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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 12th, 2009 at 6:13 pm
In government we trust.
November 12th, 2009 at 7:04 pm
“The only real security that a man will have in this world is a reserve of knowledge, experience, and ability.” -Henry Ford
Same thing could be said of slaves.
November 12th, 2009 at 8:44 pm
Sadly, the lesson learned is that moral hazard is only a problem for the taxpayer.
One year has passed and nothing has been addressed. The only thing that has changed is that the Fed has piled money into the banks so they can speculate on an even grander scale.
Congress and the White House have been sold to Wall Street.
November 12th, 2009 at 9:32 pm
So, How do you really feel about America?
America Is An Over-Indebted, Profligate, Spoiled Nation In Decline
http://finance.yahoo.com/tech-ticker/article/370977/America-Is-An-Over-Indebted-Profligate-Spoiled-Nation-In-Decline;_ylt=AjH9bEyocqhZKQQIq7ZLu4lk7ot4;_ylu=X3oDMTE3NGwzZHN1BHBvcwMyNARzZWMDYXJ0aWNsZUxpc3QEc2xrA2FtZXJpY2Fpc2Fubw–
November 13th, 2009 at 8:04 am
Eurozone emerges from recession.
http://news.bbc.co.uk/2/hi/business/8358227.stm
November 16th, 2009 at 9:37 am
[...] Bankers already know the most important lesson from the financial crisis. It’s ‘Don’t invest your bonus money with Bernie Madoff’. [...]