Archive for the ‘hkma’ Category
Sunday, September 7th, 2008
This CNN story about setbacks in pro-democracy movement in Hong Kong at first do not appear to be related.
However, when you stop and think about what it symbolizes, your eyes will widen and you will experience a tingle on the front of your forehead.
Don’t worry. It’s called nervous twitch.
Hong Kongers are voting to return to the days before everything was “improved”… the days before life was “more interesting”.
They are voting in symbolic “flight to quality” where they feel safer about wages, inflation and a system where who you know matters. Yup.
The problem is Hong Kongers don’t know who Fannie and Freddie are now. And the HKMA will feel more political pressure to follow the lead of the Chinese mainland take advice to liquidate– not reduce their stakes, not re-allocate their positions — liquidate anything rhyming with Fannie and Freddie from their financial system.
So, Mr. Paulson, when you bring out the bazooka as Bill Gross recommended, remember to bend your knees and when you fire, don’t forget to say “Booyaaah!!”
You have 5 hours to complete the Fannie and Freddie takeover before Asian Markets open.
Posted in bazooka, bill gross, china, economy, fannie, fannie mae, freddie, freddie mac, government sponsored enterprises, hank paulson, henry paulson, hkma | No Comments »
Sunday, March 30th, 2008
As time passes, people are beginning to wake up and understand the grim reality.
- You need a job.
- You need a job that produces something tangible.
- You need a job that will give you long-term stability.
- You need a job that is recession-proof.
- You need a recession-proof job that will not be outsourced.
Well, the U.S. Federal Reserve and the Hong Kong Monetary Authority are running out of ammunition (interest rate cuts) to help stabilize the economy and maintain the feeling that people are wealthier.
Even the ultra-rich elite people feel poorer, and THAT is grounds for deep concern.
Posted in ben bernanke, federal reserve, federal reserve bank, from dual, hkma, hong kong monetary authority, placebo, the fed, wealth effect | No Comments »
Friday, December 28th, 2007
Yeah. I said it.
Private Equity Firms. Mutual Funds. Hedge Funds. Federal Reserve. You can call them whatever you want. They are all banking cartels.
I just read this post on Austrian Economists.
http://austrianeconomists.typepad.com/weblog/2007/12/did-the-gold-st.html
Mismanagement Gold Standard Helped Cause the Great Depression?
Yes, But the Root Cause Was Antitrust.
History also remembers that the Great Depression was an antitrust problem that started by real estate crisis in Florida and set off a chain reaction nationwide. Lack of antitrust legislation and the era of the robber barons produced a class of Americans that possessed 90% of the countries wealth.
Upon accumulation of all this wealth, the robber barons exercised conventional wisdom abject stupidity in the management of commodities such as gold, silver, oil …. well, just pick any commodity, and chances are they mismanaged it. ^_^ The few families who got out of the market early survived. You may have heard of some of them: Rockefeller, Vanderbilt.
What is all this antitrust nonsense I am talking about?
It may be hard to remember, but in the U.S. there were actually laws (antitrust laws) that clearly stated that your bank could not do your taxes, your tax preparer could not provide your insurance, and your insurance company could not manage your mutual funds.
Most of those laws were repealed and now you are seeing the results.
Sadly, per Brooding Issue #1 in my previous post, I see massive bank failures ahead.
It appears that the giant private equity firms (who bought real estate at the top of the market) will fall and come crashing down crushing all the little people underneath. (Just like in Florida in 1929).
Currency Collapse May Be Eminent
If we are lucky, we will experience an orderly currency collapse. However, two smart guys named Bill Gates and Warren Buffet fear a disorderly fall of U.S. dollar, which will turn the Great Depression into a discussion about happier times.
… つづく
Posted in bank failures, brooding, credit crisis, economy, food shortage, from dual, great depression, hkma, hyperinflation, shortage | 3 Comments »
Friday, December 21st, 2007
Brooding about the following thoughts:
- The U.S. banks no longer trust each other.
- 500 Billion dollar loan from Europe doesn’t scratch the surface of what the banks really need.
- People are not ready for worldwide shortages of food and supplies.
- Hyperinflation is rampant, as the cost of driving is approaching THREE loaves of bread per gallon.
- The currency markets are about to experience the greatest shock since the Great Depression.
- There is almost no liquidity in the market.
- HKMA continues to oversell Hong Kong Dollars to defend the peg with the U.S. Dollar.
- The credit derivatives market is filled with analysts who do not know how to use a ledger
- Upper management of Fortune 500 companies is packed with individuals who never experienced sacrifice, let alone even read about the Great Depression, its causes or its aftermath.
- Insurance companies are worried about widespread arson; they announced this “concern” as a “risk management tactic”.
- Hypothecating property in business will no longer be accepted.
- Charitable foundations may fold without inflation hedges firmly in place
- The currency will change overnight and will catch world markets by surprise
- Gold will reach insane historical highs only to be stalled by the fact that you can’t eat gold
- Sections of the Internet may collapse due to lack of funding for infrastructure (power and water), in which case, Gopher and Archie may become popular again.
All these figments of my imagination. right?
…
EDIT: Probably. It’s just a bad dream.
I’ll wake up soon. I’m not worried at all. No, really.
Posted in bank failures, brooding, credit crisis, economy, food shortage, from dual, gasoline, great depression, hkma, hyperinflation, inflation, loaves of bread per gallon, shortage | 4 Comments »
