Financial Crisis

[yoshiwara]

More for those who think nothing has changed:

ETFs close in record numbers despite boom

Moves by regulators to crack down on more esoteric fund structures to protect investors have resulted in a decline in new funding

http://link.ft.com/r/ZE9K33/XBKL5U/8ARBAB/Z8HZ2M/20FQ34/OS/h?a1=2013&a2=7&a3=9

Are you suggesting that funds withdrawn from ETFs are not going elsewhere?

[yoshiwara]

Does this post refer to the upcoming financial crisis?

The reference to financial crisis normally refers to the fallout from the events of 2007-2009. Argument revolves around issues of potential recovery versus relapse. The conceit of the contribution re natural resources is that it assumes the holding of such trumps financial crisis considerations, which it doesn't.

Who said it had to do with 2007-2009? I think the Eurozone's is still coming. Same for the UK. The US has crashed and has a chance to claw back. The Eurozone won't accept its crash, pick itself up and start over.

Forget natural resources if you don't want to consider that kind of wealth. US companies are making lots of money from technology. I'm referring first to personal technology - that which is in your pocket, on your desk and so on. I mean everything from the internet to huge websites like Google to all operating systems, most software, wireless, Intel, routers, cell phones and smartphones -

The Eurozone has nothing like that to fall back on. With the exception of Germany they are manufacturing things for other people just as China is. They are also suffering from immigration which comes with entitlements.

Let's just sit back and watch and see who has the strongest economic engine.

I said (please do try to keep up) that natural resources is not a trump card otherwise we would all be clambering aboard the Russia story. As for your 'if it wasn't for Germany...' Europe write-off blah just typical of your off-piste junk. And as for immigration.. Hello! USA was built on immigration. On this topic at least your dirty knickers are showing.

[midas]

1) how is 400 billion a year, on top of the however many trillion already accumulated, considered to be sustainable? Especially if there were an end to QE and a rise of interest rates; surely even at today's level its totally unsustainable and only just afforded by that printing/ own debt support/ manipulation.

The US has the world's most diversified and technologically advanced economy. It is also huge, containing many available natural resources.

I have posted over and over, with links, that the US has more oil than all of the rest of the world combined and is increasing its oil production by 20% this year. By 2017 it will be oil independent and after that a net exporter. It is possible that the US actually has 3x as much oil as all of the rest of the world combined because the announced figures don't account for the 88,000 miles of salt water shoreline where there is known to be oil, nor does it include Alaska where there is known to be oil.

Almost all of this oil belongs to the US government. The US government owns 40% of all of the land from the Rocky Mountains West, 80% of the state of Utah, and a significant part of the rest of the country including Alaska. It also owns all of the off shore oil.

By the end of this decade the US will pass Saudi Arabia as the world's #1 producer of oil.

The US has vast mineral resources. It has 100 years worth of natural gas already drilled and tapped. It has huge tracts of timber.

Look around your room and in your pockets. Almost everything technological was invented in the US and US corporations profit from it.

Before you talk only about someone's debts, talk also about his assets and then comment on his balance sheet and his net worth.

My money is on the US.

one in five US households on food stamps, 54 straight months with unemployment more than 7.5%, (or actually 14.3% if you are honest about the numbers)

[yoshiwara]

1) how is 400 billion a year, on top of the however many trillion already accumulated, considered to be sustainable? Especially if there were an end to QE and a rise of interest rates; surely even at today's level its totally unsustainable and only just afforded by that printing/ own debt support/ manipulation.

The US has the world's most diversified and technologically advanced economy. It is also huge, containing many available natural resources.

I have posted over and over, with links, that the US has more oil than all of the rest of the world combined and is increasing its oil production by 20% this year. By 2017 it will be oil independent and after that a net exporter. It is possible that the US actually has 3x as much oil as all of the rest of the world combined because the announced figures don't account for the 88,000 miles of salt water shoreline where there is known to be oil, nor does it include Alaska where there is known to be oil.

Almost all of this oil belongs to the US government. The US government owns 40% of all of the land from the Rocky Mountains West, 80% of the state of Utah, and a significant part of the rest of the country including Alaska. It also owns all of the off shore oil.

By the end of this decade the US will pass Saudi Arabia as the world's #1 producer of oil.

The US has vast mineral resources. It has 100 years worth of natural gas already drilled and tapped. It has huge tracts of timber.

Look around your room and in your pockets. Almost everything technological was invented in the US and US corporations profit from it.

Before you talk only about someone's debts, talk also about his assets and then comment on his balance sheet and his net worth.

My money is on the US.

one in five US households on food stamps, 54 straight months with unemployment more than 7.5%, (or actually 14.3% if you are honest about the numbers)

Both of you try to present black/white pictures and repeatedly end up in caricature.

[ajarnpot]

I see so we are still talking about what happened 4 years ago or so. Just wanted to make sure. So we are living in the past discussing recession etc.

Was the previous recession avoidable? or was it only delayable? if only delayable perhaps the answer is to try reverse psychology on the markets and try to force a recession

I guess this would mean developing a fiscal tranquiliser, something like liagactal for the economy?

[yoshiwara]

I see so we are still talking about what happened 4 years ago or so. Just wanted to make sure. So we are living in the past discussing recession etc.

Was the previous recession avoidable? or was it only delayable? if only delayable perhaps the answer is to try reverse psychology on the markets and try to force a recession

I guess this would mean developing a fiscal tranquiliser, something like liagactal for the economy?

Loose translation: 'I guess....' = empty bubbles.

[midas]

“Fed will never take away the accommodation, because the central bank cannot let markets “tighten,” which is a euphemism for go down.”

Peter Schiff and Marc Faber have repeatedly emphasised this over many months and yet they are ridiculed because the sheeple prefer to believe an incompetent buffoon and compulsive liar

http://www.zerohedge.com/news/2013-07-10/what-bernanke-really-said-or-how-chairman-just-lost-control-over-policy-again

[yoshiwara]

“Fed will never take away the accommodation, because the central bank cannot let markets “tighten,” which is a euphemism for go down.”

Peter Schiff and Marc Faber have repeatedly emphasised this over many months and yet they are ridiculed because the sheeple prefer to believe an incompetent buffoon and compulsive liar

http://www.zerohedge.com/news/2013-07-10/what-bernanke-really-said-or-how-chairman-just-lost-control-over-policy-again

Yes, they have repeatedly emphasised that buying gold all the way down from $1920 was a good idea. Plus at least one incompetent buffoon on this thread.

[NeverSure]

I cry foul, this crisis started some six years ago in the US with sub-prime and US banks that were overstreched/insolvent, subequently the effect of that has rippled out around the planet and is now hitting China as a consequence. The US has had that many years to regroup and is now possibly, I'll say that again, possibly, in the early stages of recovery, it's wholly unfair to expect all the other countries on the planet to adhere to a similar timeline or to compare relative economic strengths on the basis of where the US might be currently.

Are you suggesting that the crisis in the Eurozone, especially the PIIGS was caused by sub prime loans by US banks? Are you suggesting that massive budget deficits among the PIIGS were created by the US?

[chiang mai]

I cry foul, this crisis started some six years ago in the US with sub-prime and US banks that were overstreched/insolvent, subequently the effect of that has rippled out around the planet and is now hitting China as a consequence. The US has had that many years to regroup and is now possibly, I'll say that again, possibly, in the early stages of recovery, it's wholly unfair to expect all the other countries on the planet to adhere to a similar timeline or to compare relative economic strengths on the basis of where the US might be currently.

Are you suggesting that the crisis in the Eurozone, especially the PIIGS was caused by sub prime loans by US banks? Are you suggesting that massive budget deficits among the PIIGS were created by the US?

Not talking about soveriegn debt but about packaged derivatives, sub-prime, capital adequacy and fractional lending - yes, it started in the US with BNP Paribas exit from the US derivatives market, the global ripple effect of which went global over time.

http://www.guardian.co.uk/business/2011/aug/07/global-financial-crisis-key-stages

[churchill]

From Martin Armstrong ( not Lance , I think there is only 1 idiot who is confused ...... Martin Cycles , Lance Bicycles )

2016 – the Coming Event Horizon

http://armstrongeconomics.com/2013/07/10/2016-the-coming-event-horizon/

[yoshiwara]

From Martin Armstrong ( not Lance , I think there is only 1 idiot who is confused ...... )

2016 – the Coming Event Horizon

http://armstrongeconomics.com/2013/07/10/2016-the-coming-event-horizon/

Talking of idiots, marvel at the gibberish penned by good old Martin:

'If we add 72 years to the Mississippi and South Sea Bubbles of 1720, we arrive at 1792 (1720 + 72), which was also the first Panic in the United States real estate market. Now add 224 years to that and we come to a Event Horizon in 2016. Now take gold which appears headed like a magnet moving into two 8.6 year cycles back-to-back from the 1999 low (17.2 years), which also brings us to 2016. Add 26 years to the Japan Bubble Top 1989.95 and we also arrive at 2016. Add 31.4 years to 1985, which was the birth of the G5 (Plaza Accord) organized attempt to manipulate the world currency markets and we also arrive at 2016.'

[Naam]

From Martin Armstrong ( not Lance , I think there is only 1 idiot who is confused ...... )

2016 – the Coming Event Horizon

http://armstrongeconomics.com/2013/07/10/2016-the-coming-event-horizon/

Talking of idiots, marvel at the gibberish penned by good old Martin:

'If we add 72 years to the Mississippi and South Sea Bubbles of 1720, we arrive at 1792 (1720 + 72), which was also the first Panic in the United States real estate market. Now add 224 years to that and we come to a Event Horizon in 2016. Now take gold which appears headed like a magnet moving into two 8.6 year cycles back-to-back from the 1999 low (17.2 years), which also brings us to 2016. Add 26 years to the Japan Bubble Top 1989.95 and we also arrive at 2016. Add 31.4 years to 1985, which was the birth of the G5 (Plaza Accord) organized attempt to manipulate the world currency markets and we also arrive at 2016.'

what's wrong with these logical conclusions? more evidence:

-deduct the square root of Event Horizon, add 3 table spoons of phrik nam pla and you arrive at 2016,

-measure the tail of your pet crocodile, calculate the pounds per square inch, convert into metric kilojoules per newtonmeter and you arrive at 2016.

many more examples exist!

[mccw]

So it seems today old Shalom has wiggled a bit more and said interest rates will not be allowed to rise in the for see able future due to prevailing bla bla bla. But asset purchases may taper-but interest rates will not rise. How can interest rates be kept down with out the asset purchases he did not explain haha

On this news oil has broken out of its trading range and is over 106 a barrel.

Will be interesting to see how the rest goes. Stocks up, gold sideways, EM currencies back up and dollar weakening.

Until the next false bit of sly double speak (without action) from fed comes to try and keep it all from getting too carried away.

Oil will be the most interesting one; if it gets too hot it can screw up all the best laid plans.

[yoshiwara]

So it seems today old Shalom has wiggled a bit more and said interest rates will not be allowed to rise in the for see able future due to prevailing bla bla bla. But asset purchases may taper-but interest rates will not rise. How can interest rates be kept down with out the asset purchases he did not explain haha

On this news oil has broken out of its trading range and is over 106 a barrel.

Will be interesting to see how the rest goes. Stocks up, gold sideways, EM currencies back up and dollar weakening.

Until the next false bit of sly double speak (without action) from fed comes to try and keep it all from getting too carried away.

Oil will be the most interesting one; if it gets too hot it can screw up all the best laid plans.

Bernanke understands the situation better than you ever will so save us from your snide name calling. (If you want to make thinly disguised anti-Semitic digs please take them elsewhere)

[NeverSure]

So it seems today old Shalom has wiggled a bit more and said interest rates will not be allowed to rise in the for see able future due to prevailing bla bla bla. But asset purchases may taper-but interest rates will not rise. How can interest rates be kept down with out the asset purchases he did not explain haha

On this news oil has broken out of its trading range and is over 106 a barrel.

Will be interesting to see how the rest goes. Stocks up, gold sideways, EM currencies back up and dollar weakening.

Until the next false bit of sly double speak (without action) from fed comes to try and keep it all from getting too carried away.

Oil will be the most interesting one; if it gets too hot it can screw up all the best laid plans.

Where do you get your ideas?

U.S. Government Posts Surplus in June

Published July 11, 2013

Reuters

"The U.S. government posted a budget surplus in June, the latest sign of rapidly improving public finances that could reduce the urgency in Congress to strike a deal to raise the nation's limit on borrowing.

Rising tax revenues, public spending cuts and big payments to the Treasury from state-backed mortgage firms helped the government take in $117 billion more last month than it paid out, the U.S. Treasury said on Thursday.

Analysts polled by Reuters had expected a smaller surplus of $39.5 billion.

June's surplus was the largest for that month on record.

An improving economy and tax hikes enacted earlier in the year led government receipts to rise to $287 billion, up 10 percent from a year earlier."

More

I have been trying to tell about the US economic engine, the wealth of corporations, the advancement and ownership in tech and the resources of the US but few will listen.

The US will pull away from the also-rans as the Eurozone, the UK, and Asia find their lack of technology and resources dragging them down.

It will take time, but the big engine is in the US.

[chiang mai]

I cry foul, this crisis started some six years ago in the US with sub-prime and US banks that were overstreched/insolvent, subequently the effect of that has rippled out around the planet and is now hitting China as a consequence. The US has had that many years to regroup and is now possibly, I'll say that again, possibly, in the early stages of recovery, it's wholly unfair to expect all the other countries on the planet to adhere to a similar timeline or to compare relative economic strengths on the basis of where the US might be currently.

Are you suggesting that the crisis in the Eurozone, especially the PIIGS was caused by sub prime loans by US banks? Are you suggesting that massive budget deficits among the PIIGS were created by the US?

Not talking about soveriegn debt but about packaged derivatives, sub-prime, capital adequacy and fractional lending - yes, it started in the US with BNP Paribas exit from the US derivatives market, the global ripple effect of which went global over time.

http://www.guardian.co.uk/business/2011/aug/07/global-financial-crisis-key-stages

Actually we can add soveriegn debt to this can't we hence the answer to your questions is yes and yes, but you'd have to read para's 5,6,& 7 of the above link to understand that!

[NeverSure]

I cry foul, this crisis started some six years ago in the US with sub-prime and US banks that were overstreched/insolvent, subequently the effect of that has rippled out around the planet and is now hitting China as a consequence. The US has had that many years to regroup and is now possibly, I'll say that again, possibly, in the early stages of recovery, it's wholly unfair to expect all the other countries on the planet to adhere to a similar timeline or to compare relative economic strengths on the basis of where the US might be currently.

Are you suggesting that the crisis in the Eurozone, especially the PIIGS was caused by sub prime loans by US banks? Are you suggesting that massive budget deficits among the PIIGS were created by the US?

Not talking about soveriegn debt but about packaged derivatives, sub-prime, capital adequacy and fractional lending - yes, it started in the US with BNP Paribas exit from the US derivatives market, the global ripple effect of which went global over time.

http://www.guardian.co.uk/business/2011/aug/07/global-financial-crisis-key-stages

Actually we can add soveriegn debt to this can't we hence the answer to your questions is yes and yes, but you'd have to read para's 5,6,& 7 of the above link to understand that!

Unless I'm reading it wrong, your link is two years old and is written by the (urp) UK Guardian which never gets it right.

[chiang mai]

Not talking about soveriegn debt but about packaged derivatives, sub-prime, capital adequacy and fractional lending - yes, it started in the US with BNP Paribas exit from the US derivatives market, the global ripple effect of which went global over time.

http://www.guardian.co.uk/business/2011/aug/07/global-financial-crisis-key-stages

Actually we can add soveriegn debt to this can't we hence the answer to your questions is yes and yes, but you'd have to read para's 5,6,& 7 of the above link to understand that!

Unless I'm reading it wrong, your link is two years old and is written by the (urp) UK Guardian which never gets it right.

Not too much has changed by way of the basics in that time and anyway, the issue is, where did all of this start, it looks pretty accurate to me. Derivates misold on Wall Street so banks fail, lending stops, more banks begin to fail, governements intervene and have to lend to/nationalise banks and become overly indebted in the process, global business suffers downturn so tax reciepts suffer, more soveriegn indebtedness - easy, blame it all on the bank examiners who allowed the bundled derivatives to be sold/purchased in the first place, next.

[chiang mai]

A wonderful piece from the FT this morning that I couldn't help but share:

"As Field Marshal Haig said of the initial phases of the battle of the Somme: 'Very successful attack this morning... All went like clockwork... The battle is going very well for us and already the Germans are surrendering freely. The enemy is so short of men that he is collecting them from all parts of the line. Our troops are in wonderful spirits and full of confidence.'"
By Copito on BoJ says Japanese economy is ‘recovering’

[yoshiwara]

Unless I'm reading it wrong, your link is two years old and is written by the (urp) UK Guardian which never gets it right.

Not too much has changed by way of the basics in that time and anyway, the issue is, where did all of this start, it looks pretty accurate to me. Derivates misold on Wall Street so banks fail, lending stops, more banks begin to fail, governements intervene and have to lend to/nationalise banks and become overly indebted in the process, global business suffers downturn so tax reciepts suffer, more soveriegn indebtedness - easy, blame it all on the bank examiners who allowed the bundled derivatives to be sold/purchased in the first place, next.

There is a mis-placed but understandable desire to look for original sin in placing the blame for the financial crisis on one or other of the participating actors/institutions involved in the blow-up. That pinning of the blame (the silver bullet) has become a political football and substitute for the necessary restructuring to respond to the situation countries find themselves in. Rather than searching for the source of the Nile (hey, I've found it!) the reality was more akin to that of a Perfect Storm, several factors coming together at one time.

[yoshiwara]

A wonderful piece from the FT this morning that I couldn't help but share:

"As Field Marshal Haig said of the initial phases of the battle of the Somme: 'Very successful attack this morning... All went like clockwork... The battle is going very well for us and already the Germans are surrendering freely. The enemy is so short of men that he is collecting them from all parts of the line. Our troops are in wonderful spirits and full of confidence.'"

By Copito on BoJ says Japanese economy is ‘recovering’

I do like historical analogies, but I really do have some difficulty connecting the Battle of the Somme with the Japanese economy. PS I have visited the WW1 site at Arras and would recommend anyone to take the opportunity to visit one of the WW1 historical battlefields

[mccw]

When the "surplass" 100bl is from state backed financial firms it is akin to the UK government buying thier own bonds and "profiting" from the interest returned to themselves. 100 bl fron how many trillions? However much is is it is just accoubting tricks fall from newly created givernment money.

So it seems today old Shalom has wiggled a bit more and said interest rates will not be allowed to rise in the for see able future due to prevailing bla bla bla. But asset purchases may taper-but interest rates will not rise. How can interest rates be kept down with out the asset purchases he did not explain haha

On this news oil has broken out of its trading range and is over 106 a barrel.

Will be interesting to see how the rest goes. Stocks up, gold sideways, EM currencies back up and dollar weakening.

Until the next false bit of sly double speak (without action) from fed comes to try and keep it all from getting too carried away.

Oil will be the most interesting one; if it gets too hot it can screw up all the best laid plans.

Where do you get your ideas?

U.S. Government Posts Surplus in June

Published July 11, 2013

Reuters

"The U.S. government posted a budget surplus in June, the latest sign of rapidly improving public finances that could reduce the urgency in Congress to strike a deal to raise the nation's limit on borrowing.

Rising tax revenues, public spending cuts and big payments to the Treasury from state-backed mortgage firms helped the government take in $117 billion more last month than it paid out, the U.S. Treasury said on Thursday.

Analysts polled by Reuters had expected a smaller surplus of $39.5 billion.

June's surplus was the largest for that month on record.

An improving economy and tax hikes enacted earlier in the year led government receipts to rise to $287 billion, up 10 percent from a year earlier."

More

I have been trying to tell about the US economic engine, the wealth of corporations, the advancement and ownership in tech and the resources of the US but few will listen.

The US will pull away from the also-rans as the Eurozone, the UK, and Asia find their lack of technology and resources dragging them down.

It will take time, but the big engine is in the US.

[mccw]

stamp="133over557385"]So it seems today old Shalom has wiggled a bit more and said interest rates will not be allowed to rise in the for see able future due to prevailing bla bla bla. But asset purchases may taper-but interest rates will not rise. How can interest rates be kept down with out the asset purchases he did not explain hahaOn this news oil has broken out of its trading range and is over 106 a barrel.Will be interesting to see how the rest goes. Stocks up, gold sideways, EM currencies back up and dollar weakening.Until the next false bit of sly double speak (without action) from fed comes to try and keep it all from getting too carried away.Oil will be the most interesting one; if it gets too hot it can screw up all the best laid plans.Bernanke understands the situation better than you ever will so save us from your snide name calling. (If you want to make thinly disguised anti-Semitic digs please take them elsewhere)

Shalom is his name is it not?

Why would speaking his name be antisemitic?

Please; I thought everybody knew its those zorastrians that possess the old majic of secrets for the influencel over humanity.

Joking aside. There is good and bad in all dogmatic religions. Choice of a light or dark path is always down to the individual

Get off your high horse

The Jews have a history as bankers wich is undeniable; if you want to debate the merit of the system created and for whose interests it serves and the course historical events have taken based on these powers then go ahead free from predudic. I'm interested in it accedemicly, not as a jew bsshing ecercise

[midas]

So it seems today old Shalom has wiggled a bit more and said interest rates will not be allowed to rise in the for see able future due to prevailing bla bla bla. But asset purchases may taper-but interest rates will not rise. How can interest rates be kept down with out the asset purchases he did not explain haha

On this news oil has broken out of its trading range and is over 106 a barrel.

Will be interesting to see how the rest goes. Stocks up, gold sideways, EM currencies back up and dollar weakening.

Until the next false bit of sly double speak (without action) from fed comes to try and keep it all from getting too carried away.

Oil will be the most interesting one; if it gets too hot it can screw up all the best laid plans.

Where do you get your ideas?

U.S. Government Posts Surplus in June

Published July 11, 2013

Reuters

"The U.S. government posted a budget surplus in June, the latest sign of rapidly improving public finances that could reduce the urgency in Congress to strike a deal to raise the nation's limit on borrowing.

Rising tax revenues, public spending cuts and big payments to the Treasury from state-backed mortgage firms helped the government take in $117 billion more last month than it paid out, the U.S. Treasury said on Thursday.

Analysts polled by Reuters had expected a smaller surplus of $39.5 billion.

June's surplus was the largest for that month on record.

An improving economy and tax hikes enacted earlier in the year led government receipts to rise to $287 billion, up 10 percent from a year earlier."

More

I have been trying to tell about the US economic engine, the wealth of corporations, the advancement and ownership in tech and the resources of the US but few will listen.

The US will pull away from the also-rans as the Eurozone, the UK, and Asia find their lack of technology and resources dragging them down.

It will take time, but the big engine is in the US.

I have been trying to tell about the US economic engine, the wealth of corporations, the advancement and ownership in tech and the resources of the US but few will listen.

Could it be that few listen because few believe?

Why should anyone believe anything from a government that lies about everything under the sun, ( eventhe way the unemployment statistics are compiled) and lies not just about economic issues.

[yoshiwara]

Shalom is his name is it not?

Why would speaking his name be antisemitic?

Please; I thought everybody knew its those zorastrians that possess the old majic of secrets for the influencel over humanity.

Joking aside. There is good and bad in all dogmatic religions. Choice of a light or dark path is always down to the individual

Get off your high horse

The Jews have a history as bankers wich is undeniable; if you want to debate the merit of the system created and for whose interests it serves and the course historical events have taken based on these powers then go ahead free from predudic. I'm interested in it accedemicly, not as a jew bsshing ecercise

Stop wriggling. His name is Bernanke. I suggest that if you are in a hole stop digging.

[chiang mai]

Unless I'm reading it wrong, your link is two years old and is written by the (urp) UK Guardian which never gets it right.

Not too much has changed by way of the basics in that time and anyway, the issue is, where did all of this start, it looks pretty accurate to me. Derivates misold on Wall Street so banks fail, lending stops, more banks begin to fail, governements intervene and have to lend to/nationalise banks and become overly indebted in the process, global business suffers downturn so tax reciepts suffer, more soveriegn indebtedness - easy, blame it all on the bank examiners who allowed the bundled derivatives to be sold/purchased in the first place, next.

There is a mis-placed but understandable desire to look for original sin in placing the blame for the financial crisis on one or other of the participating actors/institutions involved in the blow-up. That pinning of the blame (the silver bullet) has become a political football and substitute for the necessary restructuring to respond to the situation countries find themselves in. Rather than searching for the source of the Nile (hey, I've found it!) the reality was more akin to that of a Perfect Storm, several factors coming together at one time.

This was not an attempt to pin blame or look for original sin, instead it was a push back against Neversure's earlier post where he trumpeted the power of the US economy and the associated industrial machine and denegraded the eastern countries. My point is that there is a timiming issue, what starts in the West and finishes in the East by virtue of the ripple effect will mean that the West will start to recover first.

[chiang mai]

A wonderful piece from the FT this morning that I couldn't help but share:

"As Field Marshal Haig said of the initial phases of the battle of the Somme: 'Very successful attack this morning... All went like clockwork... The battle is going very well for us and already the Germans are surrendering freely. The enemy is so short of men that he is collecting them from all parts of the line. Our troops are in wonderful spirits and full of confidence.'"

By Copito on BoJ says Japanese economy is ‘recovering’

I do like historical analogies, but I really do have some difficulty connecting the Battle of the Somme with the Japanese economy. PS I have visited the WW1 site at Arras and would recommend anyone to take the opportunity to visit one of the WW1 historical battlefields

I think it has something to do with the message that's being delivered is not the most accurate.

[yoshiwara]

A wonderful piece from the FT this morning that I couldn't help but share:

"As Field Marshal Haig said of the initial phases of the battle of the Somme: 'Very successful attack this morning... All went like clockwork... The battle is going very well for us and already the Germans are surrendering freely. The enemy is so short of men that he is collecting them from all parts of the line. Our troops are in wonderful spirits and full of confidence.'"

By Copito on BoJ says Japanese economy is ‘recovering’

I do like historical analogies, but I really do have some difficulty connecting the Battle of the Somme with the Japanese economy. PS I have visited the WW1 site at Arras and would recommend anyone to take the opportunity to visit one of the WW1 historical battlefields

I think it has something to do with the message that's being delivered is not the most accurate.

There were 2 things I noticed from a visit to the trenches. First was that the German trenches were better built and second how close the opposing trench lines were to each other.

[midas]

Shalom is his name is it not?

Why would speaking his name be antisemitic?

Please; I thought everybody knew its those zorastrians that possess the old majic of secrets for the influencel over humanity.

Joking aside. There is good and bad in all dogmatic religions. Choice of a light or dark path is always down to the individual

Get off your high horse

The Jews have a history as bankers wich is undeniable; if you want to debate the merit of the system created and for whose interests it serves and the course historical events have taken based on these powers then go ahead free from predudic. I'm interested in it accedemicly, not as a jew bsshing ecercise

Stop wriggling. His name is Bernanke. I suggest that if you are in a hole stop digging.

" Why would speaking his name be antisemitic? "

good question

Ben Shalom Bernanke

https://en.wikipedia.org/wiki/Ben_Bernanke