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Harder for them to fake dividends; SNP (Sinopec, 20%) . Companies with > 50% State ownership are delisting from NYSE over an accounting dispute of several years duration. SNP, among the world's largest petrochemical companies, has reappeared in the U.S. with symbol SNPTY ? I assume it is OTC...

“It requires neither courage nor prescience to predict disaster.” --- J. K. Galbraith

Wait a minute! This is decidedly untrue. You been living under a rock? No one disputes that the Fed contributed by continuing QE too vigorously after the Congress stepped in with focused fiscal measures to alleviate pain from Covid layoffs and shut-downs. The fed action on top gave us a...

My impression is that our sources of news are very different. There are some people that it would be a waste of time for me to try and have a dialog with. It seems you are one of them.

Thanks for that viewpoint. It's very interesting to me. I guess we should learn much in the next few months. What I'll be looking for is an indication that "this rebellious instinct" really has been "bred" out of the Russian population, as you suggest, or whether it is just suppressed and will...

Those who engage in these "what about" arguments haven't given much thought to the difference between making horrible mistakes without acknowledging them and then criticizing others for doing the same, versus acknowledging your past mistakes and changing your behavior going forward. The former...

You are one of the experts here on Russia, so your opinion matters. I think we agree that this war is unwinnable for Russia, and that it is the Russian People who will play a pivotal role in bringing the war to an end. I am interested in your opinion, however, regarding whether those at the...

Sometimes things are done for moral reasons rather than for personal gain. In fact they can be done despite personal loss. This is a feature of human nature, not to recognize this is to deny your own humanity.

If you want to say the temporary money from low rate, fractional reserve, private bank lending is "printed", then I suppose when these loans are paid off you will want to call that "shredding". :D

What would you do differently.? You are possibly confusing temporary money from fractional reserve banking, i.e., credit, with semi-permanent money printed by the government. By the way, the outward appearance every time you use your credit card is that of using zero interest "credit". Of...

There are two factors at play: inflation and dollar strength. Normally these track each other inversely, but not always, as for example right now. We have recalcitrant inflation, but not increasing significantly, and a strengthening dollar. A weak dollar pushes equities up. A strong dollar...

I completely agree with this. I think the Powell fed especially has been poor at foreseeing what was coming down the road and been slow to react and not very imaginative. I thought Powell was a bad choice to lead the fed, said so at the time, and why.. The fed started to taper QE when the...

leave out government here. But it would be perfectly correct to be concerned about the pace at which deficits for non-investment purposes are being racked up. For example, deficits spent on wasting assets may lead to trouble because we can't expect a corresponding boost in productivity down...

we must remember too that Argentina borrowed in currencies other than their own. Same problem Russia has today. That's real debt that can't be escaped by money printing! What the U.S. is doing, and can get by with because of the special circumstance it finds itself in as the supplier of the...

Ahem. The Fed can't admit defeat, they are ordered by Congress to do those things. The Congress seems not much concerned that they have asked the Fed to do something that can be difficult at best, and may not always be within their power to do. You have based your beliefs on false premises...

This is interesting, but of course it is silly in at least two places: a) the Fed is not like Credit Suisse, Credit Suisse is a private bank. The Fed is a thoroughly Government Bank, i.e., it is not in the private sector; it's in the government sector!; b) Treasuries no longer represent debt...

Good thinking!

It wasn't bankrupt in 1933.

I have posted on this extensively in the economics forum. Please do a search on Piezoe in the economics forum. I can summarize here though: "U.S. Treasuries serve entirely different purposes than that of borrowing." It is simply an unfounded myth promulgated by politicians, primarily...

Again, we do not borrow, not currently. But of course they care how many Treasury securities we issue. And that, by extension means they care about our deficits! They certainly care about the interest rate on Treasuries. But if the care about whether the Treasuries get paid off, they don't...