mpettis.com - 8/20/2009
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The Shanghai stock market was up 4.5% in very nervous trading today but down 16.3% since its recent peak at 3478 on August 4, and still trading at more than 30 times earnings. All this turmoil is triggering all sorts of worried comments about the sustainability of the fiscal stimulus package ...
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Paul Kedrosky's Infectious Greed —
Mexico Oil Production to Fall 4.9%, Drop Through 2012 (Bloomberg) Mark Cuban on taxing speculators (Source) Robert Skidelsky on Fictional Sovereignties (Source) Yet another discussion on the Asian savings glut hypothesis, and why it matters (Pettis) Twittering haters cause GM to cancel “hideous” SUV (Bloomberg)
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Links 8/21/09
naked capitalism —
A step closer to 'synthetic life' BBC This is Your Brain on Neurotechnology h+ (hat tip reader David C) UBS Money Laundering: What Did Phil Gramm Know? Philip Sheer, The Nation (hat tip reader Jospeh M) Japan Turns to Taxis for Help in Selling Bonds as Deficit Grows Bloomberg (hat tip DoctoRx) Buffett’s false promise Rolfe Winkler Yet another discussion on the Asian savings glut hypothesis, and why it matters Michael Pettis China Said to Plan Tightening of Capital Requirements for Banks ...
Related Content
Asian Officials Push Back Against Savings Glut Theory
online.wsj.com 7/4/2009 — BEIJING Asian officials and scholars are pushing back against the notion that their countries' high savings helped cause the financial crisis by flooding the world with money, arguing that lax U.S. financial regulation bears the brunt of the blame. ...
The global savings glut and the current crisis
blogs.cfr.org 1/9/2009 — I have always believed that the debtor and the creditor tend to share responsibility for most financial crises. One borrows too much, the other lends too much. Wynne Godley (ideologically, no Hank Paulson), Dimitry Papadimitrriou and Genaaro Zezza ...
The savings glut. Controversy guaranteed.
blogs.cfr.org 6/30/2009 — Few topics are quite as polarizing as the “savings glut.” The very term is often considered an attempt to shift responsibility for the current crisis away from the United States.
That is unfortunate. It is quite possible to believe that the ...
links for 2009-07-05
delong.typepad.com 7/6/2009 —
The Young Turks
Andrew Batson: Asian Officials Push Back Against Savings Glut Theory
Efficient Market Hypothesis?
elliottwave.com 8/30/2009 — Why are the truly big economic catastrophes so "big"? Put simply, it's that such a small number of people prepare themselves beforehand. Think about 2008 and you'll realize it's true. What's more, once you read Bob Prechter's recent 10-page Elliott Wave Theorist, you'll see that even fewer ...
So Long, and Thanks For All the Savings
paul.kedrosky.com 10/1/2009 — So much for that brief U.S. dalliance with a higher savings rate. The latest BEA data shows that August personal savings rate in the U.S. fell to 3.0%. Here is a Bloomberg chart putting it all in context. To be somewhat more serious, and as the ...
What Is the Efficient Market Hypothesis?
baselinescenario.com 7/20/2009 — Brad DeLong cites Underbelly citing The Economist quoting Richard Thaler:
The [Efficient Capital Markets] hypothesis has two parts, he says: the “no-free-lunch part and the price-is-right part, and if anything the first part has been strengthened as we have learned that some investment ...
Why the efficient markets hypothesis caught on
blogs.reuters.com 8/12/2009 — Why did the efficient markets hypothesis catch on as virulently as it did? There's the long answer (HarperBusiness, 400 pages, $27.99), and then there's the short answer, courtesy of Emanuel Derman :
Savings Rate...
delong.typepad.com 7/31/2009 — And Mark Thoma shows us the savings rate:
And asks:
Economist's View: How Much of the Increase is Permanent?
I would guess that only a small part of the rise in the savings rate is permanent. Financial distress was and is much ...
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