Reading List : 1.13.11 : Ron Paul is Cicero, Exported Inflation is Coming Home, Rigged European Debt Auctions

January 13, 2011

    • Global: Open Letter to Ron Paul : Martin Sibleau
    • Ron Paul : US as to Cicero : Rome right before it’s demise
  • China : Coming to America : Inflation - NY Times
  • It’s only a matter of time before the inflation The US exported returns home.
    • BEIJING — When garment buyers from New York show up next month at China’s annual trade shows to bargain over next autumn’s fashions, many will face sticker shock.
    • “They’re going to go home with 35 percent less product than for the same dollars as last year,” particularly for fur coats and cotton sportswear, said Bennett Model, chief executive of Cassin, a Manhattan-based line of designer clothing. “The consumer will definitely see the price rise.”
  • US : More on Cicero and US debasement – zerohedge
  • US : Jamie Dimon warns, “If you are an investor in municipals you should be very, very careful, huffingtonpost (avoid reading anything else on that site)
  • China : Vanke record profits, exceeds estimates : Caixin
  • HS : we seem to recall record bank and homebuilding profits right before the collapse
  • China : Bloomberg holds investor conference : bloomberglink
    • “We don’t care how outrageously expensive it is”, said a Chinese businessman at a recent wine sale in Hong Kong. That mantra is driving a consumer boom by China’s newly wealthy who gobbled up 500 Rolls-Royces, $120 million of rare wines and an $83 million vase last year. How will China’s super-rich change the world’s luxury markets?
    • Europe : Portugal auctions are rigged, says Bill Gross
    • Europe :Germany and France balk at increasing stabilization fund UK Telegraph
    • Europe : Continued lending is not a feasible solution – Project Syndicate
      • A danger these countries share is thus the acute danger of large-scale runs on their banking systems
      • European Financial Stability Facility fund of E750 looks adequate, but not when you take into account short term bank liabilities.
      • Makes several suggestions, increase enough to cover all liabilities, reward patient investors with debt:equity swaps, and bond floors

    Cicero Quote

    • “The budget should be balanced, the treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance.” — Cicero , 55 B.C
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