The Stock Market

[Abrak]

Can someone tell me if funds are taxed here in THailand?

For non traders it might be worth getting into a fund consisting of THai stocks - one small cap funds is doing extremely well 57.5% PA even with the 2% in fees and plus tax.

Does anyone know

tax could be 15%

but is this to be paid or with held?

check out Aberdeen as Thailand is strong and looks like getting stronger

There are no capital gains taxes on Thai listed shares or mutual funds of Thai listed stocks. I 'believe' (meaning I dont know for sure) there is a 10% withholding tax on dividends (I havnt actually checked recently.)

BlackJack you need to be a little careful in Thailand with 'small cap' 'open ended' mutual funds. The problem comes in the 'downdraft', redemptions force the fund to liquidate to raise cash from stocks that tend to turn 'illiquid' in a down market. This creates a very nasty beta on his holdings, which destroys his short term performance and often leads to more redemptions. Then the fund manager ends up selling a stock he knows is massively undervalued on a PE of 2x.

Aberdeen has a very good reputation though.

[BlackJack]

Can someone tell me if funds are taxed here in THailand?

For non traders it might be worth getting into a fund consisting of THai stocks - one small cap funds is doing extremely well 57.5% PA even with the 2% in fees and plus tax.

Does anyone know

tax could be 15%

but is this to be paid or with held?

check out Aberdeen as Thailand is strong and looks like getting stronger

There are no capital gains taxes on Thai listed shares or mutual funds of Thai listed stocks. I 'believe' (meaning I dont know for sure) there is a 10% withholding tax on dividends (I havnt actually checked recently.)

BlackJack you need to be a little careful in Thailand with 'small cap' 'open ended' mutual funds. The problem comes in the 'downdraft', redemptions force the fund to liquidate to raise cash from stocks that tend to turn 'illiquid' in a down market. This creates a very nasty beta on his holdings, which destroys his short term performance and often leads to more redemptions. Then the fund manager ends up selling a stock he knows is massively undervalued on a PE of 2x.

Aberdeen has a very good reputation though.

thanks for ur quick reply

i always look a bit long term on these things and would rather be exposed this way than US $ or Pounds

it would only be a part of anyones portfolio anyway

[midas]

midas

Vote #1 - as American Citizen I prefer leveraging rather than deleveraging - modest inflation rather than ANY deflation ANY TIME.

I take offence of any non-citizen calling U.S officials abusive names - indirectly claiming that their opinion/experience is superior to elected officials. I may disagree with some - or even many actions by my Government - but this does not give me or any one else the right to be abusive. As American Citizen I can make my judgement count at the next elections - or writing to my Congress.

If you are not American and do not have a Phd in Economics - KINDLY SHUT UP..

Parvis

Ok I will get back to you after the other 309,936,999 American Citizens have all expressed their preference.

As for calling your " officials " abusive names ha ha - I have met people on my travels from many other

countries who would like to do a lot more than just verbally abuse your " officials " for their reckless policies.

Get real Parvis - your so called " officials " can't impose their standards on so many other

countries and then expect not to receive abuse. Look at the way Obama was on the phone like some insurance salesman

pressurising the European leaders as to how to deal with their sovereign debt issues.

And i certainly will not shut up

Edited August 11, 2010 by midas

[Abrak]

Midas, my theory is that your whole PPT conspiracy comes from listening to obscure bloggers and TV evangelists. You keep on mentioning names of economists that seem incredibly obscure as though they write the bible. I just looked up Rick Santellini only to find he is a journalist on a website and news channel aimed principally at ramping stocks and the stock market called CNBC which is available on True by the way.

If you were to look at their website you would see such headlines as...

"Equity markets are cheap" (which they simply arent on any decent historic review (either 20 years or 200 years)).

"There is room to surprise on the upside." (Given 30% EPS growth forecasts for 2011 that sounds pretty optimistic.)

So when Santellini starts spouting garbage remember he is paid to say that stuff.

[midas]

Midas, my theory is that your whole PPT conspiracy comes from listening to obscure bloggers and TV evangelists. You keep on mentioning names of economists that seem incredibly obscure as though they write the bible. I just looked up Rick Santellini only to find he is a journalist on a website and news channel aimed principally at ramping stocks and the stock market called CNBC which is available on True by the way.

If you were to look at their website you would see such headlines as...

"Equity markets are cheap" (which they simply arent on any decent historic review (either 20 years or 200 years)).

"There is room to surprise on the upside." (Given 30% EPS growth forecasts for 2011 that sounds pretty optimistic.)

So when Santellini starts spouting garbage remember he is paid to say that stuff.

“ So when Santellini starts spouting garbage remember he is paid to say that stuff.”

Abrak you couldn’t possibly be more wrong ! ha ha

Rick Santelli is paid NOT to say the things that came from his mouth starting a few months ago on CNBC when he started to seriously criticise the Obama Regime’s policies . As you correctly say CNBC is a rubbish TV channel and is regarded as no more than a propaganda channel for its owner GE Corporation – but that is exactly the reason why he became notorious in a relatively short period of time ! It was the classic “ the Emperor isn’t wearing any clothes “ moment !

He dared on CNBC of all channels to question the “ green shoots “ and “ recovery “ garbage !

I never claimed Santelli is an economist and in fact its probably in his favour that he is not ! ha ha

But he is not only “a journalist on a website and news channel " he is also described as a “ veteran trader “ but more importantly he speaks a lot of sense which is more than I can say for many who have Ph.D.s !

And just because the myriads of “obscure bloggers and TV evangelists “ as you describe them seem obscure to you doesn’t make them any less credible than the likes of your “ hero’s “. I mean is Paul wanna be a politician Krugman any more credible ?

And whether or not you agree with the viewpoints of “obscure bloggers and TV evangelists “ – they are all potential

“ market “ participants and can at the very least give some indiciation of sentiment and the degree to which many no longer trust the stockmarket.

And I don’t believe anyone to the extent that I consider “ they write the bible ” as you put it I simply consider the viewpoints and EVIDENCE from as many sources as possible and as yet there is nothing to convince me that what Ben Shalom Bernanke is telling the people is either sincere or credible.

[midas]

midas

Vote #1 - as American Citizen I prefer leveraging rather than deleveraging - modest inflation rather than ANY deflation ANY TIME.

Here is 30,000 people against your 1 vote who chances are would not share your view ?

30,000 line up for housing vouchers, some get rowdy

Thirty thousand people showed up to receive Section 8 housing applications in East Point Wednesday, suffering through hours in the hot sun, angry flare-ups in the crowd and lots of frustration and confusion for a chance to receive a government-subsidized apartment.The massive event sometimes descended into a chaotic mob scene filled with anger and impatience.

http://www.ajc.com/news/atlanta/30-00030-000-line-up-589653.html

[Parvis]

midas

Vote #1 - as American Citizen I prefer leveraging rather than deleveraging - modest inflation rather than ANY deflation ANY TIME.

Here is 30,000 people against your 1 vote who chances are would not share your view ?

30,000 line up for housing vouchers, some get rowdy

Thirty thousand people showed up to receive Section 8 housing applications in East Point Wednesday, suffering through hours in the hot sun, angry flare-ups in the crowd and lots of frustration and confusion for a chance to receive a government-subsidized apartment.The massive event sometimes descended into a chaotic mob scene filled with anger and impatience.

http://www.ajc.com/n...-up-589653.html

เข้าใจตรรกะเป็นภาษาต่างประเทศสำหรับคุณ

[midas]

midas

Vote #1 - as American Citizen I prefer leveraging rather than deleveraging - modest inflation rather than ANY deflation ANY TIME.

Here is 30,000 people against your 1 vote who chances are would not share your view ?

30,000 line up for housing vouchers, some get rowdy

Thirty thousand people showed up to receive Section 8 housing applications in East Point Wednesday, suffering through hours in the hot sun, angry flare-ups in the crowd and lots of frustration and confusion for a chance to receive a government-subsidized apartment.The massive event sometimes descended into a chaotic mob scene filled with anger and impatience.

http://www.ajc.com/n...-up-589653.html

เข้าใจตรรกะเป็นภาษาต่างประเทศสำหรับคุณ

เน้นที่วอเทอร์เนียนของคุณ

Edited August 12, 2010 by midas

[Parvis]

Midas,

In some respect you were an enigma. Difficult to assess the real person hiding anonymously behind the Internet facade. But your comments eventually do reveal your education, your experience, the development of your thoughts, the stage of development of you as a person - even your approximate age.

There is a certain “disconnectedness” in your comments and replies – a lack of fluidic logic – a lack of deep “original” thoughts about any subject, your ease of using irresponsible, defamatory language.

You quite obviously do not trade and have no investment philosophy nor experience. You indirectly claim to be a “world traveler” talking to people in different Nations. You appear to have an inquisitive mind – but so far only in the “negative realm”.

Midas – continue to travel with your parents and most of all – open your mind and eyes. You are out of your league on this forum – most posters are probably at least 2-3 x your age – with more experience and insight – with more to contribute to “enlighten” – to provoke positive thoughts and discussions.

[midas]

Midas,

In some respect you were an enigma. Difficult to assess the real person hiding anonymously behind the Internet facade. But your comments eventually do reveal your education, your experience, the development of your thoughts, the stage of development of you as a person - even your approximate age.

There is a certain disconnectedness in your comments and replies a lack of fluidic logic a lack of deep original thoughts about any subject, your ease of using irresponsible, defamatory language.

You quite obviously do not trade and have no investment philosophy nor experience. You indirectly claim to be a world traveler talking to people in different Nations. You appear to have an inquisitive mind but so far only in the negative realm.

Midas continue to travel with your parents and most of all open your mind and eyes. You are out of your league on this forum most posters are probably at least 2-3 x your age with more experience and insight with more to contribute to enlighten to provoke positive thoughts and discussions.

Parvis

When badge said a few posts back about you that your apparent expertise lies in desperately trying to come across as a market trading sophisticate , I was prepared at that time to give you the benefit of the doubt.

You then subsequently said about me a couple of posts later Midas you appear to have a mind of your own .

I think we can leave it at that ! :jap:

Edited August 12, 2010 by midas

[midas]

When the tide goes out that you learn who's been swimming naked

The Boycott Continues: 14th Sequential Week Of Equity Outflows

Per ICI, the week ended August 4 saw an outflow of ($2,788) MM, bringing the total to over $46 billion in domestic equity redemptions year to date. Retail is now fully boycotting stocks, as the no-volume surge of July was not even sufficient to bring one meager week of inflows, and in fact, July saw almost $16 billion in outflows.

[badge]

midas

Vote #1 - as American Citizen I prefer leveraging rather than deleveraging - modest inflation rather than ANY deflation ANY TIME.

I take offence of any non-citizen calling U.S officials abusive names - indirectly claiming that their opinion/experience is superior to elected officials. I may disagree with some - or even many actions by my Government - but this does not give me or any one else the right to be abusive. As American Citizen I can make my judgement count at the next elections - or writing to my Congress.

If you are not American and do not have a Phd in Economics - KINDLY SHUT UP..

Whilst its none of my business Mr P, you seem above to be intent on convincing us your an American citizen.

If this is a recent revelation for you congratulations.

As for the notion of modest inflation and leveraging at all times, thats a lovely idea, and I agree; Id also like a Unicorn and a spaceship.

[Abrak]

Midas,

In some respect you were an enigma. Difficult to assess the real person hiding anonymously behind the Internet facade. But your comments eventually do reveal your education, your experience, the development of your thoughts, the stage of development of you as a person - even your approximate age.

There is a certain “disconnectedness” in your comments and replies – a lack of fluidic logic – a lack of deep “original” thoughts about any subject, your ease of using irresponsible, defamatory language.

You quite obviously do not trade and have no investment philosophy nor experience. You indirectly claim to be a “world traveler” talking to people in different Nations. You appear to have an inquisitive mind – but so far only in the “negative realm”.

Midas – continue to travel with your parents and most of all – open your mind and eyes. You are out of your league on this forum – most posters are probably at least 2-3 x your age – with more experience and insight – with more to contribute to “enlighten” – to provoke positive thoughts and discussions.

Parvis,

I do think you misjudge Midas. He does not trade and has given no indication that he intends to. He does have a mind of his own. I agree it is frustrating that he doesnt see or seem to understand other peoples investment philosophies and is prone to refering to everyone as 'sheeple'. But his views are simply that.

I thought his views were rather neatly summed up in something I read today.

‘In the Fed we trust’ says asset prices. ‘In the Fed we mistrust’ is what the US economy and main street should say. With a 2 yr yield already at record lows and long term rates at near historically low levels, economically speaking the Fed is out of bullets in impacting the real economy while more money printing and/or continuation of cheap money will certainly help to lift asset prices and create an illusion that things are better.

Ultimately he doesnt realize they are one and the same argument.

I do however agree that he should 'open his mind' to understand how other people think and their underlying logic, rather than relying on conspiracy theories as to why things are not currently where he thinks they should be. I do however think it is all a bit of a ponzi scheme, that the Dow Jones may well hit 5,000 in the next 5 years and do not like or invest in the market.

Where Midas is a bit of an enigma is the way he phrases things. And I am not 100% sure he means what he actually posts.

[Abrak]

When the tide goes out that you learn who's been swimming naked

The Boycott Continues: 14th Sequential Week Of Equity Outflows

Per ICI, the week ended August 4 saw an outflow of ($2,788) MM, bringing the total to over $46 billion in domestic equity redemptions year to date. Retail is now fully boycotting stocks, as the no-volume surge of July was not even sufficient to bring one meager week of inflows, and in fact, July saw almost $16 billion in outflows.

Honestly Midas,

This is the 5th time you have posted this update.

Why not put it in context. Global private pension funds are US$18trn. Inflows to private pensions are what exactly in the year to date? The US government is issuing US$30bn a week of additional USTs - US$1.5trn a year. What about share buybacks, right issues, takeovers, directors share sales. US$46bn of mutual fund redemptions in the year to date is so insignificant that it doesnt need constantly updating. I would be far more interested in Director's dealings if you happen to have them. (And they are available.)

[chantorn]

Can someone tell me if funds are taxed here in THailand?

For non traders it might be worth getting into a fund consisting of THai stocks - one small cap funds is doing extremely well 57.5% PA even with the 2% in fees and plus tax.

Does anyone know

tax could be 15%

but is this to be paid or with held?

check out Aberdeen as Thailand is strong and looks like getting stronger

There are no capital gains taxes on Thai listed shares or mutual funds of Thai listed stocks. I 'believe' (meaning I dont know for sure) there is a 10% withholding tax on dividends (I havnt actually checked recently.)

BlackJack you need to be a little careful in Thailand with 'small cap' 'open ended' mutual funds. The problem comes in the 'downdraft', redemptions force the fund to liquidate to raise cash from stocks that tend to turn 'illiquid' in a down market. This creates a very nasty beta on his holdings, which destroys his short term performance and often leads to more redemptions. Then the fund manager ends up selling a stock he knows is massively undervalued on a PE of 2x.

Aberdeen has a very good reputation though.

Correct.

There are no capital gains taxes on Thai listed shares or mutual funds of Thai listed stocks. However there is 10% withholding tax on dividends. If you are in a fund that do not pay dividends, then you will not notice anything.

[Parvis]

midas

Vote #1 - as American Citizen I prefer leveraging rather than deleveraging - modest inflation rather than ANY deflation ANY TIME.

I take offence of any non-citizen calling U.S officials abusive names - indirectly claiming that their opinion/experience is superior to elected officials. I may disagree with some - or even many actions by my Government - but this does not give me or any one else the right to be abusive. As American Citizen I can make my judgement count at the next elections - or writing to my Congress.

If you are not American and do not have a Phd in Economics - KINDLY SHUT UP..

Whilst its none of my business Mr P, you seem above to be intent on convincing us your an American citizen.

If this is a recent revelation for you congratulations.

As for the notion of modest inflation and leveraging at all times, thats a lovely idea, and I agree; Id also like a Unicorn and a spaceship.

Badge - as a matter of interest - where did you get the idea that I was anything but an Amercan Citizen?

I May have noted somewhere before that I went to school in Australia (Melbourne - 5 years) - but other than that - I don't think I ever stated anything about my background - or did I?

My "home" has been mostly in the San Francisco Bay Area - Burlingame to be exact.

Modest inflation is ofcourse a "dream" at present - but possibly achievable. As far as leveraging - this is a need - if you have a growth business.

Despite the fact my current interest are derivatives - I "question" the need for such instruments - which are highly leveraging.

(But as I said before - I am not really a trader).

Edited August 12, 2010 by Parvis

[Abrak]

Despite the fact my current interest are derivatives - I "question" the need for such instruments - which are highly leveraging.

(But as I said before - I am not really a trader).

A very very valid point. Fictional capital.

[Parvis]

Abrak - reading your post - I think we are actually saying the same thing. Where I may "misjudge Midas" in your opinion - is his age - and I don't mean this as a "putdown" - I too was very young - so very many years ago.

He does not trade for the simple reason that his parents take care of his present needs - although an aquaintance once claimed he started trading at 12.

If Midas is not as young as I believe - than therefore - he may have a serious problem with coherence and comprehension.

Per you comment:

"Where Midas is a bit of an enigma is the way he phrases things. And I am not 100% sure he means what he actually posts".

I believe he does not know or understand himself the meaning of his posts.

[Parvis]

Abrak - reading your post - I think we are actually saying the same thing. Where I may "misjudge Midas" in your opinion - is his age - and I don't mean this as a "putdown" - I too was very young - so very many years ago.

He does not trade for the simple reason that his parents take care of his present needs - although an aquaintance once claimed he started trading at 12.

If Midas is not as young as I believe - than therefore - he may have a serious problem with coherence and comprehension.

Per you comment:

"Where Midas is a bit of an enigma is the way he phrases things. And I am not 100% sure he means what he actually posts".

I believe he does not know or understand himself the meaning of his posts.

Personally, I am a long term optimist economically - I do not ignore the current problems but I feel we will manage to escape our current difficulties.

Edited August 12, 2010 by Parvis

[Abrak]

Personally, I am a long term optimist economically - I do not ignore the current problems but I feel we will manage to escape our current difficulties.[/size]

My comments on the US stockmarket merely reflect a lack of knowledge combined with the fact that the central reserve based economy is always debilitated by an overvalued currency and a mismatch of monetary objectives.You were warned and paid no attention. As an American you have to favor leveraging or capital controls.

So I am an optimist economically but I am not an optimist about the US until it changes it's game plan and I don't like your valuations. Financialisation is part of the problem and not the solution.

And honestly having exposure to your wretched currency is enough risk for me.

[Abrak]

As far as leveraging - this is a need - if you have a growth business.

I will tell you why I believe you are half wrong and half right and your optimism is misplaced (but it does require an open mind.)

You state.

The US should leverage. Correct imho.

A growth business should assume leverage. Correct imho.

However the second statement suffers from the fallacy of composition. Namely with a business its growth and debt are independent. With an economy where everything is aggregated it is the debt that creates growth. The US economy essentially hasnt been a growth business for 20 years, it has simply grown on ever decreasing returns on increasing debt.

This why people want to see deleveraging but it cannot happen (under current circumstances). If anyone thinks the US fiscal deficit not being subject to austerity is anything but a necessity they are almost certainly wrong. It is known as the Triffin Paradox (but was better explained by Keynes.) It is not an economic theory, it is an economic axiom.

And basically what it says is that the US has to increase leverage because the global economy is a growth business that eats away at the US. The US is in fact one of the most productive economies in the world and rapidly becoming impoverished. They should have learnt from the Brits.

BTW if you look it up on Wikipedia, it will show you that the Chinese know exactly what they are doing

Edited August 13, 2010 by Abrak

[midas]

Abrak and Parivis..........WOW !

Things must be dull if all there is to talk about in the Stock

Market thread is the psychoanalysis of Midas !

Anyway what was it that Katherine Hepburn once said ......" It doesn't matter what they say about you, as long as they talk about you

Meanwhile back to the subject of this thread I saw this written by a trader and thought it

was a good summary :-

" Were digging an ever deeper hole here, the EU problems have not gone away by any means. And after I saw the amount of sov debt the European banks own, I have conviction the EURUSD rally is a headfake. Those banks will go down as they are forced to take the haircuts on the sov debt… unlike in the US, where the govt could borrow to bail out the losses on private securitized debt, the Euro banks toxic problem is the govt debt itself… its a tight closed loop… or spiral, as it were…

Stocks are nearly out of accounting tricks, imo…. The final demand is not there and wont be. Trading on fwd P/E when the E is pure fantasy will not end well. Everyone seems to say stocks have gone nowhere in 10 years as the ultimate sign of how poor stocks have done…. actually S&P is down over 25% in the last 10yrs. And it continues as we de-lever.

If we think fund flows into bonds / out of stocks are significant now, just wait til we get another big leg down in stocks this fall… I think we see banks (and individuals to a lesser, but significant degree) go all in UST… every day theres less and less hi-quality, non-UST bonds eventually, if it has not already happened, the yield premium for taking incremental risk in high-grade f/i over USTs withers to a level that is not meaningful, and the UST bid from banks and mom/pop begins, and then feeds itself… the proverbial towel will be thrown in.

We sell a lot of product to banks. Community banks used to own a large amount of USTs outstanding today they own almost nothing but that is beginning to change. From a bank portfolio perspective, youre just not getting paid to try to outsmart the market in anymore… (the one exception is the non-agcy mbs mrkt, but they are not making those anymore; its dying…) GSE MBS is rife with headline/pre-pay risk from executed and potential govt fix programs/experiments it used to be that the base-case scenario in GSE MBS was the worst-case… today its the best-case and if the stars dont line up, you can get SMOKED. Just ask holders on GSE MBS that saw 70-80% cpr during the buy-out months this spring and summer… and for taking on this the rules can change at anytime risk on your massively negatively convex portfolio, youre barely getting paid 1% over UST… risk >>> reward… look at it this way: in a GSE modification or principal reduction or whatever program, the investor receiving immediate par back on mbs holdings with a $108 book price is a BIG hit 8 points will take 3-4yrs to recoup at todays rates…

My fear was that a potential big QE2 would give another huge leg up in stocks etc and drag this out…. But over the last 3-4 weeks, its amazing the sentiment change I think the market sees straight thru another QE program and says oh shit its as bad as we feared….

Ive said since many months back 2.25% 10y and 7000 DOW by 12/31…. My only change from that thought is that the trend continues in 2011 and we see 1%-handle 10yr and 2%-handle 30yr at some point. And yea, Im aware that we are building a fiscal hole well probably never get out of and well deal with the huge consequences of that down the line, no doubt… but for now, the US situation is the worst, except for all the others."

Edited August 13, 2010 by midas

[Abrak]

Well one thing I will promise you Midas is that rightly or wrongly from an investment perspective I will never lend money to the US Government at less than 3% per annum over ten years. If I fail to do better so be it. It is not an investment in my view. It is merely totally irresponsible and ridiculous. You can claim anything you like about stocks and investments but dont try and persuade me to lend to the US Government at those sort of rates because quite frankly I would rather keep the money under the bed and receive nothing.

I know you lack faith in equities but I am happy to lose money in something that I believe in rather than buy 10 year USTs. I have no idea whether they will go up or down, it is a question of principle. And to be honest if you cant make 3% p.a. over 10 years, you shouldnt even bother investing in the first place.

BTW how you get the Dow to 7000 based on 2.25% 10 year UST yields is totally beyond me. As far as I see things, the Dow is overvalued because bonds have such a ridiculously low yield. From an investment perspective 2.25% or 0% is simply a margin of error rather than a return.

Look Midas, I think you might be right on rates but quite frankly I see it as punting on internet stocks - 2% yield going to 1%. I dont usually buy stocks with an earnings yield of less than 10%. I can buy stocks with 25 year fixed priced (inflation adjusted) contracts and a yield of 6%. Just remember who you are lending to.

Apologies Midas, I thought these were your thoughts rather than a bond traders.

Anyway I believe buying USTs at these rates is inherently immoral and my moral standards have an incredibly low bar.

Edited August 13, 2010 by Abrak

[badge]

Midas - stock markets have gone down quite sharply for a few days. Im sure lots of people who are unable to foresee such things are a little miffed.

[midas]

Midas - stock markets have gone down quite sharply for a few days. Im sure lots of people who are unable to foresee such things are a little miffed.

LOL

No no I am sure the master of oscillations predicted this weeks ago

[badge]

I greatly anticipate Chantorn informing us when stocks are 'high' and 'low'.

Her idea of buying low and selling high sounds like a brilliant idea to me.

[Parvis]

Abrak

In my "humble opinion (if there is such a thing)" - Depth finances Growth (in most cases) - therefore Depth and Growth are "linked intimately".

Ofcourse - if one considers the US Government - it is a question of checks and balances - therefore "fiscal responsibility" (or the absence of it).

There is even talk about reducing the US Defense budget - we are indeed in some unusual times.

[Abrak]

Abrak

In my "humble opinion (if there is such a thing)" - Depth finances Growth (in most cases) - therefore Depth and Growth are "linked intimately".

Ofcourse - if one considers the US Government - it is a question of checks and balances - therefore "fiscal responsibility" (or the absence of it).

There is even talk about reducing the US Defense budget - we are indeed in some unusual times.

Assuming I understand you correctly 'depth' might be 'saving' which finances economic growth. Which is true in the sense of saving financing investment.

Seems to me though that speculation and asset bubbles occur due to lack of 'depth'. In other words you previously stated that your choice was money under the bed or speculation to increase equity. You could have chosen to mention investing in a business but I suspect the risk profile is simply too high to reach the radar. I might however have totally missed your point.

As far as the US Government is concerned there is no risk weighting that I could possibly attach to justify the return.

[Parvis]

Abrak

In my "humble opinion (if there is such a thing)" - Depth finances Growth (in most cases) - therefore Depth and Growth are "linked intimately".

Ofcourse - if one considers the US Government - it is a question of checks and balances - therefore "fiscal responsibility" (or the absence of it).

There is even talk about reducing the US Defense budget - we are indeed in some unusual times.

Assuming I understand you correctly 'depth' might be 'saving' which finances economic growth. Which is true in the sense of saving financing investment.

Seems to me though that speculation and asset bubbles occur due to lack of 'depth'. In other words you previously stated that your choice was money under the bed or speculation to increase equity. You could have chosen to mention investing in a business but I suspect the risk profile is simply too high to reach the radar. I might however have totally missed your point.

As far as the US Government is concerned there is no risk weighting that I could possibly attach to justify the return.

My choice would never be "hiding money under your mattress" - for Economic growth money needs to circulate. But yes by "speculation" I also include business.

There is a rather gross misspelling in my previous post - I meant to say "Debt finances growth". - quite a different meaning.

[Abrak]

My choice would never be "hiding money under your mattress" - for Economic growth money needs to circulate. But yes by "speculation" I also include business.

There is a rather gross misspelling in my previous post - I meant to say "Debt finances growth". - quite a different meaning.

I think you meant to say 'debt finances growth.....until it doesnt'