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Absolute Return Partners Issues Stern Warning

Tyler Durden's picture




 

After today's newsflow was dominated with international trade doom and gloom resulting from the collapse of the dollar, Absolute Return Partners provides a great presentation which ties all the loose ends together quite elegantly. The conclusion is not pretty. Recommended reading.

 

 

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Thu, 10/08/2009 - 18:59 | 93587 Mos
Mos's picture

Nothing to worry about.  The printing press will solve the demographic problem. It will create the needed wealth to pay the pensions and medical bills of the aging population of the world and drive innovation well into the second half of the 21st century.

 

Just don't tell the people living in the 3rd world.  While we print our way to a high living standard they are enslaved to a life of poverty.  What suckers!

Thu, 10/08/2009 - 19:08 | 93598 Anonymous
Anonymous's picture

How does a global war factor into this?

Fri, 10/09/2009 - 03:47 | 93888 Cheeky Bastard
Cheeky Bastard's picture

pretty good actually ( for those who could benefit from it )

Thu, 10/08/2009 - 20:13 | 93644 dot_bust
Thu, 10/08/2009 - 20:54 | 93672 Gilgamesh
Gilgamesh's picture

Racism, really?  The life-cycle / demographic stats are useful, but the crap sprinkled in about how "Surplus nations should obviously put in measures to ensure that their citizens save less and spend more" and "We may have to prohibit the use of condoms (not advisable for other reasons)"...  He can put whatever he wants in his own fund letters, but what a turn-off to some.

Fri, 10/09/2009 - 03:18 | 93884 Spartacus
Spartacus's picture

If there is a need of producing more kids so that the working population should increase, we can safely look to the ASIAN countries like,INDIA and PAKISTHAN. Cheap labor available for almost free. There is an endless supply and will remain for years to come. The reason is simple. People have nothing else to do, they just ensure that the ant-size pricks pukes out the sperms in a 10 second act, everynight no matter what is the living conditions. The muslims have to produce because it is ALLAH's order to populate  the earth by their own progenies and then anhillate others who are infidels.

Massive unrest ahead.

Cheers.

Fri, 10/09/2009 - 05:52 | 93908 Jendrzejczyk
Jendrzejczyk's picture

May I say, "Ant sized prick spewing out racisim" here?

Fri, 10/09/2009 - 09:47 | 94020 DiverCity
DiverCity's picture

You surely may and reveal yourself to be every bit the dick you are.  You gotta know I hate "raaaaacism," cause I believe in DiverCity!  Consult your dictionary, man -- it's spelled with five, count 'em, five "a's."  Now get on with the Marxist anti-discrimination narrative.  Hurry!

Thu, 10/08/2009 - 23:04 | 93773 JR
JR's picture

This paper seems to be all over the map, IMO.  I do agree that short term Brazil may experience a spurt of growth and be a good investment.  Brazil is somewhat of a controlled society with little democracy to get in the way of government decree and has a young population--translation cheap labor--for the multinational corporations and financiers to exploit.

But I don’t agree with the paper’s long term assessments. It disregards the why of America’s unique role as the world’s economic engine; it appears to regard all governments equally, and it disregards the demographics of huge waves of immigration sweeping the globe and blurring cultural differences. And, in my opinion, unlike the author, I believe the pickle that global markets are in can be traced directly to the doors of the international bankers—especially the Fed’s. 

Without restoration or replication somewhere of the American economic and moral culture that made this nation the freest, strongest and most prosperous country on earth, there can be no long-term investment, IMO.  A relatively small group of people, such as Goldman Sachs investment bankers, will continue to take the nation's wealth and redistribute it to themselves until our free society and its worldwide cornucopia of wealth disappears from the face of the earth.  Without personal liberty, there is no economic liberty, and no need for investors.

And, addressing a primary concern of the author, it was the growth of collectivism and coercive central planning and the reversal of the fundamental principles of American life and culture that devalued retirement funds in America and made it necessary for welfare to take care of many of America’s elderly. (I do not consider Social Security welfare.)  Until recently, most families were capable of taking care of their own.

America’s free enterprise was and is unique, as is her Constitutional right for authors and inventors to secure for a limited time the exclusive right to their respective writings and discoveries.  It is this right that enabled America to reap the spectacular results which are being unloaded from her shores. 

In 1997, a study of the inventors honored in the National Inventors Hall of Fame in Akron, Ohio, revealed that 91% of the world’s greatest inventors worked in America and only 9% in other countries.  All this because of America’s superior patent system which gave men the incentive to burn the midnight oil for a chance to own a property right in their own invention.  That is the fountainhead of America’s progress.

It was the offshoring of America to China as she opened her communist doors to Western capitalism that enabled industrial growth in that nation and the U.S. Patent Office’s heinous placing of 1,271,000 patent applications by 2006 on the internet that created a gold mine for China to steal U.S. innovations and get to market quickly. 

"When the capitalist is gone," asks Ruth Wilder Lane, "who will manage production? The State.  And what is the State?  The State will be the mass of toiling workers."

Masses of toiling workers do not invest.

Thu, 10/08/2009 - 23:27 | 93789 Anonymous
Anonymous's picture

Bravo. Well said JR.

Fri, 10/09/2009 - 11:11 | 94115 Anonymous
Anonymous's picture

When Darwin visited Fuero del Fuego in 1872, the natives tore a present of a red cloth into strips to distribute these among themselves because they were radical believers in economic equality. For the natives, a thief is a man who honors the values of his ancestors. I bet that the populist egalitarians win. But the question that must first be answered is what is the meaning of economic equality in a world where 4.5 billion people are beyond anyone's ability to sustain.

Fri, 10/09/2009 - 14:09 | 94238 JR
JR's picture

And in our world, the chief would have torn a tiny piece off the edge of the red cloth and divided that among the natives, and kept the big piece for himself.  A very interesting story and question, I might add: both I would like to pursue further.

Thu, 10/08/2009 - 23:04 | 93774 Cursive
Cursive's picture

Meh.  Little disappointed with the letter.  Kind of a rambling rehash of stuff elsewhere.  I am rather confident that he'll have future letters expounding the virtues of investing in Brazil....

Thu, 10/08/2009 - 23:28 | 93790 Anonymous
Anonymous's picture

Bravo JR. Well written.

Fri, 10/09/2009 - 03:46 | 93887 Cheeky Bastard
Cheeky Bastard's picture

judging by this " letter " Niels Jensen is a fairly retarded individual. I have no problem with the ideas he has presented in this " letter " but with the truth function they hold in themselves. Niels Jensen, my good sir, if you are reading this, hold no grudge against this Bastard here, for he is simply telling the truth.

Fri, 10/09/2009 - 07:14 | 93923 aus_punter
aus_punter's picture

i must say it is good to read something where the author isn't unflappably convinced of the Chinese growth miracle

virtually every person in my part of the world is absolutely 100% certain we should hang our future prosperity on china

 

Fri, 10/09/2009 - 14:17 | 94255 blueskyscottsdale
blueskyscottsdale's picture

Agreed. America's noticeable prominence at the lower end of the chart is surprising.

Sat, 10/10/2009 - 19:03 | 95504 Anonymous
Anonymous's picture

By such argument, it is a good thing that we have this crisis so the western world can shift gear and prepare for the future.

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