Morning Links – Monday June 11th

Here is some stuff Reynard the Fox found interesting today.

Global Macro:

• Steve Keen on why 2012 is shaping up badly – Its about debt of course as we are oft to note here at MacroBusiness. – Chris Martenson.com Via Zero Hedge
• Chinese Data gives markets an excuse to surge – WSJ
• Start the Engines Angela – The Economist One of their better cover designs.

United States:

• I missed this last week but here is a video of my favourite, and the best, economist on the planet Gary Shilling on the US Housing market and economic outlook – The Big Picture
• Big US Banks bracing for downgrades – WSJ
• US Companies are suffering from the global downturn – Reuters

Europe:

• The Spanish PM gives himself a big wrap for the bailout – El Pais. He then scores an own goal by annoucing that he is off to watch the football at Euro 2012 now that the issues are “resolved” – European politicians are an interesting species.
• The EU has agreed to lend Spain up to Euro 100 billion to bailout its banks – Reuters, Bloomberg
• Spanish bank creditors just lost their first ranking position to the official bailout funds. – Bloomberg
• Finland wants collateral for its part in Spanish bailout – Bloomberg
• Europe should not sub-c0ntract its Democracies to the Bundesbank – Ambrose Evans-Pritchard in The Telegraph
• But Deutsche-Welle is upbeat on the implications of the deal – here
• Italian Central Bank Governor says the outlook is “daunting” – Reuters
• Ireland apparently is seeking to renegotiate terms – ZeroHedge
• But Portugal hangs tough – Reuters

Some skepticism on the spanish bailouts impacts:

• Goldman Sachs says its not enough – Zero Hedge
• Business Insider adds its voice – Here
• Questions persist – FT
• German Opposition threatens to scuttle the bailout – ZeroHedge
• No Bail in Spain – FTAlphaville

Asia:

• Chinese trade data signals domestic focus – Bloomberg
• More Stimulus pressure for China, inflation – Bloomberg
• China, beyond the rate cuts – Forbes

Local:

• David Uren in the Oz on the impact of falling commodity prices
• Glenn Stevens Speech the other day was a Benchmark Speech for all Australians to understand – on this holiday Monday if you haven’t read it it is worth setting aside the time – RBA

Interesting/Other stuff:

• Estonian President takes the ball up to Krugman over Twitter – Reuters
• Fibonacci Pigeons, Brilliant – Reddit

Have a good one and Go Pies!