User 142738's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/142738/comments http://seekingalpha.com/article/174998-just-call-us-subprime-sam?source=feed#comment-775552 775552 Probably because being an armchair activist has never solved any problem in the history of mankind, ever.

"Somebody should do something! Yeah, somebody! Oh no, not me; I'm busy! Don't criticize me for not doing anything! If you criticize me for not doing anything you're a government shill!"

Write a letter or something.]]> Tue, 24 Nov 2009 14:11:09 -0500 Probably because being an armchair activist has never solved any problem in the history of mankind, ever.

"Somebody should do something! Yeah, somebody! Oh no, not me; I'm busy! Don't criticize me for not doing anything! If you criticize me for not doing anything you're a government shill!"

Write a letter or something.]]> http://seekingalpha.com/article/160509-china-becoming-a-middle-class-nation?source=feed#comment-668951 668951

On Sep 09 11:20 AM Jeff Nielson wrote:

> Huangthomas,
>
> You obviously could use a refresher course in arithmetic. I will
> accept your figure of 100 million Chinese living in poverty - and
> point out that is SIGNIFICANTLY less than 10% of the population.
>
>
> Neither the U.S. nor Canada can match that poverty-rate, and I doubt
> there are many European nations with such a low poverty-rate.]]> Wed, 09 Sep 2009 13:02:23 -0400

On Sep 09 11:20 AM Jeff Nielson wrote:

> Huangthomas,
>
> You obviously could use a refresher course in arithmetic. I will
> accept your figure of 100 million Chinese living in poverty - and
> point out that is SIGNIFICANTLY less than 10% of the population.
>
>
> Neither the U.S. nor Canada can match that poverty-rate, and I doubt
> there are many European nations with such a low poverty-rate.]]> http://seekingalpha.com/article/145919-savings-rates-surge-who-is-going-to-consume?source=feed#comment-567872 567872
If savings was defined as raising equity then the savings rate wouldn't have been zero since people were borrowing money to buy houses and stocks that were appreciating in value faster than the debt was appreciating in value.]]> Mon, 29 Jun 2009 23:15:55 -0400
If savings was defined as raising equity then the savings rate wouldn't have been zero since people were borrowing money to buy houses and stocks that were appreciating in value faster than the debt was appreciating in value.]]> http://seekingalpha.com/article/144143-china-counterattacks-with-a-buy-china-policy?source=feed#comment-554077 554077 Fri, 19 Jun 2009 13:29:08 -0400 http://seekingalpha.com/article/141571-china-shipping-and-the-great-commodity-carry-trade?source=feed#comment-534861 534861
The Chinese monetary system fixed the price of silver to copper, not to gold. There was no fixed silver-gold exchange rate in China until 1930, and it only lasted until the end of WWII. The exchange rate was 5,590g silver to 90.28g gold, or about 62:1.]]> Sat, 06 Jun 2009 11:38:27 -0400
The Chinese monetary system fixed the price of silver to copper, not to gold. There was no fixed silver-gold exchange rate in China until 1930, and it only lasted until the end of WWII. The exchange rate was 5,590g silver to 90.28g gold, or about 62:1.]]> http://seekingalpha.com/article/140750-gold-is-moving-treasury-bubble-bursting?source=feed#comment-529237 529237
(Translation: I’m trying to compare Obama to Hitler by referring to a piece of hearsay.)]]> Tue, 02 Jun 2009 23:33:01 -0400
(Translation: I’m trying to compare Obama to Hitler by referring to a piece of hearsay.)]]> http://seekingalpha.com/article/112535-the-manipulation-of-gold-and-silver-prices?source=feed#comment-524623 524623
“Hedge funds dumping positions to raise cash are not the cause of the drop in price”
Ah, so when people sell bullion and futures it’s supposed to cause the price to go up? Last time I checked, higher supply and lower demand leads to lower prices.

“…long positions had to be liquidated due to the illegal short selling that is so easy under the US fascist regime.”
So this amazing power is both impotent and omnipotent? And since when is it illegal to short-sell a security? Are we trading gold in New York or stock in Melbourne or Shanghai?

“Plausible?”
If there was any failure to deliver gold and silver, it would be plausible. So far there has been none.

Remember: the price you pay per ounce for a very large bar of any metal (not just gold and silver) is typically lower than the price you may pay for a one-ounce minted round or bar. Aluminum foil at your local supermarket costs far more than 66¢ per pound. Is there a giant aluminum price suppression scheme afoot? Is this a plot by the Aluminiummati?]]> Sat, 30 May 2009 19:46:28 -0400
“Hedge funds dumping positions to raise cash are not the cause of the drop in price”
Ah, so when people sell bullion and futures it’s supposed to cause the price to go up? Last time I checked, higher supply and lower demand leads to lower prices.

“…long positions had to be liquidated due to the illegal short selling that is so easy under the US fascist regime.”
So this amazing power is both impotent and omnipotent? And since when is it illegal to short-sell a security? Are we trading gold in New York or stock in Melbourne or Shanghai?

“Plausible?”
If there was any failure to deliver gold and silver, it would be plausible. So far there has been none.

Remember: the price you pay per ounce for a very large bar of any metal (not just gold and silver) is typically lower than the price you may pay for a one-ounce minted round or bar. Aluminum foil at your local supermarket costs far more than 66¢ per pound. Is there a giant aluminum price suppression scheme afoot? Is this a plot by the Aluminiummati?]]> http://seekingalpha.com/article/140060-u-s-hyperinflation-is-faber-s-prediction-realistic?source=feed#comment-522435 522435
> "It is hard to equate the market savvy Obama administration with
> the corrupt court of Robert Mugabe..."
>
> WHAT???? You have to be kidding!
Mugabe’s reign of terror is decades in the making. Unless Obama makes it illegal for white people to own farmland and denies the existence of cholera I would say the Zimbabwe-U.S. comparison is ridiculous at the very least.

> It is not the new money printing that causes hyperinflation.
You are partially correct. An extremely high money supply growth rate is merely a symptom of hyperinflation. The loss of faith in the currency is also a symptom. Like influenza, nobody knows how it started: it just exists.

> People outside the US are not obliged to accept our currency in trade for their stuff.
Actually, they are. Zimbabwe’s rampant inflation was a result of the breakdown of the agricultural trade between Zimbabwe and other countries. Mugabe confiscated fertile land and gave it to inexperienced farmers, which caused the agricultural sector to shrink slightly every year. The rate of shrinkage accelerated in the late 1990’s, which coincided with the sudden rise in inflation. With lower demand for Zimbabwean goods and a constant money supply, the value of the Zimbabwean dollar began to fall. Mugabe (actually, Gideon Gono, the president of the Reserve Bank of Zimbabwe) actually instated a policy where military personnel would receive continuous pay raises. Most of the printed money simply went into the hands of militants, who then used it to buy South African rand, Botswanan pula and the U.S. dollar almost immediately after being paid. Very high money velocity multiplied by very high money supply growth equals very high inflation.

The amount of debt relative to the economy (tens of thousands of percent in Zimbabwe versus 80% or so in the U.S.) and the money supply growth (several quintillion percent in Zimbabwe versus about 12% in the U.S.) The money supply growth in China is 26% — does this mean China will experience superhyperinflation? Russia's money supply growth, as well as the money velocity, is even higher than that. Will Russia experience megasuperhyperinflation?

No economist can possibly give a solid definition of hyperinflation. Its definition can only be compared to the definition of “obscene material” as by the U.S. Supreme Court (“I know it when I see it”). We know the symptoms and the damage, but there are so many exceptions to every rule that it simply cannot be defined.

> I cannot believe the level of gullibility that some Americans display.
Leading by example, I see.]]> Fri, 29 May 2009 00:18:06 -0400
> "It is hard to equate the market savvy Obama administration with
> the corrupt court of Robert Mugabe..."
>
> WHAT???? You have to be kidding!
Mugabe’s reign of terror is decades in the making. Unless Obama makes it illegal for white people to own farmland and denies the existence of cholera I would say the Zimbabwe-U.S. comparison is ridiculous at the very least.

> It is not the new money printing that causes hyperinflation.
You are partially correct. An extremely high money supply growth rate is merely a symptom of hyperinflation. The loss of faith in the currency is also a symptom. Like influenza, nobody knows how it started: it just exists.

> People outside the US are not obliged to accept our currency in trade for their stuff.
Actually, they are. Zimbabwe’s rampant inflation was a result of the breakdown of the agricultural trade between Zimbabwe and other countries. Mugabe confiscated fertile land and gave it to inexperienced farmers, which caused the agricultural sector to shrink slightly every year. The rate of shrinkage accelerated in the late 1990’s, which coincided with the sudden rise in inflation. With lower demand for Zimbabwean goods and a constant money supply, the value of the Zimbabwean dollar began to fall. Mugabe (actually, Gideon Gono, the president of the Reserve Bank of Zimbabwe) actually instated a policy where military personnel would receive continuous pay raises. Most of the printed money simply went into the hands of militants, who then used it to buy South African rand, Botswanan pula and the U.S. dollar almost immediately after being paid. Very high money velocity multiplied by very high money supply growth equals very high inflation.

The amount of debt relative to the economy (tens of thousands of percent in Zimbabwe versus 80% or so in the U.S.) and the money supply growth (several quintillion percent in Zimbabwe versus about 12% in the U.S.) The money supply growth in China is 26% — does this mean China will experience superhyperinflation? Russia's money supply growth, as well as the money velocity, is even higher than that. Will Russia experience megasuperhyperinflation?

No economist can possibly give a solid definition of hyperinflation. Its definition can only be compared to the definition of “obscene material” as by the U.S. Supreme Court (“I know it when I see it”). We know the symptoms and the damage, but there are so many exceptions to every rule that it simply cannot be defined.

> I cannot believe the level of gullibility that some Americans display.
Leading by example, I see.]]> http://seekingalpha.com/article/139650-the-fed-s-balance-sheet?source=feed#comment-522383 522383
Actually, that would be a 50% devaluation.

Case in point: it took 800 Korean won to buy a dollar a few years ago. When the value of the Korean won fell to the point where it took 1600 won to buy a dollar, its value fell by half.]]> Thu, 28 May 2009 23:24:30 -0400
Actually, that would be a 50% devaluation.

Case in point: it took 800 Korean won to buy a dollar a few years ago. When the value of the Korean won fell to the point where it took 1600 won to buy a dollar, its value fell by half.]]> http://seekingalpha.com/article/137860-nouriel-roubini-s-bullish-on-the-chinese-yuan-think-twice-before-buying-it-in-etf-form?source=feed#comment-505640 505640 Fri, 15 May 2009 14:32:47 -0400 http://seekingalpha.com/article/137043-strong-work-ethic-at-byd-maker-of-electric-cars?source=feed#comment-500762 500762
"In June 2006, Hon Hai took BYD to court in Shenzhen, China, saying BYD stole commercial secrets from Foxconn. The Taiwanese company has complained that the mainland court is dragging its feet in the BYD case." (from an AP article titled "Taiwanese tycoon challenges Buffett's investment")

If you recall, in 2005 Malcolm Bricklin, the same person who had brought Subaru and Yugo brands to the U.S., touted Chery as being a reliable automobile maker that whose "QQ" model was in no way similar to the Chevy Spark/Daewoo Matiz. He planned on opening Chery dealerships in the U.S. by 2008. Long story short, crash tests failed, his investment soured, the plans crumbled and he owes his fellow investors a very large amount of money.]]> Tue, 12 May 2009 13:47:01 -0400
"In June 2006, Hon Hai took BYD to court in Shenzhen, China, saying BYD stole commercial secrets from Foxconn. The Taiwanese company has complained that the mainland court is dragging its feet in the BYD case." (from an AP article titled "Taiwanese tycoon challenges Buffett's investment")

If you recall, in 2005 Malcolm Bricklin, the same person who had brought Subaru and Yugo brands to the U.S., touted Chery as being a reliable automobile maker that whose "QQ" model was in no way similar to the Chevy Spark/Daewoo Matiz. He planned on opening Chery dealerships in the U.S. by 2008. Long story short, crash tests failed, his investment soured, the plans crumbled and he owes his fellow investors a very large amount of money.]]> http://seekingalpha.com/article/131580-the-seduction-of-america?source=feed#comment-469119 469119
[citation needed]]]> Sun, 19 Apr 2009 22:53:44 -0400
[citation needed]]]> http://seekingalpha.com/article/131598-china-looks-to-electrify-our-cars?source=feed#comment-469098 469098
False. Outdated grids have the following characteristics:
• Extremely high variable costs per kilowatt-hour.
• Large subsidies for residential users.
• Spotty coverage or unreliable voltage during non-peak hours.

In the “centralized” areas of the European Union, Asia and Europe you have any combination of those characteristics. In the U.S. and Canada there is none of that. But if you think paying 72¢ per kilowatt-hour is the sign of a great power grid, I’d love to know the name of your utility company.]]> Sun, 19 Apr 2009 22:24:57 -0400
False. Outdated grids have the following characteristics:
• Extremely high variable costs per kilowatt-hour.
• Large subsidies for residential users.
• Spotty coverage or unreliable voltage during non-peak hours.

In the “centralized” areas of the European Union, Asia and Europe you have any combination of those characteristics. In the U.S. and Canada there is none of that. But if you think paying 72¢ per kilowatt-hour is the sign of a great power grid, I’d love to know the name of your utility company.]]> http://seekingalpha.com/article/126123-capitalism-socialism-and-democracy-oh-and-common-sense?source=feed#comment-436045 436045 WMT) offered cheap holiday packages.”

I never knew there was a travel agency in Wal-Mart. Is it near the jet airplane aisle or the uranium enrichment department?]]> Sun, 22 Mar 2009 23:18:38 -0400 WMT) offered cheap holiday packages.”

I never knew there was a travel agency in Wal-Mart. Is it near the jet airplane aisle or the uranium enrichment department?]]> http://seekingalpha.com/article/125218-could-apple-and-google-replace-gm-and-citi-in-the-dow?source=feed#comment-421026 421026 Tue, 10 Mar 2009 17:47:23 -0400 http://seekingalpha.com/article/119642-gold-etfs-vs-fort-knox?source=feed#comment-382523 382523 Tue, 10 Feb 2009 12:44:31 -0500 http://seekingalpha.com/article/118103-u-s-debt-default-dollar-collapse-altogether-likely?source=feed#comment-380154 380154 Sun, 08 Feb 2009 16:25:50 -0500 http://seekingalpha.com/article/117617-the-shedlock-schiff-affair-a-chronicle?source=feed#comment-372016 372016
(You heard it here first, folks. The Nikkei is going back up to 40,000 — possibly to 80,000! Why? Because Japan has money in the bank! They have savings! They have burgeoning industry!)

I would give Peter Schiff until January 2012 to either be proven right or wrong. It took investors four years (from 1989 to 1993) to finally be proven wrong about the stock market and real estate bubble in Japan. Shedlock had started picking apart Schiff’s investment portfolio as early as January 2008 when talk of “decoupling” was still strong.]]> Sat, 31 Jan 2009 12:50:13 -0500
(You heard it here first, folks. The Nikkei is going back up to 40,000 — possibly to 80,000! Why? Because Japan has money in the bank! They have savings! They have burgeoning industry!)

I would give Peter Schiff until January 2012 to either be proven right or wrong. It took investors four years (from 1989 to 1993) to finally be proven wrong about the stock market and real estate bubble in Japan. Shedlock had started picking apart Schiff’s investment portfolio as early as January 2008 when talk of “decoupling” was still strong.]]> http://seekingalpha.com/article/112145-u-s-consumption-seems-to-be-the-greatest-currency?source=feed#comment-337295 337295 If you exclude the 8 million barrels or so pumped per day…

“no gold or silver…”
…ignore the mines whose production is only exceeded by South Africa…

“…little gas refining ability…”
…erase the Gulf of Mexico…

“and no manufacturing base.”
…and pretend airplanes don’t exist…

…this author would be absolutely correct.]]> Wed, 24 Dec 2008 02:40:41 -0500 If you exclude the 8 million barrels or so pumped per day…

“no gold or silver…”
…ignore the mines whose production is only exceeded by South Africa…

“…little gas refining ability…”
…erase the Gulf of Mexico…

“and no manufacturing base.”
…and pretend airplanes don’t exist…

…this author would be absolutely correct.]]> http://seekingalpha.com/article/112127-cramer-is-right-about-ultrashort-etfs?source=feed#comment-337253 337253
Pity, too… shorting an ETF consisting mostly of Chinese financial and oil companies should have been a no-brainer, considering their wacky valuations circa 2007.]]> Wed, 24 Dec 2008 00:21:11 -0500
Pity, too… shorting an ETF consisting mostly of Chinese financial and oil companies should have been a no-brainer, considering their wacky valuations circa 2007.]]> http://seekingalpha.com/article/110225-strong-rmb-yen-not-good-for-the-world?source=feed#comment-326858 326858
I use Japan as a recent example of how an export-centric economy utilizes its foreign currency reserves as collateral for issuing debt. This is in conjunction with depreciating the currency. Depreciation of China’s currency was actually part of Deng Xiaoping’s economic plan; off the top of my head, I believe the yuan was devalued from $0.52 to $0.12. The United States did this in the 1930’s (from 0.05 oz. t. gold to 0.024 oz. t. gold), Japan did this in the 1990’s (from $0.0139 to $0.0069), and China will more than likely do this (again) in the 2010’s.

Also, sidney, I wouldn’t give the World Trade Organization too much credit. China collects taxes by levying high tariffs on imports — a no-no for most WTO members. It’s China, not the WTO, that you should be blaming.]]> Thu, 11 Dec 2008 21:01:21 -0500
I use Japan as a recent example of how an export-centric economy utilizes its foreign currency reserves as collateral for issuing debt. This is in conjunction with depreciating the currency. Depreciation of China’s currency was actually part of Deng Xiaoping’s economic plan; off the top of my head, I believe the yuan was devalued from $0.52 to $0.12. The United States did this in the 1930’s (from 0.05 oz. t. gold to 0.024 oz. t. gold), Japan did this in the 1990’s (from $0.0139 to $0.0069), and China will more than likely do this (again) in the 2010’s.

Also, sidney, I wouldn’t give the World Trade Organization too much credit. China collects taxes by levying high tariffs on imports — a no-no for most WTO members. It’s China, not the WTO, that you should be blaming.]]> http://seekingalpha.com/article/109365-gold-demand-may-spoil-the-party-for-new-double-eagle?source=feed#comment-322081 322081 Fri, 05 Dec 2008 16:57:53 -0500 http://seekingalpha.com/article/108965-the-american-crisis-and-the-case-for-an-inflationary-depression?source=feed#comment-321267 321267
In addition, the Japanese government had actually fluctuated between a budget deficit and surplus since the 1960’s. Japan had their last surplus hurrah in the late 1980’s and, after issuing 100-year bonds yielding 0%, quickly went into a permanent budget deficit.

Just thought I would chime in to clear up some historical misconceptions.]]> Thu, 04 Dec 2008 22:56:35 -0500
In addition, the Japanese government had actually fluctuated between a budget deficit and surplus since the 1960’s. Japan had their last surplus hurrah in the late 1980’s and, after issuing 100-year bonds yielding 0%, quickly went into a permanent budget deficit.

Just thought I would chime in to clear up some historical misconceptions.]]> http://seekingalpha.com/article/105506-treasuries-and-the-u-s-dollar-twin-bubbles?source=feed#comment-304580 304580
www.mof.go.jp/english/...

Translated to dollars at a rate of 95.43 yen per dollar, the total government debt is approximately $8.8 trillion. This is up from approximately $5 trillion in 2001.

Furthermore the author justifies such large deficit spending by using the country's savings rate as collateral. Many Japanese keep their money in "dollar accounts," not at the least because the interest rates are higher. Interest gained in dollars are also exempt from local taxes, which can be very high.

Has the history of issued 100-year Japanese bonds been forgotten? This article is rubbish!]]> Wed, 12 Nov 2008 18:44:22 -0500
www.mof.go.jp/english/...

Translated to dollars at a rate of 95.43 yen per dollar, the total government debt is approximately $8.8 trillion. This is up from approximately $5 trillion in 2001.

Furthermore the author justifies such large deficit spending by using the country's savings rate as collateral. Many Japanese keep their money in "dollar accounts," not at the least because the interest rates are higher. Interest gained in dollars are also exempt from local taxes, which can be very high.

Has the history of issued 100-year Japanese bonds been forgotten? This article is rubbish!]]> http://seekingalpha.com/article/105264-what-can-4-trillion-yuan-buy?source=feed#comment-304428 304428 Wed, 12 Nov 2008 15:59:40 -0500 http://seekingalpha.com/article/104120-the-perversion-of-american-capitalism?source=feed#comment-299629 299629
I would have mentioned the huge number of high-growth, low-debt industries in the United States such as Google and Apple, but have you even seen Apple's headquarters? Is Steve Jobs nothing more than a hologram? And Google... do they exist either? I thought Baidu copied Google, but it could be the exact opposite: Baidu created Google! Can you travel back in time to prove otherwise?!

I loved the comment the author made about the British pound becoming the new reserve currency. It was the proverbial nail the coffin for the author's credibility.]]> Thu, 06 Nov 2008 15:15:30 -0500
I would have mentioned the huge number of high-growth, low-debt industries in the United States such as Google and Apple, but have you even seen Apple's headquarters? Is Steve Jobs nothing more than a hologram? And Google... do they exist either? I thought Baidu copied Google, but it could be the exact opposite: Baidu created Google! Can you travel back in time to prove otherwise?!

I loved the comment the author made about the British pound becoming the new reserve currency. It was the proverbial nail the coffin for the author's credibility.]]> http://seekingalpha.com/article/102337-china-wants-the-u-s-dollar-to-drop-dead?source=feed#comment-293020 293020
If a book comes out with the title "The China That Can Say No," then we can worry. Though by then my worries would be with the Shanghai Composite as they should have been with the Nikkei.]]> Tue, 28 Oct 2008 21:23:33 -0400
If a book comes out with the title "The China That Can Say No," then we can worry. Though by then my worries would be with the Shanghai Composite as they should have been with the Nikkei.]]> http://seekingalpha.com/article/98477-iceland-when-too-big-to-fail-becomes-too-big-to-rescue?source=feed#comment-273480 273480 ]]> Sat, 04 Oct 2008 13:28:06 -0400 ]]> http://seekingalpha.com/article/97202-dell-to-put-leds-in-all-its-laptops?source=feed#comment-264129 264129
Also, Cree (“CREE” on NASDAQ), a U.S. company that likes to show off its product in sports arenas.]]> Wed, 24 Sep 2008 18:45:59 -0400
Also, Cree (“CREE” on NASDAQ), a U.S. company that likes to show off its product in sports arenas.]]> http://seekingalpha.com/article/97202-dell-to-put-leds-in-all-its-laptops?source=feed#comment-263965 263965 Wed, 24 Sep 2008 15:56:40 -0400