GreekIslandOfSantoriniIsWithoutElectricity http://feedly.com/k/17n9o2B The Greekovery (where a -4.6% GDP collapse is seen as positive) may be televized, but sadly it will not be electrified. FromAFP: The Greek island of Santorini, one of the country’s premier travel destinations, was hit with a sweeping power shortage on Tuesday after a fire at the island’s main electricity plant, officials said. "Theislandiswithoutelectricity," said a source at the Public Power Corporation, … Seguir leyendo Greek Island Of Santorini Is Without Electricity

PicturingTheDis-UnitedStatesOfEurope http://feedly.com/k/17n9dnZ With calls for a European renaissance and a general belief in stability through the German elections, it is perhaps worth a reminder of the structural problems that the supposedly bottoming union is facing. Nowhere is that single monetary policy-facing dilemma more evident than in the massiveeconomicgrowthdivergencesacrosstheEUnationsandthecurrenthuge gap inunemploymentrates from Greece to Austria and beyond. It seems the world is waiting for Merkel’s re-election … Seguir leyendo Picturing The Dis-United States Of Europe

China’s $1 TrillionGDPLie http://feedly.com/k/17n96Zn From goal-seeked GDP, manipulated inflation, liquidity-flow-exaggerated trade data, and hidden (and divergent) PMI details, thequestionoftheunreliabilityofChinese data isnot a new one. However, anecdotes aside, a new study from Peking University finds, conservatively, correcting for housing price inflation in the Chinese CPI data adds approximately 1% to annual consumer price inflation in China, reducing real GDPby 8-12% or more than $1 trillion. HowBadlyFlawedIsChineseEconomic … Seguir leyendo China’s $1 Trillion GDP Lie

ThatFriedrichvonHayekWasNotConsistentorCoherentDoesNotRedoundtoHisBenefit: Daniel KuehnSmacksDownLarryWhite http://feedly.com/k/18s1Ht2 I have always thought that stable MV is, while not as bad as liquidationism, also a batshit-insane macroeconomic doctrine: it calls for the overall price level to fall at a rate equal to the sum of population and productivity growth. In the real world we live in, why would anybody want that? Daniel Kuehn: Facts & otherstubbornthings: Hayeksaidliquidationistthingsand he saidstable nominal … Seguir leyendo That Friedrich von Hayek Was Not Consistent or Coherent Does Not Redound to His Benefit: Daniel Kuehn Smacks Down Larry White

Investorseuphoric as USmargindebtreaches ‘danger’ levels http://feedly.com/k/1d4kYnL Fund managers are around the world are gripped by euphoria, convinced that America is in full recovery and Europe has overcome its debt crisis. shared via http://feedly.com Seguir leyendo Investors euphoric as US margin debt reaches ‘danger’ levels

SynthesisLost – NYTimes.com http://feedly.com/k/19eAWt4 shared via http://feedly.com Seguir leyendo Synthesis Lost – NYTimes.com

Espléndido artículo sobre el peak oil ThreeNailsintheCoffinofPeakOil http://feedly.com/k/15yrpYM This post is based on a talk I gave as an "undistinguished speaker" to the American Association of Petroleum Geologists (AAPG) oil finders lunch in Aberdeen a few weeks ago. This will be one of my last posts on The Oil Drum. There should be enough controversy below the fold to keep a hoard of Oil Drummers … Seguir leyendo Three Nails in the Coffin of Peak Oil