In a move that would make even Hewlett-Packard's Meg Whitman blush, Harbin-based Heilongjiang Longmay Mining Holding Group, or Longmay Group, the biggest met coal miner in northeast China which has been struggling to reduce massive losses in recent months as a result of the commodity collapse, just confirmed China's "hard-landing" has arrived when it announced on its website it would cut 100,000 jobs or 40% of its entire 240,000-strong labor force. http://www.zerohedge.com/news/2015-09-27/chinas-hard-landing-has-arrived-chinese-coal-company-fires-100000
현 정권 출범 직후인 지난 2013년 5월, 정부의 ‘싱크탱크’라고 불리는 국가미래연구원 김광두 원장은 ‘좀비기업’ 양산을 우려했다.
당시 김 원장은 서울 여의도에서 열린 금융투자업계 최고경영자 간담회에 참석해 “시장에서 기술이 제대로 평가받을 수 있는 환경이 조성되지 않으면, 내실이 튼튼하지 못한 벤처기업에 자금이 흘러들어가 좀비기업을 만들 수 있다”며 “이는 배수구가 막힌 저수지에 물을 붓는 것과 다름 없다”고 말했다.
벤처 업계 관계자들은 정부 자금에 의존해 연명하는 회사들을 ‘좀비 벤처’라고 부른다. 좀비처럼 죽지도, 부활하지도 않고 명만 이어간다는 뜻에서 나온 말이다.
좀비기업의 자산 비중과 정상 기업의 고용증가율, 투자율 간 상관관계 /자료=한국개발연구원
최기창 서울대 공과대학 교수는 “단지 취업을 못했다는 이유로 정부 보조금을 받아 창업하는 사람들도 있는데, 엄밀히 말해 이들은 기업의 채용 기준에도 못 미친 사람들”이라며 “호구지책으로 창업해 단순히 연명하는 벤처 기업에 정부 보조금을 준다는 건 말이 안 되는 일”이라고 말했다.
The U.S. treasury holding has been an important part of the global capitalyst dynamics, as pointed out many times. For one, to understand the rapid rise of Japan, Korea and China, one would have to understand it.
“KID Museum was still a ‘museum without walls’ in 2013 and a Maker Faire was a great way to bring to the community the type of interactive programming we were interested in doing at our museum, so we brought the first Maker Faire to the D.C. region. Since then, the Maker Movement has caught hold. The Silver Spring Maker Faire was so popular that it put ‘Maker’ on the map for people here. Now, there’s the National Maker Faire in D.C., and a number of Makerspaces have sprung up. KID Museum has since opened its doors (we’ve been open since last October) and we offer hands-on Maker programming for children ages 6 to 14.”
"As interest rates go more negative, market participants will have increasing incentives to make payments quickly and to receive payments in forms that can be collected slowly. This is exactly the opposite of what happened when short-term interest rates skyrocketed in the late 1970s: people then wanted to delay making payments as long as possible and to collect payments as quickly as possible.... if interest rates go negative, we may see an epochal outburst of socially unproductive—even if individually beneficial—financial innovation."
"This is all a bit moot really, because except for the betting parlors it doesn't matter whether the Fed raises 25 basis points or not. You can print money and give it to the banking system and the very wealthy for their personal gambling and asset acquisitions activities all day long.
The system is broken, the real product of the nation has been hijacked by financialization, the international monetary exchange is in chaos, and almost all of the gains are going to the top.
And the Fed and the government are doing virtually nothing to change this."
The Banks must be restrained, and the financial system reformed, with balance restored to the economy, before there can be an sustainable recovery.
And keep the financial system on life support while the rest of the economy languishes, the poor suffer, and the middle class deteriorates is not coherent, except for a narrow band of beneficiaries.
Let us be reminded that the Fed is also a primary regulator of the financial system as well as an interest rate joystick operator.
And the mainstream media and the politicians wonder why the public is not doing what they expect.
"U.S. Census Bureau data out Wednesday underscore just how lousy the recovery has been if you aren't rich. Looking at eight groups of household income selected by Census, only those whose incomes are already high to begin with have seen improvement since 2006, the last full year of expansion before the recession. Households at the 95th and 90th percentiles had larger earnings through 2014, the latest year for which data are available.
Income for all others was below 2006 levels, indicating they're still clawing their way out of the hole caused by the deepest recession in the post-World War II era."
And this result, after eight years of some of the biggest expansion of a central bank balance sheet in US history!
Kyle Bass, the founder and manager of Hayman Capital and the man who spotted and shorted successfully the subprime bubble was interviewed today at CNBC. He shared his macro views during the “Squawk on the Street” and revealed that he is bearish emerging markets and believes that the Chinese economical issues are just starting and that’s because the banking sector still has more bad debts to reveal and write-off. According to Kyle the loans pass due in 90 days grew by the whooping 167% just for half an year. He thinks that it will take at least 2-3 quarters until the banking sector reaches its NPL peak and thinks that this will force the government to recap its banks. But Kyle shares that it will be at least 2 more years until the emerging market slowdown is over and banking problems are fixed.
Remember when Hewlett-Packard announced it would fire 58,000 in February just so the company could spend even more billions on stock buybacks to make its shareholders filthier rich? Alas, since then things have gone south not only for HPQ stock but also for the company's buybacks activity and so Meg Whitman clearly needed to spend even more on buybacks. But where to get the money? Wait, here's an idea: lets fire another 30,000!
14일 기획재정부와 금융위원회 국감에서는 여야 의원들이 한목소리로 '빚 걱정'을 쏟아냈다. 세종 청사에서 열린 기재부 국감에선 나랏빚이, 국회에서 진행된 금융위 국감에서는 가계부채가 도마에 올랐다. 내년 예산안이 시행되면 사상 처음으로 국가채무 비율이 국내총생산(GDP)의 40%를 넘고, 가계부채는 이미 1130조원을 넘어선 상황이다.
박원석 정의당 의원은 "가계와 기업, 정부 부채의 증가 속도가 공히 너무 빠르다. 특히 가계부채는 경제성장률의 3배 속도로 증가하고 있다"고 지적했다.
여당 의원들의 목소리도 비슷했다. 류성걸 새누리당 의원은 "정부 약속과 달리 총수입 증가 속도가 총지출 증가 속도보다 적은 것이 문제"라며 "국가채무 비율이 GDP의 40%까지 왔는데, 이 정도면 유럽이나 다른 나라에서도 경고 신호로 받아들인다"고 지적했다.
Being both a maps enthusiast and an avid wargamer, I love this idea of 3D printing full-color, palm-sized terrain maps of famous battles from Japanese history. 3DPrint reported on these maps last week and describes the history behind the project.
This campaign covers eight famous battles of Japanese Warring States Era (late 1500s to early 1600s) such as the famous Honnoji incident in which Oda Nobunaga was forced to commit suicide with his own sword by Akechi Mitsuhide in AC 1582 and the climactic battle of Sekigahara which later decided the ruler of feudal Japan in AC 1600,” explained Rinkak’s Pauline Chen.
This article is part of our September 2015 special report on startups, which highlights IEEE’s efforts to attract more entrepreneurial types to the organization. Meet IEEE Member Limor Fried. Her do-it-yourself electronics company for hobbyists has carved out a category all its own and is worth millions. Through the new IEEE entrepreneur initiative, the organization hopes to attract more members like Fried who are developing engineer-inspired ventures. Fried’s company, Adafruit Industries, makes hundreds of different kits, including ones for electronics experimentation built around an open-source prototyping platform to make gadgets such as smartphones, handheld video games, and a wearable for GPS-enabled clothing so “you’ll never get lost again.” The most popular is the US $19 MintyBoost, a charger for an iPhone or iPad. Its circuit and two AA batteries can fit in an Altoids mint tin.
"While he was in Jerusalem for the feast of Passover,
many began to believe in his name when they saw the signs he was doing. But
Jesus would not trust himself to them, because he knew them all, and did not
need anyone to testify about human nature. He himself understood it well."
Calling all Makers: Here’s your chance to “think globally, act locally” and support Maker Faire — and your local bookstore, too. Make: has partnered with our friends at Barnes & Noble to bring Making to 650 domestic stores for the weekend of November 6 to 8, as part of the Barnes & Noble Mini Maker Faire program. This is your chance to share — at a very local level — your projects, your passion, and your enthusiasm for Making.
Stockman unleashes truthiness hell on Bloomberg TV: "Federal Reserve [actions] will have disastrous long-term consequences... when you deny price-discovery in the market for so long, it is a massive subsidy to speculation... In an era of peak debt, the only thing zero interest rates achieve is create an enormous incentive for Wall Street to gamble more and more recklessly..."
Again, Korea is in the danger zone. Stimulus won't work. Period.
중앙일보로부터: 서로 반대 방향으로 튀는 두 마리 토끼를 잡아야 하는 내년 예산안의 고민이다. 최경환 부총리 겸 기획재정부 장관 취임 후 금리 인하와 재정지출 확대에도 불구하고 경기 회복세는 미약하다. 여기에 중국의 경기 둔화와 미국 금리 인상 가능성이란 악재도 도사리고 있다. 경기만 본다면 적극적인 재정의 역할이 절실하다. 그러나 나랏빚에도 경고등이 켜졌다. 내년도 나랏빚은 올해보다 50조원 넘게 늘어난 645조원에 이를 전망이다. 국내총생산(GDP) 대비 국가채무 비율(40.1%)이 사상 처음 40%대에 진입한다. 글로벌 금융위기를 맞은 2009년 이 비율이 30% 선을 넘은 지 7년 만이다.
Hello instructibles!! I just made something really really cool. Its not quite mind reading but it sure is close! I have made an arduino powered eeg machine, also known as Electroencephalography machine. Now normaly these will cost you lots of money and are hard to understand without a degree in neuro science, but this arduino version is much cheaper and easier! So you might be asking... What does it do? In short it reads brainwaves that are created by your brain. This allows us to tell how much a person is paying attention or if he/she is deppressed or in an emotional state. http://www.instructables.com/id/Arduino-EEG/
The data point everyone has been waiting on is out and, just as we tipped weeks ago, China liquidated nearly $100 billion in USD assets during the month of August in support of the yuan.
"If the pace of FX intervention remains at USD86bn per month, we estimate that the PBoC could lose up to USD510bn of its reserves between June and December 2015, which would represent a nonnegligible decline of 14%."
"The room to ease policy further, i.e., to adopt counter-cyclical policies, is now much more limited than in the past. To the contrary, in some cases monetary tightening may be needed (despite weaker real business cycles) in order to continue to attract foreign capital, anchor domestic currencies and preserve the integrity of the respective inflation targeting frameworks. Hence, we may soon enter a period of weaker FX and higher policy and market rates: i.e., market dynamics that would resemble more the 1997 Asian Financial Crisis."
The bicentenary of Augusta Ada King, Countess of Lovelace, heralds the critical reassessment of a remarkable figure in the history of Victorian science. Ada Lovelace (as she is now known) was 27 years old and married with 3 children when she published the first account of a prototype computer and its possible applications in 1843. Her 20,000-word paper was appended as seven Notes to a translation of a descriptive article, Sketch of the Analytical Engine Invented by Charles Babbage, Esq.
