Mon, 14 December 2015
John writes, "For a while there, companies deemed to be highly risky were nonetheless able to borrow money for less than 6%. And borrow they did. Frackers, ultra-high-leverage retail chains and various other close-to-the-edge entities slurped up trillions from yield-starved investors who had forgotten about the other side of the risk/return equation. That this hasn’t worked out so well is not much of a surprise. But the speed with which it has gone bad is still breathtaking. The following chart from Bloomberg illustrates just how fast an illogical market can be brought back to reality."
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Mon, 14 December 2015
Took the on-off bus ride. Lots of fun and gave me a great perspective on the near universal ruin the dots the hillsides. Saw the expropriated Havana Hilton. It had the best wifi connection in the City that I encountered. The bicitaxi I road back to the apartment on crashed while I was in it. Got a nice bump on my head. Where do I sue?
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Mon, 14 December 2015
I went on a breathtaking tour of Havana, personally observing Communism's staggering legacy. The monuments to the Revolution are amusing and quite quaint. Now the people want change and they want freedom. Cellphones are prevalent but no wifi for you! Wonderful people with great attitudes. They are happy to see Americans. Havana's charm is incredible, despite the horrid conditions. And a great cigar factory tour, the workers rob the place blind! Viva la revolution!
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