Category Archives: Dubious statistics

Ilargi: Everything’s Fine In A Parallel Universe

Last week, I was reading parts of a report issued by Japanese investment bank Nomura, which started out saying that the “Global Financial Crisis” is over. If I lay out a statement like that side by side with a lot of other things I see, I can only conclude that Nomura doesn’t reside in the same universe I do.

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Yanis Varoufakis: What Europeans Should Know About the Current Situation in Greece

Yves here. In an interview with Edward Geelhoed, Varoufakis gives an urgent, sobering picture of the conditions in Greece, which contrasts dramatically with the claims made by Eurozone politicians.

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The European Balanced Budget Disaster

In the immediate aftermath of the financial crisis, most European governments allowed the automatic stabilisers to kick in and implemented some mild discretionary measures, despite the strictures of the Stability and Growth Pact (SGP). But it was not long before the siren calls for “fiscal consolidation” arose…

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David Dayen: IRS Confirms that $12 Billion in “Mortgage Relief” in National Mortgage Settlement Completely Worthless

The IRS settles something I noticed a while ago and has now been finally confirmed. In short: big banks who robbed homes from Americans got a penalty that entailed, quite literally, giving homeowners worthless allowances.

The issue concerns the Mortgage Forgiveness Debt Relief Act, which expires at the end of the year. After December 31, all mortgage relief that involves debt forgiveness of any kind will be taxable to the borrower. This affects principal reductions, of course, but also short sales, with the idea being that this involves the bank “forgiving” the difference between the total owed on the mortgage and the price of the short sale. There are hardships exemptions to this but they involve the functional equivalent of bankruptcy – you have to prove that your total liabilities exceed your total assets.

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ObamaCare Rollout: Administration PR Tactics and the First Release of Enrollment Numbers

The “enrollment” numbers for the Healthcare.gov website, even using the Administration’s Orwellian definition of “enrolled” was barely above half of the scary bad number published as a rumor by the Wall Street Journal earlier this week.. Generous application of porcine maquillage followed.

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Reps. Alan Grayson and John Conyers Call for End to Bank Welfare, Tough Rules on Bank Capital

Congressmen Alan Grayson and John Conyers have published a well-thought-out proposal on bank equity, with the objective of assuring that when banks do stupid things (which they do with great regularity, even before the era of casino banking, they’d embrace some new fad and run off the cliff together, like lemmings), they have enough capital to absorb losses. And that means a lot more capital than regulators are demanding they have now.

So I urge you to co-sign their letter (full text below) at http://nobankwelfare.com/.

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Harvard Business School’s Garbage In, Garbage Out “Gender Equity” Experiment

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Readers may have taken note of a long article by Jodi Kantor in the Sunday New York Times magazine celebrating an experiment on the Harvard Business School graduating class of 2013.

The project was deemed a winner. More women students than ever graduated with academic honors. Student satisfaction levels also rose. Unfortunately, if you dig deeper, this “experiment” looks like a “garbage in, garbage out” exercise.

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