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Gradually It's Getting Clearer What All the Mirth Is About
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Asian analysts seem to have
reached consensus that the above picture definitely dates from July and not May
of this year. Debate still continues
whether the date of the photo is 12 July, 16 July, or 17 July.
Did you
ever wonder how the dealmeisters are able to have a “fantastic” record of
successful negotiations?
Side comment:
“fantastic” in the previous sentence is used in the first two senses of
this definition.
AA has for some time. Just recently his
eyes were opened when America’s #1 DealMeister successfully negotiated a
comprehensive precedent-shattering agreement with the formerly bad leader of
the formerly bad Democratic Peoples’ Republic of Korea.
Uniformed critics and other purveyors of
“fake news” criticized the agreement as lacking real detail and
commitment. With what appeared recently to
be push back by the North Koreans, these critics were emboldened further
stating that “Kim will never give up his nukes”.
In a masterstroke that saved the deal and
no doubt silenced critics, according to press
reports, the US President announced to what was no doubt an appreciative
and rapt audience:
“We have no time limit. We have no speed limit,” Trump said at a meeting with members of Congress on Tuesday.”
Appreciate the pure genius
of this.
Strike a deal that doesn’t
contain specific required actions but merely states some platitudes. Then have no deadline for implementation. It’s hard to imagine even a serial breaker
of previous deals, like the DPRK, walking away from a deal like this.
Please no snide comments that a deal
without specific performance or time frame isn’t a contract.
You may be wondering why an ostensibly
financial blog like SAM is commenting on a political agreement. Well, the simple answer is that this
principle could be applied to finance.
Worried about Abraaj or some other duff borrower repaying a loan to you? Buy their zero coupon perpetual bond. You’ll sleep as sound as the folks in South
Korea or Japan do these days after the NK nuclear threat was eliminated!
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