OT: Mobius Says China’s Bull Market Is Just Getting Started

I'm buying stock in Chinese chicken stock. Mmm mmm, chopstick licking good.

Chickity China the Chinese Chicken...

Everytime Chinaman build chinky wall, stupid Mongorian knock it down!

Lol!

I tried calling a broker service in China, but they told me I had the Wong number

Crash of 2016 youtube.com

SJG

Elizabeth Warren and Paul Krugman youtube.com

SJG

Dont encourage that retard Dougster retard San Jose guy. Your smart like me but my job is telling Dougster that he is a dickless retard. He prolly had a small dick before he caught a disease from a bad girl and had his dick totally fall off

Thanks, SJG. Normally I don't care much for politics, but everything I've heard from Warren so far makes me think she is a very intelligent woman who believes in what she says.

I'm actually going to set aside the 1:20 to watch that video, just because I want to learn more and see if she could be the next president.

These boom and bust cycles all work the same way. At the end, more people are forced out of good jobs and into junk jobs. They started with a living wage, some stability, maybe union representation, and some stability. After the boom and bust they were forced into non-living wage work, with no stability or benefits, and often into part time work, even multiple part time jobs.

This cannot be the way our country should be going. Our Democracy depends on working people being able to support themselves.

It is hard to stop busts, but we can decline to boost for the booms.

SJG

Stones, 1998 youtube.com

I don't know, SJG. Entreprenurs take enormous risks. And 90% of them don't make it. I think there has to be the possibility of the big pot of gold, else the math would add up. So you need the booms.

I also wonder what kind of a start I would have got just as a worker bee if I hadn't walked into a couple of booms.

Most innovation happens during busts, not booms. During booms, when the investor money is running strong, people don't think clearly. This is why so little of enduring value was accomplished during the dotcom boom. It all had to happen several generations of start ups later.

Yes, lots of people do benefit from booms, but far more get nothing, and many end up worse off than before. I am glad that some of them helped you along. But the simple fact is that far more people are working in absolutely intolerable employment situations than there have ever been since the Gilded Age. Our democracy does not work when it is just rich versus a poor who can barely survive. Working people need to be able to support themselves, or democracy collapses. These booms, really Ponzi schemes, do not help this.

SJG

SJG: "Most innovation happens during busts, not booms."

Well that's a good argument of why we need busts as well. But those entrepreneurs and those funding them are look like ahead to the boom for the pay off. So we need booms as well.

Also even if a steady climb was more desirable than boom/bust cycles what practical way is there to get to that?

These booms, all they really are are booms in investor confidence, nothing more. Once the investors see that there could be some new gimmick out there, something new which they could use to control the market place with, then they all jump in.

Things get funded which should not. Money is even drawn away from things which are very worthwhile.

Then once they see that the king had no clothes, then all the money dries up and people who are doing good things get hurt a second time.

As the bust continues, good things start to happen again.

But what we need is less speculators, less people trying to get a claim on the future productivity of our nation by using gimmicks. Both the booms and the busts are themselves gimmicks.

This is about Kliener Perkins, a very unflattering portrayal, but one I can fully endorse by personal experience with them.

amazon.com

Most of the money which these guys represent is Gilded Age money too.

Doug Henwood, online book, How Wall Street Works and for Whom ebookscentral.com

SJG

The Cure youtube.com 2013