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Thursday, October 31, 2013

Some news



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.




1 comment:

  1. Chicago PMI jumps: http://www.businessinsider.com/october-chicago-pmi-2013-10

    Calling all Doomers - this kinda stuff is a real threat to the narrative. Crank up the blog machinery and crank out more "end of the US economy blogs". Get the herd of idiots in line and keep them sending the checks and going to the goldbug conferences to pay to listen to Peter Schiff.

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