Epstein Secrets

in the dollar's trade basket, this would be close to impossible to achieve via such a bilateral accord. Casualties of the Currency Wars (other than Southern Europe) The first one is us. We did not anticipate the recent strength of the Euro vs the US dollar; since the summer, the Fed and the ECB have adopted op

since 2001 remains uninvested. We're watching for opportunities in transportation, infrastructure and consumer goods in case the landscape changes. Michael Cembalest Chief Investment Officer [a] Bemanlce wrote in 1999 about the "self-induced paralysis" of the Japanese, and how Roosevelt's best contributions in

t ratios above 80%. And of course, if the current strategy doesn't work, the EU will simply have made the problem bigger for the ECB and EU banks. Southern Europe needs capital to finance both budget deficits and trade deficits. Private sector capital is going to need a reason to come back, and absent a much w

rn to the mundane topic of investments. Next week, a detailed look at opportunistic US commercial real estate investing in the current environment. Michael Cembalest Chief Investment Officer 1991 1994 1997 2000 2003 2006 2009 1985 1988 Source: European Commission. Postscript: As a reminder, the Institute o

might ask: How are Earth's commercial enterprises valued right now, and how is capitalism doing? Why on Earth is everyone talking about Spain when Southern Europe is only 6% of Earth's GDP? Where is Earth on the timeline of equity valuations over the last century? But first, I tried to imagine what an alien m

over the last century? But first, I tried to imagine what an alien might notice about what's happening to the oldest inhabited territory on Earth. Michael Cembalest This email is confidential and subject to important disclaimers and conditions including on offers for the purchase or sale of securities, accuracy

f total expenses, and is dwarfed by labor costs. Michael Cembalest J.P. Morgan Asset Management ' Proposed changes affec

“run-of-the-mill” terrible instead of “look-out-for-that-bank/country- it’s-about-to-default” terrible. What is impossible to assess: the ability of Southern Europe to withstand rising social and political pressures of massive unemployment. Also: watch out for France, where there is a large, growing economic gap