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#11761 scepticus

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Posted 10 May 2012 - 10:17 PM

time to dust off the nirp thread sceppie....

http://ftalphaville....the-helicopter/


I've read that post now. Good stuff by Buiter.

However its inadmissable for the nirp thread since that thread is for relating actual major tests of the ZLB by the financial markets and/or clear evidence of policy shifts in the direction of softening the stance towards NNR, as opposed to policy suggestions.

Anyway, thanks for the heads up.

#11762 hotairmail

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Posted 11 May 2012 - 08:21 AM

No probs.



Just browsing down the threads on this forum...and most are 'Black Day' threads.


London to Brighton:




Edited by No Future, 11 May 2012 - 08:22 AM.

"The chicken is radiating disorder out into the wider universe."


#11763 hotairmail

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Posted 11 May 2012 - 09:21 AM

simon johnson



http://economix.blog...four-big-banks/

"The chicken is radiating disorder out into the wider universe."


#11764 hotairmail

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Posted 11 May 2012 - 09:37 AM

Can I just say this chap is really clever. Both he and Tata play the game of manufacturing 'locally' in different jurisdictions. I presume to reduce political risk, but also to play the upside of any local political moves and purchasing. This model is far in advance of the Chinese and the Germans play which is subject to huge risks...


http://www.ft.com/cm...t#axzz1uXkGX87B



Mittal urges ‘buy European’ programme

Lakshmi Mittal has called on European political leaders to back a “buy European” industrial programme as part of an effort to boost the continent’s economy, as an alternative to austerity measures which he said were “not working”.


"The chicken is radiating disorder out into the wider universe."


#11765 R K

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Posted 11 May 2012 - 09:58 AM

Can I just say this chap is really clever. Both he and Tata play the game of manufacturing 'locally' in different jurisdictions. I presume to reduce political risk, but also to play the upside of any local political moves and purchasing. This model is far in advance of the Chinese and the Germans play which is subject to huge risks...


http://www.ft.com/cm...t#axzz1uXkGX87B



Mittal urges 'buy European' programme



Simple protectionism following Hollande victory.

You could probablty also put it in the strategic India v China 'cold war' box.

Fits well with the developing theme.


"The problem with capitalism is that eventually you end up with everyone else's money" RK
"We have now entered The Great Rebalancing 2007-20xx" - RK
"Gold will go to $1000, Silver to $18" - RK August 2011
QE £100bn and build 1m council homes - RK
Carney announces the launch of Empire 2.0 - Rise of the Banksters Oct '13


#11766 R K

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Posted 11 May 2012 - 12:19 PM

2nd FT video interview in 2 days with a Goldman's strategist. It's like buses............


http://video.ft.com/...umpy-road-ahead


It's the US stupid!


"The problem with capitalism is that eventually you end up with everyone else's money" RK
"We have now entered The Great Rebalancing 2007-20xx" - RK
"Gold will go to $1000, Silver to $18" - RK August 2011
QE £100bn and build 1m council homes - RK
Carney announces the launch of Empire 2.0 - Rise of the Banksters Oct '13


#11767 R K

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Posted 11 May 2012 - 12:23 PM

Capital controls, protectionism and trade wars


http://blogs.ft.com/...apital-inflows/


"The problem with capitalism is that eventually you end up with everyone else's money" RK
"We have now entered The Great Rebalancing 2007-20xx" - RK
"Gold will go to $1000, Silver to $18" - RK August 2011
QE £100bn and build 1m council homes - RK
Carney announces the launch of Empire 2.0 - Rise of the Banksters Oct '13


#11768 R K

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Posted 11 May 2012 - 01:46 PM



http://yanisvaroufak...sis-circa-1995/

Germany's strategic plan to maintain accumulating capital via trade imbalances via the Euro and why they won't give that up

The first step was the European Exchange Rate Mechanism, ERM, or European Monetary System, the EMS. Its primary purpose, from the Bundesbank’s perspective, was to secure Germany’s capacity to maintain its competitiveness in the face of the dollar’s wild fluctuations through internally coordinated restructuring and free of the fear that France’s and Italy’s competitive devaluations will undercut these efforts. In short, the Bundesbank’s plan was simple: a fixed exchange rate mechanism would help restore the RoE’s incapacity to keep financing German accumulation.

The problem was that speculators, with George Soros the better known amongst them, could see that the currency pegs of the ERM/EMS were unsustainable given the pressures on the balance of payments of Germany’s European partners. So they bet massively against it, until the EMS broke down. At that point the Bundesbank understood that nothing short of a currency union will allow it to see its grand plan through. It was a gamble. And it came with a sizeable psychological cost, given the voluntary abandonment of the DM. But it was deemed essential given the greater ‘good’ to be had from turning the RoE into the economic zone onto which Germany’s shifted the burden of its adjustment, thus allowing German oligopolistic multinationals to maintain ad infinitum their net exports (of goods and production units) to the rest of the world.


Athens stock market back down to 1990 levels.

Spain's stockmarket flirting with '97/02 levels.






"The problem with capitalism is that eventually you end up with everyone else's money" RK
"We have now entered The Great Rebalancing 2007-20xx" - RK
"Gold will go to $1000, Silver to $18" - RK August 2011
QE £100bn and build 1m council homes - RK
Carney announces the launch of Empire 2.0 - Rise of the Banksters Oct '13


#11769 hotairmail

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Posted 11 May 2012 - 02:54 PM



http://yanisvaroufak...sis-circa-1995/

Germany's strategic plan to maintain accumulating capital via trade imbalances via the Euro and why they won't give that up



Athens stock market back down to 1990 levels.

Spain's stockmarket flirting with '97/02 levels.




I don't think it was a German master plan. Indeed I think it was a French quid pro quo for reunification of Germany. The French even managed to con the Germans into going in at too strong a Mark fooling them with the 'well you like a strong Mark don't you?'.

Initially the French plan worked and they thought they had cemented in a competitive position forever and their industry boomed. However, step by step, the Germans reeled them in and now there's no stopping them.

"The chicken is radiating disorder out into the wider universe."


#11770 R K

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Posted 11 May 2012 - 03:11 PM

I don't think it was a German master plan. Indeed I think it was a French quid pro quo for reunification of Germany. The French even managed to con the Germans into going in at too strong a Mark fooling them with the 'well you like a strong Mark don't you?'.

Initially the French plan worked and they thought they had cemented in a competitive position forever and their industry boomed. However, step by step, the Germans reeled them in and now there's no stopping them.


That's the point of 'fixing' the rate via the euro though.

Even now Schauble is talking about considering the possibility of a 'corridor' of inflation only in the 2-3% range for Germany.

They'll continue to outcompete anyone in a fixed currency with them though, that's their strategic plan.

French cannot compete with them, nor can anyone else.

Ultimately then Germany (as creditor) will have to decide whether to exit or to finance their surpluses on an ongoing basis. The 'recycling' plan appears to have reached its natural end point, so now they can either inflate, or make ongoing transfer payments, neither of which they seem willing to do for the sake of 'europe'. Their self-interest will out in the end. I really cannot see any other conclusion. They're not europeans - they're Germans. It's fall apart.


"The problem with capitalism is that eventually you end up with everyone else's money" RK
"We have now entered The Great Rebalancing 2007-20xx" - RK
"Gold will go to $1000, Silver to $18" - RK August 2011
QE £100bn and build 1m council homes - RK
Carney announces the launch of Empire 2.0 - Rise of the Banksters Oct '13


#11771 hotairmail

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Posted 11 May 2012 - 06:15 PM

Have a good weekend.


(before my time you understand)


"The chicken is radiating disorder out into the wider universe."


#11772 Georgia O'Keeffe

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Posted 11 May 2012 - 06:23 PM

Have a good weekend.


http://www.youtube.com/watch?v=BQ-jspv-Qok

http://www.youtube.com/watch?v=O-0G63O2N-Q&feature=related&showinfo=0

(before my time you understand)

anyway its nearly 30 degrees here so another opportunity to perfect the fondue based barbecue before patent

arrivederci

Edited by Georgia O'Keeffe, 11 May 2012 - 06:30 PM.


#11773 Democorruptcy

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Posted 12 May 2012 - 12:11 PM

Wolf - The journey towards becoming Japan

http://blogs.ft.com/...becoming-japan/

Democorruptcy
If you say "Democorruptcy" quickly, it sounds a bit like "Democracy". In a "Democracy" people vote for politicians who represent their interests. In the UK's "Democorruptcy" people can only vote for expense fiddling thieving MPs who are in the hip pocket of big business and the finance sector.

Governbankment
A "Governbankment" is a Government that has no line between itself and banks. It diverts public money (our taxes) to private companies (banks). George Osborne's Help to Buy Bail Banks, will see our taxes go to bankers to cover their losses on mortgages that default. The UK's Governbankment will even pay bankers "reasonable repossession fees" on Help to Bail Bank mortgages that default.

The Funding for Lending Scheme (FLS) is stealing from savers to make them pay for crimes by bankers. Via lower interest on savings, all the bank fines for PPI, LIBOR, interest rates swaps, etc. are being paid by savers so that bankers can keep pocketing bonuses. 

"We need to make a really big change: from an economy built on debt to an economy built on savings" - David Camoron Jan 2009
"Printing money is the last resort of desperate governments when all other policies have failed" - George Osborne Jan 2009
- So what do Camoron & Osborne do? Print money and leave interest rates at 0.5% when inflation is over 5%

If it is asserted that civilization is a real advance in the condition of man -- and I think that it is, though only the wise improve their advantages -- it must be shown that it has produced better dwellings without making them more costly; and the cost of a thing is the amount of what I will call life which is required to be exchanged for it, immediately or in the long run.
http://classiclit.ab...en-Part-2_4.htm

I want to tell you my secret now.... I see debt people


#11774 hotairmail

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Posted 12 May 2012 - 01:34 PM

Wolf - The journey towards becoming Japan

http://blogs.ft.com/...becoming-japan/




I thought that was weak. It looked like he needed to write an article. I find Wolf frustrating. He is obviously very bright but too often his mind goes lazy and he doesn't delve like he should - nor is he proactive like a Keynes would be. I also feel he thinks he is casting his pearls before swine. Oink.

"The chicken is radiating disorder out into the wider universe."


#11775 R K

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Posted 13 May 2012 - 11:08 AM

Cycle check (tyres, brakes, chain etc etc)

http://www.financial...lin/cycle-check


"The problem with capitalism is that eventually you end up with everyone else's money" RK
"We have now entered The Great Rebalancing 2007-20xx" - RK
"Gold will go to $1000, Silver to $18" - RK August 2011
QE £100bn and build 1m council homes - RK
Carney announces the launch of Empire 2.0 - Rise of the Banksters Oct '13





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