Daily Digest 8/29 - Mauldin On Deficits, Russia Seeks New Sea Routes, Wheat Exports To China Triple

• Heal Job Market By Cultural Renewal, Not Fed Intervention
• Mauldin: The Dark Side of Deficits
• Mr Cable, shout it loud and proud from Brazil
• Russia seeks new sea routes to Asia
• EU's Barroso warns Italy on high debt
• China economy faces complicated domestic, international conditions: official
• Mexicana Airlines halts flights worldwide
• Wheat exports to China triple in deregulated market
• RVR secures new railway concession deal in Uganda

The 3-disc Crash Course features a handy presenter’s pack for guiding group showings (NTSC or PAL)

Economy

Heal Job Market By Cultural Renewal, Not Fed Intervention (Dr. B @ Truthsavvy)

Taxpayers should not be sanguine about Fed interventions, especially the creation of money to pay for government mistakes, since this so-called "quantitative easing" amounts to stealth taxation, the tax levied against wage increases that could (and should) accompany national gains in productivity and business efficiency. This taxation increases damage to the dollar, widens the U.S. trade deficit, produces consumer inflation, and hastens any pending sovereign debt crisis.

Mauldin: The Dark Side of Deficits (JRB)

In the pre-crisis days, I used to write about things like P/E ratios, secular bull and bear markets, valuations, and all of the things we used to think about in the Old Normal. But what about those topics as we begin our trip through the New Normal? It’s time to reconvene class and think through what might change and what will remain the same.

Mr Cable, shout it loud and proud from Brazil (pinecarr)

The Business Secretary is travelling to Brazil tomorrow for a week of meeting business leaders and politicians to press the flesh and build relationships with the most important economic powerhouse in South America.

It is instructive to list who is travelling with him: Anglo American, Diageo, BAE, HSBC, Rio Tinto, BG Group, Standard Chartered, Rolls-Royce, GlaxoSmithKline and the infrastructure company Halcrow (which is advising on the high-speed rail link between Rio de Janeiro and São Paulo) are all part of the delegation. Each will be looking to forge deals and make important business allies.

The 3-disc Crash Course features a handy presenter’s pack for guiding group showings (NTSC or PAL)

Russia seeks new sea routes to Asia (pinecarr)

Russia's biggest private gas producer, Novatek, is acting as a pathfinder, as it wants to open up a direct route to export its liquefied natural gas to Asia. The arrival of the tanker Baltika, with 70,000 tonnes of gas condensate aboard, in the Eastern Russian port of Pevek signified a new milestone in that ambition.”

EU's Barroso warns Italy on high debt (pinecarr)

Italy's public debt is the highest in Europe, amounting to 116 percent of the country's gross domestic product (GDP).

China economy faces complicated domestic, international conditions: official (pinecarr)

Other challenges include the heavy pressures in reaching the target of improving energy efficiency (the ratio of energy consumption to gross domestic product) by 20 percent from 2005 to 2010 and in managing inflationary pressure, he said.

Mexicana Airlines halts flights worldwide (pinecarr)

With an uncertain future, Mexico's biggest airline and the biggest foreign carrier at Los Angeles International Airport (LAX) ceased operations worldwide as of Saturday morning.

All flights were expected to have been halted by 10 a.m., and stranded travelers were urged to go to the airline's website for instructions on getting refunds, LAX officials said.

Wheat exports to China triple in deregulated market (pinecarr)

Australian wheat exports to China have already tripled this year, and demand from the world's most populous nation is expected to lift.

RVR secures new railway concession deal in Uganda (pinecarr)

A revised concession contract for the Kenya/Uganda railway was signed on Wednesday in Kampala, giving Rift Valley Railway Investments access to rail lines leading to the Ugandan oil fields.

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