So we now have an official demonstration of what we all knew to be true: banksters giving their right to loot their companies top priority, and the greater fool public be damned, with Goldman the most egregious sinner. That firm’s self serving protestations to the contrary, it was a ward of the state, and would […]
Read more...If the sky-high prices relative to income aren’t enough to convince you, consider this discussion from Patrick Chovanec (hat tip reader Michael) who contends that China’s latest effort to contain housing prices, the reinstitution of a property sales tax, is likely to be counterproductive: In China, however, “flipping” is not the problem. Some people may […]
Read more...The Asteroid That Will Almost Hit Earth Wired (hat tip reader John D) World must prepare for climate migration, IOM warns Raw Story (hat tip reader John D). They are a little late, military experts were worrying about this (more important, the resulting conflicts) two years ago, if not earlier. Mercer’s Little Alaska Problem Gretchen […]
Read more...Reader Walter passed along this distressing sighting from Chris Floyd’s blog. American civil liberties were gutted last week, and the media failed to take note of it. The development? If the president or one of his subordinates declares someone to be an “enemy combatant” (the 21st century version of “enemy of the state”) he is […]
Read more...An op-ed in the Sunday New York Times by former investigators and prosecutors Eliot Spitzer, Frank Parnoy, and William Black calls for AIG to put non-privileged e-mails, accounting documents, and financial models on line to allow for an “open source” investigation. The questions they want to examine include: As fraud investigators, we would like to […]
Read more...Fannie’s Christmas Present – A Delayed Repo Bruce Krasting John Mack Again Skips His Bonus Wall Street Journal Less than Mets the Eye Michael Panzner Are TBTF Banks Out of Danger? The Market Doesn’t Think So Angry Bear Non-Binding Deal Reached At Copenhagen. Friends of the Earth Says “Climate Negotiations In Copenhagen Have Yielded A […]
Read more...The UK is providing a lesson the US badly needs to learn, that push comes to shove, regulators hold the whip, and have to be willing to use it when necessary. Given how intransigent the financial services industry has become, the time for discipline has come. Maybe some of them even want it secretly…. In […]
Read more...The party line is that Ben Bernanke’s confirmation for a second term as Fed chief is a shoe-in, although he might face an unseemly amount of roughing up, like having to step down briefly if the senators who plan to put a hold on his vote succeed in delaying it beyond the end of January. […]
Read more...A nice overview of the arguments for and against Keynes (as well as for and against white people doing rap). Hat tip Bill Conerly:
Read more...Edward Harrison here. Here is a video clip of mark Thoma talking about the Federal Reserve Chairman’s chances of re-appointment. He says time is not on Chairman Bernanke’s side. If you saw the Ron Paul video at Credit Writedowns yesterday, you could see what’s happening. I don’t have a strong view, although I believe most […]
Read more...Saving Earth From an Asteroid Will Take Diplomats, Not Heroes Wired Archaeologists Claim They’ve Found Lost City Of Atlantis Huffington Post (hat tip reader John D) For suicidal Japanese, help is finally at hand Associated Press (hat tip reader Nick) Arise, Web Users! The Big Money Study Shows High Fructose Corn Syrup May Cause Obesity, […]
Read more...The latest WSJ/NBC News poll shows that President Obama’s approval rating has now slipped under 50%. This makes his the steepest first year decline in modern history. Why? You know what I would say: Obama doesn’t know when to be an asshole Obama wasted political capital on bank bailouts See what Aaron Task and Henry […]
Read more...By Edward Harrison of Credit Writedowns. This is a modified version of an article I posted yesterday at the Big Picture based on two recent articles I wrote on currency news in the Baltics and the Middle East. The question I ask is this: now that finance is global and capital can move in and […]
Read more...Dear readers, apologies for the thin posting today. It might be a bit thin this evening too, I am traveling tomorrow and have much to wrap up before I head out. So I will at least give you a more elaborate than usual Antidote as an effort to compensate. This is thanks to reader Barbara: […]
Read more...This blog will be three years old on December 19. Thanks to all you readers for making it possible! Readers have often and generously asked about a tip jar. If you have enjoyed this blog, I hope you will consider making a wee contribution. Inquiring minds might wonder why it has taken so long to […]
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