Tom Spencer

MAY 9, 2020

By taking America off the gold standard, the US dollar became a fiat currency, deriving its value not from a claim on gold but from the stability and creditworthiness of the US government, the tax collecting power of the Internal Revenue Service, and the restraint of the Federal Reserve in limiting the supply of dollars. (It

System 88

System Banking Government Insurance 88

MishTalk

AUGUST 22, 2013

And long-term rates are what matter for capital investment, which is key to increasing the economy’s growth potential and raising productivity.". From 1997-2000 the Fed ignored a major bubble in the stock market. Inflation Benefit 2: The federal government debt goes away. Balance sheet recession" might go away!?

Balance Sheet 73

Balance Sheet Real Estate Banking Government 73

MishTalk

JANUARY 28, 2014

On January 15, Reuters reported China''s ICBC says won''t compensate investors in troubled shadow bank product. Industrial and Commercial Bank of China, the world''s largest bank by assets, said on Thursday that it has no plans to use its own money to repay investors in a troubled off-balance-sheet investment product that it helped to market."

Banking 72

Banking Balance Sheet Productivity Financial 72

MishTalk

JULY 11, 2014

The BIS slam, coupled with a recent stock market selloff, brought up debate on a " controlled collapse ". Government debt-to-GDP ratios have risen further; in several cases, they appear to be on an unsustainable path. Increased risk-taking also manifested itself in other credit market segments.

Balance Sheet 74

Balance Sheet Financial Banking Policies 74

MishTalk

DECEMBER 26, 2014

In either case they reduce consumption demand relative to production. They also tend to be associated with rising stock and real estate markets, which, by making households feel wealthier, encourages higher consumption. Normally, lower interest rates are likely to increase consumption in two ways. The reason has to do with debt.

Banking 71

Banking System Benchmarking Finance 71

MishTalk

JULY 16, 2014

Readers of our letters are familiar with our long-standing assessment that the cause of slower growth is the overly indebted economy with too much non-productive debt. Rather than repairing its balance sheet by reducing debt, the U.S. treasury market. Yesterday, in Corporate and Government Bonds: Where to From Here?

Balance Sheet 68

Balance Sheet Financial Analysis Policies 68

Tom Spencer

NOVEMBER 9, 2019

Historically, commercial banking and investment banking functions have been separated by law – these restrictions have since been repealed and larger banks tend to take on capital markets operations due to the complimentary nature of the businesses. In secondary markets, the sales & trading function operates as a market maker.

Banking 12

Banking Industry Balance Sheet Retail 12

Harvard Business

OCTOBER 20, 2016

Imports among the world’s 20 largest economies have fallen as a share of their gross domestic product for four consecutive years. Meanwhile the Institute of International Finance forecasted net capital flows for emerging markets in 2015 would be negative for the first time since 1988. at the forefront.

Balance Sheet 28

Balance Sheet Policies Operations Banking 28

MishTalk

SEPTEMBER 26, 2013

I don''t and neither does Michael Pettis at China Financial Markets. The Financial Times reports China house price surge raises prospect of steps to cool market. Deposit rates are still low and the stock market has been uncooperative. Bulls think China is on the mend. Bullish Arguments. Property Prices Rising.

Real Estate 64

Real Estate Banking Government Balance Sheet 64

Harvard Business

MAY 28, 2018

He asked one former major investor for a reaction to the company’s prediction (accompanying poor quarterly results): “that the [current] market contraction will bottom out soon and our profits will improve.” ” The company took note and duly committed to reducing costs at a rate exceeding market contraction.

Company 30

Company Balance Sheet Cash Flow Interviews 30

MishTalk

JUNE 27, 2013

Minyanville Business and Market News. Balanced Budget Ammendment Sign the Balanced Budget Petition. What Has Government Done to Our Money? China Financial Markets. Market Oracle. Market Ticker. Real Clear Markets. Sitka Pacific. Recent Posts. Featured Links. Home Builders. Recommended Books.

Analysis 70

Analysis Trends Real Estate Banking 70

MishTalk

APRIL 6, 2015

The simple definition V = GDP/M where V is velocity, M is money supply, and GDP is Gross Domestic Product. The second problem with velocity is that GDP is a pretty nebulous concept given that government spending (no matter how useless) adds to GDP. They knew they could always dump them on the Fed in the open market with a hefty markup.

Banking 28

Banking Balance Sheet Case Interview Policies 28

Harvard Business

JULY 14, 2017

They grow faster, make more money, and are more valued than companies organized around products and services. A production process turns inputs into outputs and distributes them through a tightly controlled supply chain. Value is in the products and services themselves. We normally think of people as something to be managed.

Intellectual Property 28

Intellectual Property Strategy Strategy Strategy& 28

MishTalk

JULY 10, 2015

Employment Slack It is my judgment that the lower level of the unemployment rate today probably does not fully capture the extent of slack remaining in the labor market--in other words, how far away we are from a full-employment economy. Also, statistical noise or measurement issues may have played some role. exports.

Policies 28

Policies Balance Sheet Productivity Energy 28

Harvard Business

OCTOBER 30, 2017

GE made a $4 billion bet on connecting industrial equipment through the internet of things and analytical software with a suite of products called Predix Cloud. During Immelt’s tenure, GE’s stock market value fell by about half. Andreessen’s article helped accelerate the company’s digital transformation.

Balance Sheet 28

Balance Sheet Financial Journal Company 28

Tom Spencer

JULY 25, 2021

The justification for the status quo is usually that “all models are wrong, but some are useful” While simplistic assumptions do make for easier math, and can help to predict market outcomes in stylised scenarios, the real world is both complex and dynamic. Factors of production. Willingness to pay. Equilibrium.

Productivity 97

Productivity Balance Sheet Marketing Government 97

Harvard Business

JANUARY 24, 2017

For us, growth events mean simply concrete, directly observable achievements that foreshadow future success: for example, new customer contracts, initial export sales, new bank or equity financings, expanded production capacity, or expanded people platforms (e.g. strategic hires). day, scale-focused workshops and related activities.

Training 28

Training Training Banking Balance Sheet 28

MishTalk

MARCH 17, 2014

Michael Pettis at China Financial Markets taught me much of what I know about global trade. But by taking purchasing power out of the hands of mass consumers, the savers denied to themselves the kind of effective demand for their products that would justify a reinvestment of their capital accumulations in new plants.

Banking 67

Banking Real Estate Productivity Policies 67

Tom Spencer

AUGUST 12, 2020

However, national governments and central banks have different ideas. Governments guarantee bank deposits in order to prevent bank runs. Central banks pursue “inflation at any cost” in order to oil the wheels of the credit markets. This inadvertently removes each bank’s incentive to act prudently.

Banking 120

Banking Balance Sheet Financial Real Estate 120

MishTalk

JANUARY 3, 2014

Had I suggested in 2007 that the Fed balance sheet expansion of $75 billion a month would have been considered "tightening" people would have thought I was nuts. A similar crash in public opinion awaits Bernanke for fueling one of the biggest, if not the biggest stock and bond market bubbles in history. Here we are.

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Conference Banking Government Balance Sheet 74