His name is Jerome Kerviel. He was a trader at Societe Generale, a French bank which did speculative trading as its main business along with some conventional banking. The bank says Kerviel made bets of up to euro50 billion – more than the bank’s total market value – on futures contracts on three European equity […]
POMO stands for permanent open market operations by the US federal Reserve Board. With a POMO, the Fed buys the US Treasury debt and pumps liquidity into the system. The idea is that the money freed-up from holding US Government bonds will be put into use in boosting the spending and thereby the economy. In […]
Not a day goes by without some self-proclaimed ‘conservative’ telling us how great President Regan was. Reagan was supposed to be for lower taxes and smaller government. Even before the advent of Fix news, this myth got its legs. What is the actual story about Reagan’s spending under Reagan’s presidency? This CNN article sheds some […]
Boston Globe features a photo essay (The Big Picture) on a number of huge and unfinished housing projects in Florida. My jaw dropped when I recognized the actual size of these projects and how much of this wasted investment is sitting on the balance sheets of many banks which passed ‘stress test.’ Seeing is believing.Take […]
It is “Gandhi Jayanthi” today! We will learn a lot about the great man by observing his body language during this interview. A good interview, nevertheless. What is he calling, “A bad question?” Watch till the end.
This comes to you via UK’s Telegraph: Savers told to stop moaning and start spending Savers should stop complaining about poor returns and start spending to help the economy, a senior Bank of England official warned today. Older households could afford to suffer because they had benefited from previous property price rises, Charles Bean, the […]
This comes to you via Zero Hedge: First Griffiths dissects POMO: “One of the reasons [for the surge] is POMO: what happens is the Fed buys Treasurys off the banks, the banks put the money into the market…That amount of money turns the algorithms up, then all the algo trading hits the market. Real life […]
This morning as I was looking at the download stats for podcasts, I was pleasantly surprised to know that Swami Vivekananda’s speech is immensely popular. I am so happy to realize how well you have received this great man’s speech – I wanted to take a closer look at what other pod casts are popular […]
Jon Stewart went on Bill O’Reilly’s show. This is a quite a match. Bill always mocked Jon Stewart and his audience with such terminology as “stoned slackers”, “pot-heads” while calling his own audiences as the ‘regular folks.’ By regular he doesn’t mean that those who don’t need to drink Metamucil every day. Jon, on the […]
Google CEO Eric Schmidt said in a CNBC interview (Dec 2009) said, “If you have something that you don’t want anyone to know, maybe you shouldn’t be doing it in the first place.” Eric added, “But if you really need that kind of privacy, the reality is that search engines – including Google – do […]
Jon exposes the GOP for the empty suits they are. Lower taxes, smaller government, family first, blah blah blah.. Somethings never change. Looks like they will be back in majority in the House. Not that Democrats deserve to be there for being the chickens they are. The Daily Show With Jon Stewart Mon – Thurs […]
This piece is a part of my series on many faces of hate. I found this hate piece by accident. This guy wants to combine India and Pakistan and call it Pakistan. It is a hate piece alright – but there is a lot to laugh about what he is saying and a lot to […]
I received an e-mail today about housing market: Please talk about your predictions about housing market (both for buyers and sellers)…. I said on the show that I will post an article that analyzed this better than I can ever do… Here it is. This very reliable information comes to you via Caseay Research: Should […]
I have been a great fan of Star Trek – The Next Generation. I liked it for its deep thoughts, powerful writing and the majestic acting of Patrick Stewart as Jean Luc Picccard, the Captain of the star-ship Enterprise. There are several episodes which, after watching, made me think and shaped my thinking. One such […]
Yes. Manufacturing in US is officially dead. Turn the lights of, literally! Washington Post: Light bulb factory closes; End of era for U.S. means more jobs overseas: By Peter Whoriskey Wednesday, September 8, 2010; 9:48 PM WINCHESTER, VA. – The last major GE factory making ordinary incandescent light bulbs in the United States is closing […]
