Mother of all carry trades

Quick one re Media Matters:  I don't really follow these guys, I just took note of who pays the bills, but today I saw a news item and went to the site.  I read a paragraph and realized I should return to teaching writing.

Media should opt out of forwarding Lieberman's dubious public option claims

October 28, 2009 2:41 pm ET — 44 Comments

Media outlets continue to uncritically report Sen. Joe Lieberman's (I-CT) statement that he will oppose cloture for the Senate health care reform bill because he believes the opt-out public option provision Senate Majority Leader Harry Reid has said will be included in the bill would increase the national debt and burden the taxpayers.

The media should stop reporting Sen. Lieberman's opinion or, at least, attack him for his opinion regarding something he has read and no one else has. This is an example of Media Matters pretend critical review of the media: SILENCE ALL CONTRARY OPINION, SIEG HIEL!

I know you think this is not a compositional problem, but it is, if you are a fan of propaganda. This is an absurdly heavy handed bark, not a sneaky spin. I guess morons just grunt and scratch at this big news. So much for wasting time there. I suppose the congregation likes to believe the sermons directed at it are objective even if they could never make such an analysis.

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The poster translates as 

Victorious or Bolshevism

Even the NAZIs knew when to stop. Anyway, for news that matters, that you can do something about:

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I dabble in currencies, gold, etc and picked the dollar for its recent rebound, for a little while, so I  understand the game of the carry trade. It sounds clever, see below, but you better guess right. The current snap in the consensus opinion about currencies may create a monstrous ripple.  Again, we are on a cliff:

Professor Nouriel Roubini said today, speaking via satellite to a conference in Cape Town.

“We have the mother of all carry trades,” said Roubini, who predicted the banking crisis that spurred more than $1.6 trillion of asset writedowns and credit losses at financial companies worldwide since 2007. “Everybody’s playing the same game, and this game is becoming dangerous.”

In the carry trade, investors borrow in a currency of a nation to purchase assets in another country where returns are higher. The risk in such transactions is that currency-market moves may erase profits.

Benchmark interest rates of 0.1 percent in Japan and as low as zero in the U.S. make the yen and dollar favored targets for investors seeking to fund carry trades.

This all starts to hurt your head; my view is to just worry all the time.  This should help.