Posts Tagged ‘Davos’
January 22, 2013
First and foremost: Notes From Underground has become a global community and the outpouring of support and condolences to my family has been phenomenal. Again, my heartfelt thanks to all who expressed such wonderful thoughts.
Much has transpired since last Sunday as the Swiss franc and the Japanese yen have continued their recent weakness as intervention with the intention of forcing the YEN and FRANC lower have been very successful. Also, as usual, I will poke at this weeks circus in Davos, Switzerland. From my perspective, the entire conclave of insider trading–as the rich and business elites gather to discuss ways to save the world–in the last 20 years are a direct result of the political and economic movers and shakers exchanging ideas in the Swiss Alps. Yes, we go from crisis to crisis.
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Tags:BOE, BOJ, currency war, Davos, German election, Jens Weidmann, Mario Draghi, Mervyn King, Prime Minister Abe, QE, Shirakawa
Posted in BOE, BoJ, Currency, ECB, Germany | 12 Comments »
January 23, 2012
It is that time on the calendar when the FOMC gathers to discuss the economic landscape and analyze the output of flawed models to set a course with the a strong sense of absolute certainty of their convictions … at least until the next crisis. Many analysts are spewing the concept of another QE program so as to give the recent improving data some extra lift to insure that the recent growth has legs. It would be a bad decision for many reasons but the top three arguing against any new QE program are:
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Tags:Bank of Israel, Bernanke, Davos, dollar swap, Europe, FOMC, Hill, LTRO, QE, Ron Paul, State of the Union
Posted in Fed, United States | 2 Comments »
January 19, 2012
The Obama Administration has taken recycling way too far. There is a rumor that former economic adviser Larry Summers is a potential nominee for President of the World Bank. Is there no one else besides these retreads who have represented and worked for the FINANCIAL-POLITICAL COMPLEX? Summers is a horrible choice as he has been tainted by his work and exorbitant compensation for several Wall Street firms. The idea that the World Bank president has to be an American is a throwback to the times when it was ok to fight anti-colonial wars around the globe and at the same time using the World Bank’s funds to buy friends and influence people no matter how tyrannical the regime.
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Tags:crude oil, Davos, Financial Times, Larry Summers, Mohamed El-Erian, Obama, Simon Johnson, World Bank, Yen
Posted in Currency, Japan, United States | 3 Comments »
December 18, 2011
All these years of the high level meetings at the World Economic Forum in Davos and what do we have to show for its efforts? At the INSIDERS BALL, where the elites exchange views and pay up to $500,000 for the privilege to listen to ideas that are to move the global capitalist system forward. If the results of the last decade are the aggregation of the best ideas that the “best and brightest” are capable of, then it is time to end the charade of Davos and send the global elite home in tears before they can cause any further damage? The DAVOS crowd has fared well as the global economy has suffered creating a huge question mark over the policy output that is the result of the global hierarchy gathered in the scenic environs of Switzerland. This view is not new as the economist Adam Smith warned long ago:
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Tags:Adam Smith, Barron's, bond bears, bond market, bond vigilantes, Davos, debt crisis, ECB, Fed, gold/euro, LTRO, QE, Van Hoisington, Wealth of Nations, World Economic Forum
Posted in Debt Market, ECB, Europe | 2 Comments »
February 2, 2011
Now that the lights have been turned off at the World Economic Forum in Davos, and all the sycophants have praised the wealth creators of the world, the question must be asked: What takes place in this beautiful resort that people spend up to $500,000 for the privilege of sharing thoughts with the global movers and shakers? If so much can be gained by listening to policy makers in private sessions, shouldn’t the whole FORUM be deemed an inside trader’s paradise?
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Tags:Adam Smith, Davos, ECB, Euro, Fed, insider trading, jobless claims, QE, SEC, World Economic Forum
Posted in Debt Market, Europe, Federal Reserve | 1 Comment »
