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Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media
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14 июня 2011, 14:48

U.S. Macro in Three Charts: Credit Flows

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The U.S. is suffering from insufficient aggregate demand the result of the bursting of the 2004-07 credit bubble.   The consumer led economy financed by borrowing, much of it backed by home equity,  has given way to massive private sector deleveraging as reflected in the charts below.  To cushion the blow, the federal government stepped up [...]

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14 июня 2011, 14:41

Production Numbers All Argue for Investment in Precious Metals

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As legendary investor Jeremy Grantham notes, copper production is falling: As I’ve previously noted, gold production has also been falling: Reuters India noted on March 29th: China’s gold demand is expected to double over the next decade due to jewellery consumption and investment needs, the World Gold Council (WGC) said in its first report on [...]

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14 июня 2011, 06:30

Jackie Moon’s Lehman Moment

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We love allegories.  The Wizard of Oz was, many believed, an allegory of the political and economic times of the 1890s.  The “Yellow Brick Road” represented the gold standard, and the silver slippers the Silverite sixteen to one silver ratio (dancing down the road).   Many of the characters in the movie supposedly resembled actual political [...]

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14 июня 2011, 00:15

Who Killed EBAY (& the Internet Auction)?

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In this morning’s reads, I mentioned an interesting  James Surowiecki piece in Wired, titled Going, Going, Gone: Who Killed the Internet Auction?. Surowiecki got many of the major issues correct — the auction’s novelty wore off, bargains were arbitraged away, last minute bid sniping, and the power of Google search to locate items that were [...]

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14 июня 2011, 00:15

Who (or what) Killed EBAY (& the Internet Auction)?

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In this morning’s reads, I mentioned an interesting  James Surowiecki piece in Wired, titled Going, Going, Gone: Who Killed the Internet Auction?. Surowiecki got many of the major issues correct — the auction’s novelty wore off, bargains were arbitraged away, last minute bid sniping, and the power of Google search to locate items that were [...]

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13 июня 2011, 23:28

Life = Risk

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Hat tip Carl H

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13 июня 2011, 22:57

Grantham: Time To Be Serious (and probably too early) Once Again

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Enjoy this Grantham embed (via PKedrosky) until GMO takes it down (you can access it at GMO) . I strongly suggest signing up at GMO’s site. Grantham Limits, Part II(function() { var scribd = document.createElement("script"); scribd.type = "text/javascript"; scribd.async = true; scribd.src = "http://www.scribd.com/javascripts/embed_code/inject.js"; var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(scribd, s); })();

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13 июня 2011, 21:45

Making Fun Of Everyone On ‘South Park’

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> Sources: Making Fun Of Everyone On ‘South Park’ NPR, May 28, 2010 http://www.npr.org/templates/story/story.php?storyId=127210540

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13 июня 2011, 21:30

JOLTS: 7 Applicants Per Job Opening

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At this morning’s conference, someone asked a question about Wages, and I was reminded of this chart. > click for larger chart via David A. Rosenberg & Gluskin Sheff > With that sort of ratio, upwards Wage pressure is likely to be non-existent (exceot for specific skillsets . . . Dave adds: As the chart [...]

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13 июня 2011, 21:00

Twitter Doesn’t Cause Narcissism

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Ross Douthat is getting a lot of good vibrations for his Anthony Weiner-inspired take on the new Culture of Narcissism which he facilely links to the rise of social media: “According to a variety of sociologists (San Diego State’s Jean Twenge, Notre Dame’s Christian Smith, and others), younger Americans are more self-absorbed, less empathetic and hungrier for [...]

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13 июня 2011, 20:55

Color on S&P Downgrade of Greece

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“S&P’s downgrade of Greece to CCC has them one notch below Moody’s but at this level of a rating, just above default, there isn’t much of a difference. The heightened risk of default is the basis for the downgrade as S&P said “we believe some official creditors will see restructuring of commercial debt as a [...]

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13 июня 2011, 20:30

Rosenberg: 99% Chance of Recession by 2012

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David Rosenberg, chief economist at Gluskin Sheff & Associates, talks about the outlook for the U.S. economy. Rosenberg, speaking with Betty Liu, Jon Erlichman and Michael McKee on Bloomberg Television’s “In the Loop,” also discusses fiscal policy and banking regulation. Bloomberg’s Ian Katz also speaks. Source: Bloomberg June 13 2011