Daily Reading on the Financial Markets: 7/29/12
From Bloomberg: today’s big headline of EU relief plans.
Zero Hedge makes the case that there simply isn’t enough funding available to do a Spanish & Italian bailout until further funding is printed.
Matt Taibbi of Rolling Stone on the still developing LIBOR scandal; the more despotic uncle of the Muni bid-rigging scandal.
Yves Smith of Naked Capitalism on the mushrooming losses on JPM’s “whale” trade.
Charles Hugh Smith at Of Two Minds on the failure of pay to keep up with expenses, and the dying middle class.
ChartLearning makes his case that the Bulls remain in charge, and this dip is buy-worthy.
Chris Kimble suggests risk assets could benefit from U.S. Dollar weakness, as it continues to face stiff resistance.
Doug Casey has been exceedingly bearish, and in this interview on Testosterone Pit, he remains so.
Cullen Roche at PragCap is a big fan of railway traffic as an indicator of economic well-being, and he notes that rail traffic is holding up just fine for now.