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China is actually notoriously decentralised when it comes to practical economic decisionmaking authority. If Beijing had tight control of provincial cadres, they wouldn't have a problem getting them to rein in the property bubbles, local gov't debt, abusive enclosures, etc. e: theres a review of some of these issues here http://down.aefweb.net/AefArticles/aef130101Shen.pdf Paper Mac fucked around with this message at 12:08 on Mar 16, 2014 |
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Mar 16, 2014 11:46
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Cultural Imperial posted:Basically all these people were getting rich and they couldn't do anything with their money except buy houses because it was forbidden by Islamic law. This is hilarious if you know anything about Islamic finance tbh
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Mar 18, 2014 21:53
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Where are you guys pulling these figures from? I'd be surprised if the average 2bdr in Toronto proper is much larger than 750-800.
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Mar 24, 2014 01:52
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What the gently caress is "alpha++". Is that like Michelin stars for cities or are you guys just making poo poo up now
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Apr 4, 2014 22:15
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Ah, so that's the kind of poo poo they teach you to say with a straight face in b-school:quote:A roster of world cities was outlined in the GaWC Research Bulletin 5 and ranked cities based on their connectivity through four "advanced producer services": accountancy, advertising, banking/finance, and law. A significant number of my colleagues and acquaintances are highly-compensated biologists, doctors, and engineers, most of them have international work experience, and I've never heard that term before. The list would look pretty different for other professions.
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Apr 4, 2014 22:27
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Surely you jest- you'd rather be an accountant in London than a biologist in San Diego? You can surf at lunch. In winter.
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Apr 4, 2014 22:57
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I just had an epiphany from this alpha thing: FIRE is the bro economy. Stay with me here. I was recently reading an extract from Michael Lewis' HFT book and I think I can make the case here: http://mobile.nytimes.com/2014/04/06/magazine/flash-boys-michael-lewis.html?from=homepage Ok so briefly this RBC trader guy (Katsuyama) gets sent to Wall St. and fails massively. RBC allows him to investigate his massive failure and by exploiting the labour of people smarter than him, he discovers HFT is frontrunning all his trades. They are working on a tool to stop this from happening, by deliberately slowing their trades so that they arrive at various exchanges roughly simultaneously. Exhibit A: quote:The tool needed a name. The team stewed over this, until one day a trader stood up at his desk and hollered: “Dude, you should just call it Thor! The hammer!” Someone was assigned to figure out what Thor might be an acronym for, and some words were assembled, but no one remembered them. The tool was always just Thor. “I knew we were onto something when Thor became a verb,” Katsuyama says. “When I heard guys shouting, ‘Thor it!’ ” In order to investigate the HFT problem and build tools to defeat it Katsuyama hires some Irish guy (Ryan) who is supposed to be an expert in HFT. Ryan has entered the field with the following stellar qualifactions Exhibit B: quote:Eventually he met another Irish guy who worked in the New York office of MCI Communications, the big telecom company. “He gave me a job strictly because I was Irish,” Ryan says. After a while he figures out what a millisecond is and loses alpha status. The relatively swift Ryan has this to say about the traders he works with Exhibit C: quote:“Physics is physics — this is what the traders didn’t understand,” Ryan says. In approximately 2011 Katsuyama realises the parlous state of affairs among those even more alpha than he (alpha++, one might say). For anyone who doesnt spend far too much time reading stupid bullshit on the internet, HFT was reported by notable crackhead trader blog ZeroHedge in 2009. By 2011, algorithmic trading was a well-documented running joke that exemplified the most absurd and kafkaesque aspects of the American stock markets among anyone paying attention to them Exhibit D: quote:Eventually Brad Katsuyama came to realize that the most sophisticated investors didn’t know what was going on in their own market. Not the big mutual funds, Fidelity and Vanguard. Not the big money-management firms like T. Rowe Price and Capital Group. Not even the most sophisticated hedge funds. The legendary investor David Einhorn, for instance, was shocked; so was Dan Loeb, another prominent hedge-fund manager. Bill Ackman runs a famous hedge fund, Pershing Square, that often buys large chunks of companies. In the two years before Katsuyama turned up in his office to explain what was happening, Ackman had started to suspect that people might be using the information about his trades to trade ahead of him. QED
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Apr 5, 2014 00:28
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The only chance we have for a soft landing is to interdict cocaine and stripper inputs and curb their population.
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Apr 5, 2014 00:49
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Why does the treasury board have that policy? Don't we already provide base housing?
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Apr 9, 2014 06:07
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Get a certified cheque for first and last, bam, problem solved.
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Apr 9, 2014 17:16
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I wonder if when weed is legalised terroir will become a thing for weed, and particularly good or ~culturally significant~ weed land will be a valuable commodity.
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Apr 16, 2014 21:15
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23%??? Jesus, man, that explains a lot about some of the stuff I've been seeing in this town. I knew it was bad but that's European bad.
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Apr 19, 2014 17:29
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Throatwarbler posted:What the gently caress does anyone even do in Ontario, other than shoddily assembling Dodge Caravans? Everything? Ontario is 40% of the country's GDP, its economy is more than twice the size of Alberta's and far more diversified.
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Apr 22, 2014 02:26
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