US Is Imitating Japan

Several articles about international banking shows clearly how the new carry trade has the US displacing Japan as the new carry trade object.  So US ranking in banking is falling while Australia, reprising exactly every mistake made by Iceland, is becoming a global banking power because they are being flooded with carry trade money from the US (and Japan!).  ΩΩΩΩΩΩΩΩΩΩΩΩΩΩΩΩΩΩ

Chamber Of Commerce Gets What It Wants On Tax Dodger Ban From Senate Committee

The U.S. Chamber of Commerce lobbied for the Senate Appropriations Committee to weaken a ban on government contracts with “inverted corporations,” reports The Hill on Wednesday. Inverted corporations are domestic companies that set up nominal overseas headquarters to dodge U.S. taxes.

. On Tuesday, the U.S. Public Interest Research Group raised hell about “a big corporate loophole” that found its way into the Senate version of an appropriations bill. The offending language says that the ban on contracts for inverted corporations “shall not apply to the extent that it is inconsistent with the United States obligations under an international agreement.” .

U.S. PIRG points out that many known tax havens, such as the Cayman Islands, are parties to international agreements that could exempt companies “based” there from the ban. The Chamber of Commerce says, “We don’t want to be violating trade agreements.”

Since our Congress is owned by pirates and gnomes, it is no surprise to see them sneak in all sorts of tricky things that allow the past status quo to continue.  The entire reason why so many people voted for the Democrats was for something Obama called ‘change’.  Alas, this change is more like a wooden nickel sort of change. It clunks to the floor.

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The entire Senate except for less than 5, voted overwhelmingly for a padded, porky, oinky military spending bill.  This outrageous overspending on futile occupations and wars will be charged to our children. That is, we aren’t paying for this.  Since we now live in a ZIRP system, this means our government will pile on debts just like Japan and England have done.  That is, we will be owing more than our entire GDP in debts.  Japan is closing in on 200% of its GDP debt levels.

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This business is exactly like the business of outsourcing US jobs to all other nations: Congress works for aliens or people pretending to be aliens.  The US public can get roused about Hispanic illegal aliens but ignores pirates who pretend to be aliens from the Cayman Islands, Bermuda, etc.  Of course, these pirates are fake aliens.  And this is why I am just flabbergasted as to why can’t our expensive military pay for itself by invading these various islands and taking over them and thus, taxing these fake aliens who actually live in our country?

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Better still, instead of imposing sanctions on Iran, these pirate islands are much more deadly and are rapidly destroying our nation.  They are BANKRUPTING this nation.  So we must prevent them from operating as financial pirate coves!  How simple is this?  Just like our government won’t stop our jobs from emigrating to Asia, it won’t stop the pirates from ripping us off, dumping all US debts into the laps of the US public at large.

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Study: Britain Tops U.S. in Finance – DealBook Blog – NYTimes.com

The United States lost its No. 1 ranking as the most developed financial center in the world to Britain as the global financial crisis raised questions concerning the stability of the world’s largest economy. In fact the United States came in third, behind Australia, in the second annual study on financial development put out by the World Economic Forum. .

The United States’ move down the list of the 55 countries surveyed shows the extent at which the nation seems to have suffered internationally for its role in the financial crisis. Its reputation as one of the safest places to do business and invest money seems to have taken a major hit, which could have serious repercussions when it comes to foreign direct investment in the United States going forward. .

“London and the U.K. are looking ahead of New York and the United States,” Nouriel Roubini, the lead academic on the report, said on CNBC on Thursday. “Over all, both bank and nonbanking activities, in terms of M.&A., venture capital, broker dealers, investment banking — at the margin suggests that there is a strength now in the U.K. and London.” .

But while Britain surpassed the United States, both nations experienced a sharp drop in their overall scores that significantly decreased the margin with which they lead other countries in the forum’s rankings. “Financial instability weighed heavily on both, a factor that was offset by strength in some measures of financial intermediation,” the study said.

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‘London’ is simply the Queen’s headquarters for the web of pirate islands that are the real home of ‘London’ banking.  All the gnomes and pirates can operate with impunity using London as their cover as they use English territories for raiding international banking systems.  This NYT article mentions that Australia is catching up with the US.  This is obvious that it is all about the carry trade: just like Tokyo did NOT become the world’s #1 financial power as Japan flooded the earth with the Japanese carry trade deals. So it is with ZIRPy US banking: like Japan, we are at zero so Australia, which has a normal interest rate, is being flooded with deal making because it is a carry trade destination for lending schemes.  Just like money seemed to flood into the US when our rates were above Japan’s rates, so it is with Australia.

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Australia isn’t becoming a futuristic banking power any more than Iceland.  Indeed, Australia better wake up and smell the coffee.  Australia is a big commodity nation just like poor Iceland.  The people of Australia seem unaware that they, like in Iceland, may end up owing all the losses on banking deals made on their own shores.

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Cocaine Survivors Losing London Bonus See End to Bubble’s Binge – Bloomberg.com

Drugs and alcohol played a role in the death of Darren Liddle, a 26-year-old fixed-income analyst at Credit Suisse Group AG in London in September 2007. Liddle, who spent two stints in a psychiatric hospital, went on a cocaine and alcohol binge at the Hilton hotel on London’s Park Lane just weeks after leaving the hospital for the second time. He sat on the ledge of his 19th-floor room, shaking and crying, for more than two hours before jumping to his death. .

A coroner told an inquest in January 2008 that job pressures may have contributed to Liddle’s addictions. Credit Suisse declined to comment on the incident. Liddle’s father and brother didn’t respond to e-mails. .

“Medical people are absolutely bamboozled by the level of abuse going on in the City and the extreme level of cocaine consumption,” says Brendan Quinn, The Causeway’s chief executive officer and a specialist nurse in recovery treatment. “More and more people are coming in, putting their hands up and saying: ‘I’ve got a problem and I need help.’”

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What on earth was a child, a young man barely out of school, able to not only make immense deals that destroyed the entire planet’s banking systems, while going insane and being a total ditz on drugs?  What on earth is going on?  Story after story is pouring out of these computer-based investment houses that clearly shows that no one sane was in charge.  So, London is the world’s top banking center?  And who is at the helm?  The addictions are really death wishes.  This is yet another facet of the concept that wealth is death.  All ancient belief systems and stories, all riddles and fairy tales, all ancient beliefs point to the very clear connection of wealth with death.

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When people learn how to make money out of thin air, how to concoct crazy schemes like the odious OTC scraps of scabrous schemes, they go insane because all prudence and all concepts of morals, clarity and responsibility vanishes in a puff of cocaine snorting silliness.

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Japan Risks Undermining Banks With Loans Moratorium, Gomi Says – Bloomberg.com

The Japanese government may undermine banks by forcing them to defer debt repayments while easing accounting standards on the loans, the country’s former top financial regulator said. .

Shizuka Kamei, Japan’s newly appointed financial services minister, plans to submit legislation next month that would allow ailing small firms to postpone loan repayments for up to three years. Banks won’t have to classify credits encompassed by the moratorium as non-performing, he said this week. .

“Banks will ultimately end up carrying the bill for a compulsory moratorium,” Hirofumi Gomi, 60, who pushed for stricter disclosure of delinquent loans as Financial Services Agency commissioner between 2004 and 2007, said yesterday in an interview. “Allowing banks not to call loans non-performing only puts off a problem, which will hurt banks’ finances later.”

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Japan’s wacky banking system continues to unwind as one long Godzilla-sized movie monster that eats all of Tokyo after battling brave and irritated young Japanese school girls and English maids.  That is, the zombie banking system continues!  No  one is doing anything to fix anything because Japan is dying.  It is going bankrupt even as it sits like a mother hen on a trillion+ US FOREX nest.

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Here are this month’s Tankan numbers and it is a doozy.  Things are getting better the same way it is improving here: that is, it is still bad but not as bad as six months ago.  But the collapse in the economy is very stringent.  Japan’s numbers are grotesque.

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http://www.boj.or.jp/en/type/stat/boj_stat/tk/gaiyo/tka0909.pdf

Screen shot 2009-10-08 at 9.12.53 PM

Good lord!  Only food and beverage sales and utilities grew slightly.  The other sectors shrank badly.  Manufacturing fell by nearly half!  Wood products by nearly 100%??? Motor vehicles in June fell by nearly 80%??? This is called ‘near total collapse’!  Non-manufacturing fell by half as much as manufacturing.  This is due to the near-collapse in exports to the US. Since Japan didn’t sell us tons of stuff, look at the latest news from there:

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Japan Threatening to Oust US Troops From Okinawa — News from Antiwar.com

But the US ruled out holding any negotiations with the new government regarding its 60+ year long military presence, insisting they made all the agreements they need with the outgoing Liberal Democratic Party (LDP). .

The DPJ is reportedly playing hardball now, however, threatening to kick the US military off the island of Okinawa, which is where the bulk of their presence is situated. The islanders have long complained about the major burden of tens of thousands of US soldiers occupying a large chunk of their island.

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This deal was like pulling teeth with the LDP fighting tooth and nail, paying the US anything for moving.  Like all our allies, they want a free ride.  The US should look at reality a bit more and decide we can’t afford to protect the Japanese from the Chinese.  After the secret meeting last week discussing how to dump the US dollar, we should give it up.  Our day as the ‘sun never sets’ empire is rapidly falling into night.  We can’t run this planet.  We are about to lose several key states as California and Michigan both seem doomed to go under and die.  This is so insane.  I am a firm believer in a national system that protects itself.

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Protecting Japan has only deindustrialized the US.  Not only that, Japan has colonized our industrial structures!  Why on earth are we spending three quarter a trillion, protecting Japan from others who are also our trade partners?  This makes no sense at all!  We have one place to protect: the US.  If we fail in that, we fail globally.  So we have to figure out how to protect ourselves so we don’t go bankrupt.  Yet, Obama is thinking about shipping more soldiers to Afghanistan to die.  Right on the heels of the resurgent Taliban going after the hated Indian government with suicide bombers as well as overrunning and destroying US outposts. We lost.

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Time to figure out what is real and what is fake.

sunset borger

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14 Comments

Filed under .money matters

14 responses to “US Is Imitating Japan

  1. nah

    When people learn how to make money out of thin air, how to concoct crazy schemes like the odious
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    GIMMIE THE COCONUT
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    ya’ man do we think were going to get rich like japan or london…. how is funding ‘intent’ a noble ambition to U.S. elite…
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    somewhere between fake and stud we just learned to ‘earn’ an empire of dollars… im all for chinese industry… but management is what builds a financial empire… not transaction management but business/industry go it alone pricing…
    .
    our lemming economy of government needs more than Ayn Rand talking about how were some lepper colony of the helplessly connected built to feed each other… we need value added industry to give our immense commodity brand a platform of fair trade
    .
    http://video.google.com/videoplay?docid=-53565441845289277&q=nuclear+fision&total=185&start=10&num=10&so=0&type=search&plindex=0
    .
    everyone loves the Whopper

  2. Matheus

    And India and Brazil ? What do you tell about them ?
    I see that your equation we have, US , ‘Europe’, Russia , China , Japan, Germany, Australia ? And what about those two ?

  3. Yes, India! They took away all our call centre jobs and in 08 Bushie goes over there, praises their nuclear program (they’re not signatories to the NPT) and suggests we buy THEIR mangoes, which the M$M dutifully broadcasts to our (made in China) TV’s!!! And it’s not like we can’t grow mangoes in Florida!!!

  4. hardrock

    Nice piece Elaine, lots of info. If we could only get a few congressmen and senators to read [and understand] and have the guts to serve the long term best interests of their constituents instead of the assholes who bribe them we would be out of this mess and on to a new horizon in American history.

    Sun comes up in the West tomorrow!

  5. emsnews

    Zip, the Chinese were supposed to be exploited by the big bankers and big corporations. But the Chinese are not poorly educated or unused to running a vast empire.

    They are one of the oldest imperial powers on earth! So instead of exploiting the Chinese, the bankers, etc all ended up being sucked into the Chinese communist system where they are definitely TRAPPED and can’t get out!

    They hate this which is why the US government tried very hard to cause an insurrection inside of China in Tibet. Up until that day which was last summer, the Chinese were willing to humor all of the western elites.

    Now they are playing hardball. And they know really well, how to play imperial hardball!

    The Western elites thought China was still weak like under the earlier emperors who allowed the defenses of China to deteriorate. No longer so today!

    So there are two conspiracies at work here: the Euro-US elites who want a ‘world government’ run by themselves and the Chinese who are kicking this system to the curb or taking it over.

    Whichever happens, it will be due entirely to the Chinese using one solution or the other.

  6. charlottemom

    Bizarre headlines this morning.

    Obama wins Nobel (hope for) Peace Prize

    Fox News reporting News Team Under Fire in Israel. (umm.. Fox cameraman had rocks thrown at him – I’m not kidding.)

    Overdrive of propaganda trying to influence US policy re mideast. What will Obama do?
    Where will the dollar go – higher or lower?

  7. billibaldi

    Elaine, I assure you some Australians are aware of the problem. Unfortunately we Australians are no smarter than the rest of the world.

    We also have exported almost all of our manufacturing overseas. Our auto industry exists purely on taxpayer subsidy and has done for decades (AU$60000 per job).

    Some of us have not forgotten the Japanese excesses of the early 90’s. Laguna Quays, a resort near the Whitsundays was built by the Japanese for golfing holidays for $200 million and ended up selling for $80 million. We are hoping for these kinds of opportunities.

    I do think that we are overdue for some tough love from China.

  8. justiceatsqualor

    charlottemom, I suspect Obama got the nobel prize in order to keep liberals tricked into thinking he’s a liberal, instead of a right-wing democrat similar to the neo-cons, and a part of the two-headed, hegelian dialectic manufactured by the elites.

    Elaine, if I thought the “euro-U.S. elites who want a world government” were going to succeed, I wouldn’t be blogging here. In order to get from here to there, they need to get the whole world onto their version of central banking post-peak oil: a cap-and-trade style emissions control. Problem is that their partial success is worse for American than their total success. If they only partially succeed in the West, they remain wealthy and in power, but China, Russian and others get to finish sucking us dry and de-industrializing us. From an American standpoint, the partial success of the “euro U.S. elites” is far worse than their complete 1984 style world government based on energy privations.
    China and Russia are laughing at us as they nod their heads and watch our bankers turn inward, drowning us in debt and doing to the U.S. what they’ve practiced in the third world for decades. Just like the co-opted leaders of those third world nations who sold their nations into debt slavery, the “euro-U.S. elites” are now cannibalizing their own system to stay in power and make some lame punt at “world government.” Those credit crack-heads have no other play before the back side of the Hubbert curve.

  9. emsnews

    Just did a major editorial and cartoon about the joke of a Nobel Peace prize. Hu should be getting it, not Obama. Hu just pulled in North Korea and is disarming the dictator there without any sanctions or bombs.

    And Obama wants to bomb Iran!!! This is pure insanity.

  10. zip

    well it may sound stupid, but could it be that:

    the “depression card” of the EU-US elite can not be played all the way, because if they do, the chinese are happy to step in and buy everything for bargain prices. And so the chinese will be onthe winning hand rather than the “old elite”.

    And so the the big discussion is…if it will be a short v-recession, or w or whatever shape….and what can be gained without losing to much to the chinese…

    so without China it could be a lot worse…

    nice cartoon….what would happen with the nobleprice if somewhere between now and 10 decembre Israel / Us attack Iran…??

  11. emsnews

    The Swedes could give it to the President of Iran instead. 🙂

  12. @Elaine: thanks for stating (once again, probably although I just found out that) the banksters et al got sucked IN to the Chinese system and are trapped! It certainly explains the bubble blowing that has been going on this year in China. My wager is, the gnomes (mostly Jewish IMO) think that, if they can’t get out, they’ll pull a Samson and pull down the temple of China’s civilisation! Except unlike Samson, they’ll escape! HAHAHA. When has that ever succeeded when they tried that before? Only once, in the US of A.

    I discovered this gem over at Denninger’s website forum: Ron Paul is no longer accepting Denninger’s faxes! http://www.tickerforum.org/cgi-ticker/akcs-www?post=113855

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