two actually are. We present them without any additional interpretation. In a highly … Seguir leyendo Panic on the Gold Titanic |

Gold is now officially in meltdown: This is a developing story so it’s hard to keep the charts updated. The low so far is $1385. As Business Insider’s Joe Weisenthal noted: Time to stop referring to Bitcoin as digital gold, but rather gold as physical Bitcoin. The below chart will update, but only with a 15min delay (apols): via Gold meltdown! | FT Alphaville. Seguir leyendo Gold meltdown! | FT Alphaville

En sus previsiones sobre la economía mundial en 2013, el Fondo Monetario Internacional considera que la zona euro continuará situada en el "epicentro" de la crisis, con un descenso del 2% del PIB. El FMI, que organiza esta semana su reunión de primavera, estima que los Estados Unidos y los países emergentes están saliendo de la crisis, mientras que Europa sigue afectada por importantes obstáculos, … Seguir leyendo Zona euro: “El FMI dispara la alarma por el fracaso europeo ante la crisis” | Presseurop.eu: actualidad europea, viñetas y revistas de prensa

Es un billete de 100 marcos alemanes, con la figura del cartógrafo del siglo XVI Sebastian Münster, el que ocupa la portada de Tageszeitung, al día siguiente del lanzamiento oficial del partido Alternativa para Alemania(AfD). Dirigido por el economista Bernd Lucke, cuenta ya con más de 6.000 miembros, entre los que cuales "numerosos fueron miembros de la Unión [Cristiano-Demócrata y Social-Demócrata] y de los liberales", … Seguir leyendo Alemania: “El adversario al que teme Merkel” | Presseurop.eu: actualidad europea, viñetas y revistas de prensa

Reflexiones de Steve Keen sobre la deuda y los precios de los inmuebles. http://www.businessspectator.com.au/article/2013/4/15/property/house-prices-shoot-towards-ceiling#ixzz2QUFV7fFv Seguir leyendo House prices shoot towards a ceiling | Business Spectator

Keynesians have, over all, had a very good track record in this economic crisis; one indication of just how good is the remarkable extent to which people on the other side have had attack people like me for supposed wrong predictions we never, in fact, made (you endorsed Obama’s economic projections! No, I didn’t). One area where things haven’t worked out as expected, however, is … Seguir leyendo Missing Deflation – Krugman