Morning Links – Friday June 15th

Here is some things Reynard found interesting today.

Global Macro:

• This is my read of the day on the Fear Trade and dodgy bullets – Dynamic Hedge
• The BP 2012 Statistical Review seems to be a Treasure trove for the energy aficianados – here is a piece from Business Insider saying the world is becoming MORE reliant on coal
• Peak oil anyone? More from BP via Business Insider – CNBC says oil could fall to $50 here
• Markets getting hot for Co-ordinated Central Bank action – Reuters broke the story and here’s the WSJ take.

United States:

• I strongly believe that the GFC is unwinding some of the great strides in equality of income and society that the Industrial Revolution kicked off a few hundred years ago. Here is Bloomberg saying inequality is worse than thought in the US
• Americans see big home equity jump – Bloomberg. Slowly healing
• Rail Traffic in the US rising modestly – Prag Cap
• Pimco’s Kashkari says QE3 is coming – Bloomberg
• Stanford gets 110 years – FT. Can I refer you to the story below and just ask again WHY?

Europe:

• I wonder why the companies that helped Greece hide its true budget position are even allowed to continue to do business, they should have been fined out of existence for mine. But the ECB says the details can’t be released as they would “inflame” markets – Bloomberg
• Central Bankers brace for Euro break up – FT
• Spain issues dramatic message of doom – The Guardian
• Yeah we know but The Economist on Spain’s insufficient bailout
• Reuters on Spain’s uphill battle to avoid a Sovereign bailout
• Merkel on the Herculean task of integration – Reuters. SHe is just working on a different time frame to markets

Asia:

• Europe’s contagion into China – Prag Cap
• China prefers rate cuts to stimulus – Reuters

Local:

• Elizabeth Knight on Gina Rinehart – SMH
• Germans late to the Aussie Bond Buying Party – The OZ. The Oz late on this angle – HnH covered it yesterday here

Interesting/Other stuff:

• Kogan puts a “tax” on users of IE7 – BBC