Daily Reading – Monday, August 1, 2011
Bloomberg: Debt-Limit Deal to Get Congress Vote Today
Congressional leaders, leaving no extra time before a default threatened for tomorrow, are racing to push through a compromise sealed with President Barack Obama last night to raise the U.S. debt limit by at least $2.1 trillion and slash government spending by $2.4 trillion or more.
JESSE’S CAFÉ AMÉRICAIN: US Debt Limit and Debt Versus Gold in US Dollars
Let’s see, when might we expect the price of gold in dollars to stop going higher?
Reuters: Country Sovereign Ratings
Reuters: Goldman’s new money machine: warehouses
In a rundown patch of Detroit, enclosed by a cyclone fence and barbed wire, stands an unremarkable warehouse that investment bank Goldman Sachs has transformed into a money-making machine.
FT Alphaville: What price UK QE2?
File under faltering economic recovery.
FT Alphaville: Do not underestimate rising EM inflation risk
But, while many are looking for signs of a sharp slowdown, BarCap analysts are leaning towards inflationary risks, in the short-term…