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Moon Kil Woong  

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Latest  |  Highest rated
  • Are The Distortions In The Stock Market And The Economy Catching Up With Us? [View article]
    There are also distortions in accounting for big banks as accounting rules were changed so that banks can hold properties at book value instead of recording face value losses as long as they don't sell them or lease them. This has created not just rotting unused homes across America, but rotten bank assets.

    Sadly, TBTF banks are claiming they are still too weak and dependent on these accounting rules and the zirpish rates to revert back to the way they were. Sadly the author is correct that there is no clean way to exit these perversions of accounting and capitalism than to make them absorb the effects of the losses as we revert back to normalcy.

    They will fight to the end and eventually probably threaten their own solvency again if such measures are revoked which is why the US should never backstop any private bank no matter how too big to succeed it gets.
    Aug 25, 2015. 07:51 PM | 6 Likes Like |Link to Comment
  • Is A Bear Market Starting? Prepare To Be Mauled, Down And Up [View article]
    The selloff is so far pretty ordered. There is not the panic that exemplifies a crash yet. The author is right that volatility goes up and swings become very large in crashes. So far this selloff hasn't been marred by a huge collapse which tends to point to rational retracement given information more than a collapse. We will see if it erodes to ugliness.
    Aug 24, 2015. 07:35 PM | 12 Likes Like |Link to Comment
  • Apple: Best Tasting Bear Ever? [View article]
    Normal down day. Unfortunately, few are used to reasonably heavy down days.
    Aug 24, 2015. 06:53 PM | Likes Like |Link to Comment
  • The Fed Is Spooking The Markets Not China [View article]
    The issue is that for a long time no one with a brain expected the Fed to raise rates just like they have failed to for the last 4 years. A rate increase isn't what is driving the market down. The simple fact is the first part of economic slowdowns in the US seem to occur in Asia since manufactured goods are produced there and not our economy. The one part of this the US still produces, oil and oil distillates have been having problems for quite some time.

    So now the second part may be starting which is weakness in shipping and expansion of the slowdown into the service sector right as there is a push to raise minimum pay. The market has not yet realized its conundrum and is still trying to deal with an apparent lack of growth, not economic contraction.
    Aug 24, 2015. 06:42 PM | 4 Likes Like |Link to Comment
  • Why Apple Investors Shouldn't Fear China [View article]
    There is very little panic in this downturn so far. I agree China plays a minor role but it is exacerbated because Apple's insistence on continued growth primarily in China since the US growth is slow.

    What we are seeing with Apple is the fact it is so widely held and overly held by mutual funds in fear or redemptions as the market fails to climb. It has less to do with China than it has to do with its market cap and wide holdings.
    Aug 24, 2015. 06:33 PM | 4 Likes Like |Link to Comment
  • What's working: Fear gauges pop [View news story]
    LOL, a lot of companies are going to look really stupid for depleting their cash and buying their own stock at market highs. Inevitably this stupid policy will stop, especially companies taking on increased debt to buyback stock and distribute dividends.
    Aug 24, 2015. 06:29 PM | 2 Likes Like |Link to Comment
  • All That Is Solid Melts Into The Air [View article]
    Pegging as a source of stability provides stability until it doesn't then it creates massive moves that lead to greater disability than not pegging in the first place.
    Aug 24, 2015. 06:27 PM | 1 Like Like |Link to Comment
  • Apple: Best Tasting Bear Ever? [View article]
    Yawn, much ado about nothing. Can we go back to sleep? It's just another relatively normal down day. What is interesting is that China has grown enough now to affect the US.

    In the past usually the US affected China but China almost never affected the US market.
    Aug 24, 2015. 12:07 PM | 21 Likes Like |Link to Comment
  • If It Is 1929 In China, Have We Learned Anything? [View instapost]
    Sadly the US has so much debt and is loping on more every day that the US can't even manage its own debt internally, rather it needs foreign entities to buy our bonds. Fortunately, China and others do just that. The US should be the last ones buying more guns or anything unnecessary for increased business.
    Aug 24, 2015. 12:03 PM | Likes Like |Link to Comment
  • The World Has Changed But Policy-Makers Have Not [View article]
    The biggest problem why growth hasn't occurred is because policy makers and the central bank are embracing outright anti-capitalist methodologies to support their interests. This has prevented capitalism from purging inefficiencies and reforming to the new market. Rather than decommissioning ruinous TBTF banks we made them bigger and now embraced them like socialist countries as virtual State banks backed by the government. This has resulted in them cannibalizing the more effective banks as people flee to banks guaranteed by the government.

    Likewise, Fannie and Freddie who were chief contributors to the last crash have now become part and parcel of the government and are offering 5% and under loans to people again to try to get people who can't afford houses again. Given, they aren't as ninja like as before but are way too close to it. So to make up the difference the government has now gotten into the student loan business which is causing massive enrollment costs, creating fraudulent schools including Trump University, and saddling students with debt that can't be gotten rid of.

    In the meantime the Federal Reserve has abandoned economics and engaged in the candy giveaway game leaving rates at zirp for the whole cycle and telling TBTF banks to buy stocks and then trying to act as a plunge protector while giving Fannie and Freddie cash for their terrible loans so they can lend out even more money at rates that don't make sense to people who probably shouldn't be overleveraging to buy a house.

    The main issue now is not that economics doesn't work, but that socialism in our system is adding levels of corruption, irresponsibility, and greed that destroys the capitalist system.
    Aug 24, 2015. 11:59 AM | 10 Likes Like |Link to Comment
  • China leads Asian markets lower [View news story]
    Sadly, China's sell off is not really that dramatic given its ridiculous rise. This is more a retracement than anything else. Likewise, one could argue it is the same for the US market on a smaller scale. The news makes this look much worse than it is. Wait for a panic crash to start waking people up early. This is not a crash and certainly no one is panicking.

    If anyone is, they should get out of the market and go back to playing the lottery.
    Aug 24, 2015. 11:46 AM | 2 Likes Like |Link to Comment
  • Cool reception for gold amid market sell-off [View news story]
    Gold is holding up relatively well in this selloff. That, once again, shows cool heads are in this sell off. Those claiming panic and a collapse need to wake up. This is nothing like a panic sell off. Look at China's market if you want to see panic.
    Aug 24, 2015. 11:41 AM | 1 Like Like |Link to Comment
  • Making Sense Of China's Currency Policy [View article]
    China's problem is locking the Yuan with the dollar. If China let the currency freely float they wouldn't have to devalue. It would have devalued much more than their recent devaluation relative to the dollar. One should look at the Yuan to any SE currency to see why manufacturing is trying to flee China to Vietnam, Malaysia, and other countries.

    In fact, we should be thanking them for not devaluing sooner. As for the US, our Federal Reserve has locked us at zirp rates so when we hit a downturn there is pretty much nothing we can do but run massive deficits and engage in QE to devalue. Absolutely stupid...
    Aug 24, 2015. 11:39 AM | 3 Likes Like |Link to Comment
  • China leads Asian markets lower [View news story]
    Yawn... pretty much everyone already owns Apple including all the funds that will be forced to liquidate shares as people exit this downturn.
    Aug 24, 2015. 11:32 AM | 2 Likes Like |Link to Comment
  • China leads Asian markets lower [View news story]
    The metrics are backwards looking. It is increasingly clear Apple and others numbers will look increasingly bad here on out even with cheaper plastic prices.
    Aug 24, 2015. 11:31 AM | Likes Like |Link to Comment
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