Links 7 February 2012

Here’s a list of things Reynard read over night.

Global Macro/Markets:

  • Fed’s Financial Stress Index falls to pre-recession 2007 level –
  • Time to Revive the Financial Transaction Tax – New York Times

North America:


  • Government plans to liquidate Anglo in bid to cut debt – The Irish Times
  • Italian polls suggest Berlusconi just 4% behind Bersani – The Big Picture
  • RBS fined £87.5 million for significant failings in relation to LIBOR –
  • The RBS Libor fixing files – FT Alphaville (here and here)
  • Parties in Poland Battle Over Whether to Introduce Euro – Der Spiegel
  • EU plans lost generation fund to fight youth unemployment – Reuters


  • A gesture, at least, towards Chinese redistribution and rebalancing – FT Alphaville
  • China flags peak in coal usage – The SMH (discussed yesterday on MB)
  • But Aussies have their doubts – The Age
  • China’s challenges, explained in three easy charts – FT Alphaville
  • Will China’s demographic shift force a fall in investment share? – FT Alphaville




  1. Coal may become ‘extinct’ much earlier than we might have previously thought!

    Princeling Jiang Mianheng, son of former leader Jiang Zemin, is spearheading a project for China’s National Academy of Sciences with a start-up budget of $350m.

    He has already recruited 140 PhD scientists, working full-time on thorium power at the Shanghai Institute of Nuclear and Applied Physics. He will have 750 staff by 2015.

    Would that some of our resources had been directed towards Thorium research many years ago. It’s not exactly new! Thorium, and its potential, came to my attention some 15 years ago. Surely there must have been some knowledgeable people in Australia thinking about it. What happened?

    How much of the Carbon Tax is being directed towards Thorium research? $350M to start things rollicking along is peanuts compared to what we waste.

    • Thorium has a host of problems. because thorium is not a fissile material, you actually need either plutonium or enriched uranium to start a thorium reactor, so proliferation problems are there. It doesn’t solve the proliferation problem. It doesn’t solve the waste problem, either.

      I have a favorite molten salt reactor. My reactor is free. It’s in the sky, 93 million miles away. You can store its energy in molten salt. It is being done today. You can generate electricity for 24 hours a day.

      Read Carbon-Free and Nuclear-Free: A Roadmap for U.S. Energy Policy

    • Too many idealistic greenies and NIMBYs in this country for nuclear to get much traction without a serious, serious calamity.

    • thomickersMEMBER

      haha they can spin all they want. The average fund manager already knows they’re doing bad.

      shares down 2.29% on a bullish day!