Monthly Archives: June 2009

Guest Post: From Golden Cross to Golden Goose?

Submitted by Leo Kolivakis, publisher of Pension Pulse. My favorite strategist, Martin Roberge of Dundee Securities, sets the record straight on the Golden Cross in his latest strategy comment: Much has been said about the positive implications of this week’s Golden Cross (GC) on the S&P 500. However, little emphasis has been put on downside […]

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Links 6/27/09

Apologies for the absence of a substantive post, Still a bit off sync, and having to write about ergodicity, which is enough to put any mere mortal on refry. I hope to do a real post later today. Monkeys fall for visual illusion BBC Anti-Abuse Bus Stop Ad Only Batters Women When Nobody’s Looking Gizmodo […]

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China Again Throws Weight Against Dollar as Reserve Currency, Calls for IMF Solution

The optimists that have long assumed that the dollar will continue to reign supreme due to lack of alternatives have just have their sanguine views challenged as China threw down the gauntlet on coming up with an alternative, non-country-specific, reserve currency. The US in fact had this option at the time of Bretton Woods and […]

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Links 6/26/09

Apologies for being a bit lean on posts tonight. Blogger and some other sites were inaccessible for about two hours, which I think was a Michael Jackson effect, Internet wide overload due to people reading news and viewing his music videos. I was very taken with his performances, particularly the dance routines, and thought his […]

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Will America’s Besieged Middle Class Snap?

A paradox arises to the extent that it is true that the market is dependent on normative underpinning (to provide the pre-contractural foundations such as trust, cooperation, and honesty) which all contractural relations require: The more people accept the neoclasical paradigm as a guide for their behavior, the more the ability to sustain a market […]

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Guest Post: Feudal Age of Pensions?

Submitted by Leo Kolivakis, publisher of Pension Pulse. More on pensions apartheid. Bill Tufts of Fair Pensions for All sent me this Globe and Mail blog entry, In feudal age of pensions, renaissance must come: He calls it our “Modern Feudal System.” A system where a few have a lot and the majority have – […]

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Initial Jobless Claims Rise Unexpectedly by 15,000

Consensus forecasts had expected a modest fall in initial unemployment claims this week; instead they increased by 15,000. Similarly, continuing claims rose by 29,000. Bloomberg still tried to put a happy face on this not-aligned-green-shoots story. This was the third and longest paragraph of a mere four paragraph report: Recent economic data shows some areas […]

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Links 6/25/09

Swine flu puts porpoise on brink BBC 15 Year Old Invents Algae-Powered Energy System Inhabitat Planted Questions Katia Bachko Columbia Journalism Review Old School Banker Independent Accountant MTA Sells Subway Station Names Cryptogon (hat tip reader Skippy). You cannot make this stuff up. Obama and ‘Regulatory Capture’ Thomas Frank, Wall Street Journal World’s wealthy lose […]

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Guest Post: Pensions Apartheid?

Submitted by Leo Kolivakis, publisher of Pension Pulse. Let me begin by wishing all Quebecers “une bonne Fête nationale”. I hope you enjoyed St-Jean Baptiste celebrations on this glorious sunny day in Quebec. In my last post, I discussed the global pension crisis and how it might lead to a long social crisis. Today I […]

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Banks Rescue Credit Card Trusts, Yet Keep Them Off Balance Sheet

America as banana republic is alive and well. Tonight’s version is that anything that helps banks is permitted, official rules to the contrary. Banks enjoyed lots of fun and profit from setting up various off balance sheet vehicles that are now coming a cropper. We saw the preview of this movie with structured investment vehicles, […]

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