Pat Shuff's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/266897/comments http://seekingalpha.com/article/178856-review-of-keynes-the-return-of-the-master-and-the-keynes-solution?source=feed#comment-812842 812842 Evidence to date indicates this one will be spent ungetting it.
Liberal broadmindedness extends to careful consideration of both sides of the same side, in this case the debate between big and bigger government. (Will German and Swedish workers be paying Greek public workers wages and national pension, benefit and transfer payments like college and childcare as Florida pays Michigan's?) The riots if they don't because of rising European nationalism (again) if they do will be bloody either way because collectivism is intrinsically red with ink and hemoglobin. Sovereigns ability to bail out subsidiaries is a _can_
kicked down the road until run out of road.

The real debate is between centralized control and technological innovation having come to allow evasion. The other half of this debate is so far beyond this fellow traveler's purview it cannot be seen with the Hubble. ]]> Fri, 18 Dec 2009 17:04:53 -0500 Evidence to date indicates this one will be spent ungetting it.
Liberal broadmindedness extends to careful consideration of both sides of the same side, in this case the debate between big and bigger government. (Will German and Swedish workers be paying Greek public workers wages and national pension, benefit and transfer payments like college and childcare as Florida pays Michigan's?) The riots if they don't because of rising European nationalism (again) if they do will be bloody either way because collectivism is intrinsically red with ink and hemoglobin. Sovereigns ability to bail out subsidiaries is a _can_
kicked down the road until run out of road.

The real debate is between centralized control and technological innovation having come to allow evasion. The other half of this debate is so far beyond this fellow traveler's purview it cannot be seen with the Hubble. ]]> http://seekingalpha.com/article/178115-shrinking-america-s-debt-burden-maybe?source=feed#comment-805507 805507
Those trends do not, however, necessarily indicate that Americans have paid down their debts and are starting to lead the more frugal lives that some financial planners have been recommending for years. There has undoubtedly been some of that, but the declines also indicate that banks have been forced to write off a lot of bad debts and have grown more stingy in granting credit . . .”

www.ritholtz.com/blog/.../

Writing down welched private debt with nuclear-powered printing press output also shrinks public debt. Oughta work (except for the unemployment.) As with any Ponzi scheme be sure to be amongst the first in line, later recipients tend to get short shrifted. See: Bernie & friends. ]]> Mon, 14 Dec 2009 15:50:35 -0500
Those trends do not, however, necessarily indicate that Americans have paid down their debts and are starting to lead the more frugal lives that some financial planners have been recommending for years. There has undoubtedly been some of that, but the declines also indicate that banks have been forced to write off a lot of bad debts and have grown more stingy in granting credit . . .”

www.ritholtz.com/blog/.../

Writing down welched private debt with nuclear-powered printing press output also shrinks public debt. Oughta work (except for the unemployment.) As with any Ponzi scheme be sure to be amongst the first in line, later recipients tend to get short shrifted. See: Bernie & friends. ]]> http://seekingalpha.com/article/176752-safety-yield-and-total-return-in-preferred-stock-floaters-of-goldman-sachs-and-metlife?source=feed#comment-793766 793766
With money market and CD rates at historical lows interest rates have nowhere to go but up. These investment grade floating preferreds are better credit quality than the typical floating rate mutual fund. ]]> Mon, 07 Dec 2009 07:00:43 -0500
With money market and CD rates at historical lows interest rates have nowhere to go but up. These investment grade floating preferreds are better credit quality than the typical floating rate mutual fund. ]]> http://seekingalpha.com/article/174866-the-role-of-the-database-in-the-financial-crisis?source=feed#comment-773653 773653
www.nytimes.com/2008/1...

But we are suggesting neither that the human race would voluntarily turn power over to the machines nor that the machines would willfully seize power. What we do suggest is that the human race might easily permit itself to drift into a position of such dependence on the machines that it would have no practical choice but to accept all of the machines’ decisions. ... Eventually a stage may be reached at which the decisions necessary to keep the system running will be so complex that human beings will be incapable of making them intelligently. At that stage the machines will be in effective control. People won’t be able to just turn the machines off, because they will be so dependent on them that turning them off would amount to suicide.

-- the Unabomber]]> Mon, 23 Nov 2009 13:22:33 -0500
www.nytimes.com/2008/1...

But we are suggesting neither that the human race would voluntarily turn power over to the machines nor that the machines would willfully seize power. What we do suggest is that the human race might easily permit itself to drift into a position of such dependence on the machines that it would have no practical choice but to accept all of the machines’ decisions. ... Eventually a stage may be reached at which the decisions necessary to keep the system running will be so complex that human beings will be incapable of making them intelligently. At that stage the machines will be in effective control. People won’t be able to just turn the machines off, because they will be so dependent on them that turning them off would amount to suicide.

-- the Unabomber]]> http://seekingalpha.com/article/172955-new-junior-gold-miners-etf-launches-as-volatile-as-it-gets?source=feed#comment-757481 757481

– The VanBorgETF]]> Thu, 12 Nov 2009 13:49:26 -0500

– The VanBorgETF]]> http://seekingalpha.com/article/171619-brits-more-critical-about-quantitative-easing-than-americans?source=feed#comment-749625 749625 Hoovering up the bezzle with appropriately sized jet turbine
powered suction. Expropriating the property of the haves
for showering on the have nots and antisocial engineering
programs tends to evaporate in the altitudes before
moistening the ground at the Animal Farm. When one
hears 'teabagger' fondly uttered for its undertones of
cutesie-tootsie perverted sexual act innuendo, in all
feminization fairness, the Golden Showerers are saying it. ]]> Sat, 07 Nov 2009 06:26:28 -0500 Hoovering up the bezzle with appropriately sized jet turbine
powered suction. Expropriating the property of the haves
for showering on the have nots and antisocial engineering
programs tends to evaporate in the altitudes before
moistening the ground at the Animal Farm. When one
hears 'teabagger' fondly uttered for its undertones of
cutesie-tootsie perverted sexual act innuendo, in all
feminization fairness, the Golden Showerers are saying it. ]]> http://seekingalpha.com/article/171849-the-fed-sending-investors-to-the-slaughter?source=feed#comment-748621 748621
The Joint Overheated Waffle Iron Survey predicts the
same Fahreheit 451 the survey results have been pegged
at since first gathered in the Kennedy Administration,
resulting in the building code requirement of hard-wired
smoke alarms in all new construction. They recommended
remote monitoring of all new and existing alarms be
consolidated at the Federal Reserve along with all things
regulatory, aside from their morning constitutional or
anything constitutional.

In testimony before Congress, Chairman
Barney "Brutally" Frank tabled the proposal, displaying
more interest in the brutality than the frankness upon
upon which the TV Parental Guidelines Council promptly
and finally jerked C-Span's general audience rating
after years of complaints from any mature, thinking adult
of the need to shield their eyes from that network.

Investors examining the Waffle Iron report and stymied
by years of the casino lobby failing to enact meaningful
online gaming reform, perennially outbid by the deeper
pocketed financial services sector, placed their bets
on red, black or aiming in the general Direxion of the
bull's eye, double-00 and triple-000 lever actioned,
double-barrelled rushin' roulette figuring that with most of
the buck shot hitting home, what with The Family moving
back in, everyone must still be Fed.


www.kids-safety-klub.c...]]> Fri, 06 Nov 2009 15:12:03 -0500
The Joint Overheated Waffle Iron Survey predicts the
same Fahreheit 451 the survey results have been pegged
at since first gathered in the Kennedy Administration,
resulting in the building code requirement of hard-wired
smoke alarms in all new construction. They recommended
remote monitoring of all new and existing alarms be
consolidated at the Federal Reserve along with all things
regulatory, aside from their morning constitutional or
anything constitutional.

In testimony before Congress, Chairman
Barney "Brutally" Frank tabled the proposal, displaying
more interest in the brutality than the frankness upon
upon which the TV Parental Guidelines Council promptly
and finally jerked C-Span's general audience rating
after years of complaints from any mature, thinking adult
of the need to shield their eyes from that network.

Investors examining the Waffle Iron report and stymied
by years of the casino lobby failing to enact meaningful
online gaming reform, perennially outbid by the deeper
pocketed financial services sector, placed their bets
on red, black or aiming in the general Direxion of the
bull's eye, double-00 and triple-000 lever actioned,
double-barrelled rushin' roulette figuring that with most of
the buck shot hitting home, what with The Family moving
back in, everyone must still be Fed.


www.kids-safety-klub.c...]]> http://seekingalpha.com/article/170880-investors-interested-in-farmland-again?source=feed#comment-743109 743109 Also holding Sprott Resources which is doing some innovative things. Slight correction to the above post,
the First Nation farmland is leased not owned. Twenty
percent of the balance sheet is silver/gold bullion in
the vault of Bank of Nova Scotia.]]> Tue, 03 Nov 2009 17:26:31 -0500 Also holding Sprott Resources which is doing some innovative things. Slight correction to the above post,
the First Nation farmland is leased not owned. Twenty
percent of the balance sheet is silver/gold bullion in
the vault of Bank of Nova Scotia.]]> http://seekingalpha.com/article/169048-stephen-roach-on-why-he-loves-china?source=feed#comment-732037 732037 Tue, 27 Oct 2009 08:41:05 -0400 http://seekingalpha.com/article/168769-california-legislators-got-drunk-on-stock-market-gains?source=feed#comment-731141 731141
www.youtube.com/watch?...]]> Mon, 26 Oct 2009 15:08:45 -0400
www.youtube.com/watch?...]]> http://seekingalpha.com/article/168798-why-is-zero-hedge-claiming-fed-intervention-in-equities-markets?source=feed#comment-730958 730958 Mon, 26 Oct 2009 13:37:42 -0400 http://seekingalpha.com/article/168544-what-copper-s-breakout-means?source=feed#comment-728573 728573
~~~~~~~~~~~~~~~~~~~~~~...

A PhD in economics and the ability to forecast future economic activity have been long proven to be mutually exclusive. One or the other, not both. Perhaps 'copper,
the idiot savant?']]> Sat, 24 Oct 2009 15:26:32 -0400
~~~~~~~~~~~~~~~~~~~~~~...

A PhD in economics and the ability to forecast future economic activity have been long proven to be mutually exclusive. One or the other, not both. Perhaps 'copper,
the idiot savant?']]> http://seekingalpha.com/article/165053-threat-to-petrodollar-sees-gold-surge-to-near-record-highs?source=feed#comment-704803 704803
www.scientificamerican...

Fisking: en.wikipedia.org/wiki/...

As for Robert Fisk himself, in a 2005 interview he stated that he was unaware of the term. "I have to be honest: I don't use the Internet. I've never seen a blog in my life. I don't even use email, I don't waste my time with this. I am not interested. I couldn't care less. I think the Internet has become a hate machine for a lot of people and I want nothing to do with it."[6]

~~~~~~~~~~~~~~~~~~~

Please tell Matt this breaking of rank is the actual news of the day. Apparently sidecreek media, chattering head arbiters of all things weighty and meaty, get their bones to chew fresh from Drudge's butchershop. One gets the sense of him sitting there in that goofy hat pulling on their marionette strings when he deigns to toy with them just to watch'm dance.]]> Tue, 06 Oct 2009 08:47:08 -0400
www.scientificamerican...

Fisking: en.wikipedia.org/wiki/...

As for Robert Fisk himself, in a 2005 interview he stated that he was unaware of the term. "I have to be honest: I don't use the Internet. I've never seen a blog in my life. I don't even use email, I don't waste my time with this. I am not interested. I couldn't care less. I think the Internet has become a hate machine for a lot of people and I want nothing to do with it."[6]

~~~~~~~~~~~~~~~~~~~

Please tell Matt this breaking of rank is the actual news of the day. Apparently sidecreek media, chattering head arbiters of all things weighty and meaty, get their bones to chew fresh from Drudge's butchershop. One gets the sense of him sitting there in that goofy hat pulling on their marionette strings when he deigns to toy with them just to watch'm dance.]]> http://seekingalpha.com/article/164002-wsj-preps-for-an-fha-ginnie-mae-bailout?source=feed#comment-696919 696919 Wed, 30 Sep 2009 11:56:52 -0400 http://seekingalpha.com/article/160879-the-depressing-income-and-poverty-data?source=feed#comment-670665 670665
Height brings happiness, according to a study that also suggested tall people are more likely to have higher levels of income and education than smaller peers.

www.bloomberg.com/apps...

This study suggests stretching the lower income quintile on a medieval torture rack may be of help. It couldn't be any worse of a stretch than another Salmon contribution.]]> Thu, 10 Sep 2009 14:04:17 -0400
Height brings happiness, according to a study that also suggested tall people are more likely to have higher levels of income and education than smaller peers.

www.bloomberg.com/apps...

This study suggests stretching the lower income quintile on a medieval torture rack may be of help. It couldn't be any worse of a stretch than another Salmon contribution.]]> http://seekingalpha.com/article/160720-investing-and-genetics?source=feed#comment-670627 670627
www.cxoadvisory.com/bl.../

relatedly--

according to a study that also suggested tall people are more likely to have higher levels of income and education than smaller peers.

“There is good evidence that cognitive and physical function develop together,” the researchers said. “It is this lack of full cognitive development that accounts for lower levels of education, and lower earnings in adulthood which, in turn, are almost entirely responsible for lower levels of life evaluation, and poorer emotional outcomes.”

www.bloomberg.com/apps...

]]> Thu, 10 Sep 2009 13:45:45 -0400
www.cxoadvisory.com/bl.../

relatedly--

according to a study that also suggested tall people are more likely to have higher levels of income and education than smaller peers.

“There is good evidence that cognitive and physical function develop together,” the researchers said. “It is this lack of full cognitive development that accounts for lower levels of education, and lower earnings in adulthood which, in turn, are almost entirely responsible for lower levels of life evaluation, and poorer emotional outcomes.”

www.bloomberg.com/apps...

]]> http://seekingalpha.com/article/160463-the-fha-meltdown?source=feed#comment-667806 667806 Wed, 09 Sep 2009 08:45:24 -0400 http://seekingalpha.com/article/160279-government-policies-to-correct-unfairness-inherently-unfair?source=feed#comment-665349 665349 Imposed at the refinery, collected at the gas pump. Taxed at the corporate level, collected at the retail level at the cash register, the utility bill, the insurance premium. Don't tax me, don't tax thee, tax the man behind the tree. But there is nobody there. Borrowing half of what is spent at the federal level will also be borne across all segments of society, despite 'fair share' sales and marketing to the contrary. And anyone who doesn't like it will just have to be reeducated and learn to lump it. Enjoy the camping.

Hello muddah, hello faddah
Here I am at Camp Piñata.]]> Mon, 07 Sep 2009 14:03:31 -0400 Imposed at the refinery, collected at the gas pump. Taxed at the corporate level, collected at the retail level at the cash register, the utility bill, the insurance premium. Don't tax me, don't tax thee, tax the man behind the tree. But there is nobody there. Borrowing half of what is spent at the federal level will also be borne across all segments of society, despite 'fair share' sales and marketing to the contrary. And anyone who doesn't like it will just have to be reeducated and learn to lump it. Enjoy the camping.

Hello muddah, hello faddah
Here I am at Camp Piñata.]]> http://seekingalpha.com/article/160213-investing-in-farmland-considering-schober-s-article?source=feed#comment-665180 665180
Canadian farmland investment premise from Agcapita Partners LP:

www.farmlandinvestment...

Zero till farming allows credits to be claimed in both Alberta and Saskatchewan currently.

Vehicles for mining carbon credits, turning green into green?

hillandpartners.com/04...

www.smalldeadanimals.c...

How it works
According to Alberta regulations, carbon credits can be generated through various methods. One attracting the most attention is through “no till” practices in the agriculture industry.

“Basically, no-till means that instead of tilling their land, farmers would do direct seeding. This process removes carbon from the air and stores it in the soil,” explains Larry Ruud, Meyers Norris Penny’s director of intensive livestock.

Larry adds that most businesses generating carbon credits will want to use an aggregator or carbon credit trader to help market the credits. Aggregators pool the carbon credits from farmers and other sources, then market them to utilities and other major companies to offset their own emissions. Meyers Norris Penny held information seminars on the new industry in February 2008.

“Carbon credit trading is an emerging market. It rewards farmers and others for pursuing more carbon-neutral ways of doing business.”

]]> Mon, 07 Sep 2009 12:03:19 -0400
Canadian farmland investment premise from Agcapita Partners LP:

www.farmlandinvestment...

Zero till farming allows credits to be claimed in both Alberta and Saskatchewan currently.

Vehicles for mining carbon credits, turning green into green?

hillandpartners.com/04...

www.smalldeadanimals.c...

How it works
According to Alberta regulations, carbon credits can be generated through various methods. One attracting the most attention is through “no till” practices in the agriculture industry.

“Basically, no-till means that instead of tilling their land, farmers would do direct seeding. This process removes carbon from the air and stores it in the soil,” explains Larry Ruud, Meyers Norris Penny’s director of intensive livestock.

Larry adds that most businesses generating carbon credits will want to use an aggregator or carbon credit trader to help market the credits. Aggregators pool the carbon credits from farmers and other sources, then market them to utilities and other major companies to offset their own emissions. Meyers Norris Penny held information seminars on the new industry in February 2008.

“Carbon credit trading is an emerging market. It rewards farmers and others for pursuing more carbon-neutral ways of doing business.”

]]> http://seekingalpha.com/article/160112-an-insider-s-view-of-ginnie-mae-mbs?source=feed#comment-663878 663878
"So, it has reached the point where Washington is underwriting the majority of existing mortgage debt throughout the system and is now backing essentially the entire amount of net new mortgage Credit."
www.prudentbear.com/in...

As the CEO of Freddie Mac noted at the shareholders' meeting they are not managing the enterprise to achieve a profit, they are operating according to marching orders given by their controller to achieve public policy goals which involves employing capital that ensures loss instead of positive returns. That is easier rationalized and justified with other people's money in full faith and confidence that no one has, is or will pay any attention
and be penalized accordingly by the blind poetess of justice.]]> Sun, 06 Sep 2009 10:15:05 -0400
"So, it has reached the point where Washington is underwriting the majority of existing mortgage debt throughout the system and is now backing essentially the entire amount of net new mortgage Credit."
www.prudentbear.com/in...

As the CEO of Freddie Mac noted at the shareholders' meeting they are not managing the enterprise to achieve a profit, they are operating according to marching orders given by their controller to achieve public policy goals which involves employing capital that ensures loss instead of positive returns. That is easier rationalized and justified with other people's money in full faith and confidence that no one has, is or will pay any attention
and be penalized accordingly by the blind poetess of justice.]]> http://seekingalpha.com/article/160120-fannie-and-freddie-sticking-it-to-the-taxpayers?source=feed#comment-663834 663834
So, it has reached the point where Washington is underwriting the majority of existing mortgage debt throughout the system and is now backing essentially the entire amount of net new mortgage Credit.

www.prudentbear.com/in...

Fannie, Freddie, Ginnie, FHA, FHLB, VA have essentially become the Mortgage Dept., the Ministry of Housing.
The cumulative and combined losses are mounting by the month as lending standards are weakened by the week.
In this brave new world of nationalized housing finance replacing the former private capital sources, the solution being sought is to double down with more lax lending standards identical but larger than previous proven failure. ]]> Sun, 06 Sep 2009 09:28:49 -0400
So, it has reached the point where Washington is underwriting the majority of existing mortgage debt throughout the system and is now backing essentially the entire amount of net new mortgage Credit.

www.prudentbear.com/in...

Fannie, Freddie, Ginnie, FHA, FHLB, VA have essentially become the Mortgage Dept., the Ministry of Housing.
The cumulative and combined losses are mounting by the month as lending standards are weakened by the week.
In this brave new world of nationalized housing finance replacing the former private capital sources, the solution being sought is to double down with more lax lending standards identical but larger than previous proven failure. ]]> http://seekingalpha.com/article/159998-hong-kong-recalls-gold-reserves-why-no-news-coverage?source=feed#comment-662382 662382
The new vaults of DMCC (Dubai Multi Commodity Center) will be home to the gold allocated to the Dubai Gold Securities (DGS) Exchange Traded Funds (ETFs). The vault may also become a natural choice for storage of gold reserves by central banks in the regional market, analysts said.

prudentinvestor.blogsp...

First Dubai now Hong Kong. Perhaps just part of the process, if history serves guide, of financial centers migrating to where the money is, the changing domiciles
of capital and savings.]]> Fri, 04 Sep 2009 16:02:25 -0400
The new vaults of DMCC (Dubai Multi Commodity Center) will be home to the gold allocated to the Dubai Gold Securities (DGS) Exchange Traded Funds (ETFs). The vault may also become a natural choice for storage of gold reserves by central banks in the regional market, analysts said.

prudentinvestor.blogsp...

First Dubai now Hong Kong. Perhaps just part of the process, if history serves guide, of financial centers migrating to where the money is, the changing domiciles
of capital and savings.]]> http://seekingalpha.com/article/157562-dws-real-estate-fund-ii-expect-shareholders-to-succeed-with-liquidation-at-full-nav?source=feed#comment-658349 658349
www.sec.gov/Archives/e...]]> Wed, 02 Sep 2009 11:21:43 -0400
www.sec.gov/Archives/e...]]> http://seekingalpha.com/article/158628-externalities-of-the-economic-stimulus-program?source=feed#comment-648706 648706
www.usatoday.com/news/...]]> Thu, 27 Aug 2009 09:40:37 -0400
www.usatoday.com/news/...]]> http://seekingalpha.com/article/158447-u-s-national-debt-deficit-hypocrisy?source=feed#comment-648420 648420 Thu, 27 Aug 2009 07:03:18 -0400 http://seekingalpha.com/article/158330-how-the-federal-reserve-is-monetizing-debt?source=feed#comment-646906 646906 I believe I am the originator of the phrase 'Quantitative easing'. The original Japanese expression is 'ryoteki kinyu kanwa' or 'ryoteki kanwa' for short. Both are, literally translated, 'quantitative easing'.

wanted to avoid expressions such as the figurative 'printing money' and the common 'expanding the money supply', not only because they would unnecessarily alarm Japanese lay readers, but also because these are traditional monetarist prescriptions, which I argued would not work (as the monetarists argued for an expansion of bank reserves). At the time I was chief economist at Jardine Fleming Securities (Asia) Ltd. and Assistant Professor at Tokyo's Sophia University and known as the BoJ's fiercest critic. The Bank of Japan adopted my expression in 2001 as its official policy. The BoJ used exactly my Japanese phrase, and in its English-language press statement literally translated it.

nihoncassandra.blogspo...

There is a certain anodine perfection to the phrase, quantitative easing, unlike anything else in the entire rather utilitarian financial or economic lexicon. It sounds wonderful, functionally-useful tonic, though certainly not dangerous or hazardous to our well-being. Yet it remains sufficiently innocuous so as to escape scrutiny and with it, the associated public examination that prying eyes bear. It is entirely Madison Avenue rather than inflated Goebbels-like propaganda or overly-wooden Soviet or Pyongyang slogans.

nihoncassandra.blogspo...

The Swiss chose 'forceful relaxing' instead of queasing for their printing announcement, same pleasant, sedative connotations. Mr. Dollar go see our euthanasia specialist Kevorkian in Room 101 and just relax, it won't hurt at all.]]> Wed, 26 Aug 2009 08:40:09 -0400 I believe I am the originator of the phrase 'Quantitative easing'. The original Japanese expression is 'ryoteki kinyu kanwa' or 'ryoteki kanwa' for short. Both are, literally translated, 'quantitative easing'.

wanted to avoid expressions such as the figurative 'printing money' and the common 'expanding the money supply', not only because they would unnecessarily alarm Japanese lay readers, but also because these are traditional monetarist prescriptions, which I argued would not work (as the monetarists argued for an expansion of bank reserves). At the time I was chief economist at Jardine Fleming Securities (Asia) Ltd. and Assistant Professor at Tokyo's Sophia University and known as the BoJ's fiercest critic. The Bank of Japan adopted my expression in 2001 as its official policy. The BoJ used exactly my Japanese phrase, and in its English-language press statement literally translated it.

nihoncassandra.blogspo...

There is a certain anodine perfection to the phrase, quantitative easing, unlike anything else in the entire rather utilitarian financial or economic lexicon. It sounds wonderful, functionally-useful tonic, though certainly not dangerous or hazardous to our well-being. Yet it remains sufficiently innocuous so as to escape scrutiny and with it, the associated public examination that prying eyes bear. It is entirely Madison Avenue rather than inflated Goebbels-like propaganda or overly-wooden Soviet or Pyongyang slogans.

nihoncassandra.blogspo...

The Swiss chose 'forceful relaxing' instead of queasing for their printing announcement, same pleasant, sedative connotations. Mr. Dollar go see our euthanasia specialist Kevorkian in Room 101 and just relax, it won't hurt at all.]]> http://seekingalpha.com/article/157484-the-cftc-is-needlessly-breaking-good-products?source=feed#comment-639725 639725 ]]> Fri, 21 Aug 2009 10:56:11 -0400 ]]> http://seekingalpha.com/article/157130-study-shift-computing-to-where-power-is-cheapest?source=feed#comment-638145 638145
Iceland has cheap power, some aluminum smelting migrated there.]]> Thu, 20 Aug 2009 11:48:17 -0400
Iceland has cheap power, some aluminum smelting migrated there.]]> http://seekingalpha.com/article/157236-u-k-continues-to-monetize-debt-this-won-t-end-well?source=feed#comment-637896 637896 I believe I am the originator of the phrase 'Quantitative easing'. The original Japanese expression is 'ryoteki kinyu kanwa' or 'ryoteki kanwa' for short. Both are, literally translated, 'quantitative easing'.

wanted to avoid expressions such as the figurative 'printing money' and the common 'expanding the money supply', not only because they would unnecessarily alarm Japanese lay readers, but also because these are traditional monetarist prescriptions, which I argued would not work (as the monetarists argued for an expansion of bank reserves). At the time I was chief economist at Jardine Fleming Securities (Asia) Ltd. and Assistant Professor at Tokyo's Sophia University and known as the BoJ's fiercest critic. The Bank of Japan adopted my expression in 2001 as its official policy. The BoJ used exactly my Japanese phrase, and in its English-language press statement literally translated it.

nihoncassandra.blogspo...

There is a certain anodine perfection to the phrase, quantitative easing, unlike anything else in the entire rather utilitarian financial or economic lexicon. It sounds wonderful, functionally-useful tonic, though certainly not dangerous or hazardous to our well-being. Yet it remains sufficiently innocuous so as to escape scrutiny and with it, the associated public examination that prying eyes bear. It is entirely Madison Avenue rather than inflated Goebbels-like propaganda or overly-wooden Soviet or Pyongyang slogans.

nihoncassandra.blogspo...

The Swiss chose 'forceful relaxing' instead of queasing for their printing announcement, same pleasant, sedative connotations. Go see our euthanasia specialist Kevorkian in Room 101 and just relax, it won't hurt at all. ]]> Thu, 20 Aug 2009 10:04:54 -0400 I believe I am the originator of the phrase 'Quantitative easing'. The original Japanese expression is 'ryoteki kinyu kanwa' or 'ryoteki kanwa' for short. Both are, literally translated, 'quantitative easing'.

wanted to avoid expressions such as the figurative 'printing money' and the common 'expanding the money supply', not only because they would unnecessarily alarm Japanese lay readers, but also because these are traditional monetarist prescriptions, which I argued would not work (as the monetarists argued for an expansion of bank reserves). At the time I was chief economist at Jardine Fleming Securities (Asia) Ltd. and Assistant Professor at Tokyo's Sophia University and known as the BoJ's fiercest critic. The Bank of Japan adopted my expression in 2001 as its official policy. The BoJ used exactly my Japanese phrase, and in its English-language press statement literally translated it.

nihoncassandra.blogspo...

There is a certain anodine perfection to the phrase, quantitative easing, unlike anything else in the entire rather utilitarian financial or economic lexicon. It sounds wonderful, functionally-useful tonic, though certainly not dangerous or hazardous to our well-being. Yet it remains sufficiently innocuous so as to escape scrutiny and with it, the associated public examination that prying eyes bear. It is entirely Madison Avenue rather than inflated Goebbels-like propaganda or overly-wooden Soviet or Pyongyang slogans.

nihoncassandra.blogspo...

The Swiss chose 'forceful relaxing' instead of queasing for their printing announcement, same pleasant, sedative connotations. Go see our euthanasia specialist Kevorkian in Room 101 and just relax, it won't hurt at all. ]]> http://seekingalpha.com/article/156793-arthur-levitt-defends-high-frequency-trading?source=feed#comment-636631 636631
The nation’s leading financial officials – Levitt, Federal Reserve Chairman Alan Greenspan, Secretary of the Treasury Robert Rubin, and his deputy Lawrence Summers – pummeled the proposal, saying it was dangerous to even discuss the idea. Led by Rubin, Levitt and Greenspan, the Clinton White House instead proposed a modest set of reforms. Months later, Clinton Administration officials walked away from their own recommendations, concluding the market could be best managed by the financial industry.

I was in Brooksley Born’s office when Larry Summers called and said, 'I've got 13 people in my office'," said Greenberger, to whom Born relayed the conversation. Summers told Born that the 13 were industry lobbyists, "and their view is that if you do this, just issue this release, it will cause the worst financial havoc since the end of World War II.”

The day after publication in the Register, Greenspan, Rubin and Levitt issued a news release “seriously question[ing] the scope of the CFTC’s jurisdiction,” and calling for Congress to take the matter out of Born and the Commission’s hands.

Had the proposal gone forward “it would have dramatically changed the situation we find ourselves in now,” he said.

Levitt wishes the Clinton team had acted before derivatives got out of control.

“The market was too large, too explosive in its growth to merely allow pure market forces to suffice as self-regulatory mechanisms,” he said. “I have some regrets about it, clearly.”

www.propublica.org/fea...

Gotta pattern to'r Vern.]]> Wed, 19 Aug 2009 12:16:02 -0400
The nation’s leading financial officials – Levitt, Federal Reserve Chairman Alan Greenspan, Secretary of the Treasury Robert Rubin, and his deputy Lawrence Summers – pummeled the proposal, saying it was dangerous to even discuss the idea. Led by Rubin, Levitt and Greenspan, the Clinton White House instead proposed a modest set of reforms. Months later, Clinton Administration officials walked away from their own recommendations, concluding the market could be best managed by the financial industry.

I was in Brooksley Born’s office when Larry Summers called and said, 'I've got 13 people in my office'," said Greenberger, to whom Born relayed the conversation. Summers told Born that the 13 were industry lobbyists, "and their view is that if you do this, just issue this release, it will cause the worst financial havoc since the end of World War II.”

The day after publication in the Register, Greenspan, Rubin and Levitt issued a news release “seriously question[ing] the scope of the CFTC’s jurisdiction,” and calling for Congress to take the matter out of Born and the Commission’s hands.

Had the proposal gone forward “it would have dramatically changed the situation we find ourselves in now,” he said.

Levitt wishes the Clinton team had acted before derivatives got out of control.

“The market was too large, too explosive in its growth to merely allow pure market forces to suffice as self-regulatory mechanisms,” he said. “I have some regrets about it, clearly.”

www.propublica.org/fea...

Gotta pattern to'r Vern.]]>