Economy:
U.S. poverty rates reach 1960’s crisis levels: 45 million Americans, or 1 in 7, are considered “poor” – Yahoo News
Inflation in China Is Rising at a Fast Pace – New York Times
The Myth of Chinese Competitiveness – Are low wages China’s strength or weakness? – Research Institute of Economy, Trade & Industry
Doomsday warnings of US apocalypse gain ground – The Raw Story
Markets:
Investors, prepare for volatility – Reuters
Oil Rises For Second Day Amid Optimism About Economic Recovery in the U.S. – Bloomberg
Australian Dollar Climbs to Four-Month High on China Outlook; Kiwi Gains – Bloomberg
Treasury 10-Year Note Yields Climb to One-Month High on Economy – Bloomberg
Politics:
Top Earners Lose Cost of BMW If Bush Tax Cuts Expire – Bloomberg
Would raising taxes on the rich help or hurt the U.S. economy? – Miami Herald
Banks
Global regulators agree on tougher Basel III bank rules – Reuters
Banks told to double their cash reserves – Telegraph
SEC chief pledges better bank oversight – Salt Lake Tribune
