Wednesday, October 26, 2011

 

Watch out for China’s ‘freak’ economy

Albert Edwards at SG Securities warned that China’s long-running investment boom has no precedent and is bound to burst. “China is a ‘freak’ economy,” he wrote. “To my knowledge no other economy in history has experienced such high investment/GDP ratios and seen so many sequential years of strong investment growth.” The Asian tigers in the 1990s? Japan? Nothing comes close, says Edwards.

That boom has helped carry the world economy through the troubles of the past five years. What happens if it, too, ends?

Don’t ask.


China was always going to end badly. Keeping their currency pegged to the dollar, artificially low, meant that all of the grow China has experienced was kept in country and the truth is that China never had that many domestic investments that made sense. If they had allowed the currency to float, and allowed citizens to invest outside of their country, then the real estate bubble would have been mitigated. In fact, it would have made China a much more wealthy society because they would have been able to buy the productive assets of other countries.

All of this is very bad because China was the economy that kept the credit bubbles effects from being fully felt here and in Europe. Now there is nothing to stop deflation.

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Tuesday, October 25, 2011

 

From the Onion? Dude, Where's My Victim?

It's funny enough but it is reported to be a genuine quote (via Tigerhawk) from an OWS protester in Toronto:

“It’s weird protesting on Bay Street. You get there at 9 a.m. and the rich bankers who you want to hurl insults at and change their worldview have been at work for two hours already. And then when it’s time to go, they’re still there. I guess that’s why they call them the one per cent. I mean, who wants to work those kinds of hours? That’s the power of greed.” – Jeremy, 38

Thursday, October 20, 2011

 

"You can go ahead and clap," the president said. "Go ahead, nothing wrong with it."

Asked about the muted response to the rare presidential visit, Lipscomb said emergency crews typically aren't demonstrative folk.

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Monday, October 17, 2011

 

Term limits: A bipartisan solution to congressional corruption

Email from my formerly liberal sister. I just don't know what happened to her. She is so damn sensible now I don't know how to deal with it:

I hope you all read it all the way through.

The 26th amendment (granting the right to vote for 18 year-olds) took only 3 months & 8 days to be ratified! Why? Simple! The people demanded it. That was in 1971... before computers, before e-mail, before cell phones, etc.

Of the 27 amendments to the Constitution, seven (7) took 1 year or less to become the law of the land.. all because of public pressure.

I'm asking each addressee to forward this email to a minimum of twenty people on their address list; in turn ask each of those to do likewise.

In three days, most people in The United States of America will have the message. This is one idea that really should be passed around.


Congressional Reform Act of 2011

1. Term Limits.

12 years only, one of the possible options below.

A. Two Six-year Senate terms
B. Six Two-year House terms
C. One Six-year Senate term and three Two-Year House terms

2. No Tenure / No Pension.

A Congressman collects a salary while in office and receives no pay when they are out of office.

3. Congress (past, present & future) participates in Social Security.

All funds in the Congressional retirement fund move to the Social Security system immediately. All future funds flow into the Social Security system, and Congress participates with the American people.

4. Congress can purchase their own retirement plan, just as all Americans do.

5. Congress will no longer vote themselves a pay raise. Congressional pay will rise by the lower of CPI or 3%.

6. Congress loses their current health care system and participates in the same health care system as the American people.

7. Congress must equally abide by all laws they impose on the American people.

8. All contracts with past and present Congressmen are void effective 1/1/12.

The American people did not make these contracts with Congressmen. Congressmen made all these contracts for themselves.

Serving in Congress is an honor, not a career. The Founding Fathers envisioned citizen legislators, so ours should serve their term(s), then go home and back to work.

If each person contacts a minimum of twenty people then it will only take three days for most people (in the U.S. ) to receive the message. Maybe it is time.



LET'S FIX CONGRESS!!!!! If you agree, pass it on. If not, just delete.
You are one of my 20+. Please keep it going.

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Friday, October 14, 2011

 

The Rescue Plan

Liberals always forget that it wasn't just the banks that were rescued.

Failure is not a problem for capitalism, in fact, it is a feature. Socialism is about propping up failing companies because of the fear of the unemployment it would cause. Unemployment is a sign that skills need to change. If you try and freeze the economy in amber with government bailouts you also freeze the unemployment rate because new businesses need the resources you are using for those bailouts to fund new business.

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What if the Marines landed in ancient Rome?

I read this on Reddit when it was being written and I thought that it was a very well written, clever story. I am glad that this creativity is being rewarded.

Diego adds: A rogue Time Lord tried this but not with our 21st century military. Several eras of human fighting capabilities were represented (including the Romans), not to see which would win but rather to pick from the survivors the fiercest individuals.

Thursday, October 13, 2011

 

Anarchists for Big Government

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Tuesday, October 11, 2011

 

Non studuisse Latinae ..



I do feel sorry for young people who are just getting out of school. I was graduated from my college in 1989 and I distinctly remember being told by recruiters that they weren't hiring but they showed up anyway as a courtesy to the school. Still, I knew better than to major in Classics which would have been a dead end. (I had four years of high school Latin that I enjoyed.) I thought a major in economics would be a little less frivolous. In retrospect, taking a year or two between high school and college to work would have been the smarter route. We would do young people a lot of good if we told them to think seriously about where they want to work and to try it out first before they go on to higher learning.

Then there are the people who want to blame everything on their own stupidity and/or poor choices. She should go with the drug dealing, IMHO.

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Thursday, October 06, 2011

 

ESPN ‘Parts Ways’ With Hank Williams Jr. – ‘Monday Night Football’ Theme No More

Boycotting Monday Night Football would not be a big loss for me.

Update: John Stewart agrees that this is stupid.

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Coming to a Theater Near You! (And DVD!)

If you missed the Time Machine when it materialized recently you can see the next best thing. It will be available on DVD/Blue Ray soon and will be playing in theaters at the end of October.



 

Wave 3, it's now or never


We have come to the point where we either rally hard or fall hard. I have no idea which because there are a bunch of mixed signals. Of course, it is the markets job to keep us guessing. If it was easy then...fill in your own cliche. You can look at my previous posts on this wave count to see my targets. A move above 11,291 would force me to look for a new wave count. The only thing that would surprise me is if we did not break out one way or the other by next week. So expect a lot more stomach churning volatility.

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