Hi Jay - let me once more offer for the general reader Steven Keen's "Non-Linear Dynamics of Debt-Deflation,"
journal-ci.csse.monash.edu.au
More by Keen here:
debunking-economics.com
You know, and I know, that as long as China maintains dollar/RMB parity where it is, Japan is going under, which will serve them right for what they did during WWII, correct?
China, the world's newbie at globalized economics, will cause a greater depression than the US did - well, we did it several times but that's another story.
You can't cooperate with nasty old bankers without losing your soul or at least your self-respect, but if you don't, you'll lose everything.
Well, not Hong Kong, maybe. If you know how to make money shorting as well as going long.
The above is speaking hypothetically, because I don't have a crystal ball.
Over the short term, the US economy is strengthening. Mortgage rates bottomed out three weeks ago and bond rates are going up.
I am doing my best to avoid debt-deflation by bankrupting anybody who asks. Jettison all debts, and avoid going under. Take on new debts only if the interest rate is ultra low.
I was almost tempted by 8% lately but came to my senses and cancelled - financing a vacation, no credit check required. I always pay cash, but the terms were seductive. Cendant, who always figures out how to get little sips of blood from my system. I think I won't get the $99 processing fee back, so they go their blood meal anyway. |
