Thursday, October 31, 2013
Michael Shaoul - FOMC statement. Some thoughts on the change in language.
Michael Shaoul - Japan housing starts. He still seems to think the data points to expansion, and not just moderation of the 2 decades of Japanese gloom.
FT beyond brics - India and gold part 1. Some basic facts about India and gold, including a link to a not-directly-related report on women's participation in the jewelry industry by the Federation of Indian Chambers of Commerce and Industry. For god's sake Avantika, FT wants you to link to primary sources, not to parentheticals.
FT beyond brics - India and gold part 2. On the gold-backed loan system in India. Why does the government have a problem with this? It provides a way for otherwise penniless peasants to access capital, and the loan is even asset-backed. Only 800 tons of India's gold gets encumbered this way, nothing that could severely kill the value of the underlying asset. And as for the gold-loan companies who were issuing loans based on gold, the problem with them is simply that they didn't hedge their gold position against losses the way any modern business would.