Emerging Markets

Eric Janszen, Interview with Dr. Michael Hudson 6 November, 2010 Janszen (E): What I’m noting, starting with the gold crisis over the last few weeks, and the public nature of some of the complaints that we’re hearing out of Brazil and…

by Claus Vistesen I don't suspect anyone remember part 1 of this series. So if you want to refresh your memory, you can have a look here. In that note, I covered some of the more theoretical issues in the form of how demographics might…

China reported higher than expected CPI figures (4.4%) last week and many suspect that the official measure understates actual inflation.  There is much concern about the policies that China may implement to contain inflation in…

Morgan Stanley had a note out yesterday on the pass-through of commodity price inflation into consumer price inflation. Their conclusion is that the pass-through will be weak. But, at the margin this will keep the U.S. from tipping into…

Stephen Roach argues that the U.S. is not equipped to turn the Fed's liquidity into domestic demand so the liquidity provided by quantitative easing will simply leak out abroad to form asset bubbles somewhere else. He is principally…

This is a must-see video that runs 30 minutes. Take the time to watch the whole thing. It is a real coup that CNBC got Grantham on their program.  Overall, Grantham's view is the same as mine. The Fed should get out of trying to use…

by Win Thin China took more efforts aimed at “further curbing inflows” with measures designed to “maintain China’s economic and financial security.”  The measures appear to be relatively mild, but like Brazil, China may end up…

The QE1, Victoria Harbour 1972 QE's effects and afterthoughts The Fed came out with a plan that was devilishly clever in that it was not geared to the short end but also allowed the banks to continue to benefit from a steep yield…

by Win Thin EM currencies are rallying in the wake of the FOMC decision, with many back to testing or even besting the year’s highs vs. USD from mid-October.  We continue to feel that the conditions favoring EM investment will…

Andy Lees of UBS writes that quantitative easing is having the (designed) effect of diluting and transferring US debt elsewhere. It is already a success. In a morning note he tells us: Yesterday Saudi shifted its oil price target…