jollyroger's picture

    Dollar Daze-Bill Gross (PIMCO) to Wolfie, Miguelito:"Gotta spare room, homies?"

    By jollyroger on Sat, 07/23/2011 - 1:19am |

    Signaling the accelerating skid of the evil empire (that would be us...), the big kahuna of bond managers is getting out of dollars and into four different currencies.

    It will not surprise that hard upon the heels of  Incurious George's Excellent Mideast Adventure, the suicidal lemming rush of the  Teabaggers and their Repugnant allies is making what was once a reserve currency par excellence something of a faded glory.

    What does give pause, however, is that Gross  points to four nations whose good governance, thrift and sensible industrial and social polity promise a better store of value for the international investor.

    Two are no surprise: China (Mao is having his revenge...) and Canada (how can you go wrong when you house the Mighty Quinn and Acanuck?)

    That said, the other members of the favored quartet are Brazil and Mexico, notwithstanding the drug war insanity that roils the latter, and the carioca sensibility that makes the former so attractive to this stripper trying to get back in the game (Ed note: Sure, Rog.  You're gonna compete throwing it around in the land of samba-lotsa luck...)

    It comes, then, to this.  Short dollars, go long Reals and Pesos, if you want to prosper like PIMCO.

    Are we humbled yet?

    Comments

    I was talking to a missionary couple on the light rail. They were in town for a religious conference, but live in Thailand. He was raving about the cheap cost of living there, and that they have all the trappings of America (KFC, McDs, etc) you could want. My coworker vacationed there recently and said Thailand is practically infested with 7-Elevens. His stories of eating dog at parties was less attractive. He said dog tastes pretty much like dogs smell, but you get used to it.


    by Donal on Sat, 07/23/2011 - 6:35am

    Plus. THEY have a real democracy...

    by jollyroger on Sat, 07/23/2011 - 11:47am

    While they were building their countries up, we USA citizens was dreaming about "Morning in America" and not paying attention to who we were voting for.  In the mean time Koch brothers with the help of ALEC and Grover Norquist hired enough of our representatives to represent the very rich that we voted for to do only their bidding.  For the life of me I can't figure out how the rich thinks crashing the economy is smart.


    by trkingmomoe on Sat, 07/23/2011 - 12:26pm

    *Naomi Klein proposes that the deliberate precipitation of crises is part of a strategy for the ongoing hypnosis by dint of which the proletariat is rendered lumpen.  No less a sober thinker than Paul Krugman has referenced the hollowing of our public education system as a purposeful undertaking the goal of which is the production of stupid voters.

    It appears to be working.

    *Parenthetically, what a fox!


    by jollyroger on Sat, 07/23/2011 - 9:11pm

    Well, I guess the good news is that I am only 90 miles from the border of one of the Big Four!

    I still cannot imagine the repubs just turning their backs on Wall Street.

    That aint gonna happen.


    by Richard Day on Sat, 07/23/2011 - 1:02pm

    Maybe not the Repugnants per se, but the teabaggers are capable of a berserker frolic with a potentially dramatic outcome


    by jollyroger on Sat, 07/23/2011 - 9:20pm

    Always fun to read you Jolly.

    I am coming to NY on Labor Day.

    Would like to meet you.

    Good to see ya writin!


    by Richard Day on Sat, 07/23/2011 - 9:52pm

    I have washed up on the shores of Brooklyn for a minute, and barring a last minute trip to Burning Man, will indeed be around on Labor Day.  Let's meet up.  (If the weather don't change, you will regret leaving the chilly climes of gopherdom--although I am at present within a stone's throw of the home of my yout' (Fort Greene) I had forgotten why I once  made a mighty oath never to be found in NYC between May and October).


    by jollyroger on Sat, 07/23/2011 - 10:21pm

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