Linkfest: Depressions, Gold/S&P Correlation, Euro Endgame

Img: onohoku (flickr)
New math: Gold + S&Ps = Death: "There has been much talk about the high correlation of markets. Well, markets that correlate together die together." (PeterBrandt)

Gold on Pace to End Longest Streak Above 200-DMA...Ever (Bespoke Investment Group)

Interesting overnight action around 1,200 in the S&P futures (HedgeAccordingly 1, 2)

The Book of Jobs by Joe Stiglitz: "The U.S. is now facing and must manage a similar shift in the “real” economy, from industry to service, or risk a tragic replay of 80 years ago." "A banking system is supposed to serve society, not the other way around." (VanityFair)

Elliott Wave's Robert Prechter on the bear market rally in equities, today's similarities to the late stages of the 1930s great depression, and why he's bullish on Treasury bonds (deflation) (CNBC video)

Niall Ferguson: Great Britain Saves Itself by Rejecting the EU (Newsweek/The Daily Beast)

UK's unemployment at highest level in 17 years (AP)

Kyle Bass (Hayman Capital) on restructuring the eurozone's debt, and the possibility of an EMU breakup (CNBC video)

Felix Zulauf: European Depression Will Lead To A Collapse Of The Euro (Pragmatic Capitalism)

ECB's Noyer says French downgrade "not justified" (Reuters)

House Republicans Push Toward Vote on $1 Trillion Spending Bill (BusinessWeek)

Citi Near Term Stock Forecast: 9300 In The DJIA; 985 In The S&P; Sees Chart Analogs To Pre-World War Periods (Zero Hedge)

DoubleLine Capital's December Presentation “To Have and Have Not,” by CEO Jeff Gundlach (slides at Business Insider)

Europe needs a firewall to stabilise markets by John Paulson of Paulson & Co. (Financial Times)

Paulson’s Bright Spot May Fade as Gold Plunges (Bloomberg)

SAC's Cohen Calls Insider-Trading Rules 'Vague' (FinAlternatives)

GM May Increase China Production After Tariffs, JPMorgan Says (BusinessWeek)

China Imposes New Tariffs on U.S. Vehicles (New York Times)

Germany Preparing Plans For Commerzbank Bail Out (Zero Hedge)

HSBC Preliminary China PMI Rises In December, But Still Contractionary: "*HSBC preliminary PMI for December edged up to 49.0 from November's final reading of 47.7; December's rise reflects the authorities' easing measures, HSBC says; HSBC sees downside risk from slowing exports (WSJ)

Japan buys 260 mln euros of EFSF bonds-source (Reuters, 12/13)

Japan Manufacturing Slides on Europe Crisis (Bloomberg)

And some depressing articles at MarketWatch...

Paul Ferrell: Our decade from hell will get worse in 2012: Market crash, political gridlock, revolution, new class wars (MarketWatch)

Matthew Lynn: This slump won’t end until 2031: Our predicament parallels Long Depression of 1870s (MarketWatch)

Related posts