Amusing email circulating trading desks:
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Source:
Apply for a Federal Bailout!
Bruce Feirstein
Vanity Fair, December 1, 2008, 9:47 am
http://www.vanityfair.com/online/politics/2008/12/bailout-application-leaked.html
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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December 3rd, 2008 at 8:05 am
Good one!
December 3rd, 2008 at 9:55 am
Too much truth makes funny unhappy.
As an aside, I’d like to update the Quote of the day: “But if you are an evil, wicked economist, you are reborn as a REALTOR.”