Debt Burden of Nations
As I mentioned several times, India with only 128% of debt burden (sovereign + consumer debt) and huge population, is the right place to be for economic growth, closely followed by China.
Business
DOW Down 512 pts. Today is for the Record Books.
Financial markets have given an unforgettable 50th birthday gift to the President. Today is nothing less than a massacre for stock markets across the world. There are any number of reasons for today’s massacre. Happy Birthday, Mr. President. The fundamental reason is imploding confidence in sovereign debts, US included. Back in 2008, many market savvy […]
Financial Market Update (Red Alert): Short-Term Yields Going Negative
Short-Term Yields Going Negative In simple English, it means that you have to PAY THE BANK TO KEEP YOUR money. This kind of imbalance happens in extreme panic situations.Via Zero Hedge: The stunner in this morning’s newsflow (the long, long overdue market collapse which is a much needed catalyst for QE3 should not surprise anyone), […]
Ahoy Netflix!!!
If you missed the Netflix ads or Netflix story of late, you must not be living in the United States. Regular listeners of my show know that Netflix is one of my beat-up horses. I was on record saying that it is a company with a bloated stock price and potentially an accounting scam artist. […]
Product Driven vs. ‘Driven’ Driven Economy
Yes, it is not a typo that you see ‘Driven Driven’ in the title. What is the ailment of the current economy and the effect of it on millions of people all around the world? We can understand if the economy gets impacted if there are natural calamities like the Tsunami/earthquake in Japan […]
The Real Reason for Economic Drag: Huge Drop in Consumer Spending
The American economy is 2/3rd consumer spending. In the 1990, cheap credit boosted consumer spending via revolving. In the 2000s, the meteoric rise in home prices led to consumers tapping their home equity to keep spending (referred to as ‘the Home ATM’). Now, both credit spigots have been stopped. Furthermore, the consumer is already in […]
Blame Them Shorts, You Morons!
Do you ever wonder, the western press was quick to brand debt trouble faced by Malaysia, Thailand and Indonesia in 1997 as “Asian contagion” as if it were akin to a contagious disease, has avoided using the same term to refer to identical troubles in Europe? This European crisis is now often referred to as […]
New York Mag: Obama’s Original Sin
“The president’s failure to demand a reckoning from the moneyed interests who brought the economy down has cursed his first term, and could prevent a second.” This is a good article and a must read. It reflects most of my thinking on Obama’s presidency. What haunts the Obama administration is what still haunts the country: […]
Barry Ritholtz: Not the Greeks, But Their Creditors Get Bailed Out
Says Barry: Ahhh, the Greeks! Long considered the cradle of Western civilization, Greece is the birthplace of democracy, the founders of Western philosophical thought. The Greeks invented the Olympic Games, literature, political science, and too numerous too enumerate scientific and mathematical principles. The first coin was minted there, as was the university education, and the […]
HFT Algos at it Again?
Predictions of crashes have little credibility with me. However, this one has some credibility. Zero-Hedge’s Tyler Durden (not his real name) thinks that a flash-crash of sorts could happen on Wall Street today or this week. He claims that yesterday’s bizarre options trades (honestly, I only understood some of what he was saying) by HFT […]
Greek Austerity Now: Bankster Cartel’s Another Victory Over the People
Once again, the bankster cartel wins. The Greek Parliament just voted for more austerity measures. Don’t get me wrong, austerity is a good thing. It should be done. But not at gunpoint and threats that are solely aimed at saving the way of life for the bankster cartel. The only thing this will do is […]
What Brings a Revolution? Can it Happen in US?
I began writing this piece In February 2011, during the revolution in Egypt. Everybody who is following the current turmoil in Greece or who had even peripherally followed the recent events in Egypt knows that these are nothing short of extraordinary days. Not just Egypt and Greece, there were more revolutions in 2011 (e.g. Tunisia, […]
Give the Banks What they Want, or there Will be “Tanks In The Streets, Mass Suicides”
This via Zero-Hedge With just days left until the crucial vote on passing the Greek mid-term austerity package, the assured destruction rhetoric used by the Greek status quo has hit fever pitch. Just to make sure the message is not lost on the broader population that Europe’s banks will not admit defeat in a vote […]
“Ireland is Not Greece, Portugal” Never Believe a Rumor Until it is Officially Denied Edition
The caption on an official T-shirt to be printed by Ireland, “Ireland is Not Greece, Portugal” says it all. I for one confirm a rumor as true when it is officially denied. Thanks to Zero Hedge.. this is definitely “The Onion” material.
Lies are Lies – in English or in Greek
A little over a year ago the pronouncement that Greek was rescued from the brink was a big fat Greek lie. Anybody who paid a slight bit of attention to the truth behind the headlines would have known this. In the 2010 deal mainly Germany and other European nations came to the rescue of Greece […]