Good morning. How low can we go??? French PMI firmly in recession territory

(source: http://www.businessinsider.com/september-france-manufacturing-pmi-2012-10)

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But it is not all bad news!

?????????????????? http://www.zerohedge.com/news/2012-10-01/overnight-sentiment-improves-record-eurozone-unemployment-14th-consecutive-pmi-contr

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It is quasi-official: Spain is willing to request help!

?????????????????? http://www.reuters.com/article/2012/10/01/us-spain-bailout-idUSBRE8901AB20121001

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And on a totally non-related Spanish subject: the longer term growth picture of the Spanish economy

?????????????????? http://www.zerohedge.com/news/2012-10-01/presenting-spains-economic-collapse-context

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Interesting chart showing what the Fed is expecting of unemployment in the years to come. They appear quite certain that it is going to decline???

?????????????????? http://soberlook.com/2012/10/feds-expansionary-policy-is-not-going.html

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Fiscal cliff looked at in another way: is it progressive or not?

?????????????????? http://www.washingtonpost.com/blogs/ezra-klein/wp/2012/10/01/the-fiscal-cliff-is-progressive

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???Japan???s Coming Political Earthquake??? Should be worth a read???

?????????????????? http://www.project-syndicate.org/commentary/noda-abe-ldp-dpj-hashimoto-by-masahiro-matsumura

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An indication (although not a very strong one) that stocks are ignoring the real world of earnings

?????????????????? http://www.businessinsider.com/chart-of-the-day-earnings-guidance-ratio-2012-10

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High frequency traders are not as helpful as they claim to be

?????????????????? http://www.ft.com/intl/cms/s/0/2b1723c4-0704-11e2-92b5-00144feabdc0.html

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First we had the Fed-study of Howard, Martin and Wilson (first bullet) questioning the Reinhart/Rogoff slow recovery claim and now Bordo and Haubrich join the discussion (via @dutchstrategist)

?????????????????? http://www.federalreserve.gov/pubs/ifdp/2011/1037/ifdp1037.pdf

?????????????????? http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2086935

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Dutch financials are ???retreating??? money from Spain and Italy. Not much of a surprise, I would add

?????????????????? http://www.dnb.nl/nieuws/nieuwsoverzicht-en-archief/statistisch-nieuws-2012/dnb278920.jsp

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