What was a fringe idea for circumventing the debt ceiling just a few weeks ago has taken the financial media by storm, and the trillion-dollar platinum coin was undoubtedly the story of the week. With the debt ceiling and sequestration still weeks away, we remain in the middle of the “posture and bluster” phase of what will undoubtedly be yet another display of down-to-the-wire Washington “compromise.” With other plans now popping up – including “Print the IOU” – alongside old favorites like invoking the 14th amendment or prioritization, rest assured you’ll be hearing a lot more about the debt ceiling in the coming weeks. But before get into all that, here’s what we’re reading headed into the weekend:
- This week saw the second largest weekly inflow into equity mutual funds and ETFs (Business Insider)
- And – is the equity rebound our first sign of the “Great Rotation?” (Economist)
- Abe speaks, and the Yen just keeps falling (Futures Magazine)
- Putting inflation and hyperinflation in perspective (The Big Picture)
- California with a budget surplus? Are we sure the world didn’t end last month? (LA Times)
- Australia: where it’s so hot, they need extra colors on their temperature maps (Guardian)
And just for fun…
Living inside a zombie doesn’t mean you can’t stay clean (National Geographic)