and I didn't go digging around into an online database with subscriptions yet...we can get this information from other sources.
Merrill does have a global wealth report online, for public viewing, free. There it also shows how the financial crisis was not only 10 years in the making, but also fueled by increased leverage of the middle class (debt).
Read both posts linked have a depth of info, the LA Times story as well as Baseline Scenarios additions. Baseline Scenario also reviews a large report done by Zero hedge.
I just posted this and looked over at the title RSS feed to find this post on NC .
I just scanned it and the approach is different, describing various macro economic theory as being all wrong....
but the focus is almost identical to my post....it's all because the middle class, i.e. the consumer is getting royally screwed here and the focus should be on income.
Maybe everyone will scream in unison, it's about income people! Focus on policies to increase median income, generate high paying jobs!
With our leaders willing to deficit spend their way out of this mess, why are our they so fixated on banks and auto dealers? Oh, I forgot, poor people don't vote as much and don't make campaign contributions. But they also don't save. Perhaps the TARP funds could be reprogrammed so that assistance to the poor and disabled could be built into increasing their benefits under existing programs. Sure, you'll never see it paid back to the program, but you will see demand created -- they don't save.
Frank T.
Understanding that capital pools have chased high returns and leverage, isn't it time to remind these pension funds that they have been given a "trust" responsibility for employee pension funds? What does the Governator have to say on the subject? Will they pay their retirees with IOUs? Just when we begin to fret that some entities are "too big to fail," we get the news that our venerable state leaders are standing on the tracks, waiting for the Las Vegas express to arrive. Will Uncle Ben and Uncle Tim be called upon to devise yet another clever program to rescue these American institutions?
I added the Pension Pulse RSS title feed to the middle column. I try to put exceptional insight, original writing and also blogs that are maintained (unfortunately some economists abandoned their fantastic information blogs....understandable, a lot of work for no money!), new posts...in the middle column.
I also added the IMF blog, where I'm putting the government affiliated blogs in the right hand column. If you haven't checked out the Atlanta Fed blog....these guys are awesome...
Just generally speaking while I know all are blasting the Fed...on the other hand they give so many cool tools, data and exceptional commentary reports...well, I'm personally thrilled at what they have been doing in that end.
I hope all realize you can just click on the title and it will launch a new tab, (should be a tab!) to read that particular blog post.
I noted this sometime ago (and since I'm somewhat slow, I'm sure I'm probably repeating old news), that private equity firms, utilizing pension funds for the funds of funds (CFOs, etc.), went about on their raping and pillaging of companies (leveraged buyouts, loss of employment, shredding of viable companies), thus the pension funds were helping in the descaling of the American economy.
I've noted some others mentioning that this "healthcare reform" may be nothing more than a backdoor bailout of the insurance industry, and given the amount of insurance-linked securities utilized in the AIG bailout, it's beginning to make a lot of sense.
it doesn't specify if it is Residential or Commercial.
I think that's a key, I trust CR on housing and while they are projecting more price drops, there is also evidence a bottom is in, or close...whereas CRE is just getting started.
Rebel, if you want your post on the front page, hit the up arrow on the left...
people aren't using these arrows to promote to the front page enough.
I'm not sure what his reference is to people don't understand the difference between logs and percentages, except perhaps people do not realize a logarithm does average, or act as a low pass filter, it smooths those spikes that one would normally see in a % graph. So, he's implying those 2x inverse return ETFs have drift...
and on this score, I've been wondering about DUG, SKF (Proshares ultrashorts).
the Ohio Public Employees Retirement System saw its total assets grow by 3% to $50.2 billion year-to-date through June 30, but real estate was a big drag on its results. The fund’s real estate assets, which account for about 8% of the fund’s total assets, dropped 12.2% during the same period to approximately $4.2 billion. The decline was beat only by the drop in private equity holdings, which declined 18.22% for the year.
Or CALPERS
The bellwether institutional investor reported that the value of total assets under management at the end of June was $180.9 billion, down from $237 billion a year earlier, or a drop of 23.6%.
Real estate values accounted for the biggest chunk of the decline, falling 35.8% during the period, followed by private equity with a 31.4% decline.
great article. But,sadly, it never helped the Japanese increase money velocity. Although, without The Japanese requiring the pension system to hold 67% in JGBs, its not clear how the JGB market would have turned out.
Honestly I'm not so sure how taking on a new car payment helps that much....that said, it's better than nothing and it sure seems to have jacked up durable goods as well as industrial production and that's all very good because it implies U.S. jobs.
Someone bought gas futures options (not oil, natural gas) to triple in the next year (large hedge fund) so if oil jumps back to insane prices AND someone bought a super fuel efficient car with the cash for clunkers, it will help out in the long run.
WSJ has subscriptions so how much are they investing...which is incredible because CRE is being reported as the next neutron bomb or at minimum has not "hit a bottom".
You are right when you say that there most consumers are not seeing any of the effects promised by the stimulus. They had a perfect opportunity with the cash for clunkers system to make it good for those without cars but they even dropped the ball with that. online casino
One never knows who is reading EP. I just we have a lot of lurkers.
I agree, I never looked into any of these financial modeling papers or anything and the one straight out of the box...I was/am horrified!
I've said many times on here they should be regulating the mathematics and software, technology itself because it's clearly increasing an influence in finance yet it looks like the wild west...whatever someone can get away with...flies as "innovation"....reminds me of that "innovation" during the dot con era of Enron going to "manage and "auction" Internet bandwidth.
and I didn't go digging around into an online database with subscriptions yet...we can get this information from other sources.
Merrill does have a global wealth report online, for public viewing, free. There it also shows how the financial crisis was not only 10 years in the making, but also fueled by increased leverage of the middle class (debt).
Read both posts linked have a depth of info, the LA Times story as well as Baseline Scenarios additions. Baseline Scenario also reviews a large report done by Zero hedge.
I think. I strongly encourage people to read the LA Times story because the author raises a very important policy question.
RebelCapitalist.com - Financial Information for the Rest of Us.
I just posted this and looked over at the title RSS feed to find this post on NC .
I just scanned it and the approach is different, describing various macro economic theory as being all wrong....
but the focus is almost identical to my post....it's all because the middle class, i.e. the consumer is getting royally screwed here and the focus should be on income.
Maybe everyone will scream in unison, it's about income people! Focus on policies to increase median income, generate high paying jobs!
With our leaders willing to deficit spend their way out of this mess, why are our they so fixated on banks and auto dealers? Oh, I forgot, poor people don't vote as much and don't make campaign contributions. But they also don't save. Perhaps the TARP funds could be reprogrammed so that assistance to the poor and disabled could be built into increasing their benefits under existing programs. Sure, you'll never see it paid back to the program, but you will see demand created -- they don't save.
Frank T.
Understanding that capital pools have chased high returns and leverage, isn't it time to remind these pension funds that they have been given a "trust" responsibility for employee pension funds? What does the Governator have to say on the subject? Will they pay their retirees with IOUs? Just when we begin to fret that some entities are "too big to fail," we get the news that our venerable state leaders are standing on the tracks, waiting for the Las Vegas express to arrive. Will Uncle Ben and Uncle Tim be called upon to devise yet another clever program to rescue these American institutions?
Frank T.
I added the Pension Pulse RSS title feed to the middle column. I try to put exceptional insight, original writing and also blogs that are maintained (unfortunately some economists abandoned their fantastic information blogs....understandable, a lot of work for no money!), new posts...in the middle column.
I also added the IMF blog, where I'm putting the government affiliated blogs in the right hand column. If you haven't checked out the Atlanta Fed blog....these guys are awesome...
Just generally speaking while I know all are blasting the Fed...on the other hand they give so many cool tools, data and exceptional commentary reports...well, I'm personally thrilled at what they have been doing in that end.
I hope all realize you can just click on the title and it will launch a new tab, (should be a tab!) to read that particular blog post.
I noted this sometime ago (and since I'm somewhat slow, I'm sure I'm probably repeating old news), that private equity firms, utilizing pension funds for the funds of funds (CFOs, etc.), went about on their raping and pillaging of companies (leveraged buyouts, loss of employment, shredding of viable companies), thus the pension funds were helping in the descaling of the American economy.
I've noted some others mentioning that this "healthcare reform" may be nothing more than a backdoor bailout of the insurance industry, and given the amount of insurance-linked securities utilized in the AIG bailout, it's beginning to make a lot of sense.
it doesn't specify if it is Residential or Commercial.
I think that's a key, I trust CR on housing and while they are projecting more price drops, there is also evidence a bottom is in, or close...whereas CRE is just getting started.
Rebel, if you want your post on the front page, hit the up arrow on the left...
people aren't using these arrows to promote to the front page enough.
BiModality of Markets: Why Mean-Variance Doesn’t Work.
Src: The Big Picture, click to enlarge
I'm not sure what his reference is to people don't understand the difference between logs and percentages, except perhaps people do not realize a logarithm does average, or act as a low pass filter, it smooths those spikes that one would normally see in a % graph. So, he's implying those 2x inverse return ETFs have drift...
and on this score, I've been wondering about DUG, SKF (Proshares ultrashorts).
Or CALPERS
Link
RebelCapitalist.com - Financial Information for the Rest of Us.
What it says is that pensions are attracted to CRE because of the deep discounts. But then you have articles like this:
"Tanking Real Estate Values Take Toll on Pension Funds"
"Real Estate Woes Threaten Oregon state pension fund"
Are pension funds too desperate?
RebelCapitalist.com - Financial Information for the Rest of Us.
great article. But,sadly, it never helped the Japanese increase money velocity. Although, without The Japanese requiring the pension system to hold 67% in JGBs, its not clear how the JGB market would have turned out.
I'm kind of surprising you aren't commenting on this audit.
This is a pretty damn large chunk of change, no one knows how much losses the U.S. taxpayer really took...
Think about it, $300 Billion dollars at risk...all to prop up one corporation, Citigroup.
Honestly I'm not so sure how taking on a new car payment helps that much....that said, it's better than nothing and it sure seems to have jacked up durable goods as well as industrial production and that's all very good because it implies U.S. jobs.
Someone bought gas futures options (not oil, natural gas) to triple in the next year (large hedge fund) so if oil jumps back to insane prices AND someone bought a super fuel efficient car with the cash for clunkers, it will help out in the long run.
WSJ has subscriptions so how much are they investing...which is incredible because CRE is being reported as the next neutron bomb or at minimum has not "hit a bottom".
You are right when you say that there most consumers are not seeing any of the effects promised by the stimulus. They had a perfect opportunity with the cash for clunkers system to make it good for those without cars but they even dropped the ball with that. online casino
$158 T down from $184 T, claiming some money set aside for bail outs "won't be used".
I'll believe it when I see it but if true, is some good news on the deficit at least.
One never knows who is reading EP. I just we have a lot of lurkers.
I agree, I never looked into any of these financial modeling papers or anything and the one straight out of the box...I was/am horrified!
I've said many times on here they should be regulating the mathematics and software, technology itself because it's clearly increasing an influence in finance yet it looks like the wild west...whatever someone can get away with...flies as "innovation"....reminds me of that "innovation" during the dot con era of Enron going to "manage and "auction" Internet bandwidth.
was I don't believe Buffett or Pimco on this. Not immediately, not as long as the economy is getting these kind of deflationary EIs.
Although yeah, long term it's scary as hell.
Surely all EP readers are above average!
Reading through the Li paper now. Interesting. It makes me even more skeptical of money managers -- didn't think that was possible.
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