User 142738

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98 Comments

    • Wed Nov 12th 18:44 PM | Rating: 0 0
      Commented on:
      Treasuries and the U.S. Dollar: Twin Bubbles
      The author claims that Japan government debt is 7 trillion dollars, which is a gross underestimation. You can find a comprehensive list of the past and present national debt of Japan, translated to English, here:

      www.mof.go.jp/english/...

      Translated to dollars at a rate of 95.43 yen per dollar, the total government debt is approximately $8.8 trillion. This is up from approximately $5 trillion in 2001.

      Furthermore the author justifies such large deficit spending by using the country's savings rate as collateral. Many Japanese keep their money in "dollar accounts," not at the least because the interest rates are higher. Interest gained in dollars are also exempt from local taxes, which can be very high.

      Has the history of issued 100-year Japanese bonds been forgotten? This article is rubbish!
      View article »
    • Wed Nov 12th 15:59 PM | Rating: 0 0
      Commented on:
      What Can 4 Trillion Yuan Buy?
      This is not the first stimulus from China this year. Take a look at the Shanghai Composite index in the middle of this past September. That was part of the ¥1.3 trillion (?) plan to just buy stocks. Look past September and you can see its "success."
      View article »
    • Thu Nov 6th 15:15 PM | Rating: +1 0
      Commented on:
      The Perversion of American Capitalism
      My God. The author is absolutely correct. I was about to post a quick comment about Japan's huge national debt (180% of GDP vs. 68% of GDP for the U.S.), but have any of you even been to Japan? Does it even exist? Could the Illuminati have created an entire country meant to make the U.S. debt levels look "not so bad"?

      I would have mentioned the huge number of high-growth, low-debt industries in the United States such as Google and Apple, but have you even seen Apple's headquarters? Is Steve Jobs nothing more than a hologram? And Google... do they exist either? I thought Baidu copied Google, but it could be the exact opposite: Baidu created Google! Can you travel back in time to prove otherwise?!

      I loved the comment the author made about the British pound becoming the new reserve currency. It was the proverbial nail the coffin for the author's credibility.
      View article »
    • Tue Oct 28th 21:23 PM | Rating: 0 0
      Commented on:
      China Wants the U.S. Dollar to Drop Dead
      Well, after the fall in the mainland stock market (down 70%) and an embarrassing failure of a currency hedge (down 36%), who can blame them? The Australian dollar won't rise on its own, you know! Perhaps Bloomberg and the like can start a new section solely for angry blame-spreading investors like the Iranians, who would randomly mention their not-quite-opened dollar-free oil bourse every once in a while out of spite.

      If a book comes out with the title "The China That Can Say No," then we can worry. Though by then my worries would be with the Shanghai Composite as they should have been with the Nikkei.
      View article »
    • Sat Oct 4th 13:28 PM | Rating: 0 0
      Commented on:
      Iceland: When Too Big to Fail Becomes Too Big to Rescue
      Iceland isn't in the eurozone (yet). Their currency, the krona, has been in a worse freefall than the Korean won simply due to the size of any necessary bailout.
      View article »
    • Tue Sep 30th 23:08 PM | Rating: 0 0
      Commented on:
      Batteries Drive Buffett Back to China
      Am I the only one being reminded of Malcolm Bricklin’s similar gamble with another Chinese car company?
      View article »
    • Wed Sep 24th 18:45 PM | Rating: 0 0
      Commented on:
      Dell To Put LEDs in All Its Laptops
      paul: that makes sense. I looked up the cost of OLEDs and I was WAY off!

      Also, Cree (“CREE” on NASDAQ), a U.S. company that likes to show off its product in sports arenas.
      View article »
    • Wed Sep 24th 15:56 PM | Rating: 0 0
      Commented on:
      Dell To Put LEDs in All Its Laptops
      I believe the author is referring to "OLED" technology. LEDs are the tiny lights that blink when you're opening or saving files.
      View article »
    • Mon Sep 22nd 21:35 PM | Rating: 0 0
      Commented on:
      In the Midst of an Extreme Black Swan (Part II)
      The author claims that "China has not banned short selling." This is absolutely false. You haven’t heard of China banning short-selling because it has been banned since the inception of a stock exchange. The concept of short-selling stocks of government-owned enterprises isn’t really beneficial, so why allow it?

      You probably haven’t heard of the 1.4 trillion yuan ($200 billion) bailout package, either, where the government essentially bought stocks at face value to push the local stock market index over the “psychologically significant” level of 2000 points. I suppose that’s a good way to stimulate the global economy — forgive huge amounts of U.S. debt and buy mainland stocks!
      View article »
    • Thu Sep 18th 16:21 PM | Rating: 0 0
      Commented on:
      Britain's Short-Selling Ban
      Banning short-selling does nothing.

      Case in point: short-selling has been banned in China (not Hong Kong) pretty much forever despite the 70% drop this year. It did not help.
      View article »
    • Thu Sep 18th 10:21 AM | Rating: 0 0
      Commented on:
      AIG Bailout Signals End to American Values
      The author claims that "countries such as India and China are starting to embrace many of the values that have made the US great". This is patently false. If anything, China and India have a gigantic head start in government interventions, takeovers, forced mergers and bailouts. Look up the recent (failed) propping up of the rupee in India, or the China Mobile merger, for a couple of examples.

      A 15.9% (perhaps higher since it's based off of LIBOR), two-year loan would be considered usury for a HELOC, but for AIG it's suddenly a bailout? No. It's a very high-interest loan, with about a trillion dollars worth of collateral backing it up.

      Such an event would probably be considered a legitimate "stimulus" if it were to occur in any other country. Even if the loan were for 0%.
      View article »
    • Wed Sep 17th 19:50 PM | Rating: 0 0
      Commented on:
      Synutra Goes Beyond Government Orders in Infant Formula Recall
      China-produced formula is exported, though only formally to Taiwan; perhaps other places. Informally, it sneaks into ethnic shops all over the world.
      View article »
    • Mon Sep 15th 15:33 PM | Rating: 0 0
      Commented on:
      Quite a Reversal - China Central Bank Cuts Interest Rates
      "Inflation cooled to 4.9 percent in August..." Really? Perhaps per month, but definitely not per year.

      If you believe the inflation figures from the Chinese government then I've got a trunk of money in Nigeria with your name on it.
      View article »
    • Fri Sep 12th 10:09 AM | Rating: 0 0
      Commented on:
      Shanghai Should Continue to Sell Off
      Selling $1T in reserves would require the PBoC to print 6.84 trillion yuan. I believe far more than 6.84 trillion yuan were lost in this correction.
      View article »
    • Tue Sep 9th 23:30 PM | Rating: 0 0
      Commented on:
      Is Wachovia the Worst Run Bank in America?
      User 258704: Technically, the shares were purchased, albeit for $0.00001 each. The Treasury press release is here: www.treas.gov/press/re...

      A separate report also outlines that the Treasury expects to receive a 10% dividend, cash only (or 12% if a year is skipped).

      In related news, I believe Jim Rogers has finally flipped his lid. If lost equity were debt (houses and land, luckily, can be classified as assets or equity; stocks cannot be assets), the correction in Shanghai would have wiped out China's cash reserves sixfold.
      View article »
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