Category Archives: Money

“Dear Ben Bernanke, Please Do Our Job For Us”

PBOC gov Zhou Xiaochuan doesn’t quite understand that the Fed sets policy for the American economy, and the PBOC sets policy for the Chinese economy. Have a taste of this fine whine from his speech at the Boao Forum yesterday, … Continue reading

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Two thoughts on the DBS/Danamon deal

DBS Bank has just launched the largest ever banking M&A deal in south-east Asia, offering more than SGD 7 bio to buy Indonesia’s Bank Danamon (which is 67% owned by Temasek, the SWF that also owns a one-third stake in … Continue reading

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Everything old is new again

One of my favourite passages in Josh Brown‘s new book Backstage Wall Street talks about the “embarrassing” and “egregious” TV spots that online brokerages ran back in the bubblicious days of the late ’90s: Of all the shockingly irresponsible commercials, … Continue reading

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China in one statistic

“60% of […] Chinese people with assets over 10 million yuan ($1.6 million) were either thinking about emigrating or taking steps to do so.”

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Laws, sausages, and earnings articles

This leaked out onto the Ruetres wire yesterday afternoon: 15:37 08Feb12 RTRS-HOLD-UPDATE 1-Lenovo Q3 net profit // slows for 3rd straight quarter (Adds quotes, details) * Q3 results up XX pct to hit record * Weak Europe demand, Thai floods … Continue reading

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“China inflates bubble in obscure asset class” is the new “dog bites man”

The country that gave us bubbles in equities, jade, paintings, shares in paintings, table salt, fermented tea, fake French wine, 19th-century stamps and silver is now inflating a bubble in – hold your nose – dead-caterpillar fungus. The price of a pound of the fungus (which grows in the brain … Continue reading

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Also back: padded shoulders and dollar-sign suspenders

In the eighties, it was Aussie farmers. In 1998, it was Indonesian noodle makers. In 2008, it was Icelandic car-buyers and Chinese steelmakers. In 2010, it was Hungarian homeowners. In 2011-12, it’s Indian car-makers. Yep, foreign currency loan explosions are back. … Continue reading

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In which Iran’s economy implodes (and the Buried Lede would be a great name for a Fleet Street pub)

The buried lede in today’s news seems to be the rapid collapse of the Iranian rial. The official central bank peg is currently USDIRR 11,240, but the black-market rate has been slowly ticking higher for months – and in the last … Continue reading

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A channel check: what’s happening to Australia’s retail sector?

“…and then in October, it all suddenly… died.” The Aussie retail sector has been in dire straits lately. The economy is chugging along nicely – GDP growth is running in the mid-to-high 2s, inflation is in the mid-3s, and terms … Continue reading

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The Decline and Fall of the Sunshine Empire

Unless you read the Straits Times (and my deepest sympathies if you do), Sunshine Empire might be the biggest ponzi scheme you’ve never heard of. Between 2003 and late 2007, the company took in more than $180 million from investors … Continue reading

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