Interesting Inflation News Links (February 23, 2009)

* King’s faded realm (Chris Giles, The Financial Times)

The doormen sport pink tail-coats and top hats. Officials inside tend to start sentences with So. Their boss deploys his fearsome intellect to sometimes brutal effect. The Bank of England is a curious place.

* Carbon allowances set to soar as ‘perfect storm’ hits (Garry White, Telegraph)

The report, written by corporate finance and equity capital markets adviser Tom Frost, of Akur Partners, predicts that the price of carbon could increase to 64 (�57) from the current 8.40 before the end of this trading period, know as Phase II, in 2012. It is expected to be published on Wednesday evening.

* Remember Reagonomics? (Santa Barbara Independent)

In the last year of the Carter administration, the U.S. inflation rate climbed to a peak of 14.8 percent, the top individual tax payer rate was 78 percent, unemployment was 7.4 percent, and federal outlay was 17percent higher than the economy’s growth rate. During this period, the U.S. economy was truly the worst it has ever been since the Great Depression. The nation was in quite a deep hole o…

* “Bank should remain in private hands”: Treasury, regulators (Philadelphia Inquirer)

“Banks should remain in private hands… The major U.S. banking institutions have capital in excess of the amounts required to be considered well capitalized… Any government capital will be in the form of mandatory convertible preferred shares, which would be converted into common equity shares only as needed,” says the Federal Reserve, US Treasury, and bank regulators in .

* Venezuelans count the cost of Stanford (Benedict Mander, The Financial Times)

Large numbers of Venezuelans reluctant to buy into President Hugo Ch�vezs socialist dream opted instead to entrust their savings with Sir Allen Stanford, the Texas billionaire charged with massive and ongoing fraud by the SEC last week.

* Interview Excerpts: Athanasios Orphanides (Wall Street Journal)

Athanasios Orphanides, member of the European Central Bank’s governing council, spoke recently with Wall Street Journal reporter Nina Koeppen. Born in Cyprus and educated at Massachusetts Institute of Technology, Orphanides was on the U.S. Federal Reserve staff from 1990 to 2007, where he also researched the implementation of monetary policy in an environment of very low interest rates. Below, …

* As Starbucks turns, so does the economy (Bradenton Herald)

In the middle of 2006, Starbucks stock price peaked at $39.63 a share. Everywhere you looked, a new Starbucks was opening, an average of six new stores a day. The company had 12,241 shops in the United States, with plans to expand to 40,000 locations worldwide. Citing increased demand from less-affluent customers, chief executive officer Howard Schultz told investors: We dont believe that we…

* Hillary Clinton pleads with China to buy US Treasuries as Japan looks on (Ambrose Evans-Pritchard, Telegraph)

“It’s a safe investment. The United States has a well-deserved financial reputation,” she told Chinese television stations at the end of her diplomatic tour of Asia.

* House Democrats propose $410B spending bill (David Espo-)

WASHINGTON — House Democrats unveiled a $410 billion spending bill on Monday to keep the government running through the end of the fiscal year, setting up the second political struggle over federal funds in less than a month with Republicans.

* House bill to keep govt. running totals $410 billion, features thousands of pet projects (David Espo-)

WASHINGTON – House Democrats unveiled a $410 billion spending bill on Monday to keep the government running through the end of the fiscal year, setting up the second political struggle over federal funds in less than a month with Republicans.

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