tag:blogger.com,1999:blog-4815867514277794362.post5323468667865745772..comments2024-03-08T06:18:28.125+11:00Comments on Bronte Capital: The hookers no longer cost too much: geopolitics and the price of prostitutes in the Baltic StatesJohn Hemptonhttp://www.blogger.com/profile/03766274392122783128noreply@blogger.comBlogger14125tag:blogger.com,1999:blog-4815867514277794362.post-84322699438324006182009-06-04T15:34:55.777+10:002009-06-04T15:34:55.777+10:00It did predict a crisis. early warning deinitely.
...It did predict a crisis. early warning deinitely.<br /><br />http://scurvon.blogspot.com/2009/06/latvia-in-crisis-again.htmlRahul Deodharhttps://www.blogger.com/profile/13354874480198485819noreply@blogger.comtag:blogger.com,1999:blog-4815867514277794362.post-82357362905051295822009-05-28T05:07:05.270+10:002009-05-28T05:07:05.270+10:00On the relative prices of prositutes: In grad scho...On the relative prices of prositutes: In grad school, we used to call this PPPP (Pussy Purchasing Power Parity)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4815867514277794362.post-38562183670966108582009-05-28T03:06:21.439+10:002009-05-28T03:06:21.439+10:00Give me at least one website where I can verify th...Give me at least one website where I can verify the price (and pictures, phone numbers) myself. Any hotels in convenient areas that have gotten cheaper too?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4815867514277794362.post-82397242318916904402009-05-23T10:22:43.282+10:002009-05-23T10:22:43.282+10:00Mara
Thanks for the comment - and actually I agre...Mara<br /><br />Thanks for the comment - and actually I agree with you. It was absurd that the Latvian government borrowed money essentially to bail out the Swedish banks (and there is thus no more reason to be short Swedbank).<br /><br />A little diplomacy and you could do better than you suggest - partially defaulting...<br /><br />The problems were inflicted by bad policy AND bad Swedish banking.John Hemptonhttps://www.blogger.com/profile/03766274392122783128noreply@blogger.comtag:blogger.com,1999:blog-4815867514277794362.post-88816046907708684092009-05-23T08:57:09.453+10:002009-05-23T08:57:09.453+10:00Being Latvian, this latest article won't improve o...Being Latvian, this latest article won't improve our punchline status one bit...<br />The riots were actually pretty peaceful until the cops got antsy at the end and started getting heavy with some drunk latvian guys (like there aren't LOADS of those on any given day). Then the violence erupted. We're actually pretty mellow folks. But once you've lost your job, food prices increased and you're up for moving back into your parents' one bedroom flat, tensions can, understandably, escalate.<br /><br />The unfathomable part was the government's nodding acceptance to borrow from the IMF to pay for bad private loans given out by mostly swedish banks (for vastly overpriced real estate). Some of the loans were to locals, some other nationalities that wanted 2nd homes in Latvia. My understanding is that most of the mortgages were full recourse, but certainly not guaranteed by the govt. The real options for the govt would be to:<br />1. Allow the banks to repossess and auction the properties regardless of local or external ownership<br />2. Only allow repo on foreign owned properties<br />3. Allow no repossessions and nationalize the properties.<br /><br />Of course, if I were in charge of "financial diplomacy" I would also include doing radical things like joining the SCO, getting off the euro and onto gold or renminbi, but only after I froze assets of the swedish banks and told them to go f*ck themselves for being so stupid in the first place. I would also outlaw mortgages being denominated in foreign currencies and/or payments tied to forex fluctuations, since agreeing to such terms is similar to prostitution, except it costs you, lasts for 15-30 years and does not come with lubricant. Of course, the above sentiment guarantees that I will not be burdened with accepting a nomination for any diplomatic post whatsoever.Maranoreply@blogger.comtag:blogger.com,1999:blog-4815867514277794362.post-14185869709651679022009-05-17T03:55:00.000+10:002009-05-17T03:55:00.000+10:00John,
Thanks for your post. How much time do you ...John,<br /><br />Thanks for your post. How much time do you think Latvia still has before a total collapse?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4815867514277794362.post-81941186345949408472009-05-17T03:53:00.000+10:002009-05-17T03:53:00.000+10:00John,
Thanks for your blog, very interesting. I h...John,<br /><br />Thanks for your blog, very interesting. I have read that the Latvian government already has started closing schools, hospitals etc. to reach a lower budget deficit. However, since the the economy contracts so fast even that is not enough. How much time do you think Latvia has before a total collapse?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4815867514277794362.post-83894381860232000452009-05-16T13:21:00.000+10:002009-05-16T13:21:00.000+10:00I believe it was Michael Pettis (http://mpettis.co...I believe it was Michael Pettis (http://mpettis.com/) who pointed out the US has financed China's leveraged overcapacity by running huge trade deficits.<br /><br />You write the party has to end, and this is true. But, one has to wonder the true extent of the cost to the Chinese in continuing to supress the US dollar, and note their rhetorical efforts to talk it down and reduce the cost.<br /><br />Having lost control of US consumption, what options do the Chinese have? Quite a different situation from Latvia I would say.z... ! ...zhttps://www.blogger.com/profile/15325709502192014870noreply@blogger.comtag:blogger.com,1999:blog-4815867514277794362.post-2346627979284216752009-05-15T04:59:00.000+10:002009-05-15T04:59:00.000+10:00There is one piece missing in your picture. With I...There is one piece missing in your picture. With Irish and British economies now in shambles, Irish and English lads will probably not get any financing for their overseas trips. Good times on borrowed money are coming to an end apparently...Atticusnoreply@blogger.comtag:blogger.com,1999:blog-4815867514277794362.post-3179853844042338152009-05-12T23:10:00.000+10:002009-05-12T23:10:00.000+10:00Geopolitically, a bailout of Iceland was also a ch...Geopolitically, a bailout of Iceland was also a cheap option (the Russians were going to 'buy Iceland' to use it as an airbase, remember?), and that didn't happen.MWnoreply@blogger.comtag:blogger.com,1999:blog-4815867514277794362.post-81001179841149289032009-05-12T22:01:00.000+10:002009-05-12T22:01:00.000+10:00how expensive are hookers in sydney? quite expensi...how expensive are hookers in sydney? quite expensive it seems.<br /><br />as far as i know there were more 'riots' in australia than in east europe so far. holden, vroom, vroom.<br /><br />the baltics had a few snowball fights and all the cubicle analysts fell on their backs. get real.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4815867514277794362.post-43660262942154023312009-05-12T18:34:00.000+10:002009-05-12T18:34:00.000+10:00To Anon - I knew the Bronze soldier riots were abo...To Anon - I knew the Bronze soldier riots were about Russian Estonian relations. They pre-date the crisis - but I admit the post was ambiguous and have changed it to clear this up.John Hemptonhttps://www.blogger.com/profile/03766274392122783128noreply@blogger.comtag:blogger.com,1999:blog-4815867514277794362.post-6526665447434657232009-05-12T17:34:00.000+10:002009-05-12T17:34:00.000+10:00John,
The Bronze Soldier riot in Estonia has not...John, <br /><br />The Bronze Soldier riot in Estonia has nothing to do with the depression riot. The real economic riots are still ahead for Estonia, you can just trust me on that. <br /><br />The Bronze soldier riot was the same thing you would expect if say Australian government burned down some Baptist church in Australia and publicly peed on it. This would hurt lots of Baptists believers feelings and you would have get an Australian riot. Bronze soldier targeted Russian population and the purpose was to divide Estonian and Russian population among the looming economic crisis to force people to ignore economic problems and concentrate on the statue. It was also an attempt to revise the significance of the outcome of the World War II. Again, all this is to shift the attention from the economic problems. This is not quiet the same as depression riot, where people are angry because they are hungry and out of work. <br /><br />Just want to make that remark to improve the perspective of that event. Lithuania and Latvia riots are real depression riots. Again, Estonia's riots are still down the pike.<br /><br />The rest of the story is 100% accurate. I really enjoy reading your blog posts on Baltic Sates. Keep up the good work!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4815867514277794362.post-57375673531844804312009-05-12T16:52:00.000+10:002009-05-12T16:52:00.000+10:00Wow great pick-up
And here was I trying to gauge...Wow great pick-up <br /><br />And here was I trying to gauge the economy by looking up to sales price of white toyota camry's on ebay (looking for an interational homogenious product) <br /><br />RodAnonymousnoreply@blogger.com