This page has been archived and commenting is disabled.
Frontrunning: April 5
- America: time to rebalance (Economist) - somehow we don't see America becoming a massive producing/saving powerhouse ever... But that's just us
- Bernanke shuts down printint press - "America must walk without crutches on gangrenous legs" (Telegraph)
- Inflation fears cut two ways at the Fed (WSJ)
- Goldman openly defies Volcker Rule as it buys stake in Ganek's Level Global (Bloomberg)
- Greece and California - Debtor states (New Yorker)
- PIMCO's battling brains (LA Times)
- Joe Cassano to sneak by with no charges filed against him (WSJ)
- It's ponzimonium in the gold market (HuffPo)
- When stocks stop moving like a herd (NYT)
- SEC lawyer one day, opponent the next (WSJ)
- Bonds with downgrade step-up provisions hit record (Bloomberg)
- Everyone loves Warren Buffett (Reuters)
- Robert Reich - Fed in hot water over secret bailouts (CSM)
- Kagan, judges said to be considered for Supreme Court vacancy (Bloomberg)
»
- 2449 reads
- Printer-friendly version
- Send to friend
- advertisements -
So, the US is going to become savers and exporters again. Obama said he wanted to double exports. Hence the attack on the Chinese over the Yuan. And Japan over beef, insurance, financials, and autos.
And he will get the backing of the EU, the IMF, and the WTO.
Obuma's five year plan to be announced soon..
nick named the "Great leap foreward"..
First a remake of FDR's New Deal and now, Mao's Great Leap Forward? Super.
...but who's going to work some shitty factory job when the unemployment checks just keep coming and coming? Or more importantly: Even if there were factory jobs out there, how exactly do we plan on underselling Chinese labor again?
How do we undersell Chinese labor? Well have to look at 3 factors.
1. Regulatory/Legal costs, high here low there.
2. Wages, high here low there.
3. Capital/Factories, fleeing here going there
Well 3 is gone, and only fools would put capital here. 1 is not going help us because the state will not get off our neck. That means we are really going to have to go crazy on 2. Welcome to serfdom boys!
We better get going on living cost deflation then. Chinese workers can scratch out a living on $145/mo but we can't. Serfs can only survive in a serf-scaled local economy.
How about this: encourage US based industries to build factory compounds, with onsite barracks so workers don't need cars. Company store would sell veggies, bulk cheese, & meat products. For a cut of their paycheck workers could even get onsite basic health care, as long as they can still work.
It would involve some expectations management for many American workers but the next generation would get used to it.
Someone please stop me from ever clicking on a Huffpro link again.
I just like reading the comments section. Although sometimes I feel bad because it feels like I'm laughing at the mentally handicapped.
"Joe Cassano to sneak by with no charges filed against him (WSJ)"
Okay ZHers... I can not post a poll on ZH officially, but...
Joseph "AIG Worm" Cassano will not be prosecuted because:
A) There is no evidence Cassano committed a financial crime.
BAHHA-haha-ah-fuckin-BAHAH-ah..ha.
Sorry, let us continue:
B) If indicted, Cassano would depose and finger Geithner, Bernake et al.
C) If indicted, Cassano would finger GOD... Blankfein et al.
D) If indicted, Cassano would finger Hank Greenberg...
... and Hank "OSS" Greenberg has dirt on EVERYBODY...
E) Obummer is a Wall Street patsy and AG Holder is an empty suit that has not shown up to work yet...
I await the results of this well constructed question and unbiased options... Screw Rasmussen ... I should go into the polling business...
Good linux hosting package offered by ucvhost which not only provides the best in terms of hosting packages but also believes in truly being there for the customer, 24x7. cheap hosting Moreover , they offer unlimited bandwidth as well as nearly 1GB storage along with database maintenance, email facility along with storage, availability of sub domain and many other important features for a very low price. windows hosting Thanks forex vps