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hello when of the week people that start in China from AFR Chinese steel production will fall over the next three years according to figures released at a major iron ore conference on Thursday the Deputy Secretary-General of the metallurgical mines Association of China news Yao Yang forecasted by 2015 China would demand only 705,000,000 t of crude steel that’s a fall of about 2% from this year when China is expected to consume around 720,000,000 t of crude steel something like this is my based case which means the iron ore prices headed under 80 bucks in the medium term and is going to stay there this is the mining boom going bust this is talking to Australia Reuters China’s central bank injected a net 365,000,000,001 about 16 billion bucks into money markets this week traders said the largest weekly injection in history as regulators struggle to maintain liquidity without producing inflation as XXXX inflows slow it was a bit much said a trader at state-owned bank in Beijing in reaction to the size of the injection this meaning and there is no walk at two banks reserve requirement ratio likely in the near term China does use reserve ratios as well as capital ratios requirement Reuters again the China’s steel market the world’s biggest is feeling the pinch of a slowing economy that has sapped demand for new ships and construction work its largest listed steelmaker has halted output at 3 million turns a year plant and over a third of the country’s iron ore mines stand idle in an attempt to kickstart the economy Beijing this month approved infrastructure projects worth about hundred and $60 billion at a lot in China but there is no certainty that plans to build highways ports airport runways will significant significantly boost steel demand as they were flying out there anyway the government infrastructure investment may only improve sentiment I don’t expect a big lift in steel demand at the government infrastructure investment may only improve sentiment is right that gone to FGA vill the expectations bluff madman mad than 90 gun toting mandate Elio Wattie thinking with Kuwait Turner tea it so inflationary are but what if is Dario Perkins at Lombard Street research wonders this week that’s exactly the reaction the 90 was hoping for UC when a central banks normal tools run dry all banks really got left our Jedi mind tricks and that means manipulating people’s minds on a nationwide if not global brainwashing basis mass arching expectations another one from Isabella Kaminski at A vill a time of holding and inflation fears 1930s addition it a very long article it draws on an awful lot of newspaper articles from the 1930s new were a United States at this particular one 1933 why then do our congressmen desire to manufacturer more money the money now and the bank is likely paint in a barrel as long as we have nothing to pay the paint stays in the barrel we cannot get something to paint by putting more pain in the barrel and third 20 articles drawn from the 1930s in that particular article and talk about all of them harm mainly thereabout inflation inflation when we now know in hindsight it was the biggest deflation the bust of the 20th century finish with this pulled room and New York Times conscience of liberal taken from his latest article 2 paragraphs okay the reassuring part as a card-carrying model building economist my justification for existence relies on the belief that the issues and fundamental stories in economics are fairly stable over time not completely stable I don’t think you want to apply modern Keynesian theory to Roman Empire under Diocletian but stable enough that say major financial crises generations apart share many of the same features that a liquidity to trap in the 1930s is recognisably the same kind of animal as a liquidity trap in the 21st-century alternative view would be that everything depends on the specifics that our modern service dominated economy with globalised manufacturing and the Internet and all that is nothing like the economy of our grandfathers and all the rules are different that strawman itch but there we go and over longer enough stretches that is true as I said Diocletian’s economy or indeed any economy dominated by agriculture properly was completely different but Kane uses an FDR’s economy it turns out was enough like ours that the same stylised models still apply says poorly I think our job and I’ve started it own the new website build what you think her the menu buttons at the top are most of them were starting to work now on putting things in slowly one which reads Read and then drops down to read me read them I started putting in an something not left the comments open on that one for something change over time I would go to and right into little always be there is read me what we have I think to work out between this is will make it simple what is different now to what we had in the 1930s depression around the world that really went on through a Second World War and only came out of it 15 years later after an awful lot of turmoil and half the world being flattened at my opening idea on that is 1850 oil started coming out of the ground 1850 we had the great depression in 1930 and after that 1945 the was still 60 years of cheap oil to come out and now we seem to have gone wash up and we do not seem to have cheap oil any more that is one of the major things that is different from the 1930s and could affect the liquidity trap that was then to the liquidity trap that is now through many more and if you’d like to typing comments here or there will try and put them all in that document book that one thing is certainly clear we do not have a future and that’s what debts are based on you take out debts based on a future we don’t have a future based on rebuilding the world all done on cheap energy unless somebody goes out and finds an awful lot this week and it’s Friday that is one major difference and there are a good few more like a population of the Earth but for the moment I am I think concentrating the main difference being on our those two things we do not have the next 50 years of cheap energy and we do have 7,000,000,000 to 8,000,000,000 people to take care of to give work to because work via jobs is the way we distribute money and by distributing money then the people the seven 8 billion feed themselves holiday with you thank you by
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