Wheat at Two-Year High on Russian Export Ban

WSJ.com - Wheat at Two-Year High on Russian Export Ban http://on.wsj.com/9ZOmDg

Wheat futures prices soared Thursday to their highest levels in two years after Russia said it would ban grain exports due to a severe drought, a move that heightens concerns about global supplies of the grain and the possible impact on food prices. ...

Stiglitz Says U.S. Faces `Anemic Recovery,' Needs More Stimulus

Stiglitz Says U.S. Faces `Anemic Recovery,' Needs More Stimulus

Nobel Prize-winning economist Joseph E. Stiglitz said the U.S. economy faces an “anemic recovery” and the government will need to enact another round of “better designed” stimulus measures. ...

Friday's Jobs Report: Forecast Is For More Disappointment - CNBC

Friday's Jobs Report: Forecast Is For More Disappointment - CNBC

US private sector employers likely added about 100,000 jobs in the month of July, but a new round of state and local government layoffs may add new weight to the jobless rate. ...

US Economy - No Double Dip, No Deflation: RBS - CNBC

US Economy - No Double Dip, No Deflation: RBS - CNBC

Following a number of strong earnings reports that includes encouraging outlook, the economy is not "headed for either a double dip recession or a deflationary malaise," according to Royal Bank of Scotland.

John Richards, the head of North American strategy at RBS, said "We expect GDP growth of at least 3 percent in the coming six quarters and a very slow pick up in inflation." ...

Stocks - Forget Doom, Old-Fashioned Rally Coming: Fund Manager - CNBC

Stocks - Forget Doom, Old-Fashioned Rally Coming: Fund Manager - CNBC

Michael Browne, fund manager at Martin Currie, told CNBC.

"Risk aversion is the new black and the professors and black swans are falling over themselves to predict the collapse of a debt-laden economy,"

"Almost all come up with the same pattern…they are lending again to small and mid-sized corporations and would like to lend more but there is no demand, especially from large corporations who are funding themselves from a very cheap market,"

"Individual lending is also showing signs of life. So if on top of this you get the consistent pattern of falling provisions then they are telling me that the economy is recovering. Rather faster than we should have expected,"

"The post re-stocking dip seems to have been obliterated. And the same message is coming from pretty much everywhere. The job creation rate is quite impressive, especially from Germany,"

"There is money in the kitty and each board will face the question in September of 'what to do with it? Do we buy companies, invest in new plant and people or return it to shareholders.' Well, expect all three,"

"Will it all end in tears? Not if you look at the detail…the fiscal plans are frankly all about trying to hold government spending flat in absolute terms while nominal GDP rises and the tax take then rises,"

"If credit improves and allows the recovery to be recognized then there is significant potential for a major equity rally: risk premiums are at all-time highs in Europe and if we are right, the earnings estimates for 2011 are too low,"

"We are net long 66 percent and are about to take on some leverage……just like we were in 2004 and this year is just like 2004."

Commodities - Wheat Soars; Rogers Sees 'Much Higher' Food Prices - CNBC

Commodities - Wheat Soars; Rogers Sees 'Much Higher' Food Prices - CNBC

The July rise in wheat prices, the fastest in 51 years, indicates that shortages in agriculture are coming, Jim Rogers, chairman of Rogers Holdings, told CNBC.com Tuesday. ...

"That's the straw that broke the camel's back,"

"We're going to have much, much higher prices over the next few years,"

"Be prepared, if you have a sugar bowl home go fill it up because it's going to be more expensive,"

"Prices aren't high enough and most people don't believe it,"

"Unless prices are high you're not going to attract people in the business. Eventually people will go into farming again but it's going to take a while."

"It's all happening at a time when governments are printing more money… it's a very dangerous situation,"

"When you print money, it's got to go in a place where it can protect itself, and that's real assets,"

US Unemployment Could Rise Before It Drops: Geithner - CNBC

US Unemployment Could Rise Before It Drops: Geithner - CNBC

Treasury Secretary Timothy Geithner said the U.S. unemployment rate could rise for two months before it drops, potentially deepening Democrats' problems in the November congressional elections. …

Fed Is Unlikely to Take Major Steps to Boost US Economy - CNBC

Fed Is Unlikely to Take Major Steps to Boost US Economy - CNBC

Markets might be getting ahead of themselves in anticipating some bold new moves from the Federal Reserve to combat the weakening economy. …

Banks Continue to Suffer From Weak Revenue Growth: Whitney - CNBC

Banks Continue to Suffer From Weak Revenue Growth: Whitney - CNBC

Despite relatively strong second-quarter earnings, US banks are still suffering from poor revenue growth and will continue to do so at least into next year, financial analyst Meredith Whitney told CNBC Tuesday. …

Editorial Cartoons

Editorial Cartoons http://i.usatoday.net/news/opinion/_photos/2010/08/02/e100802_pettpg-vertical.jpg

By Joel Pett, Lexington (Ky.) Herald-Leader, Cartoonists and Writers Syndicate, for USA TODAY