Here are the latest videos posted:
Jim Rogers: Markets Have ‘A Lot Further to Fall’
Dallas Fed Pres Richard Fisher: Economy May Slump Through 2009
In any great organization it is far, far safer to be wrong with the majority than to be right alone. —John Kenneth Galbraith
Asian currencies continue to sell off vs the $ on the heels of the news yesterday that South Korea said they will look into hot money inflows stemming from the $ carry trade and the Bank of Indonesia said they are looking into the foreign buying of bills. This follows the news a few weeks ago that Taiwan was limiting foreign deposit holdings and Brazil was taxing foreign inflow transactions. As I mentioned yesterday, we may have reached a short term pain threshold in terms of $ weakness and foreign countries are fighting back as they certainly won't wait for...
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November 4th, 2008 at 9:38 am
here’s one that should be interesting, as well:
http://www.cnbc.com/id/15840232?video=912963848&play=1
one could, safely, FFwd: to the ~4:45 mark to catch Stiglitz endorsing a Global Reserve Currency, Global ‘Overseer’, Global ‘Regulators’, et al..
Good Times.
quite the turn around from this cover piece: “Coming from some of globalization’s most prominent supporters (David Dollar), its most vocal critics (Joseph Stiglitz), ..”
http://www.cfr.org/publication/7856/globalization.html