Interview with Max Keiser on 8/20/10. Yeah, that voice is not sexy but chances are he’s right in a big way. Better safe than sorry.
Posts Tagged ‘scam’
A Major Inflection Point is Upon Us
I have not commented on the financial markets in a detailed way for quite some time now. This is not because I do not have strong opinions on them, rather it is because I see the current ongoing crisis as just as much a political and social crisis as an economic one and so I am compelled to address those concerns as I think it is in that arena that the greatest dangers exist. Additionally, the major macro investment themes that I outlined well over a year ago remain the same. (more…)
Full story here.
…Additionally it appears that we now have “financial reform” via the “Dodd-Frank” bill. I personally do not think this accomplishes anything for the economy – it consolidates power in the wrong hands while failing to address current debt levels, derivatives, and the GSEs. The market does not appear to know how to digest it – there are many discretionary powers and delayed timelines so it is difficult, if not impossible, to know all the ramifications in advance. I was recently interviewed by a European publication regarding this bill, below are their questions and my responses:
Full story here from Webster Tarpley.
The Obama-Dodd-Frank financial regulation bill, a miserable excuse for real Wall Street reform, is now about to gain final approval in the Senate. This wretched bill is now supported by the New England liberal (meaning Wall Street) Republican clique including Olympia Snow, Susan Collins, and Scott Brown, who are joined by the notoriously corrupt reactionary Democrat, Ben Nelson of Nebraska. This bill will create a multitude of new regulations and a number of large new bureaucracies, but it is utterly devoid of any bright-line prohibitions against the causes of the financial panic which struck the United States in 2008, and which continues to the present day in the form of a world economic depression. (more…)
Full story here from ZeroHedge.
Sometimes, when chasing the bouncing ball of fraud and corruption on a daily basis, it is easy to lose sight of the forest for the millions of trees (all of which have a 150% LTV fourth-lien on them, underwritten by Goldman Sachs, which is short the shrubbery tranche). Luckily, Charles Hugh Smith, of oftwominds.com has taken the time to put it all into such simple and compelling terms, even corrupt North Carolina congressmen will not have the chance to plead stupidity after reading this. (more…)
Full story here from Business Insider. Once again, threats to blow up the market unless bankers get another 100 truckloads of cash. Of course, the Patty Hearst president will be pointing an AK-47 at thee and me. Long live the Bankster Revolution!
In the process of slamming Scott Brown, Rep. Paul Kanjorski (D-PA) just issued that stark warning on CNBC, saying today triple digit loss in the Dow will be nothing if we don’t pass The Dodd Frank Act.
He also announced that in all likelihood, due to Scott Brown’s objection to the $19 billion fee, the House and Senate will likely re-open the conference committee, and find some way to pay for the bill without assessing something that looks like a tax.
Full story here from Clusterfuck Nation (no, I’m not kidding). Bad words and finance just go together. Bonus word for the day: Anosognosia: Social anosognosia is when a group of people, perhaps even society at large, devolve into a state of destructive cluelessness.
I think America missed something. It must be the time of year, what with inhaling all those fumes from the charcoal starter… and fueling up the Jet-skis so as to turn a perfectly good mountain lake into something like a Cuisinart on the guacamole setting… and the rousing evenings in the Nascar parking lots hitting palmetto bugs with your wiffle bat… (more…)
Full story here.
By Dylan Ratigan
They Keep Stealing – Why Keep Paying?
The dire straits of the middle class of America has made it near impossible for our politicians to keep up the pretense that our current government truly works for the “people.” Between the multiple overt and secretive bailouts, the massive bonuses and the circular use of our tax money to lobby for these continued handouts, you can no longer hide from the evidence.
Geological anomalies are like opinions: Everybody has one
There’s a great deal of chatter in the press and online about the tremendous US$1-trillion-dollar mineral “discovery” in Afghanistan headlined by The New York Times recently. Most of the discussion seems to centre on whether or not this is really news and whether or not the NYT was played by the powers that be for purposes of their own. Few, if any, people seem to be questioning the value of the so-called discovery itself. The US$1-trillion-dollar figure, at best, cannot be anything more than the wildest of hopeful guesses.
One does not have to be a geologist or an engineer to understand why. When geologists find outcropping mineralization, or other signs that an economic deposit of minerals may be present, that is not called a discovery. Even if the signs come from the latest scientific equipment flown over the country, as the U.S. government appears to have used, the result is still just an anomaly: a hopeful indication of where to look. And anomalies are like opinions: Everybody has one. (more…)
Full story here from Exiled Online.
Wall Street bankers and retired hedge fund billionaires have been talking about fiscal responsibility and deficit reduction, preparing the masses for austerity measures and cuts in social services—which we are told are regrettable, of course, but necessary nonetheless. Well, here is the perfect welfare program for the bailout queens to show off their fiscally conservative chops: Let’s see them cut federal farm subsidies, which funnel billions of dollars to the richest Americans, including notables like Ted Turner, David Letterman, Scottie Pippen, Paris Hilton’s grandpa, Charles Schwab, Microsoft billionaire Paul Allen and just about every single one of Sam Walton’s degenerate heirs. (more…)