tag:blogger.com,1999:blog-34323687.post7458859887783380516..comments2024-03-28T12:22:11.704+00:00Comments on Macro Man: ChermanyMacro Manhttp://www.blogger.com/profile/12324967552369915949noreply@blogger.comBlogger11125tag:blogger.com,1999:blog-34323687.post-29688251007928684202010-03-18T03:19:14.587+00:002010-03-18T03:19:14.587+00:00The latest and greatest from pettis is worth a rea...The latest and greatest from pettis is worth a read as usual folks <a rel="nofollow"> its here href=http://www.mpettis.com </a>Nemo Incognitohttps://www.blogger.com/profile/07345185457108156269noreply@blogger.comtag:blogger.com,1999:blog-34323687.post-16918283260693299792010-03-18T01:10:49.066+00:002010-03-18T01:10:49.066+00:00@ivanovich71
fair enough, but last time i checked...@ivanovich71<br /><br />fair enough, but last time i checked copper didn't have a couponRosscohttps://www.blogger.com/profile/18218092677103028057noreply@blogger.comtag:blogger.com,1999:blog-34323687.post-56889378329270161362010-03-17T18:24:25.383+00:002010-03-17T18:24:25.383+00:00Sigh. Remember when Krugman was just an economist...Sigh. Remember when Krugman was just an economist, rather than an ideologue? He always seems much more interested in making/scoring snide little political points than in real economic analysis these days. When the conclusion/interpretation is known in advance, there's not much point, is there?<br /><br />Having lived in Ireland, I can tell you that my experience most definitely was that uber-cheap money was THE prime mover of the real estate bubble. Ireland had a long and sordid history of, shall we say, "morally compromised regulators" well before 1999; without the cheap money, the booms were nowhere near what the ROI experienced from '02- '07.Macro Manhttps://www.blogger.com/profile/12324967552369915949noreply@blogger.comtag:blogger.com,1999:blog-34323687.post-44330273480756264872010-03-17T18:09:39.519+00:002010-03-17T18:09:39.519+00:00Speaking of the Krugmeister, LB is not a huge fan ...Speaking of the Krugmeister, LB is not a huge fan of his unlimited printing philosophy, but he has two good pieces today:<br /><br /><a href="http://krugman.blogs.nytimes.com/2010/03/17/how-much-of-the-world-is-in-a-liquidity-trap/" rel="nofollow">Liquidity Trap? </a><br /><br />and<br /><br /><a href="http://www.nytimes.com/2010/03/08/opinion/08krugman.html?partner=rssnyt&emc=rss" rel="nofollow"> Irish Crisis </a>Leftbackhttps://www.blogger.com/profile/07728096415928915882noreply@blogger.comtag:blogger.com,1999:blog-34323687.post-35664791312297042362010-03-17T17:16:11.483+00:002010-03-17T17:16:11.483+00:00The US did have a choice back in 2001 when it acce...The US did have a choice back in 2001 when it acceded to China's entry to the WTO with an inconvertible currency. <br /><br />The backpedaling on free-trade now (see Krugman this week)is more than a little ironic.<br /><br />Old comments from me:<br /><a rel="nofollow"> <br />http://mstar-thelongrunequilibrium.blogspot.com/2007/10/ricardo-revisited.html </a><br /><br />Pimco paper on China policy:<br /><a rel="nofollow">http://www.pimco.com/LeftNav/Viewpoints/2007/Renegade+Economics.htm</a><br /><br />Palley paper on BWII:<a rel="nofollow"><br />http://www.levy.org/vdoc.aspx?docid=796</a>m*https://www.blogger.com/profile/17580876993337606176noreply@blogger.comtag:blogger.com,1999:blog-34323687.post-36461672416418408312010-03-17T16:50:09.802+00:002010-03-17T16:50:09.802+00:00A big dump after OpEx is always on the cards in th...A big dump after OpEx is always on the cards in this kind of market, no? Of course it is quite normal for the small caps to have a P/E approaching 50 according to some estimates ... and so it continues, with a massive short squeeze day after day after day, until someone turns off the tap.<br /><br />It's all about liquidity.Leftbackhttps://www.blogger.com/profile/07728096415928915882noreply@blogger.comtag:blogger.com,1999:blog-34323687.post-2838475600394076692010-03-17T15:42:30.222+00:002010-03-17T15:42:30.222+00:00Ah yes, another reason the AUD should take it on t...Ah yes, another reason the AUD should take it on the chin (any protectionism) but just another reason it will defy gravity once more and remain in the stratosphere.<br /><br />It's all about yield. Or haven't you heard?Ivanovich71https://www.blogger.com/profile/05295523884718874800noreply@blogger.comtag:blogger.com,1999:blog-34323687.post-35199305707023710802010-03-17T13:06:08.585+00:002010-03-17T13:06:08.585+00:00Oh, those things matter, but it's not exactly ...Oh, those things matter, but it's not exactly like no one else offers them either. I think it's very much a case of "you'll come for the cheap labour, you'll stay for the tax breaks".Macro Manhttps://www.blogger.com/profile/12324967552369915949noreply@blogger.comtag:blogger.com,1999:blog-34323687.post-4398754629878864272010-03-17T11:49:35.810+00:002010-03-17T11:49:35.810+00:00"Low value added manufacturing will merely sh..."Low value added manufacturing will merely shift to Vietnam or some other economy with a surplus of cheap labour."<br />That is supposing that the comparative advantage of China for the last few years was cheap labor. This is not obvious : it also comes from cheap funding, tax base biased towards exporters, subsidized energy, and, may be the most toxic of the mix, "ghost FDI".Charleshttps://www.blogger.com/profile/15664983104693516908noreply@blogger.comtag:blogger.com,1999:blog-34323687.post-69274496603697732702010-03-17T11:46:27.829+00:002010-03-17T11:46:27.829+00:00When the US talks about increasing exports by x in...When the US talks about increasing exports by x in the next x years the questions remain :<br />what?<br />to who?<br />where does the capex come from ?<br />what comparative advantage do they still enjoy ?(ex autos) <br /><br />I think the AUD will bear the brunt of any negative sentiment around world trade and protectionism. As for HG1...i think this is one of those rationality vs solvency momentsRosscohttps://www.blogger.com/profile/18218092677103028057noreply@blogger.comtag:blogger.com,1999:blog-34323687.post-39350396315073186942010-03-17T09:59:19.874+00:002010-03-17T09:59:19.874+00:00Nice post MM.Nice post MM.Harryhttps://www.blogger.com/profile/07126315634400000151noreply@blogger.com