Monday, January 19, 2015

Some Monday reading

I'm not going to buy any more miners today, because frankly they'll just get sold back down tomorrow by idiot Americans who don't even realize that gold has gone up 10% this year.

So here's some stuff for you:

BBC - richest 1% will soon own more than the rest of the world combined. It's nice that the media's getting all worked up about inequality, but it's not as if the mewling sycophantic bastards will ever do anything about it. You're still reporting on David Cameron as if he's not a retarded buffoon who read all he knows about economics from the back of a cereal box.

Until you start reporting the truth, you filth in the lamestream media are nothing but lapdogs of the worldwide kleptocratic class.

FT beyond brics - India faces a massive education challenge. Erp! Jim O'Neill looks like a right git in his India call when you read this:
By 2030, the economies of India and China together may contribute 65 per cent of global GDP and be home to the majority of the world’s working age population. India alone will possess the world’s biggest pool of potential employees.

But the giddy predictions of future growth seem more fragile when it is considered that this potential labour force is dependent on education systems that often fail to teach basic skills.

India has the largest number of illiterate adults of any country globally. Teacher absenteeism is the third highest in the world, and many teachers lack basic training. Some 12.8m young Indians enter the work force each year and, without adequate skills, will often struggle to find employment.
I'd agree that 1.3 billion ignorant, illiterate peasants is not a good base upon which to build growth, because there's only so much productivity you can get out of them.

Bloomberg - an utterly useless article on the impact of the advance in A-shares. Every single "prediction" includes a "would", "could" or "may": therefore, the entire article is nothing but baseless speculation from someone who has his head stuck up his own ass.

Seriously, people: a sentence like "the money sucked into the share market may exacerbate competition for funding" is wasting my fucking time because an economist who spends a few hours looking at the data could tell you exactly what the impact will or won't be.

Bloomberg, go fuck yourself and quit wasting my fucking time with baseless speculation. If Dorris Chen, Jim Antos, Lu Ting, Rainy Yuan, Judy Zhang and Liu Changjiang presented data and models, please tell us about them: if instead they just ignorantly made shit up, tell us that they just ignorantly made shit up. I'm tired of the press reporting baseless speculation as news. - Sharps Pixley calls for $1321 average gold this year. Pft. Pussies. I'll call $1400. People are still blaming the rise in gold on the Swiss central bank decision, when in reality it's been going up since the first day of the year. As long as they all remain blind to the truth, gold will keep going up.

Bloomberg - hey, didja hear China still needs metals? Then again, Rio Tinto has already flagged bauxite and copper as high-demand metals for China next decade, so I think we can assume they'll destroy those markets the way they destroyed the iron ore market:
“You can’t build a refrigerator without putting in our commodities, you can’t build a washing machine, you can’t build a car,” Sam Walsh, Rio Tinto’s chief executive officer, told investors at a Dec. 4 seminar in London.
And you can't make money on a metal once Rio Tinto decides to wade in and build a bunch of low-cost supermines to corner the market.

i09 - 80% of Americans support mandatory labelling of foods containing DNA. Personally, I stick to a diet of good old fashioned glucose, salt, and ethyl alcohol. No pesky DNA there!

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