Whale of Problem
Crucial questions for Dimon to be answered on Friday. How, what, who, why….
Video by Bloomberg.
China’s monetary policy
With all the focus on LIBOR and imploding Europe, investors have almost “forgotten” about China. How is the Chinese monetary policy run and much more, courtesy Also Sprach Analyst.
Just how different China’s monetary policy is run compared to the West? Perhaps not much. They cut and raise interest rates just as everyone else does.
Or not.
China is not different from the rest of the world in a sense that Newton’s three laws of motion and law of universal gravitation work in China just as everywhere else and basic principles of economics hold in China just as in everywhere else. Chinese central bank, just as every other central bank around the world, would like to see better growth in credit when they want to stimulate growth, and tighten monetary policy when they need to fight inflation. In that sense, they are the same. The difference is just how monetary policy is run.
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It’s Time for a New Constitutional Convention
Some thoughts by Biderman.
In my opinion, the US needs a new constitutional convention. The first constitutional convention occurred in 1787. The government created back then has obviously done fantastically well. However, if we continue forward in the direction we are headed, what lies ahead is an almost certain major economic calamity.
In last week’s July 4 video I said that the representative form of government set up in 1787 is not working today and has been taken over by the special interest groups. If you doubt that, read convicted lobbyist, Jack Abramoff’s Capitol Punishment, The Hard Truth About Washington Corruption. If as Abramoff claims it no longer matter who wins elections, because the special interest groups control, and in some cases own, the representatives; well then our current form of representative government, has to be changed before calamity hits. (Video below).
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