Exuberance? Euphoria? Hardly . . . | The Big Picture
“While I keep hearing some people claim there is an excess of giddiness, please excuse me for failing to see it. My frame of reference is the 1999-2000 top, and I certainly do not see anything remotely resembling that sort of sentiment. We cannot say it even resembles the 2007 top.
Remember the Dow 10,000 hats on CNBC? The insane expense accounts, lavish spending? The forecasts of Dow 36,000? In 1999, the nonstop media coverage of markets resembled a home team making it to the Superbowl or World Series. Stocks had become the hottest sport there was. You could not attend a cocktail party or BBQ without the conversation turning to tech names doubling and tripling.”
NanoInk, Inc. Bankruptcy
Creditor meeting on May 29th. How interesting.
“Trustee has elected to liquidate the assets of the company in the following lots:
Photomask Repair Assets
Balance of Dip Pen Nanolithography Technology Assets which assets include the “Nano Professor”, “Nano Fabrication” and “Nano Biodiscovery” businesses.
Assets located in Campbell, California”
China Refuses to Confirm Okinawa Island Belongs to Japanese – Bloomberg
Things are heating up in the Pacific.
“China refused to confirm that Okinawa belongs to Japan after two Chinese scholars suggested re-examining the ownership of the archipelago that includes the island, adding to tensions over a separate territorial dispute.”
China refused to confirm that Okinawa belongs to Japan | http://t.co/8DK4WKuNUE
What Obama Gets and Neocons and Liberal Hawks Don't | Stephen M. Walt
“I have my doubts about the net benefits of the drone war and targeted assassination program, but the rest of Obama’s approach makes eminently good sense to me. Indeed, I wish he could give one of his trademark speeches explaining this logic to the American people. He probably can’t, alas, because this sort of realism cuts against the rhetoric of “global leadership” that has been part of the Establishment echo-chamber for decades, not to mention the self-conceit of American exceptionalists. So Obama will continue to sound like his predecessors when he talks about America’s global role; he just won’t do most of the foolish things that most of them would have. Good for him, and for us.”
Stephen Walt has finally figured out the Obama doctrine: The president is a “buck-passer” http://t.co/IClHKxF5iN
Russia's New Tip of the Spear – By Dmitri Trenin | Foreign Policy
“Looking forward, however, it is hard to expect a country of Russia’s size and geographical position to not have a capable military force adequate to the current military environment. With the drawdown of Western military involvement in Afghanistan and, more broadly, the Middle East, regional powers in Eurasia, including Russia, will have to bear more responsibility for security and stability there. This responsibility will be an empty phrase if not backed by relevant means, of which RUSSOCOM could be one — if Moscow follows through on its stated intentions. Right now, Russia has only 3,000 Army troops in Tajikistan and another few hundred at an airbase in Kyrgyzstan. A further 6,000, based inside Russia, are earmarked for deployment in Central Asia. For Mr. Putin and Gen. Gerasimov, this is clearly not enough. ”
What’s got the Kremlin so worried that it created a Special Operations Command? http://t.co/nZVmTp9AOn
Hedge Funds Rush Into Debt Trading With $108 Billion – Bloomberg
Here is another sign of complacency “Hedge funds using debt-trading strategies honed on Wall Street are expanding at a record pace as they profit from risks big banks are no longer taking.”
Warren Buffett: Stocks Will Go a ‘Lot Higher’ – Yahoo! Finance
“Even as stock indexes hit all-time highs, Warren Buffett predicts they’ll go “far higher” in the long run.
In a live appearance on CNBC’s Squawk Box, Buffett told Becky Quick, “You’ll see numbers a lot higher than this in your lifetime.”
Acknowledging that milestones like Dow 15,000 can draw Main Street’s attention to stocks, Buffett said people should pay more attention when indexes cross those milestones on the way down because that’s when stocks are “cheaper” and more attractive to buy.”
Posted from Diigo. The rest of my favorite links are here.