en-us https://www.intensedebate.com/users/310747 Comments by angel9913 http://paul.kedrosky.com/archives/2011/05/jim-rogers-on-bbc-hardtalk.html#IDComment159579878 I'm already used to the bias expressed by BBC and most of their haughty TV hosts, but I had no idea that they could be so ignorant economy wise. The level of public education in the western world had become truly appaling over the last 30 years, and THAT's a huge threat for the future that nobody is talking about... Sun, 5 Jun 2011 14:58:10 +0000 http://paul.kedrosky.com/archives/2011/05/jim-rogers-on-bbc-hardtalk.html#IDComment159579878 http://paul.kedrosky.com/archives/2011/03/head_of_al_jaze.html#IDComment133016310 What the heck is so "hugely inspiring" about this speech ? This media outfit will do its damnest to start a revolution everywhere it cans, even on Mars if Martians will ever be dumb enough to allow it . It will do that not because it cares about people (or Martians) but because it makes GREAT ratings, which translates into big bucks, quickly. The most probable result of any revolution in that area of the globe will be the replacement of relatively benign dictatorships (at least from a Western point of view) with vicious dictatorships under the form and shape of islamic regimes. These will quickly become an enourmous headache for the inept Westerners who watched the televised "revolutions" from the comfort of their living rooms, cheering for "the little guy" while indulging in their mandatory chips and/or popcorn with diet Coke . The lives of those who overturned the old regimes will become worse, not better, as they'll realize fast that they exchanged a bad hand of cards for a really terrible one. Of course, the new regimes will immediately become allergic to any sort of disenting view, so one of their very first measures will be to ban and shut down the very media channel that facilitated their coming into power. The gentleman in the video above will then become just another "free speech refugee" in one of the overcrowded and barely functional Western democracies, lamenting about the lack of freedom in a forever misunderstood Middle East. That would be the supreme irony in this lesson about real politics in real life: he will be not only the moral but the physical author as well, of his own misery, beyond that of those hundreds of millions who believed the dream he sold them once on their TV sets, Facebook, or Tweeter accounts... What exactly is there to celebrate in this entire sad mess ? Mon, 7 Mar 2011 02:50:12 +0000 http://paul.kedrosky.com/archives/2011/03/head_of_al_jaze.html#IDComment133016310 http://paul.kedrosky.com/archives/2011/02/field_notes_cas_1.html#IDComment130192787 Why is it that most people bashing Niall Fergusson tend to sound like Krugman ? It's getting boring already. Wed, 23 Feb 2011 23:05:42 +0000 http://paul.kedrosky.com/archives/2011/02/field_notes_cas_1.html#IDComment130192787 http://paul.kedrosky.com/archives/2011/01/2010_final_ytd.html#IDComment119359155 The economy is doing poorly ! Commodities are way up as a protection mechanism against the QE policies of "the smartest kidz on the block", and not as a result of solid economic growth. Here's an economic trick question: What is America exporting nowadays ? Figuring out the answer is knowing the future... :-) Mon, 3 Jan 2011 23:08:16 +0000 http://paul.kedrosky.com/archives/2011/01/2010_final_ytd.html#IDComment119359155 http://paul.kedrosky.com/archives/2010/12/teetering_and_e.html#IDComment119357496 Extinction-bound "Gloom, doom, and austerity" ? What a perfect example of wishful thinking for the masses... :-) I actually expect it to become the norm, as the "can kicking" exercises from governments all over the world become increasingly difficult AND expensive. Mon, 3 Jan 2011 22:53:12 +0000 http://paul.kedrosky.com/archives/2010/12/teetering_and_e.html#IDComment119357496 http://paul.kedrosky.com/archives/2010/12/teetering_and_e.html#IDComment119356972 Excellent point. It's also relativelly expensive (what's the cost of an e-mail or tweet ?) so much less exposed to junk and spam. Mon, 3 Jan 2011 22:48:47 +0000 http://paul.kedrosky.com/archives/2010/12/teetering_and_e.html#IDComment119356972 http://paul.kedrosky.com/archives/2010/12/scientists_are_2.html#IDComment118528605 In the long run we are all going to be dead Keynes dixit... :-) Wed, 29 Dec 2010 09:16:28 +0000 http://paul.kedrosky.com/archives/2010/12/scientists_are_2.html#IDComment118528605 http://paul.kedrosky.com/archives/2010/12/outlier_scenari.html#IDComment118527201 With what money, if I may ask ? Wed, 29 Dec 2010 09:03:26 +0000 http://paul.kedrosky.com/archives/2010/12/outlier_scenari.html#IDComment118527201 http://paul.kedrosky.com/archives/2010/12/lies_damned_lie_3.html#IDComment116456623 You're not an economist indeed, and it shows. China could store anything fungible and with some market value to replace US T-Bills. Right now there are some tempting alternatives out there, like gold ! Yeah, it doesn't pay any interest but then it doesn't devalue itself with the speed USD does either. Incidentally, as is the case with any other fiat currency, China doesn't need to back up its yuan with anything ! After all, what is the USD backed by ? Full trust of US Gov ? Very reassuring indeed ! Fri, 17 Dec 2010 17:32:43 +0000 http://paul.kedrosky.com/archives/2010/12/lies_damned_lie_3.html#IDComment116456623 http://paul.kedrosky.com/archives/2010/12/30-year_soars_o.html#IDComment115994716 This new normalcy is going to cost GOV Inc a lot of money. I bet they never planned for anything like this... Anyway this has the potential to become interesting as almost the entire QE2 contraption is committed to support the short end of the bond market, per Mr. B's own design. So what do you think it is going to happen at the "unsupported" long end ? Wed, 15 Dec 2010 17:30:23 +0000 http://paul.kedrosky.com/archives/2010/12/30-year_soars_o.html#IDComment115994716 http://paul.kedrosky.com/archives/2010/12/worst-biz-jargon-of-2010.html#IDComment115993947 Perfect cardboard language... At least they look/sound better than "Green Shoots"... Wed, 15 Dec 2010 17:24:56 +0000 http://paul.kedrosky.com/archives/2010/12/worst-biz-jargon-of-2010.html#IDComment115993947 http://paul.kedrosky.com/archives/2010/12/economist_the_w.html#IDComment114745700 Yeah, but the worm tunnelled its way through the US territory first. It just remained under the surface... for now... Thu, 9 Dec 2010 19:35:28 +0000 http://paul.kedrosky.com/archives/2010/12/economist_the_w.html#IDComment114745700 http://paul.kedrosky.com/archives/2010/11/history_is_for.html#IDComment112018625 More to the point, WHAT is US going to export ? Despite its temporary oil bonanza, UK doesn't look "recovered" to me by any stretch of imagination. Argentina is a sad joke (it also managed to confiscate the private pension savings of its own citizens last year, a remarcable accomplishment indeed). Sweden and South Koreea do have thriving manufacturing sectors which are exporting a lot indeed, not the case with US. Fri, 26 Nov 2010 06:59:45 +0000 http://paul.kedrosky.com/archives/2010/11/history_is_for.html#IDComment112018625 http://paul.kedrosky.com/archives/2010/11/vancouver_the_l_1.html#IDComment112015709 3 Of course, we grow great pot here, and there are also a lot of people (most of them smoking it) who believe that natural laws don't apply to them (or their houses). But there are plenty of developments empty (mostly condos or townhouses, but also commercial) and even more in stand by or downright cancelled. Soon enough, once the baby boomers start retiring in numbers, there will be a lot of home rich, cash poor inhabitants in the Lower Mainland... and then you'll see a spectacular bust ! After all, people in Tokyo and HK thought their real estate was special too. Those were much more attractive and economically dynamic places, and we all saw what happened there... Fri, 26 Nov 2010 06:30:19 +0000 http://paul.kedrosky.com/archives/2010/11/vancouver_the_l_1.html#IDComment112015709 http://paul.kedrosky.com/archives/2010/11/vancouver_the_l_1.html#IDComment112015596 2 Even so, Vancouver seem to have seen its peak. The glamour of the Olympics is quickly fading away while the local politicians are stuck with tons of unsold condos in the olympic village. The geography is challenging to say the least, with the entire Lower Mainland area split between an ocean inlet and two branches of the same river. The economic environment is mediocre at best; there is no manufacturing to speak of and a limited amount of decently paying jobs in services and sales. Taxes are onerous (including property and consumption taxes, after all we benefit from the most expensive gasoline in the entire Canada), and traffic is pathetic with a lousy network of roads and ONE highway. Sure, the location is glorious, and the view is great but the weather tends to cancel that advantage for about 6 months a year. Fri, 26 Nov 2010 06:29:08 +0000 http://paul.kedrosky.com/archives/2010/11/vancouver_the_l_1.html#IDComment112015596 http://paul.kedrosky.com/archives/2010/11/vancouver_the_l_1.html#IDComment112015168 1 There are mainly two explanations for the longevity of this real estate bubble in Vancouver. First, this is the warmest place during winters in the entire Canada, not located on an island. Victoria, located on Vancouver Island enjoys slightly better weather, but it's isolated from mainland (and the ferry IS expensive). Secondly, and more important, there is a huge influx of Chinese and Indian money. It all started in 1995-96 right before the Chinese taking over Hong-Kong. Plenty of rich HK residents migrated to Vancouver, bought real estate and moved their families there, as a measure of precaution. The pattern got repeated by rich Taiwanese and, more recently, by equally rich mainland Chinese and East Indians. Fri, 26 Nov 2010 06:24:53 +0000 http://paul.kedrosky.com/archives/2010/11/vancouver_the_l_1.html#IDComment112015168 http://paul.kedrosky.com/archives/2010/10/why_isnt_mexico.html#IDComment104180108 Because they are so overwhelmingly and endemically corrupt ! Here, the short version, save your time. Fri, 15 Oct 2010 16:42:23 +0000 http://paul.kedrosky.com/archives/2010/10/why_isnt_mexico.html#IDComment104180108 http://paul.kedrosky.com/archives/2010/10/greenspan_the_u.html#IDComment104179817 The really worrying side of it is the fact that these guys (Bernanke, Greenspan, Rubin, Geithner) are supposedly the best and the brightest products of the American modern school of economics. THAT doesn't bode well at all for the future of this country. Fri, 15 Oct 2010 16:40:04 +0000 http://paul.kedrosky.com/archives/2010/10/greenspan_the_u.html#IDComment104179817 http://paul.kedrosky.com/archives/2010/10/greenspan_the_u.html#IDComment104179384 Sure, they only created the dotcom bubble, and the real estate bubble, crushed them, and piled-up a boatload of PUBLIC debt in the process, over the span of just 10-12 years. Great job indeed ! Fri, 15 Oct 2010 16:36:24 +0000 http://paul.kedrosky.com/archives/2010/10/greenspan_the_u.html#IDComment104179384 http://paul.kedrosky.com/archives/2010/10/greenspan_the_u.html#IDComment103494312 What a complete and useless tool ! Even so, his successor seems even worse. It's like a surrealistic dumb-dumber contest... Mon, 11 Oct 2010 16:48:47 +0000 http://paul.kedrosky.com/archives/2010/10/greenspan_the_u.html#IDComment103494312