Korean Job Discussion Forums

[cubanlord]

http://www.wooribank.com/

I remitted, today, at 1222.34. It's going down ladies! Unlike what asmith has been preaching!!!!!

[Rusty Shackleford]

I'm not sure if I have read asmith comment on the KRW/USD exchange rate. But I would guess he would pick a massive devaluation in the USD some time soon. That would mean you would be getting your USDs for 800won but unfortunately that USD wouldn't actually buy you anything.

[Ilsanman]

I am hoping that if the greenback plunges, it drags down the CDN dollar with it.

[Epicurus]

[Epicurus]

[Hyeon Een]

[cubanlord]

[Deep Thirteen]

I have trouble believing anyone who is a self-described prophet, thread-jacks on an ESL forum, and writes a blog full of mundane events laced with expletives.

If he is right, it will just be an ego boost for him much like the accolades he gets from his blog, so I don't care. I do get a laugh out of the sheer predictability of his economic posts though.

[halfmanhalfbiscuit]

I'm stocking up on soju, ramyun and barterable goods.

[Epicurus]

what people that don't have a clue don't understand about why the dollar strengthened so dramatically and drastically vs everything else when the ddong hit the fan is the following:

it was a full flight panic.
A flight to safety and a flight to liquidity.
And a liquidation of all other trades and bets, which typically involved being invested in non dollar assets.

all because everyone and their grandmother wanted to pile into Treasury Bills. (still the safest "paper"/instrument on earth)


as the markets bottomed out and some semblance of rational thinking returned... people resumed their look at the fundamentals and those had gotten even worse in the interim as the interest rate in the US is zero or lower (thru quantitative easing) and their debt/aka printing paper money has exploded.

Which means you buy gold and sell the USD.

and that's precisely what has happened.. and almost as dramatically in the opposite direction since March.

[Moldy Rutabaga]

I think we are taking the blog too seriously. Asmith doesn't claim to be an economist. He has fun making these rants. I like the blog a lot.

I think he half-means what he says, though, that the American economy is in decline. This is a longer term event than just little ups and downs in the dollar value. I don't agree that this decline is necessarily permanent, though; hopefully it is a decades-long transition into a slightly different type of economy. The British had to get used to not being the center of the universe a century ago, and North America will too. Maybe there will no longer be a center in a globalized economy.

Ken:>

[Rusty Shackleford]

I'm not sure if asmith reads this dude....
http://market-ticker.denninger.net/archives/1439-WARNING-Deflationary-Collapse-Dead-Ahead.html

But he sounds a lot like him. If you want a good (but often hyper-technical), run down of what has happened and what is likely to happen, you could do a lot worse than this guy.

[kg2095]

I like asmith and his blog but I think he is completely wrong about the economy.

I remember during the stagflation of the 70s that people were saying that it was then end of the American century and there was talk about replacing the US dollar as the world currency.

Then prosperity returned in the 80s followed by another recession: once again its the beginning of the end etc. This was of course followed by the longest period of prosperity in US history.

History does repeat.

[Moldy Rutabaga]

http://www.nytimes.com/2009/09/16/opinion/16friedman.html?partner=rssnyt&emc=rss
Interesting article.

Ken:>

[Epicurus]