Paul Kedrosky’s Infectious Greed

Readings: Behavioral Tennis, Sugar, Nixon, Tapeworms, etc.

2010/08/30
By pk
Readings: Behavioral Tennis, Sugar, Nixon, Tapeworms, etc.

A helicopter drop for the US Treasury (Source) A birth surge from all that 'cocooning' in blizzards (Source) Sugar Imports by China May Jump 42% as Demand Exceeds Supply, Survey Shows (Source) Here's Something You Don't Want To Know...
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Cheating No Longer Pays in Markets: How Messed Up is That?

2010/08/30
By pk
Cheating No Longer Pays in Markets: How Messed Up is That?

What kind of world is this where rigging and then handily beating analyst earnings estimates doesn't pay off? Capital markets where cheaters don't prosper are hardly worth hanging around in, are they? Oh, wait.
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Let Them Eat Bonds

2010/08/30
By pk
Let Them Eat Bonds

Towering inflows into U.S. bond funds persist:
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Vacant Homes in U.S. = Canada Housing Stock x2

2010/08/30
By pk
Vacant Homes in U.S. = Canada Housing Stock x2

From a new Moody's report, the number of vacant houses in the U.S. is now roughly 2x the entire Canadian housing stock.
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Weekend Reading: Volcanoes, LA, China, Chance, Food, Banks, etc.

2010/08/29
By pk
Weekend Reading: Volcanoes, LA, China, Chance, Food, Banks, etc.

A few links from my weekly Weekend Reading column:Have we underestimated Chinese consumption Why LA hasn't produced more successful (tech) startups The uncomfortable mathematics of monetary policy Gold's Evangelist Latest issue of Chance Thousands fl...
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Potash & the Food Wars

2010/08/29
By pk
Potash & the Food Wars

Lots of interesting material this weekend on one of my favorite subjects, the rediscovery of scarcity and increasing costs in agriculture. To highlight a couple, the FT has a piece on the Potash contest, plus there is this Hugh Hendry appearance on BBC...
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Fun with Schwarzenegger Graphs

2010/08/27
By pk
Fun with Schwarzenegger Graphs

As much as I generally agree with a new OpEd by California Governor Arnold Schwarzenegger, I have to take issue with a key graph. In it he tries to show that California public employees have been nowhere nearly as badly as affected by the ongoing econo...
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Geography as Housing Destiny

2010/08/27
By pk
Geography as Housing Destiny

New paper out using satellite data to look at geography as a central determinant of housing supply. The Geographic Determinants of Housing Supply Albert Saiz The Wharton School, University of Pennsylvania. ...
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Mercantilism, China and Dollar Instability

2010/08/27
By pk
Mercantilism, China and Dollar Instability

Good new Boeckh Letter out on growing instability worldwide. After being rightly bullish on risk assets for the last year, the authors have become unnerved by growing signs that surplus countries (e.g., China, Germany, etc.) aren't allowing deficit cou...
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The Cloudy Ben Bernanke

2010/08/27
By pk
The Cloudy Ben Bernanke

Just because I know most of you can't bear the thought of reading Ben Bernanke's entire speech today in Jackson Hole, here is the word cloud version. It's just as opaque, but much nicer colors. Marginally more seriously, it's worth looking at the dif...
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