Sunday, October 17, 2010

Quick Overview

  • Elwyn Taylor on Twitter: Omen? La Niña development to date is most like 1973, the next year (1974) was not good for US corn.

  • Typhoon Megi gathered strength as it barreled towards the northern Philippines on Monday, with authorities evacuating thousands of villagers to safer ground hours before it was to hit land. State weather forecasters said Megi has developed into a super typhoon and was expected to slam into the extreme northern Philippines by Monday and then cut westwards towards the South China Sea.

  • (WSJ) Zambian locals rioted and blocked a road leading to Chinese-owned Collum Coal Mine Ltd. on Saturday to protest the shooting of at least 11 miners, allegedly by Chinese supervisors during a protest over low wages, police officials said Sunday.

  • (Bloomberg) -- The Bank of England will increase its emergency bond-purchase plan by 100 billion pounds ($160 billion) to aid the economy as the government cuts spending, the Centre for Economics and Business Research said.

  • (Bloomberg) -- China’s medium and heavy rare earths reserves may last 15 years to 20 years at the current rate of production

  • (FT) Charles Evans, president of the Chicago Fed, said that “in my opinion, much more policy accommodation is appropriate today” because “the US economy is best described as being in a bona fide liquidity trap”, a point where ultra-low interest rates and high savings rates conspire to make monetary policy ineffective.

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