Asia overheating
The S&P 500 and the Yen Carry Trade
Pettis: Is it time for the US to disengage the world from the dollar?, Rebalancing through wage increases
China Losing Competitiveness
Carlos Slim and Silver, Soros Sells Gold ETPs as Paulson Keeps Bet on Holding the Metal
Benmosche 9% Yield Hunt May Mean AIG Got Junk, Mortgage Bonds. Bailout #N coming up.
Comparing REIT Yields With the S&P 500
Should the Fed be worried about wage inflation?
Court: No resisting unlawful police entry
The Airplane That Saved the World
Greetings again from Madrid,
ReplyDeleteLast night we ventured into the square where the protests are being held. Quite calm by any standard, but the protesters are very serious about their cause.
We spoke with a group of people, mostly young, who told us that this is about the lack of choice in political parties, and the disgust that the people have for the bankers.
There is a socialist government now, but they are governing from the right regarding economic issues.
As a part of our program we have lectures and this morning we had a lecture that covered their political history, and the events that are happening today.
The protests are about a combination of issues; but they stem from the same cause which is the collapse of the economy due to the banking crisis. The people are not in favor of the EU bailout but there might not be any choice in the matter for the government.
ReplyDeleteAs a result of the economic collapse and high unemployment the people are not seeing their "socialist" government respond in a way that helps them out of this crisis. They understand it is global but this is why they want more choice in government.
It seems that in Spain they are facing many similar economic issues that we are facing.
Emmy,
ReplyDeleteGreat link fest! Thanks.
Off to lunch and a tour of the Royal Palace. Tonight we have meeting with students where we will have a question and answer session.
This will be interesting as this meeting was set up long before these protests began.
Great link fest Emmie!
ReplyDeleteGreat to hear from you Denise, I'm so glad you're getting to talk to some of the people, and the on the ground insights on what it's like there is awesome. Do either Spain or Portugal look like countries in the middle of a once in a lifetime crisis? Are there a lot of closed stores? Are restaurants empty? Are there a lot of international tourists? Are you seeing a lot of Chinese?
Have a wonderful trip and a safe journey home!
@Emmy,
ReplyDeleteTimely linkfest. We were talking about some of these issues last week.
Power shortages in China and the effects of end of QE2 on market.
Really liked that S&P and Yen carry trade chart.
What are your thoughts on market direction from here?
Thanks again.
ICan
@ICan
ReplyDeleteMy gut says sideways action for the next 3 months followed by a dip due to the end of QE2. Euro slides to 1.30. 10 year yield goes below 3, again. Bearish basically.
But this goes against the "US economy gaining strength" thesis.
@Emmy,
ReplyDeleteSome are saying the Euro was up due to China buying PIIGS' bonds.
So many cross currents I suppose.
Great links,
ICan
SNL
ReplyDelete"Mahmoud Ahmadinejad says Europe stealing Iran's rain".
http://www.telegraph.co.uk/news/worldnews/middleeast/iran/185274551/
Ican
@Emmanuel117:
ReplyDeleteGreat links. I loved the story about the Spit. I build a Dave Platt standoff scale in um, about 1965, and it was a dream to fly. Most planes that are scale fly like underpowered monkeys, but the Platt Spit was terrific, you could get in trouble but relax the controls and she'd recover on her own. Amazing.
Mine was balsa sheeted wings, but the original was cloth. I actually got to sit in one at an air show one time. Unforgettable.
Brings back a great set of memories. Thanks.
So, Here's one more link I'd like to recommend you read.
ReplyDeleteIt's for your future and mine. Falls into my "structurals" category.
http://www.mahbubani.net/articles%20by%20dean/The%20phoenix%20effect%202009%20%28final%20version%29.pdf
I am especially looking forward to any comments by ICan.
Hello all. Thks Emmie. Though not time to do much reading, as I must concentrate on coding, while spending some time with my friend who is hosting me in the Narbonnes too:p
ReplyDelete"Gotta" go to the beach now. lol. no it's cool. nice place.
See you later all.
WOlfie - have a great time at the beach! I can't remember the last time I was at the beach, a couple of years ago I think. Sad, my gym is across the street from the beach :-) I'm not a beach kinda guy.
ReplyDelete@Rock,
ReplyDeleteK Mahbubani, a person of Indian origin, born in Singapore.
Thought provoking article - whether the west should worry about innovation and entrepreneurship moving to the East?
I would study post-war Germany to find an answer to that question.
ICan
Re Rapture,
ReplyDeleteThe followers still have to pay their credit card bills. No hiding from debt.