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Moses Kim

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  • The Case for Depression, Part 1: Unemployment [View article]
    "All persons who did any work for pay or profit during the survey week" are considered employed. This includes part-time work for family-based businesses.

    You can get more information here: www.bls.gov/cps/cps_ht...

    Hope this helps!
    Jun 18 09:28 AM | Likes Like |Link to Comment
  • Talks of Recovery Are Premature [View article]
    Old Trader,

    I think we are in agreement here. The Fed has proven powerless to control the long end of the yield curve due to the reasons you stated above amongst others. In essence, the Fed has been overpowered by the market. My point is that the Fed certainly won't speed up the process by raising the Fed Funds rate.

    On Jun 11 05:44 PM Old Trader wrote:

    > "Hence, I believe all talk of the Fed raising interest rates anytime
    > soon are premature."
    >
    > Mr. Kim,
    >
    > The above quote from your article is one that I respectfully take
    > issue with. The short end of the curve will, in likelihood, stay
    > low, but the long end will face increasing pressure upwards. Long
    > term rates will rise as more and more inducement is required to "entice"
    > buyers to US long term debt, which will be issued in ever larger
    > amounts to fund the US deficit. Unfortunately, because the downturn
    > has been global, the US is not the only country issuing copious amounts
    > of debt: the UK and the EU countries are in equally bad shape...perhaps
    > even worse. Today, Italy issued in excess of 8 billion Euros worth
    > of debt of several different maturities (per Bloomberg).
    >
    > All of this debt certainly doesn't bode well for the corporate sector,
    > either, since its no stretch to assume crowding out of private debt
    > will occur.
    Jun 11 07:16 PM | 1 Like Like |Link to Comment
  • Talks of Recovery Are Premature [View article]
    Thanks for the comment.

    I agree that we have to sit down and think long and hard about what went wrong instead of merely throwing money at the problem. We are virtually guaranteeing some kind of major crisis in the future.


    On Jun 11 04:53 AM Dave Wrixon wrote:

    > Talk of recovery is ludicrous.
    >
    > Before recovery can take place, somebody has to get a handle on what
    > went wrong and do something constructive about it.
    >
    > It is a bit like saying that most of the passengers have been rescued
    > so it is safe to fly again. Indeed , it is business as usual.
    >
    > The longer people talk about green shoots, the more I think sustainable
    > recovery is decade away. Take Chrysler, is that seriously going to
    > fly now. We have a partnership between a Union and foreign company
    > that one put up one brass cent. Are you seriously going to go out
    > and buy one. As for all this technological transfer, I have ever
    > got the impression that Europeans think there is anything very special
    > about Fiat, but to read the American press you would think it is
    > the second coming.
    Jun 11 11:26 AM | 1 Like Like |Link to Comment
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