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Ray Dalio - Asset Allocation, Risk Parity, Diversification (CNBC)
 
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Full video here http://video.cnbc.com/gallery/?video=3000142389 In this shorter segment of the full CNBC video Bridgewater's CEO Ray Dalio discusses his investment philosophy for achieving a balanced structured portfolio and thereby superior asset allocation. He explains how the macro environment of growth and inflation needs to be carefully matched against the portfolio's volatility of bonds, equities and other assets. [Achieving Strategic Asset Allocation with Risk Parity] "There is the strategic allocation mix which we call 'All Weather'. It has to do with making all the assets the same risk parity. The problem is when people try to diversify and they own equities, and equities have volatility that's large, or they own assets that do well when the economy does well and do badly when the economy does badly, they have a concentration of risks in some assets. They need to do .... so that bonds and equities and pieces have comparable impacts. So that whatever happens in the economy has a balancing effect. That's the All weather piece. We have a lot of diversified bets. It's very important for most people to know when not to make a bet! If you come to the poker table you're going to have to beat me. The nature is a very small percentage of people take money in the poker game. They don't know if it's a good investment or a more expensive investment." [On Bonds vs. Stocks and Diversification of Risk in all periods] "The problem of a stock and a bond portfolio, if you put 50 per cent of your money in stocks and 50 per cent of your money in bonds, the problem is you have about 80 per cent of your risk in stocks and about 20 per cent of your risk in bonds. So you don't have diversification. Imagine if you had a bond portfolio with the same volatility as stocks and you went through the financial crisis. Most of the decline in your portfolio would have been protected because the stocks would have gone up in value by an amount that would have offset the other. You have to have comparable amounts of risk in that."
Views: 29335 gmshadowtraders
"The Dogs of War" (1980) - End Scene
 
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'The Dogs of War' is a 1980 war film based upon the novel The Dogs of War by Frederick Forsyth, directed by John Irvin. It stars Christopher Walken and Tom Berenger as part of a small, international unit of mercenary soldiers privately hired to depose President Kimba of a fictional "Republic of Zangaro", in Africa, so that a British tycoon can gain mining access to a huge platinum deposit. This movie was filmed on location in Belize. The Dogs of War title is a phrase from William Shakespeare's play Julius Caesar (1599), which uses the line "Cry, 'Havoc!', and let slip the dogs of war" (line 270, scene 1, Act III).
Views: 44389 gmshadowtraders
Jeffrey Gundlach - Bond Investing and Mathematics
 
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Full video here http://www.bloomberg.com/video/92887995-doubleline-s-gundlach-on-mortgage-market-strategy.html May 17 -- Jeffrey Gundlach, founder and chief executive officer of DoubleLine Capital LP, discusses bond markets, the impact of Europe's debt crisis on mortgages and the ways his family shaped his interest in mathematics. Gundlach, speaking with Tom Keene on Bloomberg Television's "Surveillance Midday," also talks about JPMorgan Chase & Co.'s $2 billion trading loss, and the outlook for Apple Inc. and Facebook Inc. (Source: Bloomberg)
Views: 15912 gmshadowtraders
Robert Mugabe - 'Britain has gone to the Dogs'
 
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The Zimbabwean President, Robert Mugabe, has just turned 90 and is showing no sign of stepping aside. To some he's a villain who's all but destroyed his country's once thriving economy; to others he's a hero fighting to liberate Africa from white exploitation. Recorded from BBC World News, 19 April 2014. (Keyword: Zimbabwe)
Views: 129921 gmshadowtraders
Global Poverty - China improving, India impoverished, Africa same (CNN)
 
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CNN Content Full video here - https://www.youtube.com/watch?v=9UABa09QsvM 02.09.13 [The World] In 1981, half the world was in poverty, living on less than $1.25 a day. By 2012, one fifth of the world was in poverty, living on less than $1.25 a day. In raw numbers that translates into a 40% drop form 2 billion to 1.2 billion. [China] But dig deeper and the picture is more murky. Most of the reduction in global poverty has to do with one country, China. In a decade, China's share of the world's poor dropped. By 2010 China's share was only 13%. Africa's share was triple. The total number of impoverished Chinese declined by 680 million people. By registering double-digit growth over three decades Beijing has transformed. [India] But India is impoverished. New Delhi has also made strides against poverty. In 1981 429 million or 60% of the population lived in poverty. By 2010 there was 33% and 400 million in poverty. Why? India's population had expanded by half a billion. The answer is GROWTH. India had slow growth in the 1980s. Then in the 1990s it opened up, scrapping socialist controls. By the mid-2000s growth was 9%. That reduced the number in poverty. But if reforms had taken place two decades earlier India would have 175 million fewer people in poverty. [Africa] Africa's change is still too slow. Sub-Saharan Africa poverty got worse in the 1980s and 1990s. It has turned the corner again but only because of growth.
Views: 66390 gmshadowtraders
Zhang Xin - China's Property Tycoon (Bloomberg)
 
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Full video here http://www.bloomberg.com/video/78775382-soho-china-s-zhang-xin-discusses-real-estate.html Oct. 24 -- Soho China Ltd. Chief Executive Officer Zhang Xin talks about the Chinese real estate market and how she went from a penniless sweatshop worker to a billionaire property developer. She speaks with Francine Lacqua on Bloomberg Television's "Eye To Eye." (Source: Bloomberg)
Views: 22459 gmshadowtraders
'India is the next growth story, China is fading' - Jim Grant (25Mar14)
 
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http://video.cnbc.com/gallery/?video=3000261243 Jim Grant of Grant's Interest Rate Observer says India is the next growth story for investors to watch. He appears in an exclusive interview with CNBC's Kelly Evans. _____________________ This video may contain copyrighted material. Such material is made available for educational purposes only. This constitutes a 'fair use' of any such copyrighted material as provided for in Title 17 U.S.C. section 107 of the US Copyright Law. (Jim Grant) "I think the world is always looking for the next growth story and I would nominate India. I think China is fading on account of its truly frightening misallocation of credit. India has got an average median population of 27. Europe's is something like 44 or mid-40s. India is confounding, flummoxing, exciting. It causes one to wish that somehow enlightened market related ideas had prevailed there about 100 years ago."
Views: 70026 gmshadowtraders
India's Rising Military Power - BBC News, 13Aug13
 
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BBC News Content 40,000 tonne aircraft carrier. A moment of national pride. India joins a select club of nations that have built their own aircraft carriers. The INS Vikrant means 'courageous'. A landmark event. Hindu holy prayers recited as the ship is launched. Entirely Indian designed and built. Weapons from abroad. Russian MIG-29 fighter jets once it is operational in 2018. Russia leased the nuclear submarine to India. Should India be spending billions of dollars on its nuclear programme especially when it has so many other challenges?
Views: 178878 gmshadowtraders
Stanley Druckenmiller - Bearish Bets, Too many Hedge Funds (11.09.13)
 
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Full video here http://www.bloomberg.com/video/stan-druckenmiller-on-entitlements-fed-strategy-APL5~64SR1Ks2zqP6s6g7w.html Sept. 11 -- Stanley Druckenmiller, founder of Duquesne Capital Management LLC and one of the best performing hedge fund managers of the past three decades, talks about U.S. entitlement spending, political gridlock in Washington, Federal Reserve policy and leadership, and investment strategy. He speaks with Bloomberg Television's Erik Schatzker and Stephanie Ruhle on Bloomberg Television's "Market Makers." Bloomberg's Al Hunt also speaks. (Source: Bloomberg)
Views: 10192 gmshadowtraders
Stanley Druckenmiller - The Fed, Seniors v Kids, Gold Bull Market
 
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Full video here http://video.cnbc.com/gallery/?play=1&video=3000200724 "Druckenmiller: Fed robbing poor to pay rich" 19 Sep 2013 The Federal Reserve isn't just inflating markets but is shifting a massive amount of wealth from the middle class and poor to the rich, according to billionaire hedge fund manager Stanley Druckenmiller. In an interview on "Squawk Box," the founder of Duquesne Capital said the Fed's policy of quantitative easing was inflating stocks and other assets held by wealthy investors like himself. But the price of making the rich richer will be paid by future generations. "This is fantastic for every rich person," he said Thursday, a day after the Fed's stunning decision to delay tightening its monetary policy. "This is the biggest redistribution of wealth from the middle class and the poor to the rich ever." http://video.cnbc.com/gallery/?play=1&video=3000200724
Views: 14908 gmshadowtraders
Philippines - Nurses cannot find jobs (BBC News)
 
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BBC News Content
Views: 37066 gmshadowtraders
Philippines - Gun Economy (NHK World)
 
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Copyright NHK (Japan Broadcasting Corporation) All rights reserved. Used only for educational purposes. NHK World: http://www3.nhk.or.jp/nhkworld/
Views: 128600 gmshadowtraders
George Soros - Theory of Reflexivity (Bloomberg)
 
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Full video here http://www.bloomberg.com/video/77208056-george-soros-says-markets-are-always-fallible.html Oct. 10 -- Billionaire investor George Soros talks about global financial markets and his philanthropy. He speaks with Francine Lacqua on Bloomberg Television's "Eye To Eye." (Source: Bloomberg). In this short segment Mr Soros discusses his famous theory of reflexivity where markets do not tend towards equilibrium.
Views: 19254 gmshadowtraders
China - World's dumping ground for Electronic Waste (CNN)
 
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http://edition.cnn.com/2013/05/30/world/asia/china-electronic-waste-e-waste/ Guiyu, China (CNN) -- Did you ever wonder what happens to your old laptop or cellphone when you throw it away? Chances are some of your old electronic junk will end up in China. On seemingly every street, laborers sit on the pavement outside workshops ripping out the guts of household appliances with hammers and drills. The roads in Guiyu are lined with bundles of plastic, wires, cables and other garbage. Different components are separated based on their value and potential for re-sale. On one street sits a pile of green and gold circuit boards. On another, the metal cases of desktop computers. At times, it looks like workers are reaping some giant plastic harvest, especially when women stand on roadsides raking ankle-deep "fields" of plastic chips. In one workshop, men sliced open sacks of these plastic chips, which they then poured into large vats of fluid. They then used shovels and their bare hands to stir this synthetic stew. "We sell this plastic to Foxconn," one of the workers said, referring to a Taiwanese company that manufactures products for many global electronics companies, including Apple, Dell and Hewlett-Packard. According to a recent United Nations report, "China now appears to be the largest e-waste dumping site in the world." E-waste, or electronic waste, consists of everything from scrapped TVs, refrigerators and air conditioners to that old desktop computer that may be collecting dust in your closet. Many of these gadgets were initially manufactured in China. Through a strange twist of global economics, much of this electronic junk returns to China to die.
Views: 79120 gmshadowtraders
Bill Gates - India and China
 
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Full video here http://www.charlierose.com/view/inter... Charlie Rose Channel here http://www.youtube.com/channel/UCwBUwaTxztTPuSzIi2cjimw Bill Gates, Co-Chair, The Gates Foundation. Another video on Bill Gates and his philanthropy here http://www.youtube.com/watch?v=fboaQ5i2amc
Views: 329316 gmshadowtraders
Michael Hudson - on gov't debt, depression, reduced wages & banking interests
 
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16 Dec 2010 TheRealNews Michael Hudson is a research professor at University of Missouri and also at the Levy Economics Institute of Bard College. He is president of The Institute for the Study of Long-term Economic Trends. He is author of the books "Super Imperialism" and "Trade, Development and Foreign Debt". Some very thought provoking ideas are in this video. Mr Hudson perhaps goes overboard a little when he begins to talk about parasites and hosts, but overall this is an excellent video for thinking about the mechanics behind financial crises and crisis management. [Presenter - The Deficit Commission has reported. But the press and everybody seem more interested about government debt than depression. Why?] The Deficit Commission is essentially appointed by the banking interests [!] When the government runs into debt it has to borrow off from the banks. They want to scale down government debt in order to scale down government taxes. It's part of a one-two punch against the economy. To the Deficit Commission a depression is a solution to the problem, not a problem. They're trying to bring about a depression to lower wages by 20%. They have the illusion that if you pay labour less somehow you will make the economy more competitive and the economy can earn its way out of debt. Meaning the banks and companies can make more profits and pay more bonuses and stock options. And somehow their constituency, Wall Street and the corporate economy will become richer if they can only impoverish the economy. The parasite wants the host to find new food but it doesn't want it to get bigger. It wants itself to get bigger. So it has to take over the brain of the host. The parasite -- the financial sector and the Deficit Commission -- has to take over the host -- the industrial real economy of production and consumption. The parasite has taken over the brain (the government) but it has also taken over its own brain in the process. It imagines corporations can make larger profits and the financial system can survive if they just bring on a depression. In fact it will be the exact opposite. [Presenter - If you take out even more consuming power doesn't this actually exacerbate the problem? But you're saying they want to?] Let's look at how Wall Street and the large corporations view the economy. They look at two cost functions. One is the cost of doing business -- higher labour and producing goods. But the other is reducing taxes. They want to shift the tax burden off finance and off industry and onto labour. The function of the Deficit Commission is to change the tax system to get rid of the taxes that fall on capital and to make the taxes fall only on labour. Then they can use all of the government's credit creating power so that they can bail themselves out. They will then want to cut social spending so that as much as the government's spending power as possible is available for the inevitable bailouts. Most of the $600b of quantitative easing has gone abroad.
Views: 2210 gmshadowtraders
Hero Cat Saves Boy from Vicious Dog - Sky News (15May14)
 
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"Family Cat Saves Boy From Vicious Dog Attack" The pet races to the rescue and launches herself at a dog mauling a four-year-old boy outside a family home in California. A tabby cat has been hailed a hero by her owners after saving their four-year-old son from a vicious dog attack. Tara's bravery was captured on a home CCTV system and quickly went viral when the footage was posted on the internet. Some viewers questioned whether she had put the title "man's best friend" in contention after sprinting to defend Jeremy Triantafilo from a dog much larger than herself. The little boy was riding his bicycle in front of his home in Bakersfield, California, when a neighbour's dog appeared to stalk him. The animal ran up from behind and attacked him, leaving a deep leg wound, which needed 10 stitches. Out of nowhere, Tara flew at the dog and sent it running off down the road. http://news.sky.com/story/1261856/family-cat-saves-boy-from-vicious-dog-attack
Views: 4476 gmshadowtraders
China's Selfmade Billionaire - Zhang Xin (CNN, 28 May 2013)
 
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Zhang Xin is CEO, SOHO China. Estimated worth about $3.6bn. She says the property market is very vibrant and that the government is trying to make housing more affordable. "In China there are a lot of problems but also a lot of opportunities. We decided 7 or 8 years ago when we saw that residential development has become very political. Government policies were against any price going up because it is a very social issue. People who bought the properties want the property price to go up, but people who haven't bought the properties don't want the property price to go up. It becomes very political" [Why isn't it working?] "I think the policies are so distorted that you no longer know what works and what no longer works. That's a little bit like the real estate market in China. In a perfect environment where there is demand there is supply. In China's case the government has so many elements they have to worry about, local government revenue...it's all very complicated policies layer after layer. This industry badly needs a long-term sustainable policy that gives people a right sense of what will happen. Without that it's very hard for people to make a decision".
Views: 6967 gmshadowtraders
Olympus - The Story of Japan's Accounting Fraud
 
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BBC News Content 7 July 2013 http://www.bbc.co.uk/programmes/b0368nzj Michael Woodford, former President and CEO of Olympus. Two weeks into his new position he was fired after exposing accounting fraud.
Views: 10369 gmshadowtraders
Stanley Druckenmiller - $200 trillion debt, True 'Fiscal Gap' (11.09.13)
 
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Full video here http://www.bloomberg.com/video/stan-druckenmiller-on-entitlements-fed-strategy-APL5~64SR1Ks2zqP6s6g7w.html Sept. 11 -- Stanley Druckenmiller, founder of Duquesne Capital Management LLC and one of the best performing hedge fund managers of the past three decades, talks about U.S. entitlement spending, political gridlock in Washington, Federal Reserve policy and leadership, and investment strategy. He speaks with Bloomberg Television's Erik Schatzker and Stephanie Ruhle on Bloomberg Television's "Market Makers." Bloomberg's Al Hunt also speaks. (Source: Bloomberg) ____________________________________________________ http://www.thecankicksback.org/ "Washington has kicked the can down the road far enough on our growing national debt. Join the Millennial movement to reclaim our American Dream." http://www.youtube.com/watch?v=bEonYDpns6I&feature=player_embedded "The Can Kicks Back is a non-partisan millennial movement to defeat the national debt and reclaim our American Dream. Join us: www.TheCanKicksBack.org." The Can Kicks Back Channel here http://www.youtube.com/user/TheCanKicksBack?feature=watch ___________________________________________________ "Druckenmiller Sees Storm Worse Than '08 as Seniors Steal" Mar 1, 2013 Stan Druckenmiller, one of the best-performing hedge fund managers of the past three decades, has a warning for the youth of America: Don't let your grandparents steal your money. Druckenmiller, 59, said the mushrooming costs of Social Security, Medicare and Medicaid, with unfunded liabilities as high as $211 trillion, will bankrupt the nation's youth and pose a much greater danger than the country's $16 trillion of debt currently being debated in Congress. "While everybody is focusing on the here and now, there's a much, much bigger storm that's about to hit," Druckenmiller said in an hour-long interview with Stephanie Ruhle on Bloomberg Television's Market Makers. "I am not against seniors. What I am against is current seniors stealing from future seniors." Druckenmiller said unsustainable spending will eventually result in a crisis worse than the financial meltdown of 2008, when $29 trillion was erased from global equity markets. What's particularly troubling, he said, is that government expenditures related to programs for the elderly rocketed in the past two decades, even before the first baby boomers, those born in 1946, started turning 65. http://www.bloomberg.com/news/2013-03-01/druckenmiller-sees-storm-worse-than-08-as-seniors-bankrupt-kids.html
Views: 3695 gmshadowtraders
Raghuram Rajan, "Fault Lines" - Lessons of the Recession (16May12)
 
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Full video here http://www.bloomberg.com/video/92810121-education-support-keys-to-growth-rajan-says.html May 16 -- Raghuram Rajan, professor at the University of Chicago and former chief economist at the International Monetary Fund, talks about the European sovereign-debt crisis and global economies. Rajan talks with Tom Keene on Bloomberg Television's "Surveillance Midday." (Source: Bloomberg) [Fault Lines is a must read. It is in english and non-mathy. This is another gem. What was the genesis of the true lessons of the recession? How did this gem happen?] "We had increasing voices saying what we need is more stimulus - monetary stimulus and fiscal stimulus. To me that is like injecting a racehorse with more drugs. We need to diagnose the problem with the racehorse. A lot of the problems were deep underlying structural problems. They were being masked by varieties of spending. We need to understand what those underlying problems are and tackle them directly rather than indulge in more spending" [On Income Inequality] "We need to make more people participate in the growth process. You fix the underlying problems that hit our workforce. Too many people don't have the education or the skills for the kind of jobs being produced by the modern economy. We don't have the support systems. Doing things like that making it more possible for the workforce to get the kind of jobs they can and will do, that is the better way of intervening in this time rather than spending more money mindlessly." [What about Krugman and De Long who say we need stimulus now? Can't we double barrel this?!] "I think you can try but I worry. These jobs are around for a year. We say oh these jobs are going away, we need more stimulus. We saw it in Japan. They paved the entire country with concrete, they've got bridges and roads everywhere but they didn't address the long-term underlying issues. The long-run will eventually hit you. So until you create sustainable jobs we are not going to come out of this. This is not just a simple issue of creating jobs for a day." [How Keynes would solve the Eurozone crisis - "For a country in such desperate straits as Greece, orderly exit from the euro to regain competitiveness looks to be the best option. It's in the interest of Greece and its creditors that the devaluation is controlled" - by Marcus Miller & Robert Skidelsky] "I don't know. I think there are lots of unknowns if Greece leaves the euro. Managing the exit is difficult. There are already runs on the Greek banks. The idea that depreciation of the exchange rate allows you to become more competitive requires on unions not seeing that their wages have fallen. That requires a lot of discipline. Ultimately everything depends on Greece becoming a lot more competitiveness and beginning to grow. You can do it the hard way in the euro area, or apparently the easy way to leave the euro, but whether that will happen nobody knows" [We want the ECB and IMF to come in and save the day. If that is the case does IMF Lagarde have the support of the United States to go into Europe and get this fixed?] "Europe will resist. The problem is the IMF has not asserted itself enough at the beginning. They should have realised that Greek debt was unsustainable right from the get go. Now we are where we are. What was initially a debt default is now turning out into an exit from the euro area and the equivalent of a Great Depression for Greece. It is a terrible situation."
Views: 2756 gmshadowtraders
Iran's President Ahmadinejad - Syria, Libya, Afghanistan & NATO
 
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21 Sep 2011 Full video here: Part 1 http://www.charlierose.com/view/inter... Part 2 http://www.charlierose.com/view/inter... Mahmoud Ahmadinejad is President of the Islamic Republic of Iran. This is a shortened version of the longer interview by Charlie Rose, focusing on the President's views on Syria and other interventions around the world.
Views: 8868 gmshadowtraders
Ken Robinson - Creativity and making Mistakes
 
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Full video here http://www.charlierose.com/view/interview/12950 Charlie Rose Channel here https://www.youtube.com/user/CharlieRose Sir Ken Robinson on "The Element: How Finding Your Passion Changes Everything" "Being wrong is not the same thing as being creative. But if you are not prepared to be wrong you will not come up with something original. We stigmitize mistakes. The result is we are educating people out of their creative capacities. All children are born artists. The problem is to remain artists as we grow up".
Views: 6594 gmshadowtraders
'Israel to blame for ISIS' - Mahathir Mohamad (Sky News)
 
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Former Malaysia PM Dr. Mahathir Mohamad says the reason for the ISIS problem is Israel's illegal occupation of Palestine and an overall failure to address the frustration with government. He appears in an exclusive interview with Adam Bolton on Sky News. Recorded from Sky News, 18 Feb 2015. Full video available here - https://www.youtube.com/watch?v=9acFy-YPxdA
Views: 70261 gmshadowtraders
Reinhard Heydrich (SS) - 'Hangman of Prague'
 
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Reinhard Heydrich was known as the 'Hangman of Prague'. One of the cruellest and most brutal murderers in Nazi Germany, he was a principal architect of the Final Solution. As the Gestapo's Chief from 1934 Heydrich made it an instrument of terror. At its peak it had 45,000 staff. But it fed off a huge network of spies and informers. _______________________________________________ This video may contain copyrighted material. Such material is made available for educational purposes only. This constitutes a 'fair use' of any such copyrighted material as provided for in Title 17 U.S.C. section 107 of the US Copyright Law. This is an edited shorter version of the full programme.
Views: 715679 gmshadowtraders
Paul Krugman v Kenneth Rogoff (1/2)
 
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14 Aug 2011 Paul Krugman is winner of the 2008 Nobel Prize in Economics and columnist for the NY Times. Kenneth Rogoff is Former chief economist at the IMF and now professor at Harvard University. Part 2 here http://www.youtube.com/watch?v=KZcJDZSy1Go ___________________________________________________ [We saw a huge great demand for US Treasuries despite the S&P downgrade] Krugman -- Investors are not afraid of what the policy elite (or S&P) are telling them. In reality markets are terrified of prolonged stagnation, maybe another recession. US government debt is seen as the safest thing out there. The downgrade could lead to more contraction. This is a wake up call. The really scary thing is a reduced version of the Great Depression in the western world. Rogoff -- The US is still best compared to the rest. There is a financial panic. One third is low growth, two-thirds are people thinking there's nobody home. It's that which is driving the market. [You say this is part of a broader phenomenon. People are realizing this is not a classic recession or cyclical downturn. This is a 'great contraction'?] Rogoff -- Well recessions we have periodically but we have not had a financial crisis as we are having now. Carmen Reinhart and I think of this as the second great contraction (the first being the Great Depression). It is not just unemployment or output, but also credit and housing which are also contracting. These things last much longer because of the debt overhang we started with. After a typical recession we come galloping out. Six months after it ended you're back to where you started; another 6 to 12 months you're back to trend. In a financial crisis it can take 4 to 5 years to get back to where you started. [So Paul Krugman, the implication of what Ken is saying is that spending large amounts of money on stimulus programs is not the answer because until the debt overhang works its way off you are not going to get back to trend growth?] Krugman -- No that's not at all what it implies. The way I think about this is not that much different to Ken's. I certainly believed this was going to be different from the v-shaped recession. We need the government to sustain spending, to maintain income so the private sector can work down that debt. Rogoff -- I think we part ways here. It is not a typical recession. I think if we bring down mortgage rates I would support that. Obviously if things go from bad to worse then you bring out more things from the tool kit. Krugman -- It's already gone from bad to worse! We have 9% unemployment and long-term unemployment not seen since the Great Depression. At this point we want to throw everything we have against it. I'm not sure fiscal stimulus is a magic bullet, but nor is inflation a magic bullet. After WW2 we have a massive amount of inflation which reduced the debt [!]
Views: 15720 gmshadowtraders
Michael Hudson -- on fictitious debt and manipulation of people
 
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RT Content [Presenter - The United States is in major debt. The national debt has surpassed $14.3 trillion for the first time. This country is coming extremely close to reaching its statutory ceiling set by Congress last year. Will Congress increase the ceiling even more? Can the United States find a way to stop borrowing?] Michael Hudson -- "The important thing to realize is that government doesn't really borrow, it creates money [!]. The role of the central bank is to finance the government deficit by printing money. So the whole issue about whether the United States has a debt problem is largely fictitious. The problem the United States has is a foreign debt problem and that is not even being discussed." On the matter of going over the 'Debt ceiling' and defaulting on US obligations: [How catastrophic would it be in your opinion?] Michael Hudson -- {Laughs} "It would be like stepping on a piece of gum and having to get it off your shoe. Adam Smith said in the Wealth of Nations that no government has ever paid its debt [!]. Nothing has changed. It would be a zero problem. People who talk like that are trying to frighten you. When a politician tries to frighten you, think of what is it that he wants me to do? How am I being manipulated? This is pure ignorance."
Views: 2453 gmshadowtraders
California is Bankrupt - BBC News
 
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BBC News Content http://www.bbc.co.uk/news/world-us-canada-21997802 1 April 2013 "Stockton becomes most populous bankrupt US city" A judge has approved the California city of Stockton's bankruptcy filing, making it the most populous US city ever to enter bankruptcy protection. A federal judge said without bankruptcy protection, Stockton would be unable to provide basic government services. The city of 290,000, 90 miles (144km) east of San Francisco, saw its tax base plummet in the US housing market crash. The ruling grants Stockton protection from creditors - who opposed the filing - while it negotiates debt repayment. Stockton's creditors - bond holders and insurers who had financed the city's debt - argued the city had not cut spending enough nor sought a tax increase to avoid bankruptcy. With the city now in bankruptcy, they may not be repaid their full principals. But lawyers for the city said it had slashed its budget to the bone after a 70% decline in the city's tax base. The California city first filed for bankruptcy in June 2012 after failing to come to an agreement with its creditors. The judge came to his decision on Monday after a three-day trial. "It's unfortunate that we have been forced to spend millions of dollars, thousands of hours and almost a year on this effort," city manager Bob Deis said, referring to the fight with creditors who opposed the bankruptcy filing. "These are valuable resources and money that could have gone toward addressing the critical safety needs of our community, restoring services, and paying our creditors." During the housing boom, the city developed its waterfront, with a new marina and sports complex, and negotiated generous pension and healthcare benefits for city employees. But when the housing market crashed beginning in 2008, the city's revenue sank when a rush of home foreclosures caused a dip in property taxes and developer fees. Officials were forced to make dramatic spending cuts to patch a budget deficit - roughly $26m (£17m) this year. The city eliminated a quarter of its police officers, one third of the fire department staff and 40% of all other employees. It also cut wages and medical benefits. Stockton's unemployment and violent crime rates now rank among the worst in the nation. The city's case was being watched closely by other struggling US cities and towns that may also seek bankruptcy protection. Stockton's largest debt is $900m owed to the California Public Employees' Retirement System to cover pension promises. The city has kept up with pension payments at the expense of other debt, arguing it needs a strong pension plan to retain its workforce.
Views: 42064 gmshadowtraders
Ray Dalio 2013 - Funding Gap, Deleveraging, Productivity Drivers
 
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Full video here http://www.bloomberg.com/video/jain-moynihan-dalio-bloomberg-panel-at-davos-QUUHn~jkR9iLj2cigMszGw.html Jan. 25 -- Deutsche Bank AG Co-Chief Executive Officer Anshu Jain, Bank of America Corp. CEO Brian Moynihan, Bridgewater Associates LP founder Ray Dalio, French Finance Minister Pierre Moscovici, Bank of Italy Governor Ignazio Visco and Jin Liqun, chairman of China Investment Corp.'s supervisory board, participate in a panel discussion at the World Economic Forum's annual meeting in Davos, Switzerland. Bloomberg Television's Francine Lacqua moderates the discussion, entitled "No Growth, Easy Money - The New Normal?" (Source: Bloomberg) Ray Dalio - "It's important to understand that the adjustment that is happening is not just central banks. There is a Funding Gap. The amount of money that can be lent and that needed to be borrowed, there was a gap. Central banks came in to fill that gap. What's happened in the adjustment is that the amount of money being lent and borrowed has fallen a lot. And with that depressions essentially have occured. So it's important to realize that when we go back to normalcy, countries cannot spend like they have before. Equilibrium means a depressed economy. The fundamental law is we can't raise debt faster than income from now on. We will have low debt growth. It will come to productivity. Competition will be the discussion. Ultimately you can only spend what you produce. Countries are very expensive if you use the measures. What does it cost to have an educated person in France, the United States; the cost is multiples of an educated person in China. There are going to be very big social questions. How long is vacation? How much savings? Quality of life types of questions. How much transfer of wealth, how much self-sustaining.... We have a list of benchmarks of productivity, the list correlates 90% with the outcome of the growth rate of the next 10 years. Those will be the drivers".
Views: 8182 gmshadowtraders
Jesse Ventura - Brainwashing in America
 
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Al Jazeera Content Jesse Ventura is Former Minnesota Governor. 26 June 2012 [Look at Wall Street, the Supreme Court. They aren't listening. Americans say this is too big for me, I'm depressed I can't handle it] We've allowed them to brainwash us. We've allowed them to make us think we work for them. The bottom line is they work for us. THEY WORK FOR US WE DON'T WORK FOR THEM. Mainstream media in the United States are no help. They're part of it, they were supposed to inform and make the public intelligent of what the other three branches of government were doing. They just entertain you rather than make you more intelligent.
Views: 5092 gmshadowtraders
Bridgewater's Ray Dalio - How does the machine work
 
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Full Bloomberg video here: http://www.youtube.com/watch?v=uU9fmO... Ray Dalio spent years understanding how the machine works, by which he means the macroeconomy. (Ray Dalio) "There is nothing surprising about the European debt crisis. The payments were due. We know the payment streams, the maturities are going to happen here, and there's this quantity. Every day there's an exchange. Banks when they buy bonds have limitations. So because they bought a certain amount of bonds when they could expand their balance sheet does not mean that they continue to do that! You could not have that same amount of buying, match that up with the amount of selling that needs to happen. Is there a gap? It was apparent I think. How big is the gap? Who's going to fill the gap. We need to have a quality conversation of how does the machine work. You can either transfer wealth from the rich to the poor, or you can print a certain amount of money, or you can write down the debt. But we are not having a quality conversation about how does the machine work. What are the choices? What happened before...the IMF with sovereign restructurings... How does the de-leveraging work? How does the economic machine work? How does politics work? The history of democracies when we have economic crisis... there is greater polarity in democracies. Then it becomes less functional. This is very normal! Hitler came to power in 1933 because there was disorder in a democratic system in a depression type environment. That's how the machine works."
Views: 10990 gmshadowtraders
Niall Ferguson v Robert Skidelsky - The Austerity Battle (CNN)
 
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CNN Content 18.06.12 EUROPE (Presenter) Everyone is saying clearly not all euros are created equal. I'm going to put my money in Germany banks, that's the one country that can't default. (Niall Ferguson) If one country leaves it stops being a monetary union and it starts being a currency board. And It's much easier to leave a currency board. Argentina was able to leave the currency board. That's the nightmare scenario that southern European countries are thinking about. It's more like Latin America. 'Latin Europe'. Then it's game over for Europe. (Presenter) Do you think Greece can leave without spreading the contagion? (Robert Skidelsky) Yes I think so. I don't think Spain, Italy, Portugal, Ireland are nearly in as bad a condition as Greece. They're more competitive, their public budgets are in sounder condition and they can whether the storm. Particularly if there is a big firewall. I don't think it will break up. But I agree it's got to be strengthened in all kinds of ways if it is to survive. AUSTERITY (Presenter) Do you think in retrospect that cutting the deficit at a time when the economy was weak was the wrong idea? (Niall Ferguson) Well there wasn't any choice. Keynesian policies are an option if you don't have an enormous debt-to-GDP ratio. But Britain already did. There really wasn't an option. (Robert Skidelsky) I don't agree with that. Niall is a wonderful spokesman for the Conservative-Liberal coalition. I don't think any of it is correct. There was never a chance that Britain was going the way of Greece. It was sovereign, had its own currency and could print money. Very different to those countries in the Eurozone. BRITAIN DID HAVE AN OPTION. When you have high debt and the economy has just collapsed then of course the Debt-GDP ratio rises automatically. Now how do you get it down. I would say and a Keynesian would say you don't get it down by shrinking the economy further. That will cause it to rise. You have to find some way of getting the GDP up, then the Debt-GDP ratio will sink. That is very, very, very clear in my mind, events have borne it out. What we've had is a great experiment in the application of a particular economic philosophy which Niall agrees with. He says 'Oh this is a temporary blip' and in a year or so we will be back to buoyant growth. (Niall Ferguson) I don't think it will be buoyant growth. It is a debt mountain. Debt-to-GDP is up there with Japan. It's 600 per cent if you include public and private debt. That's pretty important Robert, it is unprecedented in history. Anybody who thinks you can magically go back to 4 or 5 per cent under such a burden is deluded. Almost as deluded as the people who think Britain had a Keynesian option in 2010. AMERICA (Presenter) You argued the United States could also face these spiralling interest rates and worries about borrowing. That certainly hasn't been borne out. American borrowing costs have been plummeting. Why do you think that is? (Niall Ferguson) The massive flight to safety. If the rest of the world -- particularly Europe -- which is as large if not larger than the U.S. -- is self-destructing. Investors seek the safe haven of the U.S. Treasury. It doesn't guarantee you much capital but at least you get your capital back. (Presenter) Does the U.S. have more leeway to do infrastructure projects? (Niall Ferguson) It always has had more leeway. I said that the crisis that was happening, this goes back to two years now, this would spread to the Mediterranean and might ultimately cross the Atlantic. (Robert Skidelsky) I don't think so. I think the United Kingdom has more leeway than America because it isn't a reserve currency. It can allow its currency to fall, to depreciate without anyone taking countermeasures. In the United States China doesn't allow it to happen. (Presenter) You would want more government spending across the western world to boost growth? (Robert Skidelsky) I WANT COUNTRIES TO SUSPEND THEIR FISCAL PROGRAMS. PUT THEM INTO COLD STORAGE. GET THE ECONOMY GROWING AGAIN. THEN FACE THE STRUCTURAL PROBLEMS. If you do it now you will simply get a shrinking economy. That's my prediction, I predicted it two years ago. (Niall Ferguson) I don't think that option exists for most countries right now. It certainly didn't for most European countries, it might exist for Germany. The argument made by Reinhart and Rogoff since they published 'This time is different' -- once you get upto a Debt-GDP ratio of 90 per cent the room for manoeuvre is gone. That is the situation in the world.
Views: 15743 gmshadowtraders
Ethiopia to Yemen - The Most Dangerous Journey on Earth (BBC)
 
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BBC News Content Originally aired 21 July 2013 Yalda Hakim investigates one of the most dangerous journeys on earth - the trip thousands of Ethiopian migrants are making to find work in Saudi Arabia. This is a shortened version. For the full version (which includes a torture camp) see http://www.bbc.co.uk/programmes/b037lsmw
Views: 199359 gmshadowtraders
Michael Hudson - on bank bailouts, the gold standard & the US dollar
 
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3 Jul 2011 RT Michael Hudson is President of the Institute for the study of long-term economic trends. [Is the failure of American banks a symptom of a larger problem that's causing other countries to decouple themselves from the dollar?] The reason they are decoupling is because the United States owes $4.5trillion to foreign central banks. It's running a chronic trade deficit and a military deficit. Money managers on Wall Street have taken the $600bn of bailout money abroad [!]. You have capital flight by the very people who are bailed out financed by the Federal Reserve itself. [An interesting fact: Mr Hudson used to work as Chase Manhattan's balance of payments economist. This makes what he says here even more relevant] -- Every Friday we'd sit and look at the Federal Reserve's reports on the gold cover of the dollar. And it was going down and down and down. And you could see in advance that the dollar was going to have to close the gold pool. That's what my books were about. And we are in the same position today. The war spending forced us off gold in 1971. And now, we have been giving IOUs to foreign governments. But foreigners are now saying that the US has destroyed its industry they are asking if they will be paid back. It is so highly indebted an economy. Americans pay on average about 35 to 40% of their income on housing (mostly for mortgage costs), 12% for social security, another 15 to 20% in taxes. So before they buy any goods or services at all Americans have to pay the financial sector over two-thirds of their income no matter how little their paid. They're already priced out of the world market. Foreign governments see that. There are 800 military bases of the Pentagon... Conservatives and libertarians scream this is socialism. They think it's low cost. But every single industry that is privatized from railroads to roads to telephones to water has raised the costs of privatization substantially. They pay enormous interest, enormous executive salaries, huge stock bonuses. Government doesn't have these costs. Privatization raises the prices for education, for Medicare. They are turning the American economy into a toll booth economy.
Views: 3591 gmshadowtraders
Hungary - 'IMF, Get out of our country' (RT)
 
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RT Content Hungary repays IMF loan, sends 'meddling' international creditors packing
Views: 3530 gmshadowtraders
America's Middle Class No Longer #1 (CNN, 5May14)
 
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David Leonhardt appears on Fareed Zakaria's Global Public Square CNN, to discuss how the US has rapidly lost its direction in a globalized and increasingly competitive world. Recorded from CNN, 5 May 2014. "The American Middle Class Is No Longer the World's Richest" By David Leonhardt and Kevin Quealy APRIL 22, 2014 The American middle class, long the most affluent in the world, has lost that distinction. While the wealthiest Americans are outpacing many of their global peers, a New York Times analysis shows that across the lower- and middle-income tiers, citizens of other advanced countries have received considerably larger raises over the last three decades. After-tax middle-class incomes in Canada — substantially behind in 2000 — now appear to be higher than in the United States. The poor in much of Europe earn more than poor Americans. The numbers, based on surveys conducted over the past 35 years, offer some of the most detailed publicly available comparisons for different income groups in different countries over time. They suggest that most American families are paying a steep price for high and rising income inequality. http://www.nytimes.com/2014/04/23/upshot/the-american-middle-class-is-no-longer-the-worlds-richest.html?_r=0
Views: 5603 gmshadowtraders
Paul Krugman v Kenneth Rogoff (2/2)
 
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Part 1 here http://www.youtube.com/watch?v=t4z5bPxIF6E ____________________________________________ [Is there some upper limit? You can't keep spending money forever and incur these larger and larger debt loads] Krugman -- The main thing is the costs versus the benefits. Basically the US government can borrow money and repay in constant dollars less than it borrowed [Amazing] Are we really saying there are no huge projects the federal government can undertake that have even a small positive rate of return? Especially when there are resources to employ? The world wants to hold US treasuries. Rogoff -- I think you have to be careful. Interest rates were also very low for sub-prime borrowers. Interest rates can turn like the weather. But I also question if untargeted stimulus would really work. Infrastructure spending if well spent that's great, I'm all for that. I'd borrow for that assuming we are not paying so much for it. [Wouldn't Keynes say you dig a ditch and spend money on it?] Krugman -- It's very hard to get inflation in a depressed economy. But if you had a program of government spending plus an expansionary policy by the Fed you could get that. So think about using all of these things together, you could achieve a great deal. {They talk about space aliens for a bit} Krugman -- These hypothetical things are leaving us doing nothing about the actual thing that's happening, which is mass unemployment, mass waste of human resources, mass waste of physical resources. We are haemorrhaging economic possibilities and also destroying a lot of lives by letting this economic crisis drag on [Amazing]. Rogoff -- You need to get the debt levels down. We are growing slowly and the debt problems start blowing up on you. That's happening very dramatically in Europe. They said "things are going to get better, this is an ordinary but big recession, if we can just hang on the debt problems will go away". Well guess what, they're not growing fast enough, the debt problems are imploding. That's slowing growth and it's a self-feeding cycle [Amazing]. Krugman -- The thing that's holding us back is private sector debt. And we need to bring that down relative to incomes. So you need policies to get incomes to grow but that reduce private sector debt. It could include forgiveness [!] You don't have to wait for some natural process. We need very activist government policies.
Views: 7412 gmshadowtraders
Vietnam Warns China on Sea Dispute - 'This is Unacceptable' (CNN)
 
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http://amanpour.blogs.cnn.com/2014/05/28/vietnam-accuses-china-of-creating-facts-on-the-ground/ May 28th, 2014 China is "creating facts on the ground" in the South China Sea, Vietnam's Ambassador to the U.S. Nguyễn Quốc Cường told CNN's Christiane Amanpour on Wednesday. At question is an area of the South China Sea near the Paracel Islands; China this month installed an oil rig in an area both countries claim as their own. This week a Chinese boat rammed and sunk a Vietnamese fishing boat near the oil rig; and in Vietnam, violent riots against the Chinese have forced Beijing to evacuate thousands of its workers. "China is trying to turn [an] undisputed area into a disputed area. And that is unacceptable," Nguyễn Quốc Cường said. ____________________________ Vietnam ambassador on dispute with China https://www.youtube.com/watch?v=SdukWcWa9yo CNN International Channel here https://www.youtube.com/channel/UCEgvSsB99tT_tCrAazia_hA
Views: 153693 gmshadowtraders
Brazil - Education Crisis (BBC News)
 
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BBC News Content
Views: 9462 gmshadowtraders
Hong Kong & Singapore - Global Financial Ambitions (CNBC)
 
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© CNBC All Rights Reserved CNBC Straight Talk here http://www.cnbc.com/id/38002204 CNBC's Emily Chan presents on Hong Kong and Singapore. These regularly top rankings doing business even outdoing their western peers going head-to-head in the likes of banking, IPOs and attracting top talent.
Views: 18162 gmshadowtraders
Warren Buffett CNBC - Gold, Silver & Paper Money (07.05.12)
 
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© CNBC All rights reserved. [Background: Huge run up in Gold over 4 years. 'Civilized people don't buy Gold'] (Bill Gates) "Historically I did have Silver investments. But Gold is so psychological. Countries need liquidity, here is an asset which is not doing anything for the citizen, people don't suddenly buy 4 times more jewelery. It's just purely other people in the future think it's worth more than it's worth today. People panic. The supply equation will change. The bulls will have to adjust to innovation." (Warren Buffet) "If you buy an ounce of gold today and you hold it a hundred years, you can carress it and fondle it, and a hundred years from now you will have one ounce of Gold. If you buy farmland it will produce for 100 years and you will still have the farmland. You can buy the Dow Jones, at the end you have dividends for 100 years. So a productive asset is going to kill a non-productive asset. But any asset can outperform any other asset. Incidentally THEY ARE RIGHT TO BE AFRAID OF PAPER MONEY. If they run from it that is a mistake....but it is a correct premise."
Views: 22332 gmshadowtraders
Hugh Hendry - "We don't have Capitalism" (BBC Hardtalk)
 
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(Hugh Hendry) "What we've seen in the last 3 years that is not capitalism. I promise you my risk-taking is not underwritten by the public purse. I've capitalised upon my propensity to worry about things. I take risk and I am full of fear of getting things wrong. So that makes me a good risk-taker. I had a diatribe with the central bank of Hungary which sat idly as their population took mortgages denominated in Swiss francs and in Japanese yen. And they did that because the cost of borrowing in those currencies seemed very modest when compared to borrowing in Hungarian Forint. But they were taking on an enormous financial risk. And it was called to bear. The most effective form of regulation is that if you mess things up you fail. I assure you I do not take on extreme risk. I take on people's hard earned capital. Families...that have had wealth passed down from one generation to another. Do you think for one moment they would give it to me sitting in my office in London for me to take extreme risks with their capital? The world that I operate in is subject to that regulation that they might lose everything. I promise you I spend half of my time allaying their fears, being transparent, addressing all these issues. I'm losing money this month, it is a very uncomfortable process! I do not believe that investment banking should be under the same umbrella as an institution which takes deposits from the British high street. I think if you are taking deposits from the British high street then you are a lender of that money. So you're extending credit in terms of mortgages and in terms of credit terms. You are not leveraging up many times and betting on where the Korean Won might trade versus the Japanese Yen. If the bodies who are subject to risk taking... if as a result of them making mistakes they either lose money or they jeopardize their future, then the risk that they take will be a more calculated and a more socially endearing form of risk-taking, a more durable form of risk-taking. If on the other hand they have no fear of the consequences of their risk-taking, which is how you would characterize the last 5 years, then we all end up paying the consequences." original airdate: Tuesday 21st September 2010
Views: 32701 gmshadowtraders
Hugh Hendry - on deflation, index-linked securities & bond v stock markets
 
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[If you believe in fundamental economics then at some point this must be inflationary?] "Inflation, inflation, inflation. I think what we can say categorically is that the inflation scare from the relative price highs in commodities was a head fake. It was a head fake at a massive cyclical turning point for the economy. This is profoundly deflationary. All of this is untested. Japan is the only one that tested Quantitative easing. Where is the Nikkei 18 years later? For all the talk of rising levels of government debt it is occurring at the same time as corporate and personal sector debt is contracting so they're cancelling themselves out and leaving us with this deflation. I think you're right on your emphasis with index-linked. You should be buying my American securities because the break-even rate is 6% (compared to 2% for the UK). I almost want to lose money on this thing! I'm guaranteed 6 real okay. For me to lose money prices in America have to fall by 6% this year and 6% next year. That's almost never, never happened. But let's say it does and let's say prices fall 20% over that period. Do you know where the S&P will be?? It will be like 300 points. And I will have lost 10%. I will be a giant amongst dwarfs at that point. There is a massive disconnect between the corporate bond market and the equity market...one of those markets are wrong and one has professional people. My money is on the bond market being more right than the equity market."
Views: 2557 gmshadowtraders
Singapore - Protest Against Rich Foreigners (NHK)
 
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Copyright NHK (Japan Broadcasting Corporation) All rights reserved. Used only for educational purposes. NHK World: http://www3.nhk.or.jp/nhkworld/
Views: 25210 gmshadowtraders
When China rules the world (CNBC)
 
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Full video here http://video.cnbc.com/gallery/?video=3000092402 Martin Jacques, Author, "When China Rules the World" says China's potential power is underestimated. He further explains why China will replace the US as the world's dominant power.
Views: 3518 gmshadowtraders
Peter Schiff - Central Banks are a road to nowhere
 
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[Why do you think central bankers should step aside? Most people think they should do more to get a recovery on track] (Peter Schiff) The problem is they've already done too much. The reason the economy is in such bad shape is because of the mistakes the central bankers have already made in the past. Continuing to repeat those mistakes isn't going to grow the economy, not in real terms. Go back to the housing bubble, that was the creation of cheap money, artificial interest rates by the Fed. The reason we had the bursting of the bubble, that was the payback from the central bank stimulus from 2001-02 after the NASDAQ bubble blew up. So more of that cheap money policy is not the answer, it's the problem. The solution is the free market. We have to let interest rates go up, we have to let economies restructure. Only after that happens can we have a legitimate recovery. [But then you have to take the pain, the high levels of unemployment, the pain of that restructuring. US and Europe will suffer pain!] (Peter Schiff) But we're still suffering. It's going to get worse. We're just postponing it. At least if we do the right thing we have productive pain, we get the gain associated with the pain. All the central bank stimulus is to get us to spend more and borrow more and getting deeper into debt. That is making it worse! [What should governments do? The politicians?] (Peter Schiff) The best thing the government can do is to minimise the burden that government places on the economy to make it easier to get out of the hole. That means shrinking the size of government cutting government spending, eliminating government programs and departments, repealing regulations. It's not what governments should do, it's what governments should undo so we can free up the economy and have a speedy resolution to the problems. Land, Labour and capital that produces more goods and services and creates more jobs in the process. 10 Aug 2012
Views: 4254 gmshadowtraders
World Heritage Wonders - Taj Mahal (UNESCO/NHK World)
 
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'Monument for the Beloved'. Taj Mahal, Agra, Northern India. Full video here https://www.youtube.com/watch?v=KZzgvng_5GE Copyright NHK (Japan Broadcasting Corporation) and UNESCO TV. All rights reserved. Used only for educational purposes.
Views: 6555 gmshadowtraders
The Euro collapsing - Stiglitz v Hendry
 
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10 Feb 2012 BBC News Professor Joseph Stiglitz, winner of the 2001 Nobel Prize in Economics Carlos Casajuana, Spanish ambassador to London. Hugh Hendry, a hedge fund manager betting against the euro. Prof Joseph Stiglitz -- (He is advising the Greek government) "The issue isn't a bailout -- Greece isn't Citibank, it is a country. There is solidarity. A debt / GDP ratio of 130% together with real interest rates at 1% or 2%... that's a small fraction of GDP." Hugh Hendry -- "Hello? Can I tell you about the real world? Greece is paying 7% on 2-year money. In real terms we are talking about 9%. You refer to the rate for the non-cheating countries. You organize your country in a sensible manner and show fiscal restraint.....but Greece never used the good time to save money. It finds itself compromised because it spent all the money in the prosperity."
Views: 2790 gmshadowtraders
Maersk Line's Triple E-Vessel - World's Largest Ship (CNBC)
 
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Full video here http://video.cnbc.com/gallery/?video=3000161182 "The world's largest ship". Nils Smedegaard Andersen is A.P. Moller-Maersk Group CEO. This video supports the thesis that global trade is what drives the economies of the world still to this day.
Views: 4895 gmshadowtraders
Nassim Taleb v Richard Dawkins - Atheism, Markets & Inconsistency
 
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Feb 4 2008 Nassim Nicholas Taleb is author of 'The Black Swan: The impact of the highly improbable (2007) as well as 'Fooled by Randomness' (2001). He is a Professor in the Sciences of Uncertainty at the University of Massachusetts and has also held positions at Oxford University, London Business School, New York University and Ecole Normale Superieure in Paris. "I don't believe in beliefs, I don't believe that we humans use beliefs to act. I think beliefs have some other purpose. But the problem that I find very inconsistent and I don't know if some of Dawkins' friends or these guys are here. I find it extremely inconsistent to be suspicious of the bishops and be a sucker when it comes to the stock market. These people have double standards. Dawkins says anybody who rides a plane when they doubt the laws of physics is a hypocrite. To me anybody who is invested in the stock market who is critical of religion is a hypocrite! There's nothing wrong with being critical of religion but you've got to go all the way. What happens is our scepticism is domain-dependent."
Views: 30797 gmshadowtraders