Thursday, December 3, 2009

North Korea revalues currency

North Korea revalues currency, destroying personal savings

Washington Post article

"I worked like a dog for two months for the winter, but the money became useless paper overnight," a resident of Sinuiju

"According to two Web-based groups with sources in the North, that limit was set Monday at 100,000 won, which at current black-market rates amounts to $40. All North Korean currency that individuals possess in excess of that amount becomes worthless under the revaluation."

This was a measure to control the free market and privatization... Hard work, saving are wiped out over night. As the dollar is devaluating, we might not see the effect over night but over years. American's saving are also worth-less. Be conscious of the government monetary polices and find diverse ways to secure your hard earned saving.

Monday, August 10, 2009

Việt Pop Radio

I just started an internet radio called Việt Pop Radio. We plays Vietnamese music for both oversea Vietnamese and international audience. Please visit and join as a google friend connect fan.

Our site provides background information about popular Vietnamese music, and Vietnamese singers.

Monday, July 27, 2009

Wild crows can recognize individual people. They can pick a person out of a crowd, follow them, and remember them — apparently for years. But people — even people who love crows — usually can't tell them apart

[Interactive:Video: The Crow Paradox]

Full story

Tuesday, May 12, 2009

The trillion dollars questions

Kudos for Naked Capitalism for posting this video

Federal Reserve Inspector General Unable to Answer Basic Questions on Where the Trillions Went

This is extremely bothersome to every taxpayer!

Tuesday, April 21, 2009

It is 2009.3

April 19-23 marks 2009.3, according to Martin Armstrong this is the peak of confidence in the market. Let's see, here i leave you with two cartoons for your entertainment.

Friday, March 27, 2009

Don't believe in those liars. There shall be blood on the street

An little excerpt from Naked Capitalism

We're not quite as healthy as we thought we were. Oops. (WSJ)
J.P. Morgan Chase Chief Executive James Dimon said...that March was a little tougher than the first two months of the year....Bank of America...CEO Kenneth Lewis also said that March had been a tougher month for his bank. [Convenient that they decided to dump this information on Friday afternoon, and at the close of a very good week].
Readers may recall that a few weeks ago, those two CEOs---along with Citi's Vikram Pandit---said the first two months of the year had been very good:
Pandit, March 10th: “We are profitable through the first two months of 2009 and are having our best quarter-to-date performance since the third quarter of 2007.”

Dimon, March 11th: "Jamie Dimon, the chief executive of JPMorgan Chase, said Wednesday that the bank was profitable in January and February..."

Lewis, March 12th: "We have been profitable for the first two months of the year,” Lewis told reporters after a speech in Boston today.
This was possibly the most nakedly self-serving bullshit the big bank CEOs have offered to date. ("bullshit" being a technical term of course, see Harry Frankfurt)

Friday, March 20, 2009

Karl Marx and AIG

This corrupted rotten US capitalist financial system is making me sick.

A.I.G. is effectively suing its majority owner, the government, which has an 80 percent stake and has poured nearly $200 billion into the insurer in a bid to avert its collapse and avoid troubling the global financial markets. The company is in effect asking for even more money, in the form of tax refunds. The suit also suggests that A.I.G. is spending taxpayer money to pursue its case, something it is legally entitled to do.

While the American International Group comes under fire from Congress over executive bonuses, it is quietly fighting the federal government for the return of $306 million in tax payments.

Here is an interesting quote for J. F. Kennedy

"You may remember that in 1851 the New York Herald Tribune under the sponsorship and publishing of Horace Greeley, employed as its London correspondent an obscure journalist by the name of Karl Marx.

We are told that foreign correspondent Marx, stone broke, and with a family ill and undernourished, constantly appealed to Greeley and managing editor Charles Dana for an increase in his munificent salary of $5 per installment, a salary which he and Engels ungratefully labeled as the "lousiest petty bourgeois cheating."

But when all his financial appeals were refused, Marx looked around for other means of livelihood and fame, eventually terminating his relationship with the Tribune and devoting his talents full time to the cause that would bequeath the world the seeds of Leninism, Stalinism, revolution and the cold war.

If only this capitalistic New York newspaper had treated him more kindly; if only Marx had remained a foreign correspondent, history might have been different. And I hope all publishers will bear this lesson in mind the next time they receive a poverty-stricken appeal for a small increase in the expense account from an obscure newspaper man." - John F. Kennedy, 35th President.

Wednesday, February 25, 2009

Who's buying what?

Then -- The producers aren't spending
The consumers aren't saving.

Now -- The spenders are unemployed.
The savers are ripped off.

Thursday, February 12, 2009

China: the upcoming upheaval

China is facing an impeding problem that never any nation had faced before. It will be in a massive scale unheard of and uncontrollable. The Chinese Ministry of Labor has warned multiple times regarding this wave incoming tsunami.

The economic meltdown in China will unfold precisely opposite than the Western half counter part. "The threat comes not from the commanding heights of the economy, but from the grassroots. All along the coast, thousands of small factories that rely entirely on US and European export markets are cutting back production or shutting down. Their margins were thin to begin with, and now their orders are being slashed. The first to be affected aren't the global professionals that populate China's big cities, but the migrant workers that made those factories hum."

"Last week, Chinese officials admitted that at least 20 million migrant workers - one out of every six - who journeyed back to their hometowns this lunar new year won't have a job to return to. Compare that to roughly three-and-half million American job losses so far. For the moment, China's army of unemployed seems disheartened rather than angry. Many of them took extended holidays among family back home and only now, out of desperation, are resuming their job hunts in earnest. No one knows how long their patience will last, or how much larger their ranks will grow in coming months."

You can imagine what could 20 million unemployed, hopeless workers do. Especially with a large portion of them are single MALE who have no hope of establishing a family. With a high ratio of male to female due to the infamous "One child policy". Out to the street they would go, form gangs, riot and much more!

Wednesday, February 11, 2009

The great consolidation

The following chart is copied from Jesse's Cafe with a little modification footnoted below.

The current consolidation period might not break new high but will ends around April

As you can see! Right around mid April ~~~ April 16th. The triangle will complete. Expecting a continuation pattern of down trend.