germany , parliament to have veto powers on rescue plans, makes things more complicated, in comments lagarde praised for her remarks critical of stress tests, was the eu bluffing?bank write down insecurity on portugal,ireland , italy and spain bonds. french banks use mark to model valuations given lack of liquidity 4 bailed out greek bonds, 21% rather than real value 50% write down. confusion reigns, sign of inconsistent regulation, esma criticised. benni berni declares in jackson hole that most economic policies that support robust economic growth in the long run are outside the province of central banks. france and usa rich beg 4 paying more taxes , italy scratches plans on wealthy tax and spain complains they did not receive any request, the same as uk.martin wolf does not say anything new abt crisis ( back from holydas), private demanb problem in the usa and politcal stallmate,while emrging markets drag demand w/ surplus accounts ( see j.plender insight and eswar prasad). Wolf hints 2 central bank action but fed is divided as noted by ft, meanwhile an indian reader reminding how structural problem concentrated on lack of skills in us economy , the very necessary ones and in demand right now, ie open the gates of emigration OF indians it and forget latinos and education for americans? Asian bonds in the current western turmoil faring very well decreasing dependency on foreign currency denominated liabilities that triggered 1997 criris. See Yuan issuance.

Commodity prices hikes , driven by market speculation, K Singleton nobel prize proves it in a paper for air transport, excuse 4 regulation

rusrating, richard hainsworth, oversight banks, russia moscow bank unleashes regulation overhaul, yet again.

lex, hon hai, very good piece on microeconomics and company analysis, declining margins with higher costs paid off by higher sales intially positive for earnings but eventually ushering in2 lower profit and missed targets with new economic downturn and end of product cycle. new investments makeeps growth less visible for investors.

short view , cape cyclically adjusted p/e ratio, bearish comments, stocks 23% overpriced against average since 1881