Coins in the Fountain

May 27, 2012 § Leave a comment

This is not about making a rice pudding in labor-intensive 30 minutes flat. Nor, on a similar topic, a rice pud from long grain rice..? It is coining responses to matters overheard..

1. Can’t say if spelling name correctly but the aussie economist – Debunking Economics – Keen, on Kim’s Saturday show, was a shade too keen to express unnecessary opinion/s . Nice to hear, however, his correct assertion that neocons entirely overlooked financial activity factors in their supposed economic thinking. However, Keen appears to have entirely overlooked time impact upon their perspective. Resulting in the one truly sad, bad and derailing rendition known henceforth as neocon nonsense. Such omission had them start out in ‘perfect’ position when in fact perfect was the end-point. Moral: greed grabs. aka Growth business-cycle drivers. Not necessarily “good guys with bad ideas”. More values short. I think, too, insofar as US corporations’ groupthink, that globalization pushed their commercial horizons straight through all democracy champions. ps: democracy takes time, and time-is-money mantra costed society’s vital learning curve off the round table.

BTW: mathematically rational behavior = predictive powers is not life in a “padded cell”, it is random’s end-point aforementioned all things considered. Remind me to prove this point some time.. mathematically of course.. and in language so very easily understood by australasians.

2. Do I have it correct: that Norman, the kiwi Greens’ co-leader, appears to be demanding the plan in planet National? If so, I can’t help but feel their governance intent somewhat outdated. Do governments plan private enterprise’s course anymore..? Encourage, nudge.. mebbe.. but stipulate, posit, advocate..???

3. In most respects I would wish the fellow well, but for what it is worth I disagree with Mr. Anderton’s intent to salvage the CHCh cathedral. The problem, and long term I’d have to say, is its site, not the building as such.

Po$itively:— Worldwatch’s Benedictine monks of Cannes item relating the utility of wealth from exclusive wines and restaurants very aptly fitted this morning’s (Sunday) reflection on the week. Counterpointing, as it does, the kiwi BAU in selling overpriced new properties to the Quake-ravaged market of dispossessed families and householders. If ever there was a time and location to refactor local economics per the Keen economic model then this would be it.. which is to suggest a correctly timed event for sustainable community living..

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Update.. Tumor topic

May 18, 2012 § Leave a comment

Today I heard how Sir Winfrey Bischoff – former Citigroup Chief, now lloyds I seem to recall – ascfibed himself a fan of JP Morgan Chase bank and Jamie Dimon because of its good ‘risk culture’.

Pointed out in newsmedia follow-ups – among which WSJ and CNBC – we have learned that this profile may not be all it is cracked up to be..

The JPMorgan Chase unit that lost more than $2 billion through a failed hedging strategy had looser risk controls than the rest of the bank.. The risk of losses is tallied by the bank using a so-called value at risk (VaR) calculation. However, the Chief Investment Office, the unit responsible for the high-profile loss that JPMorgan disclosed last Thursday, had a separate VaR system.. It used a less stringent calculation that gave a lower risk assessment of its trades, according to people who previously worked at the bank. The unit also reported directly to CEO Jamie Dimon, a factor which allowed it to maintain a separate risk monitoring set-up to other parts of the investment bank, these people said.

The absence of transparency is pretty important here because the unit’s autonomy allowed risky position builds without triggering alarms.

Seems little question that a lower VaR breaks from the JP Morgan party line.

A couple of things worth adding are that Ina Drew offered resign in April when the probs boiled over. Someone capped this presumably because they didn’t want market realisation of untenable (likely also unwindable) positions. And they wouldn’t want that because others’ knowledge of the Bank’s fix would invite them taking the other side of those trades.

For what it’s worth some guys opine that but 4 days on from this disaster pertinent losses are already at $3bn !!

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Humor, Tumor and Much more than Rumor

May 17, 2012 § Leave a comment

Let us begin with a grin:—

JPMorgan’s massive $2 billion trading loss has spilled over into presidential politics, with presumptive Republican nominee Mitt Romney, defending JP Morgan and calling the disastrous trade an example of the inherent risks of the free market.

What MR knows about financial markets isn’t worth knowing. How true, how true. From a quite different world, that man. Stay with it, MR, the other world that is. For one thing, actually the main thing, you will be better off among the saints.


Despite political arrays against the power of media upon/among the voting publics, media remains powerful. So powerful that banking and financial markets’ traders need invent a cover story for them to purvey. So as to prevent taxpayers’ general finding out the extent of private profiteering from their publicly beneficial institutional guarantees. To describe this cover story as a tumor does not overstate things. More particularly I might specify in ascribing the tumor as benign. Presently.

Yet so doing because only a fool would leave a body tumor at that. Show no further interest. Monitor. Call the doctor at any sign of change. And.. well you get my drift.

Foolish indeed then, the kiwi this morning – ZB’s Mike-of-the-south – whose lede commentary had the faucet sounds and gurgle of a North Canterbury township’s water supply being turned on again after system shutdown. Not to defend JP Morgan Chase (Chase is the retail part) Bank in the USA saith he plaintively, but banks .. blah blah. I kid ye not, as this wrap of his makes clear: “…when bankers DO more bankers lend. And lending—”

I was inclined at this point to insert a DOH! But instead, and magnanimously in evident circumstances of distance from the action, Net and/Web resourcing reliant to any extent on the gamed US media take with its lambs to the slaughter victimology, intend BETTER. BETTER KNOWING than not. BETTER for those that should know. And can do something about. Not least for themselves. And more australasians..

ALL on video .. (May 15) – Tuft University’s Amar Bhide talks about JPMorgan’s $2 billion loss and Jamie Dimon’s leadership on Bloomberg Television’s Inside Track.

Get, please do:—

1. The significance of over-leverage and/or leverage-on-leverage.

2. The correct nature of fund sources, and what or how an incorrect understanding – private asset valuations($3Tn per JPMC) have neither status nor regarded risk merit to set against such loss behaviors) – can lead to. Very rapidly, believe you me!

3. Recognise where the US picture touches kiwi frames. For instance: given the ‘hotmoney’ solicitations of Dimon’s devilry can we dismiss the prospect of kiwibuck selloff/s as kiwi govt bank guarantees lapse.?


Much more than Rumor has it PO$ITIVELY that Big Names agree on charging into the future.


Finally a question.. to whom does one listen up this weekend.. por favor

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May 6, 2012 § Leave a comment

couldbe commercial fyi

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Nice Picks..

May 6, 2012 § Leave a comment

To hand advice on FRED – go see – please do.

My reason for suggesting this is back-up – US style – for a couple of weekend items on radionz.

Saturday, I was again reminded of Charles Dickens’s high daily walk rate. In his day it was the way around London’s streets and so on..

Sunday came John Greaves’s Worldwatch item from Raleigh in Carolina where walk activists had erected pedestrian signs of how far it was from there to let’s say a local location or place. Clear replanning needs arise should such a resumption of walking occur.. ie verandahed sidewalks, wider pavements, street storefronts etc..

Small matters, I thought. Significant perhaps in themselves, but small.. mebbe too little.. and late..

Then FRED which rather does suggest not so small. MORE SIGNIFICANT. Inspiring (not so much aspiring) americans to future shout: if we can do it, you can do it.

Nice change. From and including too nice journo topic picks. Well done!

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May 5, 2012 § Leave a comment

Oops.. sorry I forgot to add how

YOU. do. need. this

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Problem/benefit ratios

May 5, 2012 § Leave a comment

Someone – blessum – this morning determined I am a chapter 7 case hound. Which you may take to mean chapter 7 of the following title sought my specific response. This amounts to a problem/benefit ratio of 1.000.

Truly, subjectively, however, I would say that no one in their right mind would want my experience/s with statins.

hattip brodyhooked@blogspot I’d recommend..

Dr. Barbara H. Roberts, a cardiologist who heads the Women’s Cardiac Center at Miriam Hospital in Providence, RI. I therefore learned about her new book, The Truth About Statins: Risks and Alternatives to Cholesterol-Lowering Drugs (New York: Pocket Books, 2012).

worth anybody’s time. Seems a bright lady.

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