Friday, August 21, 2015

And some news

And here's some Friday news:

Bespoke - bah god King the S&P's been chokeslammed straight to hell! Everything's -3SD, which is silly when you think about it. Consumer discretionary, financials - what, is it 2008 all over again?

Economist's View - Krugman says debt is good. This one's sure to provoke a foaming-mouth response from the patriot & bible crowd, but it makes perfect sense if you know anything at all about the market for loanable funds and how one person's savings has to be another person's debt.

FT Alphaville - of China's dirty peg and spreading EM pain. Gee... this sort of sounds like the kind of EM secular bear market that you get when the US is in a secular bull market, eh? Anyone ever read Jim Rogers or am I talking to nothing but crickets here?

BBC - Finland considers a basic income. Well, if it means you can completely eliminate old age security, old age pension, welfare, unemployment insurance, handicapped benefits and child benefits, and replace them all with one single living-wage benefit for everyone, which entails the complete elimination of huge bureaucracies, which also means existing income is now taxed at a higher bracket... FFS what's so bad about that, you small-government wackos? Personally, I like it from the "citizen's dividend" point of view - my country's government should be paying me to put up with their shit. - is this gold price jump the turning point? Well, if Shanghai Chaos has dumped its short, then yes. $1150/oz, eh? Wonder how that happened?

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