China
Britain warns China against protectionism – Telegraph
FT.com – China calls currency pressure ‘protectionism’
Chinese Premier Warns of ‘Double Dip’ Recession – WSJ.com
Paul Krugman – Taking On China and Its Currency – NYTimes.com
The more America huffs about the yuan, the less China will do about it – Telegraph
Is China’s Politburo spoiling for [...]

Well, I for one can’t help thinking that it’s now well time we all stopped getting carried away with the use of so many acronyms. Not only may one man’s meat easily prove to be another’s poison, it may even be that for some the entire meal will be so distasteful as to prove totally [...]

Michael Lewis is out with a new book “The Big Short: Inside the Doomsday Machine” which discusses how the big hitters on Wall Street destroyed $1.75 trillion of capital. His phrase ‘Doomsday Machine’ is reminiscent of former IMF chief economist Simon Johnson’s ‘Doom Loop’ phraseology which I reviewed two weeks ago.
Below, Lewis discusses his take [...]

Highlights
The US dollar is firmer against most currencies. The euro failed to extend Friday’s break up out of the $1.3436-$1.3788 range in which it has been trading since Mar 17th while against the Swiss franc, the euro is trading at its lowest level in 17 months.  The single currency is consolidating above $1.3685 support area [...]

The video below from the Wall Street Journal gets at the heart of why the bailouts have been so toxic for the economy. Banks, still laden with existing bad loans to small businesses, are unwilling to make new ones. Businesses, unable to receive credit, cannot expand or must downsize. This in turn puts a squeeze [...]

This past week’s posts marked a turn for me on a few levels. It is apparent that most market reform efforts are mere tweaks of the existing system. I am being to conclude that no meaningful financial reform can occur absent an absolute collapse in the global economy and the financial system. This is quite [...]

Tea Party Avoids Divisive Social Issues – NYTimes.com
What’s Happening to China’s Migrant Workers? A New Generation Coming and Going – The China Sourcing Blog
States may hold onto tax refunds for months – USATODAY.com
Fed Helped Bank Raise Cash Quickly – NYTimes.com
U.S., Europe at odds over global financial reform – washingtonpost.com
China May [...]

The February US retail sales data was much stronger than expected, even when taking into account the downward revisions in January.  A picture of a broadening of the recovery is emerging.   Looking at the Jan-Fed period combined, the headline rate rose a combined 0.4% and the market had expected a 0.3% increase, but the real [...]

Obama to tap Yellen for Fed vice chair:source| Reuters
BBC News – Rove ‘proud’ of US waterboarding terror suspects
Walmart vende la Barbie negra a mitad de precio que la blanca ¿discriminación? – elConfidencial.com
Examiner sees gimmicks in Lehman demise| Reuters
FDIC: Failed Bank Information – Bank Closing Information for LibertyPointe Bank, New York, NY
Americans’ [...]

Highlights
The US dollar is lower against most currencies with the European currencies leading.  Talk of an EU rescue package for Greece on the order of 55 bln euros has contributed to the moves helping to trigger stops.  The euro briefly broke up out of the $1.3436-$1.3788 range in which the currency has been trading since [...]