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    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

Bob Janjuah's Latest: Time To Fade Jackson Hole

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Wed, 02/02/2011 - 08:43 | 926730 FOC 1183
FOC 1183's picture

No abbreviations.  :{

Wed, 02/02/2011 - 10:30 | 927061 oh_bama
oh_bama's picture

The idea is that as long as there are people don't believe the BTFD--the guys appear to be knowing what they are doing,

then you can safely


Wed, 02/02/2011 - 09:05 | 926753 blindfaith
blindfaith's picture

you take both side of the story and melt them together and you get a story that isn't saying a thing, especially to Zh readers.

You, as a strategist, lack in a strategy.  Describing situations is not analysing  situations for a strategy.  How can you state to invest in commodities in one place and that will have  Major sell off in another?????

Wed, 02/02/2011 - 10:58 | 927179 gringo28
gringo28's picture

no fucking shit. if this is what passes for buy side strategy these days, no wonder 75% of hedgies can't even match the stupid fucking SP500. on a serious note, i will say that this guy misses the big point: that the US is going through a structural recovery and the EMs are cyclical doesn't preclude for a minute the possibility that things will be just fine in EM land, if not at a slower pace, and persistently shitty here in the US. armchair analysts need to get on a frikin' plane and spend some time in Brazil or China before they decide to impose the US development model theory on developing economies. EMs' greatest asset is a starving populace that will work harder for less money.

Wed, 02/02/2011 - 08:57 | 926759 prophet
prophet's picture

Decent article on inequality, prosperity, happiness, and inflation:


Wed, 02/02/2011 - 09:15 | 926797 Ajaxromeo
Ajaxromeo's picture

JanJuah's logic uses the wrong premise. He accepts QE as a stimulus when it is not. It is monetization of debt that cannot be sold at rates the US can afford.

Anyone who argues that QE will end should be required to cite who will buy the 2 trillion in new debt the US will issue over the next year and at what rates.

The only way QE will end is if the Arab Genocide Program (war on terror) is halted.

How high is the 'political hurdle' for that?

Wed, 02/02/2011 - 09:17 | 926804 whatz that smell
whatz that smell's picture

dude! - enough - with - the - hypens - already!

maybe go half -- half on the de-hypenated expresso next time...

Wed, 02/02/2011 - 09:17 | 926805 The Axe
The Axe's picture

Please I agree with the comment..A whole lot of nothing. These guys are more confused them I am in this glorified Fed induced fart stink of a market...

Wed, 02/02/2011 - 09:17 | 926806 Trader7
Trader7's picture

Forgive my ignorance, but what is the "EM bloc"? I'm guessing it refers to Europe. What does "EM" literally stand for?

Wed, 02/02/2011 - 09:23 | 926826 LMAO
LMAO's picture

Emerging Markets

Wed, 02/02/2011 - 09:28 | 926845 Trader7
Trader7's picture

Thanks. ...and thanks to RSI below.

Wed, 02/02/2011 - 09:24 | 926827 rsi1
rsi1's picture

Emerging MArkets

Wed, 02/02/2011 - 09:20 | 926816 Buttcathead
Buttcathead's picture

Debt does equal wealth.  If you is bankrupt and gots no debt you is broke.  If you is gots debt you is gets mega bail outs from The Bernack. 

Wed, 02/02/2011 - 11:04 | 927203 nathan1234
nathan1234's picture

It's time that the Fed along with Alan & Ben be buried in Jackson's Hole forever. A cement jacket would be ideal as Ben may otherwise EASE himself out of it

Wed, 02/02/2011 - 12:05 | 927474 Zero Govt
Zero Govt's picture

"We think the risk is that Asia and the EM bloc choose growth over the prudent and credible management of inflation.."

How do you think Govt policy has any effect on what 50,000 businesses in each economy do and react to events? Govt is the King Canute of the economy, actually check the facts, they FOLLOW the economy not dictate or predict it. Govt is a fag paper flapping in the economic wind, not a conductor. It has no control over small to medium sized business decisions who are 90% of the private sector. Big Govt talks only to Big Biz. Both are marginals in the economies direction. 

"...a common eurozonewide fiscal policy... seems to also to be accepted by eurozone policymakers ...giving up of sovereignty."

I got news for you buddy. The Eurozone is popping at the seams. The trend you haven't noticed is for Euro disintegration, not integration (tell Barruso and Van Rompey, these dreamers need to face reality sometime). The trend will be for countries to stamp their own sovereignty and go their own way, not be consumed by the dumbed down EU Marxists trite view of a harmoginised Euro-margerine they can play conductor with. They're about to get their wand stuck up their rectum while their 'Great Euro Empire' splinters and shuts down the EU for good.

"Policymakers may indeed have won a few battles recently... risks that exist are not only being ignored, they are actually getting bigger."

You mean faced with a problem of debt, policymakers thought double the debt was a 'solution'. Every political solution throughout history is to throw more money at it. When faced with dumb, politicians think double-dumb is the answer. 

The real 'solution' is to allow the free market to work, for the bankrupt to go bankrupt, and to shut down Govt the worst problem solvers in history

Wed, 02/02/2011 - 12:10 | 927512 gwar5
gwar5's picture

Too late. It's a one way trip. They're past the fail safe point.

There's no going back. Benbabwe is all in.

Wed, 02/02/2011 - 13:07 | 927776 Zero Govt
Zero Govt's picture

"Benbabwe" like that... but it suggests this counterfeit money is hitting the streets, it ain't, it's going to theirer buddies in Big Banks because that's all Big Govt talks to. It has no effect on the 90% of the economy, SME's, nor does any political decision from central bankers who haved no control whatsoever over inflation or anything else. Big Govt and Big Biz is a fantasy land for the deluded control freaks ...windbags one and all

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