Singapore just passed on Friday the most interesting deleveraging Act targeting the housing market of any country in history. In a move that took the world by surprise, the Government of Singapore has introduced new measures as of Friday designed to deleverage  the property market and stop home buyers from over-extending themselves to temper and control […]

You just have to love the court system. When the big brokerage houses were charged with bogus analysis and paid fines to the SEC, a private class action suit was filed in Southern District of New York (SDNY) and it was dismissed when shareholders tried to file suit. Merrill Lynch & Company had won the […]

UNITED STATES v. ZICHETTELLO 208 F3d 72 (2d Cir 2000) UNITED STATES of America, Appellee, v. Thomas ZICHETTELLO, Defendant, Frank Richardone, Ronald Reale, Richard Hartman, James J. Lysaght, and Peter Kramer, Defendants-Appellants. Docket Nos. 98-1376(L), 98-1377, 98-1378, 98-1379, 98-1380. Argued June 8, 1999 — March 30, 2000 Before: WINTER, Chief Judge, OAKES, and SACK, Circuit […]

  Within less than one year, the United States in its Draconian move threatening to confiscate the assets of any foreign entity that FAILS to report what Americans are doing overseas has so devastated international business it is an understatement to overlook this legislation for it is having the same effect as  the Protectionism of […]

  I promised everyone at the San Diego Conference that I would make a first hand account of the world economy on this trip. Hong Kong property is at record highs. Mainland has let Hong Kong largely alone. In China, what I observed in 1997 when I was invited by the Government to assist after […]

We are preparing a Special Asian forecast for the Bangkok Seminar. We will be reviewing Asia on a country by country basis and have been reviewing things in China as well, which will be critical for the Global Economy. Bangkok Seminar November 2nd & 3rd

Gold is still in a position to press higher. Next week remains a target for rising volatility and the week after a turning point. The numbers are the numbers. We need a weekly closing ABOVE 17997 to signal a retest of the old high. But gold is not yet ready for the breakout. That appears […]

In China, the top scandal is about corruption. The story of Bo Xilai, a charismatic and ambitious politician, who was the Communist Party secretary of China’s sprawling Chongqing municipality. The papers talk about how he was driven by the greed of his wife. At least it is in the open and being discussed. This stands in contrast to […]

One of the Question at the San Diego Conference was about the acceptance of cycles in the West. In Asia, cycles are part of their religion. In the West, the Business Cycle has been acknowledged by everyone of any substance, The theories of Marx and Keynes had a common denominator – government can eliminate the […]

One of the primary mistakes that the Federal Reserve is making has been to follow the same policy of Japan with exceptionally low interest rates. While the theory that lower interest rates will stimulate borrowing, the false assumptions are many. (1) banks will pass on the savings, (2) they ignore the devastation imposed upon the […]