Lest I be accused of being a “Dora Downer” for posting all of the economic poo poo, I am posting some links that should put you all in a better mood. If watching these doesn’t cheer you up, have a couple of mojitos and watch them all again.
http://www.youtube.com/watch?v=8m9JrBXi9ag
http://www.youtube.com/watch?v=hGjC0wbUXzk
http://www.youtube.com/watch?v=XhgVIbO83o4
http://www.youtube.com/watch?v=A5GryIDl0qY
http://www.youtube.com/watch?v=npjOSLCR2hE
If you think you have it hard in [...]
A brief indulgence into a big, ugly black hole. From Joan Roelofs via Counterpunch.
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“We in the United States have been endowed with enormous philanthropic foundations, which have been fixing up the world for the last 100 years. One might wonder how their activities relate to the [...]
Full story here. From Henry CK Liu at Asia Times.
“The conventional terms of inflation and deflation are no longer adequate for describing the overall monetary effect of excess liquidity recently released by the US Federal Reserve, the nation’s central bank, to deal with the year-long credit crunch.
This is because the approach adopted by the [...]
Transcript of the interview with C-SPAN here. Obama flat out says the US is out of money. An unusual bit of candor for a sitting president–and only 4 months into his term. You can read the rest at the link. I was outraged enough by the below quote–which will probably get ZERO airplay on a [...]
Full story here. Economist Nouriel Roubini’s op-ed piece from the NYTimes.
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“…Traditionally, empires that hold the global reserve currency are also net foreign creditors and net lenders. The British Empire declined — and the pound lost its status as the [...]
Found here at the Stanford Law Review. Don’t have Charlie to whisper good advice in your ear? Go to ShadowTraders and get trading to prosperity.
“…So on a scale of 1 to 10, how big a mistake was it that
they let Lehman Brothers go?
I don’t think that was a mistake. You can’t save everybody.
That would have [...]
If Goldman gets its hand slapped for $60mm over 714 mortgages what does this mean for Countrywide Financial? They were very big in Boston. Merrill Lynch was at the top of those securitization tables. That is what got Stan O’Neal fired. If the settlement in Boston is representative of what will be forthcoming then Bank of America is going to be facing a very big number. And that is just Massachusetts. The AGs in the all of the other states, especially Florida, Nevada, Arizona and California must be licking their chops at this news.
Although major reserve banks are injecting trillions in fake money, they have no ability to inject even one barrel of oil or a pound of rice. Hence, their money printing is pure taxation, pure wealth redistribution, with the inevitable inflationary result.
Full story here. From economist Henry CK Liu at Asia Times. This is part 3 of a series of articles on the bandaids being applied to the iceberg sized hole in our economy.
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“The stress test for banks in the United States in April, with the results released this month, was [...]
Full story here. Well, not me exactly, though I can agree with many of the points. This is from Yves Smith and Gonzalo Lira at NakedCapitalism.com. I think it makes the point nicely why this isn’t a usual recession. Go to ShadowTraders and avoid the whole recession thing.
“This post is from reader Gonzalo Lira. Although [...]