Xiang Ji’s Bookshelf

You Don’t Need To Innovate In Finance; You Don’t Need To Invent Anything New

Very well, it’s all China’s fault

After accusing China being responsible for the housing bubble, Bear Stearns, Lehman Brother, Merrill Lynch, AIG, Goldman Sachs, Bernie Madoff and the Fed’s stinking balance sheet, Fed Chairman Bernanke now says China is the reason why the U.S. has almost double-digit unemployment, distressed housing prices, unAmerican consumers and unacceptably low inflation. Keep it up, Ben!

no comments yet

Written by Xiang Ji

November 19th, 2010 at 12:31 pm

Posted in Interesting Links

The Wicked Economist

In its new cover story, the outdated British newspaper THE ECONOMIST produced the same old BS it has been manufacturing since the Cold War. Xi Jinping is not an emperor, and the Chinese people are not serfs or slaves. As much as you wish it so, the CCP has little to do with Communism. Presidential dynasties are a phenomenon almost universal. But then, disconnectedness to reality has always been a sign of decline.

no comments yet

Written by Xiang Ji

October 25th, 2010 at 5:30 pm

Posted in Interesting Links

The Achilles’ Heel of Economics

is that this is a study that has little forecasting power. Theories are formulated post-fact. According to the classic economics theory, quantitative easing should lead inflation to go up and the country’s currency to depreciate in value. Though that is certainly not the case in the 21 century globalized economy we are in today. US government’s printing press was in full steam, yet deflation is a concern and USD is stronger still.

no comments yet

Written by Xiang Ji

October 22nd, 2010 at 1:43 pm

Posted in Interesting Links

Mr. T’s Bling Bling

Always wondered what kind a conversation it would be when the two extremes meet:

no comments yet

Written by Xiang Ji

October 14th, 2010 at 2:51 pm

Posted in Interesting Links

Meredith Whitney Watch

For people who make a living by offering predictions, it is worthwhile to track how well their crystal ball work on the long-term.

The famous once-analyst Meredith Whitney is currently forecasting impending crisis for the 50 states in the U.S.

“Crippling debts and deficits are about to make individual states the next casualty of the credit crisis…But other states, such as California and Michigan, will burden the entire country should the federal government decide to step in with a bailout. States are required to balance their budgets, but massive debt-service payments could prevent that from happening in many states and necessitate the federal government to step in.”

no comments yet

Written by Xiang Ji

September 29th, 2010 at 3:42 pm

Posted in Interesting Links

Brilliant Mundell Talks about the Euro and RMB

with Bloomberg.

no comments yet

Written by Xiang Ji

July 12th, 2010 at 11:52 am

Posted in Interesting Links

Google’s Being Evil…And Irrational

After sleeping with the devil (read: Chinese government) for a number of years, Google woke up one day and decided it had enough. “I’m going to leave you now,” said Google. “The world knows you are evil. And you see, my philosophy is ‘Don’t Be Evil.” Thanks for the &^%&*(&…Hey, it was never good, you *&&^@!”

A few months later, Google still hasn’t packed up and get its ass out of the devil’s chamber. At the moment of departure, Google had an epiphany: Being the most innocent being in the universe, it needs the nourishment of devil’s scum to stay strong. “Please, can I stay?” Google plead to the devil, all teary. A moment later, Google hardened its voice, puffing on a cigar, said in a slow feminine voice: “My dear, whatever you do, you are evil. Let me stay, I shall $@#% you harder than before. If you don’t, I will send all your nude pictures to my minions.”

no comments yet

Written by Xiang Ji

June 29th, 2010 at 10:46 am

Obama Is Not An Economist

Sometimes you find a glimpse of humor in dreary Bloomberg stories: Keeping the yuan pegged to the dollar has been “a great source of stability” for China and the world, the Columbia University professor told reporters in Hong Kong today. While U.S. President Barack Obama welcomed the move, “he is not an economist,” Mundell said.

no comments yet

Written by Xiang Ji

June 21st, 2010 at 12:42 pm

Posted in Interesting Links

Chinese Auto Market

I love these interviews with Chinese officials (I posted one previously of Chinese Ambassador in the UK having tea with the FT) or executives. These people don’t talk to foreign press that much, and their manners are interesting to watch:
FT talks with Beijing Auto.

no comments yet

Written by Xiang Ji

April 19th, 2010 at 9:47 pm

Posted in Interesting Links

Tagged with ,

Federal Property Levels

For all those who think their stash is never thick enough, here is the federal poverty level.

Still a long way to go to be officially poor?

number of person(s)

1 $10,830 $11,913 $13,538 $16,245 $18,953 $20,036 $21,660
2 $14,570 $16,027 $18,213 $21,855 $25,498 $26,955 $29,140
3 $18,310 $20,141 $22,888 $27,465 $32,043 $33,874 $36,620
4 $22,050 $24,255 $27,563 $33,075 $38,588 $40,793 $44,100
5 $25,790 $28,369 $32,238 $38,685 $45,133 $47,712 $51,580
6 $29,530 $32,483 $36,913 $44,295 $51,678 $54,631 $59,060
7 $33,270 $36,597 $41,588 $49,905 $58,223 $61,550 $66,540
8 $37,010 $40,711 $46,263 $55,515 $64,768 $68,469 $74,020

First number (annual income) is 100% of poverty, second is 110%, 125%, 150%, 175%, 185% and 200%.

no comments yet

Written by Xiang Ji

March 22nd, 2010 at 5:58 pm