Some bad mojo in the air

[smallStops]

Foreign bank exposure to Turkey (with the Greeks being the largest).

Is there a place where one can find the same chart for a given country other than Turkey?

 

[tradingjournals]

Martinghoul may not be a fed defender, but I am very much one -- the Bernanke fed that is, not the Greenspan fed. Even though Bernanke was a governor when Greenspan was Chair, these two are as different as oil and water. Greenspan is a "libertarian economist" whereas Bernanke is a "new Keynesian". You can't get much more different than that!

Ben Bernanke should be recognized for his outstanding leadership of the fed through an extraordinarily difficult period. And now the tapering is being handled with, again, extraordinary skill. I wouldn't expect anything other than a continuation under the competent hands of Yellen. It was time for a correction in the U.S. Market in any case -- it's healthy.

Bernanke should have been removed from his position, because he is responsible for the extraordinary difficult period for which the above post gives him credit. Moreover, people more competent than him foresaw the crisis, told him what was about to happen and yet he disagreed with them and did the opposite of he should have done. The people who foresaw the crises and gave advice were not offered the chance to lead to avoid the crisis or to help solve it, yet we have one other posts drooling over those who at best are not among the top of class.

 

[achilles28]

So, my dear Fed apologist, they can't be about both, is that it?

Is it politics affecting the RUB, INR, HUF, etc...

Emerging markets are teetering. All the analysts for the past month seem to tie it to tapering (although, in fairness, particularly in Turkey, the political realm is a substantial portion) but you know better than any of them, is that it?

I think your both right. Obviously tapering is huge dollar strength. Already weak EM having troubles with deficits and inflation....it's like fuel on a fire.

 

[tradingjournals]

I didn't mean I am not a Fed defender. Like I have said many times, I am, in fact, a defender of the Fed, but that doesn't prevent me from being critical of some of the Fed's policies.

You remind me a guy who would defend anything a person would say or do as long as that person holds a powerful position.

 

[tradingjournals]

You're a Fed defender that rarely criticizes anything the Fed does, and when you do it, you do it so you can say you're unbiased. But that's fine.

Piezoe is a clueless academic and a progressive. It's no wonder he likes Bernanke (another academic).

I doubt the academics like Bernanke. If anything they may feel injustice in not having been offered the chance to lead and to avoid the crisis, particularly those academics and other economists who were proven right in their forecasts.

 

[tradingjournals]

Martinghoul may not be a fed defender, but I am very much one -- the Bernanke fed that is, not the Greenspan fed. Even though Bernanke was a governor when Greenspan was Chair, these two are as different as oil and water. Greenspan is a "libertarian economist" whereas Bernanke is a "new Keynesian". You can't get much more different than that!

Ben Bernanke should be recognized for his outstanding leadership of the fed through an extraordinarily difficult period. And now the tapering is being handled with, again, extraordinary skill. I wouldn't expect anything other than a continuation under the competent hands of Yellen. It was time for a correction in the U.S. Market in any case -- it's healthy.

In relation to Green Span, could someone find a copy of his doctoral thesis?

 

[Tsing Tao]

I think your both right. Obviously tapering is huge dollar strength. Already weak EM having troubles with deficits and inflation....it's like fuel on a fire.

Yes. But if QE was running full blast and there wasn't a taper in sight, the impact of weakened EM currencies would be very minimal.

 

[Martinghoul]

You remind me a guy who would defend anything a person would say or do as long as that person holds a powerful position.

Huh? How does this make any sense whatsoever?

 

[achilles28]

Yes. But if QE was running full blast and there wasn't a taper in sight, the impact of weakened EM currencies would be very minimal.

Imo, the impact is minimal. MSM conflated the selloff in EM's as precipitating the DM selloff. I think that's erroneous. Tapering is deflationary. Hence asset markets, earnings, and home sales are adjusting downward. My 2 cents.

 

[Tsing Tao]

Imo, the impact is minimal. MSM conflated the selloff in EM's as precipitating the DM selloff. I think that's erroneous. Tapering is deflationary. Hence asset markets, earnings, and home sales are adjusting downward. My 2 cents.

Think of EM markets and currencies as those asset markets you refer to as adjusting downward.