Home Articles Friday Pearls of Folly 28 Sep 2012
Friday Pearls of Folly 28 Sep 2012 PDF Print E-mail
Written by Burnham Banks   
Friday, 28 September 2012 02:31

Happy Friday

  • China is going to have another bad year. Time to short German exporters.


  • The CLO trade in the US is done. Apply similar recipe for Europe.


  • The trouble with central banks trying to inflate asset prices is that eventually, hedge funds start shorting something real.


  • Austerity for fiscal balance is like giving up your right arm to be ambidextrous.


  • Governments lie and cheat. So does everyone else but governments do it with impunity, and its part of their standard process.


  • Buy the USD. Every central bank is debasing their currencies but the US have the better print quality.


  • You can rely on human nature. On that basis, expect the economic crisis to escalate into war.


  • The Japanese and Taiwanese have descended into a spitting match in the East China Sea. They do not stand a chance if the Chinese get involved.


  • Consensus in government means you can debate all you want but the final decision is mine.


  • The world's oldest central bank was a failed bank.


  • The world's second oldest bank was a distressed debt hedge fund.


  • All the world's central banks are now pawn shops.
Last Updated on Monday, 01 October 2012 00:42

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