- Obama's two-pronged economic problem (WaPo)
- Obama will ask for extension of Bush cuts (NYT)
- Japanese machinery orders decrease 14.5% in May (ESRI).
- Chinese inflation slows to 2.2% (FT)
- German export orders rebound (FT)
- French business asks for shock supply treatment (FT)
- German anti-euro backlash increases (Marketwatch)
- Dealers less likely to part with treasuries (BB)
- Hong Kong and Vietnam signal growth will slow (BB)
- BOJ fights deflation with aggressive policy (Sober Look)
Monday, July 9, 2012
Bonddad Linkfest
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2 comments:
The missing link: http://www.nationalreview.com/articles/304935/obama-s-goose-cooked-larry-kudlow
Dear Bonddad and NDD,
Having read your blog for several years now, I have come to the conclusion that you both fundamentally misunderstand the nature of financial analysis. To help you correct your errors I humbly submit the following guide:
1) You need to make earth shattering predictions: Something like, “Paraguay’s cornering of the Pistachio market signals the imminent collapse of the IMF and the international banking system!!!!”
2) You then gather all the relevant economic data and pitch out any that does not support your thesis. Then present the remaining information, say the current price of pistachios and the IMF funding levels, without any necessary context.
3) From this data create a new number: say Spot Price of Pistachio’s / North Sea Brent Crude Price. Announce that this is the SINGLE MOST IMPORTANT number ever generated in the history of financial analysis and is the key to understanding THE WHOLE FINANCIAL SYSTEM.
4) From point 3, conclude that this new number signals the coming collapse of something big and complicated.
I hope this is helpful. If you had followed this system you would, by now, have successfully predicted the following: Greece Leaving the Euro (you would have predicted this several times), the collapse of Bank of America, Citibank, Barclays, IMG, and the entire US financial system, Peak Oil, oil price collapse, gold at $3,000 AND gold at $500. I could go on, but you see how many big events you have missed. I suggest you follow my four step process to rectify your errors.
Thank you for your time.
Ps. Please do not point out that none of the above events have happened. Appeals to the counterfactual nature of many predictions shows a decided bias towards actual market conditions that is tiresome and needlessly complex. Another mistake that needs to be corrected in your blog.
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