Someone is running around on the internet trying to out Spengler. They claim he is this guy. If this is the right guy his current job is “Chief Asia Economist and Strategist”according to this site.
Could be true, but it would be ironic if it was. I always considered economics to be one of Spengler’s weakest points.
For those that are interested in Building Codes you can click on this link. I know that you are out there.
In other words, one of Korea’s last ditch measures to defend its currency would be to sell its remaining Freddie and Fannie debt, but the lack of liquidity argues against that.
Just like many other Asian countries, Korea built up big dollar reserves. But now that they need their dollar denominated assets, they can’t use them for fear of having to sell them at fire sale prices. I think a lot of other countries who are building up huge dollar reserves on the premise that it will safe guard them from future problems are going to find themselves in the same boat.
When other countries start sending us their Jobs. From Market Watch….
Deere & Co will close its plant in Welland, Ontario and move production to its facilities in Wisconsin and Mexico as part of its effort to improve profitability, Deere said Tuesday.
If you want to know why it is all Vanderleun’s fault click here.
All Along The Watchtower by Bob Dylan is this week’s poem of the week.
The fairness of this rant might be doubted. But it is worth noting that males do tend to mature at latter age then females. That does have some consequences worth exploring.
The Last Samurai and Europe’s First Suicide does what all good historical essays should do. It draws connections between different historical events that you would not have thought connected otherwise. But the essay would have been better off if the author had been content to make the comparison and contrast between General Maresuke Nogi and the European generals of World War I. Unfortunately, the author felt compelled to go off on rant at the end of the essay that does not fit with the rest of what he wrote.
At least 30 people were killed or reported missing and about 180,000 homes destroyed in a powerful earthquake in southwest China, state media said Sunday.
More than 360 people were injured in Saturday’s 6.1-magnitude earthquake, which rocked Sichuan and Yunnan provinces, the official Xinhua news agency reported, citing the civil affairs ministry.
Granted this is not as big as last time. And 180,000 homes destroyed is not much in a country with over a billion people in it. But a couple of more earthquakes and and China’s construction industry is going to have a hard time keeping up with the rebuilding and the demands of China’s growing economy.