Here are a couple of pictures I found that I may or may not use.
The picture below is from Cumberland Advisors
Another interesting fact I found is that China's International Investment Position is 10 trillion 1 trillion dollars. I will explain why that is significant in another entry.
Lack of updates? I would say you have too many; hahaha. I read 3 or 4 posts that came on within 1 day. Mish barely gets 2 per day. I check 3 sites every day, this site first, mish's and coinflation.com. Your's is by far the best.
Hello Eric,
First thanks for your very mind-stimulating comments. It's really nice to see that some people do get out of the mainstream thinking always assuming normal indefinite growth.
I agree with most of what you write, but I'm a bit skeptical about the prediction that Germany and the other big european countries would eventually refuse to bail out weaker ones. I leave in France and I guess everyone here assumes that if eurozone founding members such as Club Med countries (Italy, Spain, Portugal)leave, the common currency would not survive.
Even though I do agree that hyperinflation has completely shaped economic policy in Germany, I'm unsure whether they'd refuse to support other eurozone members and risk a comeback to national currencies. More than an economic issue I guess we have to think about it as a political one, and as such the choices of countries' leaders will not necessarily be the most economically sound ones.
Hello Eric,
good stuff, keep up.
If it is from interest:
- Mr. Hayek (Swatch clocks) did close all his banking accounts with CS and UBS in the Swiss as he feels they are not save anymore (but he hates those banks, too) (http://www.cash.ch/news/alle/hayek_hat_swatchgelder_von_grossbanken_abgezogen-747952-448)
- Japans exports collapsed in comparison to 1/2008 (-45%) (http://www.customs.go.jp/toukei/shinbun/trade-st_e/2009/2009014e.pdf)
But there also good news:
- In the US there income taxes are only voluntarily - that is cool! The video carries interviews with IRS guys, curt case evidence, etc. pp. (http://video.google.de/videoplay?docid=-1656880303867390173&ei;=H4-lSezKFY-o2wKe_f2wBg&q;=Aaron+Russo&hl;=de)
One too many zeros Eric. China’s International Investment Position (net) shown at that link is just over 1 trillion dollars.
Yes, I agree - just over 1 trillion, as base units in that table are hundreds of millions...
By the way, US net position is about MINUS 2,5 trillions for the same period.
Eric:
BIS Data Misinterpreted - East Europe Not That Bad !
Have a look at this article today on MarketWatch.com - the Austrians claim the Easter European debt problem is FAR SMALLER than feared - due to GROSS MIS-INTERPRETATION of Bank of International Settlement data.
http://www.marketwatch.com/news/story/Austrias-Erste-says-debt-levels/story.aspx?guid={F7C61CF2-FB3C-4373-B59C-92E0F41D5D30}
If their contention proves correct - perhaps the Euro should be revisited in light of this ?
Robert Lahey