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As I have mentioned before, shouldn't we all be happy with this? This is the govt effectively taking money out of the retirement accounts of govt employees... I thought cutting public sector benefits was supposed to be a good thing?

You might be talking about his May letter. His "financial repression" thesis (which actually belongs to Reinhart & Rogoff) is not about the govt capping bank deposit rates. He's suggesting that the govt will cap the yield on long-dated treasuries. This will likely have an effect on deposit...

Exactly my point... So maybe it would be a good idea to stop creating more threads, given all this?

I don't know quite how else I can put it to make you understand. Just like in trading, it's very important to NOT put the cart before the horse. It's not a good idea to start thinking about "perfect" outcome. It's a lot better to think about the worst and the median cases. Try doing that...

Amen

And? How do you know your father would have invested? How do you know he would have invested in the right stocks? At any rate, let me explain. There's a lot of reasons to believe that humans (including you and I and your father) are stupid and irrational. We like to consume things in the...

Pls stop being silly...

God uses binary, obviously. Assembly is the language of choice.

Sure, could happen... For now, maybe this offers a somewhat limited way to reduce the public sector benefits.

Here's the link with some details: http://www.msnbc.msn.com/id/43046428/ns/business-stocks_and_economy Looks like they're suspending payments into a couple of govt employees' pension funds. I was under the impression that this should be a good thing, as this means money is being taken away...

Not correct... It's a well-known fact that China transacts a large proportion of its treasury purchases through the UK. See here, for example: http://www.ft.com/cms/s/0/7956362e-4437-11e0-931d-00144feab49a.html If you take the Mar 2011 figure, the increase in purchases by the UK more than...

I am short AUDNZD and, provided it goes higher, will be short some AUDSEK or AUDNOK. I don't wanna do it vs USD.

Who said anything about homosexuality, Fredo? You and I, we got smth special and pure going, pure as the driven snow... I love that you're friendly with them Jooos. Next thing you know you'll have a bunch of cute Jooooish kids and we'll all live happily ever after (including Dominique)...

Nah, I mean things will work out between you and I, Fredo... You complete me! This one's for you, Fredo... <iframe width="425" height="349" src="http://www.youtube.com/embed/2SzE08aInn4" frameborder="0" allowfullscreen></iframe>

A bit extreme, don't you think? At any rate, look what I've done, I got you all agitated, Fredo. Why don't you go drink some herbal tea and meditate or smth? It's all gonna work out somehow in the end.

This one's for you, Fredo :) <iframe width="560" height="349" src="http://www.youtube.com/embed/FcFlp6kl508" frameborder="0" allowfullscreen></iframe> Fredo, you're nothing to me now. You're not a brother, you're not a friend. I don't want to know you or what you do. I don't want to see you...

God, you're a real gem... So the Russian govt (borrower) is lying and the IMF/World Bank/Paris Club (creditors) are all lying as well? Ah, I know it was the aliens! The IMF/World Bank funds are backed by the guarantees of the member govts, as well as 2,814.1 metric tons of glod. You...

It's OK, somehow I don't think our friend lfred would notice. I get the feeling attention to detail isn't exactly his strong suit :).

Pls stop spouting bullsh1t... Russia did keep borrowing from the IMF and the World Bank in the aftermath of the 1998 crisis. See, for example, here: http://www.imf.org/external/np/sec/pr/1999/pr9935.htm Russia also did repay the Western creditors. I have already mentioned the...

Indeed. Moreover, the whole "fuhgetaboutit, we're not paying you back" story is inaccurate. For example, Russia has, in fact, re-negotiated/pre-paid/bought back/repaid all its debts to the Paris Club, including those it inherited from the old Soviet Union ($48bn). So the idea that countries...