Word: assets
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...again. The subprime mess that is cutting so wide a swath through financial markets can be traced to the alchemy of creating collateralized debt obligations (CDOs) compounded by the enormous amount of leverage applied by big hedge funds. CDOs are derivatives - synthetic financial instruments derived from another asset...
...Although some say the July spike was due to short-term food shortages, the increases "are a lot less temporary than some people think," argues Michael Pettis, a professor of finance at Peking University. "China is now exhibiting nearly all the expected consequences of excess money - explosive lending growth, asset bubbles, overinvestment and inflation...
...gauges, however crude, of ignorance - and of fear based on ignorance. In the unfolding financial story of the year - the bursting of the global economy's credit bubble - "the biggest problem is we don't know what we don't know," says Khiem Do, head of Asian Multi Asset investing at Barings Asset Management in Hong Kong...
...York City is no country for driving men (or women). A combination of congested streets, alternate-side parking regulations, and excellent public transportation make it one of the few places in the world where a car is usually more of a hindrance than an asset when trying to get from one place to another...
...This outcome can be avoided. The biggest risk to capital markets is protectionist policies that reduce capital flows and discourage foreign investors from accumulating dollar assets. Economics is all about engaging in transactions that make both sides better off. U.S. capital markets need Asian investors, and Asians want to sell to American consumers. Trading goods for assets will improve the welfare of both. If roadblocks go up, the real losers will be Americans who would see higher inflation and sinking asset values...