the economy still tanking . on wednesday echanomics said something intriguing employment depends on consumer spending. yes it works the other way around too but when the economy is dropping youve got to get consumers who still have jobs to increase spending which then in turn leads to higher employment i.e. employment is a lagging indicator.......... [Show More]
did you see that coming what a train wreck of an end we had yesterday in the states. things started off well enough with gains in asian trading. the europeans were a bit jittier but it was within the bounds of reason. new york that was whole different ball game.the first story about people pulling their money out of stock and bond funds is a tad worrying. and if thats not bad enough mexico i... [Show More]
with a big hat tip to calculated risk here is who is going to save us from the purported impending disaster.
here is the link to calculated risk which has a fun picture of paulson and his designated chief for the administration of tarp neel kashkari.
if you dont see their link to the story on mr. kashkari here it iscnbc. i was originally taken aback that a man as young as kashkari was given this j... [Show More]
finally
we continue to see the wreckage caused by greenspans noregulations cheap money extreme rightwing ayn rand philosophy. i remember being at a client a precious metals dealer during the peak of his regime and being baffled at why the traders treated his deliberately indecipherable pronouncements with such awe. he was then and remains an extremist charlatan who believes greed is good and the c... [Show More]
the big news today is that henry paulson claims to have found in the 700 billion tarp package passed last friday the power to invest some of that money directly in banks to shore up their capital. as one of the people who actually read the bill ok i skimmed most of it i was puzzled by this because my reading like everyone elses was that treasury would only be allowed to take equity stakes in compa... [Show More]
from the ny times u.s. may take ownership stake in banks
having tried without success to unlock frozen credit markets the treasury department is considering taking ownership stakes in many united states banks to try to restore confidence in the financial system
treasury officials say the justpassed 700 billion bailout bill gives them the authority to inject cash directly into banks that request i... [Show More]
only in america folks Post Source: feeds.feedburner.com Posted: Oct 08 2008 21:52:46
from the comments section at calculated risk comes this summary regarding the feds expansion of lending to aig
wait.. it goes like this
1. aig makes bad investments
2. company execs make millions
3. stock gets wiped out
4. company gets wiped out
5. billions lost
6. company and execs get 85 billion bailout
7. execs and sales force go on 400000 weekend retreat
8. congress cries outrage
9. we give th... [Show More]
for an illuminating snapshot of the progress being made in our long national real estate nightmare check out this post at the indispensable calculated risk blog....... [Show More]
of course obama won the debate. heres the part you wont believe id say that even if i were still an independent voter because it was so obvious. mccain looked angry tired angry achy angry and old. olbermann mentioned the get off my lawn demographic he seemed to be speaking to and that was it. hes the grumpy guy in the neighborhood who came back from the army with a plate in his head. all obama ha... [Show More]
handle bank Post Source: feeds.feedburner.com Posted: Oct 08 2008 09:20:49
et sikkert tegn pa at regjeringene rundt i verden er i panikkmodus er at alle redningspakker og lignende na opererer med helt runde summer. sannsynligheten for at det som trengs i finansmarkedet nayaktig maler seg ut til en rund sum er temmelig marginal. runde summer er derfor tatt ut av ingenting med det hap at selve starrelsen pa belapene skal fa bankene til a stole pa hverandre.
i dag er det br... [Show More]
ive probably mentioned before my admiration for the great financial blog calculated risk. theyve done a terrific job of publicizing and quantifying the doom.
there was a funny editorial cartoon referring to it drawn by eric g. lewis a freelance cartoonist living in orange county ca.
you need to know that calculated risk is written by two people a man a retiredand anonymousexecutive of a publi... [Show More]
the rally that wasnt
jim cramer called the end of days. hes widely considered such a dope that whenever he says something peoples first reaction is to fade his advice.
the federal reserve is now letting nonfinancial enterprises step up to the trough. i give credit where credit is due around here nouriel roubini called this one last week on the riskmetrics webcast.
more credit henry blodget and... [Show More]
tim duy says the fed may not cut the target interest rate at its next rate setting meeting
where is the rate cut by tim duy on the surface the case for a
rate cut seems obvious. but despite an extraordinary and historic two weeks on
wall street bernanke co. have failed to deliver. and perhaps the lack of
action today a day of panic in global equity markets is telling us something
about policy... [Show More]
calculated risk provides commentary and this pretty graph showing the housing bubble in terms of how much equity homeowners took out both in dollars and as a percentage of income
spectacula rly the second quarter of 2008 saw almost zero equity extracted by homeowners .
whatever else zero means it means that the money left as equity will not be spent between now and the end of the calendar y... [Show More]
alex blumberg a producer for this american life who along with adam davidson reported and produced the giant pool of money has advice for how to produce indepth stories on big issues often glossed over by the mainstream media.
the giant pool of money produced in may 2008 is a fantastic piece of radio journalism that puts the financial crisis into terms we can all understand. here is their most rec... [Show More]
martial law Post Source: optionarmageddon.ml-implode.com Posted: Oct 06 2008 13:02:39
an interesting video hat tip patrick.
as i wrote previously some very scary scenarios are being kicked around capitol hill.a paulson and bernanke know whats at stake if the financial crisis devolves into nationwide bank runs.a they shared those feelings during a meeting two thursdays ago
senator chris dodda congressional leaders were told that were literally maybe days away from a complete meltdo... [Show More]
dotof to calculated risk. it is most entertaining to listen to the shrill shill squeak and squeal like ned beatty in deliverance innitp.s. for a laugh drop by my blog have a great day at least once daily....... [Show More]
the persistence of hope Post Source: justabovesunset.wordpress.com Posted: Oct 06 2008 05:17:45
they say you can live without most everything except hope. of course thats nonsense oxygen is quite useful for example. and theres food water and shelter. but that isnt the idea. without hope that things will work out somehow you end up in existential despair as langston hughes noted in that famous poem about dreams deferred you shrivel up or you explode. sure you can live without hope but thats... [Show More]
acronym update eesa Post Source: matrix.millersamuel.com Posted: Oct 06 2008 04:01:05
the impact of the bailout law known as eesa emergency economic stabilization act voted into law by the house on friday is not known.
i was listening to the big money podcast while i was getting ready for work one more morning recently and heard dan gross describe his step by step reaction to the bailout bill as events unfolded
omg
lol
w tf
bs
i burst out laughing and cut myself shaving. ... [Show More]
trash out Post Source: www.michaelalanmiller.com Posted: Oct 03 2008 23:02:53
when i find good journalism its revelatory theres just so little of it.
heres some about the vast number of foreclouses in californias inland empire.
amazing story. really puts a human side to all the stats and figures bandied about everywhere....... [Show More]
the irony of the bailout according to webbased reports the house has passed the bailout bill 263 to 171.
to think the saving grace of the worlds greatest financial power came down to wooden arrows and rum.
the...... [Show More]
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