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Back to the Future - Commodities Rule Again
did you notice that china is making noises about building 3 railroads and rebuilding a few earthquake torn provinces eg steel may be back?
Joy Global at the Heart of the Commodity Machine
the mining and metals industries were caught short when the 'boom' got momentum 'in the day' before the olympics. companies like arcelor-mittal, vale and posco reacted with a buying frenzy for ships, port developments, mines and buying and merging with other companies. in fact, they were still investing heavily while wall street bemoaned economic stagnation and slow downs. now, cut short in the current precipitous and rapid slow downs we see 40% and 50% cuts; closings, layoffs, cancelled or delayed capital investments not to mention defaulted shipping contracts. will they be 'blind-sided' when the still unbuilt infrastructures in asia and the bric countries get back on track? but would they need new equipment from joy and bucyrus? was that investment covered during the 'frenzy'.
The Burst Commodities Bubble
Time Not for a Bailout, But for Nationalization
out of this whole mess there is one thing true and proven. the experts having already failed in international proportions [again] are clueless.
Time Not for a Bailout, But for Nationalization
there are more than 3 fixes. use the mythical 700 billion to rebuild the infrastructure issuing private sector rfp.s with gov't loan insurance [use aig since we already own it] and/or cheap loans, subsidies, funds matching programs, any way to get the capital out there; capital infusion into the population, job and industrial expansion, as needed. once growth begins it would grow geometrically. who know maybe people will have the $$ to pay mortgages and even buy some of those inventoried houses. there's a thought.
2. an economic system must work in good times and in bad times and especially in bad times. remember free market capitalism? ...duh...
let the failures fail. invest the $$ where it will grow [hey capitalism! who'd a thunk it?!] and benefit the real economy much and the virtual derivative non-productive dead in the water economy little or not at all.
How to Spend $700B and Actually Solve the Problem
one thing we do know for certain. neither the gov't nor the conventional wisdom of wall st. can save us. they cannot even save themselves. maybe we'd better go another way. subsidizing them is like rearranging the deck chairs on the titanic.
it is rare that the gov't. is so willing and even eager to spend huge amounts of money. perhaps that money, our money, would be better spent as capital investment in america. fyi: america includes wall st. wall st. fails to include america.
stop throwing our money down the rabbit hole. let free market capitalism work. put that capital to work building industry and jobs, reviving the bank industry and increasing the resultant tax base.
How to Spend $700B and Actually Solve the Problem
one thing we do know for certain. neither the gov't nor the conventional wisdom of wall st. can save us. they cannot even save themselves. maybe we'd better go another way. subsidizing them is like rearranging the deck chairs on the titanic.
it is rare that the gov't. is so willing and even eager to spend huge amounts of money. perhaps that money, our money, would be better spent as capital investment in america. fyi: america includes wall st. wall st. fails to include america.
stop throwing our money down the rabbit hole. let free market capitalism work. put that capital to work building industry and jobs, reviving the bank industry and increasing the resultant tax base.
. , etc. not cash being dumped into the rabbit hole of wall st. finance and its fellow-travelers.
all this serves to steamroll the paul and bernie plan which may not work and which may cost well over 700,000,000.00.
if the gov't is of a mind to spend let's put money to work for the people not for wall st.'s failures. make room for better finance houses etc.
rather than some form of gov't guarantees on toxic paper have gov't guaranteed loans; capital. revive in who have driven themselves to bankruptcy ; put people to work, build and repair infrastructure, reactivate industry, the service industries will grow, the tax base will grow, let the capitalist free market do its darwinian winnowingthe greed and incompetence of wall st. would be replaced in darwinian fashionand give a a leg up on acttually send rfps out for necessary work on infrastructure. what results is an economic stimulus in private sector: industry, finance and services. i'm too tired to
Four Firms That Could Save Lehman
maybe the posturing and negotiating ploys will end at the 11th hour.... if they are posturing that is. i really don't want bankruptcy to turn my stock to zero value.
Down With Rating Agencies! Plus, Lehman for Laymen
Down With Rating Agencies! Plus, Lehman for Laymen
leh is about 79% institutionally owned. think those guys will be pissed if they lose 100%??
U.S. Treasury to Make Open Market MBS Purchases
Could Lehman's Failure Cause a Systemic Meltdown?
concur or not, sometimes the safety of the lehmans of the world is a priority if for no other reason than keeping it afloat keeps us all floating; the so-called big picture. it may serve and even amuse the merrills of the world to see one of its competitors die but it may not serve the efficient and profitable running of the economy. lest the other
finance-titans lose touch, basking in the cozy warmth of their schadenfreude, someone may rudely remind them that they may be next.
Vale Pushes China for Higher Steel Prices
Vale Pushes China for Higher Steel Prices
china has been sending a lot of cues out to miners, building a negotiation posture, like a 'woe is me' scenario. someone there has made it known that they may remove baosteel from its position as the ore contract negotiator. they didn't like their work this season. its price fixing but it seems that this is s.o.p. with miners in asia. in fact too is unhappy with their deals and claims they will negotiate separately next year and play the contracts against the spot market which is pretty typical. there're a few other things that make me see a lot of news as posturing.
actually bhp wants more per tonne and think they got stiffed this year on ore contracts having to go along with deals cut by rio tinto. the nearly double price is insufficient. and so what i see is a heavy dose of saber rattling mixed in.
by the way, all this has driven industry components into building in verticality so they just have to depend on themselves for materials. i think THAT is the real story.
here's a question. with talk of inflation, slow downs, deflation, high oil,
low nat gas etc etc rampant, why are huge companies like rio and mt buying companies like popcorn?? i guess they're pretty stupid and somehow stumbled upon ways to grow; the 'even a blind squirrel finds a nut now and then' theory. maybe they didn't read the news lately? yeah real dumb they are...
Coal Generates Global Strength