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Moon Kil Woong

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Latest  |  Highest rated
  • The Fed Is Running Low on Ammo [View article]
    Ok, who doesn't get sick watching the Fed buy their own instruments after auction? That seems to be no one. Furthermore, since everyone suspects they are making deals with the people they buy the Treasuries from before they buy them, then the question of price fixing comes into play. Which makes their auctions even that more suspect. Which cuts demand for their auctions yet again. Already yields have risen for long term Treasuries to mid-tterm Treasuries. What will they do when the load of short term Treasuries starts taking a hit.

    After all, since they are loading the entire US government debt on these treasuries doesn't it add to market instability. When short term rates rise won't our deficit mushroom and credit collapse across the board. Won't the Federal Reserve take losses on all their low rate short term market backstops?

    Isn't the Fed suppose to be protecting the dollar and economic stability, not recklessly endangering it? Shouldn't someone put a stop to Bernake before he puts a stop to America's entire economy?
    Aug 18 02:09 AM | 3 Likes Like |Link to Comment
  • Has the Dollar Hit a Major Bottom? [View article]
    The Fed must do something about it's increasingly alarming rise in yields in mid term dated Treasuries and fast. That means less or no QE dole for a while letting them and the US government know they must curb spending. Thank goodness for some market rationality. It seems like the only way to keep the Fed from ruining the entire US economy and destroying the dollar is to refuse to buy US Treasury bonds.

    After all, a Federal Reserve that can't even operate Treasury Auctions has no rights or credibility whatsoever. Thus, their abolishment seems all to rational a response to make them feel comfortable.
    Aug 18 01:59 AM | 2 Likes Like |Link to Comment
  • Why Regulation Can't Solve Financial Crises [View article]
    If you want less volatility just abolish the Federal Reserve and their persistent attempts to increase enconomic volatility through low rates during good and bad times. Their efforts to encourage low or no savings while prodding te government to spend more every year, especially when a crisis emerges largely due to their own incompetence, is absolute madness.

    You are right that we can't avoid the business cycle. And we shouldn't. But we can lower volatility through Glass Stegall and other sane and rational attempts to prevent the financial industry from going to excess.
    Aug 18 01:52 AM | 2 Likes Like |Link to Comment
  • So Much for the 'First In, First Out' Theory [View article]
    It is quite clear those countries that maintained exports and decreased imports naturally benefited the most. Naturally that puts the US far behind as our financial leadership continues its mislaid romance with mass spending and short term solutions over weaning people off of debt and foreign imports.

    Dollar depreciation does nothing if those you import from peg their currency to the dollar and dump your Treasuries to buy up the commodities you use. I really wonder what it will take to make the US government wake up and realize their economic house is burning. They seem to still be living in the 2006-2007 bubble. Of course, to the government I suppose these are the roaring 20's with increased budgets, everyone kissing politicians feet for special dispensation, cheap property, and oh so much power over everyone else. I guess they can feel right at home like lords in an economic hell hole.
    Aug 18 01:48 AM | 2 Likes Like |Link to Comment
  • We Are All Traders Now [View instapost]
    I would be curious how this is calculated. If it takes into account the short time frames of hedge funds and proprietary high frequency trading I would be surprised if it wasn't a matter of hours yet. Cetainly their base babits should not be included in the general population's habits.

    Last I must say, mutual funds make money trading your money (ergo managing it for their own gain). Thus, even though the everage person may not wish to be a trader, in fact leaving all their money in these funds yields the exact bad behavior they would never involve themselves in as an individual because they know it's inherently risky. It is funny how to so many people the perception of risk seems to evaporate when put into a "professional's hands". Mutual funds are risk +trading and commision fees. Not less risky.
    Aug 18 01:36 AM | 2 Likes Like |Link to Comment
  • The Fed's $5.9 Billion Purchase [View article]
    Higher rates are migrating from long term Treasuries to short term. The Fed's attempt to mask this fact only hastens the onset of this most natural of processes. It's like trying to prevent entrophy after heating a pot of water to boiling and pouring in salt.
    Aug 17 08:55 PM | 3 Likes Like |Link to Comment
  • Sergey Aleynikov Seeks Dismissal of Case - Goldman May Beg to Differ [View article]
    The simple fact is Goldman doesn't want to release any information because it will prove damaging to its reputation. You can not prosecute someone for stealing something of yours that is illegal or illigitimate even in your own hands. Most likely his personnel files details his work with code that will bring down further scrutiny on their proprietary program trading. You would think that they would have considered this before rushing to the FBI.

    Byt the way, I think someone should investigate what they told the FBI to convince them and who they told it too. Perhaps once the people involved get questioned they will think twice before they let GS treat the FBI as their own personal private security department.
    Aug 17 08:49 PM | 9 Likes Like |Link to Comment
  • Fed July Loan Officer Survey: The Crunch Continues [View article]
    Joseph Schaefer is too correct in his comment. It certainly would have been better to forgive all small loans in the country than to dole out over $700 billion to too big to fail banks and the Mae's. Instead all we have is these very same banks choking up all the resources of America for their own self interest.

    I understand they shouldn't loan to bad customers. But using the same logic, we shouldn't have loaned or given money to them. A bad company with bad management is bad whether they have a billion dollars or a $100 billion dollars. When is the US going to wake up and realize these banks are inefficient and allocate their resources in a completely unproductive manner. Thus, everyone loses.
    Aug 17 08:42 PM | 5 Likes Like |Link to Comment
  • Raising the Debt Ceiling - Again [View article]
    National debt will never be reigned in except when government and the Fed realize that it is becoming increasingly hard to finance it. They should be realizing it about now, however they discovered quantitative easing. So now we have another few years of frivolous and unproductive years of government wastage to add to our long string of government mismanagement.
    Aug 17 04:25 AM | 6 Likes Like |Link to Comment
  • Goldman Sachs Principal Transactions Update: 826 Million Shares [View article]
    Will the FDIC be so even handed as letting MS violate VaR the same way GS is violating VaR? And if so, then what real reform have we accomplished and why did we ever let them become banks in the first place (besides the obvious, to give them taxpayer's free money and access to low interest taxpayer backed government borrowing). Funny how they threw it back in our face and said they never needed or wanted government support.

    If that's the case, shouldn't GS be liquidated for capital insolvency for not abiding by VaR rather than pay out more in bonuses to it's executives than earnings? These are the things I wish to know.
    Aug 17 04:11 AM | 3 Likes Like |Link to Comment
  • Equity Market: Things Look Ugly for the Bulls [View article]
    Things may not be all rosy for thr bulls but the bears are about 6 feet underwater. It is true we must be cautious, but even with a 10% correction no one can really say the sky fell for the bulls. Hedging may be prudent but shorting these days is just as dangerous as going long.
    Aug 17 04:00 AM | Likes Like |Link to Comment
  • Weak Consumer Spending - Get Used to It [View article]
    We are between the last government stimulus and the ramp of a new one. Thus, it is becoming ever apparent that the government is in the drivers seat and the economy is a false one just following along. Stray too far when they boost the economy and you miss the rally. Stray to far when they stop stimulating or pull the plug and you loose more wealth. Come on dog, keep up with your government masters.

    Is this how a privately run, capitalist democracy is suppose to operate? Even during the height of the great depression we didn't have this level of moral rectitude.
    Aug 17 03:53 AM | 4 Likes Like |Link to Comment
  • Run on the Dollar: What It Could Mean for the Yen [View article]
    Japan has done just about everything they could to stimulate domestic demand already including quantitative easing. it didn't work in the long run, although it did run the otherwise fiscally prudent government into the ground. That doesn't bode well for the US' future either. People have found out that once you go to 0% interest with QE everytime you try to go back up, you meet a very unhppy market that forces the government to prevent a meltdown by providing eternal easy money.

    Thus although people say this is a temporary measure. If history is a guide 0 interest rates, a bankrupt government, and QE are here to stay until it all melts down under decades of mismanaged economic policies.
    Aug 17 03:42 AM | 5 Likes Like |Link to Comment
  • Regional Banks: Toxic Loans Leading to More Toxic Problems [View article]
    Don't worry the FDIC will just keep shuttering banks and dole out the cash for the losses. Printing money is second nature nowadays. Don't expect this to derail anything when the government is more than willing to pay 10s of billions just keeping Fannie and Freddie alive. Just don't expect your local bank to be very helpful when you or your business ever needs a loan. Thay are likely to say, "Sorry sir/madam the Federal reserve that we borrowed money at 0% interest needs it and pays us 1-2% interest without risk so we can use it to pay our bonuses. Why in Gods green earth would we loan money that means free profit without risk for us to someone like you?"
    Aug 16 11:09 AM | 1 Like Like |Link to Comment
  • John Paulson: Long Financials [View article]
    John Paulson: still gaming the system. Why should I not be surprised.
    Aug 16 11:02 AM | 3 Likes Like |Link to Comment
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