tag:blogger.com,1999:blog-5228675828988846905.comments2023-04-10T03:04:23.685-05:00The Pursuit of Financial HappinessMichael J. Schusselehttp://www.blogger.com/profile/05843439166040743124noreply@blogger.comBlogger37125tag:blogger.com,1999:blog-5228675828988846905.post-62436847184666173782012-01-29T22:43:52.957-06:002012-01-29T22:43:52.957-06:00It's one of the massive featured source about ...It's one of the massive featured source about trading...I am really amazed to see this one. The regarding contents and features of this post really enhances my amount of knowledge about it. This information is very beneficial for me in future..hfthttp://tradingtechnologyexpert.blogspot.com/2012/01/hft.htmlnoreply@blogger.comtag:blogger.com,1999:blog-5228675828988846905.post-78100039930455698722011-08-11T15:39:22.991-05:002011-08-11T15:39:22.991-05:00Michael Pettis covers the purchase of hard commodi...Michael Pettis covers the purchase of hard commodities in scenario #3 in this discussion of how the global balance of payments between nations functions.Michael J. Schusselehttps://www.blogger.com/profile/05843439166040743124noreply@blogger.comtag:blogger.com,1999:blog-5228675828988846905.post-22405592801243309642011-08-11T13:24:52.385-05:002011-08-11T13:24:52.385-05:00That a country with a trade surplus must have a ca...That a country with a trade surplus must have a capital account deficit and accumulate either public reserves or private investments in foreign currencies is axiomatic. <br /><br />However, China does not need to be a net accumulator of Dollars. They can use the Dollars they earn in exports to the US to pay for Dollar-based imports such as iron ore, grain, oil, etc. China's commodity imports exceed its US Dollar exports. In other words if you sum China's imports and exports by currency denomination, there is actually no reason for China to accumulate reserves in USD- instead they would accumulate reserves in other currencies (though still the same amount of reserves).Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5228675828988846905.post-11192569223845245882011-07-13T05:00:25.800-05:002011-07-13T05:00:25.800-05:00Iceland Says No ... The island nation may serve as...Iceland Says No ... The island nation may serve as an example for those who want capitalists to operate at their own risk. In a national referendum Saturday, Icelanders, for the second time, voted against a government proposal to pay the big losses of some of their bankers and their foreign customers, with 60% voting "No" and 40% in favor.Bye Videohttp://www.byevideo.comnoreply@blogger.comtag:blogger.com,1999:blog-5228675828988846905.post-5598365677559098642010-12-06T14:43:16.898-06:002010-12-06T14:43:16.898-06:00Request for Congressional Foreclosure Panel to Exa...Request for Congressional Foreclosure Panel to Examine Foreclosure Lawyers <br />http://www.change.org/petitions/view/request_for_congressional_foreclosure_panel_to_examine_foreclosure_lawyers#<br /><br />Lawyers are officers of the court knowledge of applicable laws and civil procedure is not required from mortgage lenders, nor loan servicers. In states that require judicial foreclosures, FORECLOSURE LAWYERS are the ones who file lawsuits to seize and sell property; and lawyers are responsible for filing and recording foreclosure property deeds.<br /><br />An investigation could prove helpful to sorting out whether improper and illegal foreclosure proceedings are linked to any self-dealing conduct disadvantaging lenders, investors, homeowners, and city governments. <br /><br />Inadequate or questionable foreclosure can lead to useless property deeds that impede real estate sales. Increasing numbers of title insurance companies are refusing to cover foreclosed properties; and certain mortgage default claims, are being denied because of defective foreclosure proceedings. . ." <br />http://www.change.org/petitions/view/request_for_congressional_foreclosure_panel_to_examine_foreclosure_lawyers#Barbara Ann Jacksonhttps://www.blogger.com/profile/07744141982092489224noreply@blogger.comtag:blogger.com,1999:blog-5228675828988846905.post-51261174425478704832010-10-22T18:43:30.708-05:002010-10-22T18:43:30.708-05:00What an excellent summary.What an excellent summary.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5228675828988846905.post-57296178455293680922010-10-07T20:16:43.152-05:002010-10-07T20:16:43.152-05:00Re: “... a devaluation of the U. S. dollar.”
If t...Re: “<i>... a devaluation of the U. S. dollar.</i>”<br /><br />If the stated value, of “Federal” Reserve notes, declines enough with respect to copper and nickel, the 1946-2010 U.S. Mint nickels, composed of cupronickel alloy, could become somewhat rare in mass circulation.<br /><br />The October 7th metal value of these nickels is “$0.060639” or 121.27% of face value, according to the “United States Circulating Coinage Intrinsic Value Table” at <a href="http://coinflation.com" rel="nofollow">Coinflation.com</a>.David Wozneyhttp://ocii.com/~dpwozneynoreply@blogger.comtag:blogger.com,1999:blog-5228675828988846905.post-64938300786686667552010-09-19T13:31:25.882-05:002010-09-19T13:31:25.882-05:00There are only four acronums in this article.
GDP...There are only four acronums in this article.<br /><br />GDP, which is Gross Domestic Products, is widely used by main stream media and commonly accepted as indicative of national economic growth.<br /><br />ISM, which is the Institute of Supply Management,has been fully enunciated many times on the radio show and they issue several different economic indexes. This was clearly identified as their manufacturing index.<br /><br />PMI, which is purchasing manufacturer's index, was not spelled out in this article although I refer to it several times during a month of the radio show. There are several different PMI indexes nationally, from other countries, and regionally from different Federal Reserve Banks. Even the referenced link does not spell PMI out despite using it repeatedly. I can see how someone who is not in business (it has direct effect on business costs and consumer prices), or has not studied economics in even a general survey course as everyone should, might have to look this up.<br /><br />VAT is clearly defined as a sales tax applied nationally.<br /><br />I appreciate the comments. Thank you.Michael J. Schusselehttps://www.blogger.com/profile/05843439166040743124noreply@blogger.comtag:blogger.com,1999:blog-5228675828988846905.post-86691347591490932072010-09-19T12:00:57.116-05:002010-09-19T12:00:57.116-05:00You're honest and you're the real deal. Ho...You're honest and you're the real deal. However, it seems that there is a problem of "fog factor" from jargon and acronyms that most of us don't know. If you're trying to capture the teachers, small business owners and most of still working we DON'T HAVE TIME to look up each of these acronyms. This article is a good example.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5228675828988846905.post-70438377155504133252010-09-18T08:44:46.282-05:002010-09-18T08:44:46.282-05:00Thank you for doing this work. I'm not sure wh...Thank you for doing this work. I'm not sure what to do now, but I see much reason for concern here.<br /><br />Concerned teacher in a family of teachersAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5228675828988846905.post-65795415129173087182010-09-05T13:42:29.135-05:002010-09-05T13:42:29.135-05:00I was a little lost at first reading this, due to ...I was a little lost at first reading this, due to the jargon. When I finally figured it out, I was okay. Challenging us to think more is good. Maybe the more we know about such things, the less likely mistakes like the financial crisis and people not understanding their mortgages can prevent repeats in the future.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5228675828988846905.post-78176511841433374812010-09-04T17:24:50.360-05:002010-09-04T17:24:50.360-05:00Michael's blog and air show are great. He'...Michael's blog and air show are great. He's here to inform us, not to entertain. Economic news is IT today, and he helps us to understand our world.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5228675828988846905.post-88136587836403467922010-09-02T23:54:20.108-05:002010-09-02T23:54:20.108-05:00Admiring the time and effort you put into your blo...Admiring the time and effort you put into your blog and detailed information you offer! I will bookmark your blog.I'm new here and loving the post! Thanks for sharing this great info!<br /><br /><br /><a href="http://savinginvestments.co.uk/" rel="nofollow">investment</a>Unknownhttps://www.blogger.com/profile/07952726678203547887noreply@blogger.comtag:blogger.com,1999:blog-5228675828988846905.post-1409100671453564732010-08-02T22:43:07.360-05:002010-08-02T22:43:07.360-05:00You want to know how they are going to do it. They...You want to know how they are going to do it. They will use their SOE Cartel Abusers and I am going to stop them. You want to ride with me and stop their absues SOE Cartels from destroying the world economics a second time. Read my blogpost and get ready for a bumpy ride. Ride Baby ride. <br />http://rideriantieconomicwarfare.blogspot.com/<br />Ride Baby ride, <br /><br />Rider I riding by.Rider Ihttps://www.blogger.com/profile/02957139149569028742noreply@blogger.comtag:blogger.com,1999:blog-5228675828988846905.post-38963569902874227282010-05-21T12:25:59.980-05:002010-05-21T12:25:59.980-05:00The above appears to be on-going litigation and th...The above appears to be on-going litigation and the reader should view the detailed information at the above web address to form your own opinion as to merit.<br /><br />I have, on several occasions, commented on Federal and some State court decisions which have thrown out foreclosures because the mortgages had not been changed to reflect the correct owners after being transferred via a derivative bundle.<br /><br />Felix Salmon in a post today comments on a Litton withdrawal from foreclosure:<br />http://blogs.reuters.com/felix-salmon/2010/05/21/good-news-friday-litton-withdraws-in-ohio/Michael J. Schusselehttps://www.blogger.com/profile/05843439166040743124noreply@blogger.comtag:blogger.com,1999:blog-5228675828988846905.post-72883503747998689502010-04-04T15:07:47.299-05:002010-04-04T15:07:47.299-05:00As a Canadian, I feel it necessary to say a few th...As a Canadian, I feel it necessary to say a few things: 1) There is a definite housing bubble in the major Canadian cities, look at the demographica housing report, it is now more expensive to live in Vancouver than London (using income) and most people cannot afford a decent home in the major cities (Calgary, Toronto, Van, Ottawa), where virtually all our population lives; 2) Also, Canadians may be forced to buy insurance if they don't have a 20% downpayment, but look at the CMHC(our fannie/freddie) website, they do securitize and sell of bundles of mortgages, and even more worrying, virtually all the Canadian banks demanded that people take out mortgage insurance and that the gov't implicity back the debt, otherwise they wouldn't lend to them; and 3) A lot of the difference is cultural, while no doubt Bay Street bankers are a greedy bunch, just look at what Gord Nixon (CEO of RBC bank) made the last couple of years, its not even the pocket change from a mid level nobody at Goldman or Hedge Fund.TysonfromCanadanoreply@blogger.comtag:blogger.com,1999:blog-5228675828988846905.post-51317771494200206652010-04-04T14:11:15.340-05:002010-04-04T14:11:15.340-05:00In Canada federal election campaigns are largely f...In Canada federal election campaigns are largely financed by the state. Although private campaign donations are allowed they can only be made by a voter and not by unions or corporations. There is a low limit on private donations and on overall spending. As a result our politicians are not quite as ready to sell the public interest down the river in return for campaign contributions from lobbyists.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5228675828988846905.post-30830480742112159192010-04-04T11:55:10.093-05:002010-04-04T11:55:10.093-05:00What about CMHC and it's build up of debt to f...What about CMHC and it's build up of debt to fuel the housing bubble? <br /><br />Risk of loss severe there if real estate slumps, and taxpayers will have to cover the losses.<br /><br />I don't see a lot of difference to the US from a high altitude - both had Government and systemic Banking support blowing up the bubble and taxpayers get the bill. Different roads came to the same end.<br /><br />It's all relative of course, compared to other nations, like currencies. Too many other nations ahead of Canada at the credit slaughterhouse at the moment, and little room to advance. Go Canada.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5228675828988846905.post-86666533703408367492010-04-03T19:36:30.057-05:002010-04-03T19:36:30.057-05:00Interesting post. At the risk of over simplifying...Interesting post. At the risk of over simplifying, I think Canada (along with Australia) evaded the US's problems for one reason: it never developed a 'shadow banking system'; so, the banks were never driven to take on greater credit risk in the face of falling margins.CrocodileChuckhttps://www.blogger.com/profile/10762442097044797842noreply@blogger.comtag:blogger.com,1999:blog-5228675828988846905.post-69890201494713696562010-04-03T05:54:47.152-05:002010-04-03T05:54:47.152-05:00Minor point: I think that in Alberta residential f...Minor point: I think that in Alberta residential firt mortgages are non-recourse [the lender can only repocess the property, but not take action against the mortgagee, unless there is fraud]. So [at least in Alberta] a morgator is even more stongly motivated to make sure that the underlying assets have adequate value, and the morgatee has the character and capacity to service the debt.Kevin Smithhttp://www.smithlaser.comnoreply@blogger.comtag:blogger.com,1999:blog-5228675828988846905.post-40249077650955648742010-04-03T03:38:01.159-05:002010-04-03T03:38:01.159-05:00Simon Johnson's report on Canadian banks was s...Simon Johnson's report on Canadian banks was somewhat misleading. You may want to look at the BofC Financial System Review which I had then consulted, since at the time I was only able to access Canadian data from the OSFI. See below on page 24 (Box 3). <br />http://www.bankofcanada.ca/en/fsr/2008/fsr_1208.pdf<br /> <br />What they stated was very clear. Capital adequacy ratios were significantly higher in Canada than the US, the UK and Euro zone during most of the 2000s. On the other hand, the leverage ratios in Canada were higher than the US commercial banking ratios, as Johnson argues, BUT as the review said, this latter indicator is a bit misleading, since the standard measure of the leverage ratio does not include the total of off-balance-sheet assets which were very much higher in the US commercial banking sector. It is the latter which is more useful to recognize and not the narrow leverage ratio, especially since the whole problem of securitization was much more serious in the US than in Canada revealing all the high stakes risk problem faced by US banks.<br /> <br />This is why what Boone and Johnson say is a bit misleading. However, I do agree that our oligopolistic banking sector has not served us well as consumers of their services! But the fact Canada banks were making oligopolistic profits was probably also a factor (as I said) which did not pressure them to engage in securitization à outrance! Hence, the tradeoff was one of high monopoly profits or high-risk securitization! It's not clear to me that our system is better and certainly at no time would I say that US banking regulators should follow Canada by making the system more concentrated! That would be folly! But, still it did save us from the worst effects of securitization.Marshall Auerbackhttp://www.newdeal20.orgnoreply@blogger.comtag:blogger.com,1999:blog-5228675828988846905.post-46906754196134392922010-03-04T05:16:55.907-06:002010-03-04T05:16:55.907-06:00So you knew Ron Emanual at Harvard? Was he is fina...So you knew Ron Emanual at Harvard? Was he is finance too? But not to worry-- I remember you from the medical school, and you youself are not elitist.<br /><br />Springfield Poor JaneAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5228675828988846905.post-80048452736260172982010-02-08T10:33:50.638-06:002010-02-08T10:33:50.638-06:00The Greek government is in this mess, precisely be...The Greek government is in this mess, precisely because carefully targeted public spending is beyond its ability. Greeks will not accept outside limits on their government spending, and French and German taxpayers will not accept a blank check to the drunken sailor Greek government (apologies to drunken sailors). Greece will eventually default on its debt, and the other governments of the Euro area will then have to assess whether to bail out their respective banks who will be in line to take that hit. But the bailout will be to those banks, and not the Greek government. It might not happen this year, but it will happen sooner than people think, because no government without a printing press can borrow forever. And when Greece joined the Euro, they gave up their printing press.<br /><br />Bottom line, debt that cannot be repaid will not be repaid.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5228675828988846905.post-34660253569074548372010-02-07T22:11:14.558-06:002010-02-07T22:11:14.558-06:00On the contrary, the comment as posted was a link ...On the contrary, the comment as posted was a link to a post on his blog only and only a link.<br /><br />I have provided the entire text (from that link) which the commenter purposefully did not post as a comment.<br /><br />It is very bad etiquette to make a self-serving link to one's own blog. <br /><br />I never leave comments on other blogs and, if I have something to communicate to another blogger, I communicate directly with them.<br /><br />This area is for comments, not advertising trips.Michael J. Schusselehttps://www.blogger.com/profile/05843439166040743124noreply@blogger.comtag:blogger.com,1999:blog-5228675828988846905.post-71820540586064546322010-02-07T17:24:44.058-06:002010-02-07T17:24:44.058-06:00Removing a selected link makes it more curious!
Pl...Removing a selected link makes it more curious!<br />Plus it assumes on your part that the reader has no critical thinking to discern the fallacy of any rebuttal of any issue legitemately raised.<br /><br /> Now I am more than curious to know what was the reason it was removed b/c you don't give fact based reasons on issue in question other than 'it was link to his blog'<br /><br />Let me make up my own opinion of that!Anonymousnoreply@blogger.com