February 22 links: Greek hangover

Markets:

Greece 2 Year 5 Year 10 Year
Portugal 2 Year 5 Year 10 Year
Ireland 2 Year 5 Year 10 Year
Spain 2 Year 5 Year 10 Year
Italy 2 Year 5 Year 10 Year
Belgium 2 Year 5 Year 10 Year
France 2 Year 5 Year 10 Year
Germany 2 Year 5 Year 10 Year

United States

Europe
China

Local:

  • Will S&P fight to the death? SMH
  • Colebatch bashes Parko. The Age Why is he buried?
  • Rio selling on spot market. AFR
  • Ore to be at $140. SMH You hope…
  • Ignore oil at your peril. AFR

Comments

  1. Tim Colebatch in The Age

    As Liberal senator Arthur Sinodinos and Labor’s Doug Cameron emphasised to Parkinson, the ”structural adjustment” that costs them their jobs has to generate new jobs where they live, not on the other side of the continent

    Read more: http://www.theage.com.au/opinion/political-news/mining-states-bake-while-the-rest-shiver-20120221-1tlmu.html#ixzz1n37XccON

    Colebatch, Sinodinos and cameron don’t get it.
    To re-orient the economy towards production and away from debt based industries involves dislocation.

    The society and Govts of all colours have torn the economic and social heart out of inland and Northern Australia with blind narcissistic popularism. There could have already been sizeable towns and cities in the inland around which could be built the new industries associated with mining around.

    Keating in particular made the decision that everyone would live on the coast in large expensive cities rather than have a geographically diversified population.

    The only solution is to fix (or semi-fix as per something like Jack’s idea) the dollar, smash the Carry trade, raise interest rates, slow (at least) Foreign takeover of everything,put a dagger through the heart of the housing/finance beast and keep twisting it there for a long time to really kill it, remove the FBT tax on improvements mining companies make in regional areas, smash the overbloated production inhibiting part of the Govt sector, then let’s get on with it! (I’d love to find a way of getting a jagged edged blade into the heart of corrupt organisations and institutions such as the LAW but I haven’t worked out how to do it effectively! Unless I’m dictator)
    We will need to support people. We will need to share the pain around. That sharing should not be achieved through the destruction of private property rights as is the current trend. That road is a disaster and leads to extremism….sorry…it IS extremism totally lacking morality!!

    • Noticed one of the talks was titled “China Steel Industry – When will we see the peak?”. If the usual suspects here were conference organizers that talk would have been replaced with “China, aaargh, look out, …”

      • some sessions. alas guest posts not possible. attended a number of sessions at d&d last year and probably could have provided an insight or two but I understand at the time HnH provided coverage – mine may have been from an MB undesirable perspective!!