House of Paine

meet ..jimmy pak

"just a huge amount of hot hot money 
sloshing around looking for 
      a distant risky place to go"
  
  yesterday
i read this in the wsj 
and i hit the bat phone buttons 
immediately 

 here's the guy on the other end
of the bat phone these dayz

here's the guy 
               in the know

     hot money wise 

   enter the dragon.....

                  jimmy pak 


========================================




now he's out from under
 the DPRK  disinfo trance ...
of two summers ago

he's  Ruined
 and without 
a professional platform

living on jacks and queens
and 
wandering the  eco blogs 
under a welter of assumed names 
lookin for
" a little  zorro type respect"  

when i EEEEed him
it was good timing 
 
he replied
 
"come on board 
  post with u ???

 why the fuck  not

sure pink
  ....long as eve's on deck ..."


so 
  purch and churp   here a while 
                           he will 

  a major global hi fi  fried brain 

right here at our  house

 a  last resort
  made up special
      for  wing clipped  redbreasts 
                        like herr pak 


========================================

  pink:

  here goes ....



" hot money melt down"

nice words to open any
lopsided  conversation 

remember  '97 

that was my baptism

  and so  naturally
  i wonder when that nova express
                   will again come  racing down
                                         on   me 

well maybe soon 
thats what 
my itchy  dark spot
tells me 
today 

tomorrow
i may itch another spot

but today anyway....

  here's   my report from the field ....


 the hot money is floodin
          out to  the farthest boob markets on earth 

and floodin out 
                  in  record numbers 

i hate numbers really what clutter they make 


its nurdy and  non oracular
to spout em
like talkin with your mouth full of corn 

but here's one :
  
Turkey's stock market 

     up 50 percent in the last 10 months 

sez it all 

   literally and allegorically 

 the debt side ???

   emerging bonds ????

   try yelling yikes 
              

fuck if 
 they're  not  hotter then 
                    a house full
                         of  cambodian whores 
           then hell hath no faucets 

   and 
   the  north country john's 


the mad  monks
are ridin'
their risk  premiums
 down 
     planck scale 
                     
 as in:

 yield  spreads
 between  U.S. Treasuries
and   emerging bonds


( note:till recently 
 they  swang  on average 
       back and forth
             between
                 4 % and  10  %)

today  try  2.3  %

a record that
           sounds  like magic kingdom time 

  magic 

magic 
in a world where magic 
                    is a trick 
    
   a trick  performed  by idiots 
   to fool idiots 
     until in the  end 
  the fools are just  
          foolin themselves  

  -----------------------------------------------------

"  Even  refrigerators  Fly 
                         in a cyclone  hoss  " 
 
                               yup the asset markets
                                    are doin  magic 

---------------------------------------------

 sum up 

 capital flowing into emerging markets
             all-time high
 
--  $345 billion  so far this year -------------

  previous record 


-------- $323 billion -------------


-------- set when ?

             in .........1996 -------------

                what comes next ???

                    97 II


    when    it all flows back out
                  ten times as fast 
                                   and then some                    


--------------------------------------
  my dark spot itches 

when  i see
   the worlds longest
straw shed  Indonesia 
 selling 
 $900 million in 10-year bonds 
        at
 7.625 percent,
 and $600 million in 30-year bonds 
                   at 
                  8.625 percent

          what's up  next doc ????

whats up next is ...down  




 ah but what do i know

   i run spooky 

there's still sunny siders

just   shop around
and you'll hear

" oh  come on 
      these places are much better built now....

                                         financial wise "

                  really ????

regular brick shit houses eh?

equador ??

     java ???


i won't mention...the words hedge funds here
not near 
     ignorance and perdition anyway 

                        get all them   too close together
more then once 

     boing 

remember what happpened to faust 
             when he conjured what
                           he shouldn't have
 
nor 

will i 

homilize 

beyond fortune cookie shit like


" ever higher return 
    is  crsytal  stair case 
            to crashing glass "

or 

" whatever  the risk taken 
if it's taken in  mania 
                          it  only ends 
                   where   whatever the  risk  taken is
                                          its too much to take "

that second one i found in a bagel actually 

but but but 

it ain't all the capital exporters fault 

on the otherside

 i see some old  school fool tricks

like 
 short-term overseas dollar deposit accounts
               funding  
             emerging market where  trade deficits 
                       are  widening
                           well  beyond  expectations 


this is  the very  heartland
 of hot money melt down country 
like kansas for tornados 

 as in 

" the fucker's one day
  will just up and  flee 
   at a moment's notice"

and then won't the wolf come by 
         and  huff and puff
       and blow the place down 

Worries  worries worries 

and to think
all for spec and splash 

    not any of it gets the world's toil
                            more mechanized