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Moon Kil Woong  

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Latest comments  |  Highest rated
  • The Long Road Back to an Asset-Based Economy [View article]
    With average asset values no more than 2 years salary even for households under the average, no wonder the US is in such a mess, especially as baby boomers go into retirement. If the government took everything we owned it would still not cover medicare, medicaid, and social security for the baby boomers. Retirement is quickly becoming nothing more than a fairy tale.
    Jun 12, 2010. 03:48 PM | 11 Likes Like |Link to Comment
  • My Initial Take on Today's ECB Statement [View article]
    1) The EU is still fractured and no one can come together and agree on anything.
    2) There is still no viable solution
    3) There is no long term solution to the crisis save making the well off countries finance indefinitely the not so well off. Gee talk about World Bank II. The US funds the most for that grand institution as it goers bankrupt slowly itself.
    4) Really the EU is in denial and hopes that the effect of these crisis will manifest themselves in another few years, just in time for another great downturn.

    I have learned one thing investing. Don't look to clueless people for accurate information.
    Jun 11, 2010. 05:25 PM | 1 Like Like |Link to Comment
  • How BP Will Announce Its Dividend Suspensions [View article]
    BP will be lucky to get off the hook even surviving as a viable company at this rate. Perhaps their home country will have it in their hearts to nationalize it like we did with AIG, Citibank, etc. Doing grave injustice seems like the perfect ticket these days for a free ride on taxpayers funds. What a world.
    Jun 11, 2010. 05:20 PM | 11 Likes Like |Link to Comment
  • Why Debt Crisis Will Only Be Resolved Through Inflation [View article]
    The US government and central bank will always try endlessly inflate leading to endlessly rising taxes. This is not just to deal with overspending, but leads to increased power and wealth for those in banking and government at the cost of the rest of the private sector.

    The step towards a socialized economy is made in a series of steps these days. At 16% of GDP our forefathers would already say we are a socialist state.
    Jun 11, 2010. 02:53 PM | 3 Likes Like |Link to Comment
  • 'Idle' Corporate Cash Not Really Enough to Help the Economic Recovery Long-Term [View article]
    Idle cash in companies goes into bank accounts which gets loaned out. I am less concerned with this idle cash than I am with banks sitting on government funds. Sure it sterilizes the money like it didn't exist save for all the magic interest they get loaning it back to the government at higher rates. But it does nothing to fulfill the policy goal of stimulating the economy or thwarting a recession.

    The worse thing that can happens with those investing not saving money is that it is put into the bank and not enough people wish to borrow to get full action from the money multiplier. That is an issue of borrowing and loaning more than it is someone saving.

    In the case of banks sitting on Federal reserve primary money or government money going to them is multitudes worse. Government money increases debt to the government while not loaning it prevents its circulation. Federal Reserve primary funny money not used also prevents its circulation. The only benefit being that banks get to pad their earnings off of the interest and devaluation of the dollar. So let's please complain about, not companies saving but what banks are doing to the money supply.
    Jun 11, 2010. 02:11 PM | 1 Like Like |Link to Comment
  • Real Estate Likely to Face Headwinds [View article]
    Real Estate cycles tend to be multi-year events. It will be a long while before you see a bull run up. In the meantime, you may be paying 1-3% annual taxes on the home's theoretical value, 5-7% on interest, plus paying for maintenance, repairs, etc. During this time home ownership is clearly not an investment but a luxury. A very expensive one at that.

    Government should promote rational decision making, not decision making with an all encompassing belief that everyone should own a home. That is not economically viable or healthy as we are now seeing. Who will pay for this misguided policy goal? You and me.
    Jun 11, 2010. 02:03 PM | 3 Likes Like |Link to Comment
  • Retail Sales' Setback [View article]
    What are you talking about? Most of the fall off was in construction and gas prices. Everything else was positive. Gas price sales dropping is actually good for the economy since most all gas $ goes overseas and lets people have more to save or spend. And construction, the sooner they stop building unneeded new homes the better for the millions of Americans who own and are underwater on their existing homes.

    I view this report as mildly positive in terms of what it means for the future. Mild gas prices going into the summer driving season means a good perk to most people. And a drop off in construction shows the economy continues to rotate out of the overbuilt property speculation that got us into this mess.
    Jun 11, 2010. 01:34 PM | 3 Likes Like |Link to Comment
  • Retail Sales Fell in May, Helped by Drop in Gas Prices [View article]
    Thanks for bringing this up. As I mentioned before a sizable drop in gas prices would aid an economic recovery even if it suppresses income going to oil companies which ends up going overseas. The people reporting economic numbers obviously never do their homework. This is actually a mildly positive report. I hope they all get burned shorting today.
    Jun 11, 2010. 01:29 PM | 2 Likes Like |Link to Comment
  • Bob Doll: S&P 500 Is Going to 1,250 [View article]
    This is kind of funny, "Central banks are still operating under many of the facilities put into place then, and the banking system as a whole has benefited from deleveraging, write-down and capital rebuilding. Additionally, the overall magnitude of sovereign debt exposures is significantly smaller than that of the mortgage-related holdings that ultimately provoked the 2008 credit crisis."

    Banks have only deleveraged by dumping their waste on Fannie Mae and Freddie Mac and on the Federal Reserve. And still their loss reserves can't cover their marking to market. Where does he get off saying there is capital rebuilding?

    On sovereign debt exposure is billions more than the value of all bad home values. How exactly is trillions less than hundreds of billions? This guy should think before he writes and be fired as an economic strategist.

    The only reason the market will move up from here is if most of the bad news is baked into the cake and some unexpected summer positives show up, ergo an efficient market theory (the value of the market equals the available information put into it). But I guess he doesn't believe in such things.
    Jun 11, 2010. 01:25 PM | 10 Likes Like |Link to Comment
  • Retail Sales Numbers Sadden Speculators [View article]
    The good thing about less spending is less debt. If that is the case moderate sales is acceptable, providing savings rises. No one is expecting a giant bull in sales as far as I know.
    Jun 11, 2010. 12:30 PM | 1 Like Like |Link to Comment
  • Is Basel III Already Prompting Bank Sales? [View article]
    This is probably just another scare tactic by financial firms to block any reform whatsoever. I expect a lot more excuses why Basel III should be scrapped. It will be announced for the better interest of the public but the real effect is to deny proper transparency and regulation to banks and financial institutions that can and do cripple whole nations in their own self interest (actually just the management and board of directors. As we can see they don't give a rat's ass about the rest of the powerless shareholders).
    Jun 10, 2010. 10:15 PM | 5 Likes Like |Link to Comment
  • Taleb: The U.S. Economy Isn't Getting Better, It's Getting Worse [View article]
    The argument that smaller businesses make better business is a cogent one, especially if they grow in a large fertile field of competition. Big banks have become inefficient immoral businesses tied together by the Federal Reserve to become an oligopoly. As such they are a weed to society to be cut out not fed more taxpayer money and citizen's debt as fertilizer.
    Jun 10, 2010. 10:11 PM | 12 Likes Like |Link to Comment
  • The Credit Unions' Fight Against Interchange Regulation [View article]
    I am very supportive of your stance that transaction costs should be as efficient and transparent as possible in order to encourage more business. It is a simple economic fact that if transaction costs are high then it will stymie any economy. A good example is if there was a 10% transaction cost on every transaction. Not only would it sap money from those purchasing and selling things (the seller ends up offsetting some of the cost) but it would discourage people from buying at all.

    I hope reason prevails in capping inter-exchange fees and limiting credit card companies from committing usury. If they can't weigh risk properly they should let others get in the business who can do a better job. In the end it's governments job and duty to guarantee safe and efficient commerce and regulate money and monetary transactions (physical and digital). This certainly falls under their5 purview.
    Jun 10, 2010. 10:05 PM | 3 Likes Like |Link to Comment
  • Equities Update: Rebound Mood Brings Best Session for Stocks in Several Weeks [View article]
    This bounce shows a pretty strong sign for bottom support above 9,800-9,900. It is way too early to tell if a run up rally can be sustained with many large up days being erased by down days recently. Don't sell, but I would be hesitant to bull into any new positions.
    Jun 10, 2010. 05:30 PM | 1 Like Like |Link to Comment
  • Modern Monetary System: There Is Another Way [View article]
    The problem is the government, banks, and the Federal Reserve all want inflation or more correctly to devalue money so they can make more of it. Indeed if it was the goal of the Federal Reserve to insure the stability of money and have 0% deflation and 0% inflation they would have failed miserably. The simple fact is they want inflation and they need the US government to tax and go deeply indebted for them to grow and gain more power.

    In the end money creation is political. The growth of money supply by government allows them to spend more than they get in taxes, makes them more powerful, richer, and control a greater percent of GDP. The Federal Reserve in turn gains more control of the system of wealth and puts the banks in thrall to it leading America closer and closer to a single national bank which controls all wealth making it economically godlike and is the dream of any central banker.

    It is foolish to think that the aim of anyone in the system wants to actually have no inflation. The destruction of current money is their aim and why today the US is hell bent on flooding the market with new money built on mountains on new government debt and primary funny money printed by the Federal Reserve via QE. The constant destruction of the value of the dollar is the aim of both central bank and government. It puts the public in an Alice and Wonderland economic world where they must constantly run just to stay in place.
    Jun 10, 2010. 12:39 PM | 3 Likes Like |Link to Comment
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