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Recommended read; straight from the viper's den [BIS research hub]
Before shifting my attention to North Korea - Brazil match [in which, with the help of the Glorious Leader Kim il-Sung, the Mighty Team of Uber-footballers will triumph over capitalist pigs from Brazil, and with the force of a thousand Suns their glorious victory shall ignite the flames in the hearts of people worldwide and lead them towards Liberation from Capitalist shackles (j/k; do not junk por favor)] I just wanted to present you with a few papers I deem worthy of a read.
Also, I strongly recommend browsing, once in a while, trough BIS research hub if you want to stay current with the newest economic [and related] trends. So without further ado; these are the recommended reads.
First paper deals with currency collapses and dynamics involved with them. Its one of the best [albeit somewhat short] papers I have encountered recently that deals with said topic.
Next paper deals with China's saving rate analysis. Crushing some old myths and exposing us to some, rather, curious truths, the paper might serve as one of the best indicators of what awaits the Chinese economy in the years to come.
From San Francisco FED comes the paper which discusses technology diffusion and post-war growth [highly recommended].
That's it from me for today.
With BP being downgraded [just as I said it would be, albeit I thought it would happen last Friday] to BBB; I recommend you pay a more closer attention to CDS market and IG bonds, and if the rating agencies start going on the downgrade binge [PIIGS related] next few weeks should be fun.
Take care ladies and gentleman.
P.S.
May the thousand sun bathed swans carry Democratic People's Republic of Korea towards victory this evening.
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fu
Yes, you add value cb. You might just be the immortal beloved...2 us that is. Demons are difficult things 2 surrender, I have a few of my own.
http://www.youtube.com/watch?v=lYftZ0hd4FQ
Newbie here. Long time lurker, new poster. I made the effort to post to be able to say, "Thank You Cheeky". Cheeky, the first four I won't comment on, but, alone? Lonely? I see that you have many friends and admirers here.
Thanks for the effort and the comment. No, not loneliness [which is a feeling], but solitude [which is a state of being]. I'm grateful for the luxury of solitude and for the absence of loneliness in it. As for the other 4; it was one hell of a ride while it lasted.
All NK goalies should be sporting the dear leaders' fro. It's all about volume dahlingz. night night. ;)
The first paper is difficult to comprehend how idiotic it is. We're fucked when " currency devaulations improve output" is what the rigged econometric modeling tells us.
I've got an idea. Let's raise the prices for everything so GDP will have to go up. Ready? Go!
I recommend you pay a more closer attention to CDS market
Yes sir. Who at this point trusts Moody's/S&P over what the CDS market is saying? The agencies can knock a debt rating down three notches overnight and it doesn't even move the needle on bond prices anymore (like Greece yesterday) because the market has already adjusted to what the CDS market (and other inputs) is saying.
nothing in life comes for free.
Now there is some wisdom that needs constant repetition just now.
Very good articles, I read things that I didn't know about the Chinese situation and currency.
cheeky, i am beginning to think you were probably a bit of an overachiever growing up as a young man. but your sure are a lot of fun, and we still love ya.†
i could be a
wikipedia has other 10 different categories that The term "viper" may refer to:. hummm, all of them are pretty exciting.
thanks for a new idea to explore, babe†
no.
i just never wanted to be thought of as being an idiot.
that might have led to overachievement; and if it did; good.
it also lead to booze, addiction, illness, divorces and solitude. but hey, nothing in life comes for free.
.
†
?
?
"booze, addiction, illness, divorces and solitude"
The five pillars of enlightenment.
Thou knoweth what thou speaketh about. Thou shall from now on be knoweth as "Bolweevil The Wise".
¿
Good stuff Cheeky. Cheers.
Brazil 2 - N.Korea 1
Rumor has it that the North Korean fans in attendance were actually Chinese party members getting a free trip for good behavior and pretending to be "Happy" North Koreans..Who is going to call their bluff?
I especially liked the report on China; but more as a work of fiction, in which Marx gets 'done' by Keynes. I had to chuckle when I saw that China's homeownership rate could be 85% - maybe that includes the multiple homes owned by the speculators divided by the total population. I had been thinking lately that our SS system was the greatest Ponzi scam ever, but China has US beat, hands down.
From the Currency Collapse paper:
"Taken on its own, the drop in exchange rate actually has a positive effect on output."
In other words, devaluation of the currency is synonymous with decreasing the cost of labor (increasing productivity), the Holy Grail of capitalism.
I wonder what, if anything, will be reported in DPRK.
UD:
FUCK YES SON. GLORIOUS SPIRIT OF DEAR LEADER KIM IL-SUNG SCORED A GOAL trough this meat vessel that carries it.
When it is approved by the great comrade leader, it will be here:
http://www.kcna.co.jp/index-e.htm
Just spit bourbon onto my keyboard.
My keyboard is covered by a condom-like plastic sheath. I am not made of money, you know.
+10
The goalie will definitely be a human torpedo in the North Korean navy if he makes it home.
i have something special planned for them if they lose.
The paper on currency collapses reads like "it's not bad at all!!" Maybe they're trying to say something?
Thank You, CB.
So Cheeky,
If the premise of the last paper is true, then we should all be able to juice GDP in the US by 3 to 3.5% if we all update our Facebook pages a little more often, and tweet about it.
That would assume that we all upgraded our I-Phones as well, I guess.
I didn't write the papers, I just find them interesting. Dont you get sassy on me young lady.
What I find interesting Cheeky are the consistant warnings coming out of the BIS on the economic front for the last three years now at least.
Since the BIS membership overlaps most of the major CB players I have always wondered what the fu$% gives?
Intentions of using this credibility to position themselves for the future perhaps?
Same with Roubini and his prescient calls... but Summers his close personal friend and business associate could not see the storm clouds?
And now Roubini sees the double dip.
Thoughts?
Oh, word!
So much for 'not posting again for a little while'. Will read these with my nightly cup of Tims tonight.
This is more a "shit and giggles" post, than anything "serious".
The Samba Kings look like they are trying to dance their way through the NK defence.
Kim has been rumored to be playing in today's game.
I liked the idea when Kim said he was going to lasso the moon and bring it back to earth for all North Koreans to enjoy.
He does enjoy his B&Ws and Champagne.
"George lassos moon."
I wonder how many lashings they will get from Kim Jong Ill if they lose...
He's really just misunderstood... watch and enjoy a thing of beauty!
Team America Rules!
http://www.youtube.com/watch?v=xh_9QhRzJEs