The Weekend Read: It’s Moving Day for the Administration

No President since Franklin Roosevelt has won re-election with unemployment higher than 7.2%, and Obama’s own economists in February predicted 8.6% unemployment in 2012. That number may yet be revised upward in light of recent economic headwinds, including the Japanese earthquake, gasoline prices approaching $4 a gallon and continued economic troubles in Europe. “We could use a break,” admits one Administration official.   – Time

Bonds
Bond Risk Highest Since Eisenhower as U.S. Pushes Longer Issues – Bloomberg

China
Are Speculators Behind China’s Art Boom? – CNBC
China’s coming collapse – FinanceAsia
China’s factories face big, labor-driven changes – MarketWatch
China May trade gap smaller than expected – Reuters
China official warns on weak dollar and excessive dollar holdings – Reuters

Commodities
Diverse Supply of Rare Earths Needed by U.S., Sandalow Says – Bloomberg
In Hyperinflation’s Aftermath, How Germany Went Back to Gold – Forbes
Natural Gas Entering ‘Golden Age’  – WSJ
OPEC Warns of Supply Gap – WSJ
Traders flummoxed by natural gas ‘flash crash’ – FT
Who is afraid of commodity cartels? – FT

Currencies
How to Kill a Dollar – Barry Eichengreen

Economics
Comparing 2011 with 1937 – John Taylor
The world economy survives crisis after crisis – FT
There’s No Stimulant In Stimulus – IBD
Why Washington Has No Plans to Ride to the Economic Rescue – Time

Emerging Markets
‘Monstrous Risks’ in Emerging Markets: Bernstein – CNBC
Peru’s President-Elect: Want To Use Brazil As An Example – WSJ
Why Peru’s New President Worries Investors – Bloomberg

Europe
EU sovereign debt: Not an easy bailout – New Europe
Greece at the brink as politics takes centre stage – Globe and Mail
Greek Austerity Numbers Don’t Add Up: Analyst – CNBC
Investor Jim Grant Says ECB ‘Factually Insolvent’ – WSJ
The global fallout of a eurozone collapse – Ken Rogoff
Why Greek Mountain Is No Uruguay Bump – WSJ

General
Ms. Lagarde’s Poisoned Chalice – The American
What Makes Christine Lagarde The Front Runner? – II

Geopolitical
Flood of Syrian refugees heads for Turkey – FT
Iranian Submarines in the Red Sea – Stratfor

Housing
Three big banks fail in foreclosure relief program – LA Times

Markets
Big Funds See Red in China – WSJ
Five down weeks stir crash whispers – MarketWatch
Hong Kong Stocks Drop to 12-Week Low on Global Recovery Concern – Bloomberg
Stock Market At Important Testing Phase – Index Universe
US equity outflows largest in 10 months – FT

Monetary/Fiscal Policy
Fed Begins Tri-Party Reverse Repos With Money Market Funds – Bloomberg
Fed Expands Capital Reviews to 35 Biggest Banks – Bloomberg
Money Magic – Raghuram Rajan

Technology
Cloud threatens to end PC’s reign – FT
GE Combines Natural Gas, Wind, and Solar – TR
Mediterranean Solar Goes Large – TR
New Way to Make Lighter, Stronger Steel – Science Daily

Video:  Spectacular video of lightning inside Chile Puyehue volcano ash cloud

(click here if video is not observable)

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