January 7, 2010
Links for January 6th through January 7th
These are my links for January 6th through January 7th:
- Geithner’s New York Fed Told AIG to Limit Swaps Disclosure – Bloomberg.com – “It appears that the New York Fed deliberately pressured AIG to restrict and delay the disclosure of important information,” said Issa, a California Republican. Taxpayers “deserve full and complete disclosure under our nation’s securities laws, not the withholding of politically inconvenient information.” President Barack Obama selected Geithner as Treasury secretary, a post he took last year. – GOES TO SHOW YOU, THEY'RE ALL SNEAKY
- Geithner’s New York Fed Told AIG to Limit Swaps Disclosure – Bloomberg.com – “It appears that the New York Fed deliberately pressured AIG to restrict and delay the disclosure of important information,” said Issa, a California Republican. Taxpayers “deserve full and complete disclosure under our nation’s securities laws, not the withholding of politically inconvenient information.” President Barack Obama selected Geithner as Treasury secretary, a post he took last year. – GOES TO SHOW YOU, THEY'RE ALL SNEAKY
- Deflation in Japan: To lose one decade may be misfortune… | The Economist – What effect has this steady erosion of value had on the psychology of Japanese people? The bust did not lay waste to Japan, after all, as the Depression did to America in the 1930s. Homelessness and suicide have risen, and life has got much harder for young people seeking good jobs. But Japan still has ¥1,500 trillion ($16.3 trillion) of savings, its exporters are world-class, and many of its citizens dress, shop and eat lavishly. As a senior civil servant puts it: “Japanese people have never really felt that they are in crisis, even though the economy is slowly withering away.” – WELL WE JUST HAD A LOST DECADE OF OUR OWN.
- Off the Charts – For Stocks in the Developed World, It Was a Decade of Zeros – NYTimes.com – The United States stock market lagged even that modest return. According to the MSCI indexes, which measure virtually all stock markets using consistent criteria, an investor in the American market who reinvested all dividends — and who somehow avoided all taxes and transaction costs for the decade — would have ended 2009 with 12 percent fewer dollars than when the decade began. That is an annual return of negative 1.3 percent. – NOT IF YOU'VE BEEN TREND FOLLOWING.
- Gold Outshines All Other Assets For Past Decade – Knowing about the 18 year cycle between commodities and equities, this isn’t surprising. In fact, thanks to this long term historical pattern, we can look forward to almost another decade of the same type of outperformance. – I WONDER FOR HOW LONG REALLY?
