I am not a ‘chicken-little’ or an alarmist of any kind. But, when I see disturbing developments that are going to affect our livelihood and lives, I feel like disseminating that ‘feeling.’ In the attached audio (podcast) bit I sounded an alarm and urged the listeners to take defensive mechanisms with your money and investments. […]
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[Via – NYTimes] VAIL, Ariz. — Students endure hundreds of hours on yellow buses each year getting to and from school in this desert exurb of Tucson, and stir-crazy teenagers break the monotony by teasing, texting, flirting, shouting, climbing (over seats) and sometimes punching (seats or seatmates). But on this chilly morning, as bus No. […]
Yesterday the White House released the annual Economic Report of the President – a detailed analysis of actions taken by the Administration to address our Nation’s economic challenges over the past year and the President’s plans to rebuild and rebalance our economy for the future. As part of White House’s commitment to make government more accessible, […]
Remember the infamous slip of tongue by Goldman’s CEO Lloyd Blankfine that Goldman is doing “God’s work?” This PBS report sheds some light on that “God’s work.” You will know what front-running is. Pay particular attention to what former insider Nomi Prins and hedge fund manager Jeff Macky are saying. I agree with Jeff’s defense […]
Finally the only economist on this planet who has really succeeded in battling dire economic conditions with a series of tough measure is having his say in regulating US financial institutions. The following is an excerpt from Mr. Volker’s interview with the Financial Times on Feb 11th. Excerpts: “The implication for Goldman Sachs or any […]
It seems to me that Elizabeth Warren, Chairwoman of Congressional Oversight Panel is the only person fighting for the consumer against the sleazy business practices of big banks. See this interview and notice how CNBS anchors, whose job is to shill for Wall Street money interests, come out as apologists for those unconscionable business practices […]
Today the Eurozone leaders have announced some sort of a rescue plan for debt burdened Greece. The pledge failed to calm fears. Experts I follow are warning that this sovereign debt storm will not stop with Greece, Spain or Portugal. It is expected to spread to entire Europe and affect US and all economies in […]
I hope most of the folks are not affected by the Toyota recall. The news surfaced five months back . For all their excellence Toyota lost car making in the last few years. The pressure of becoming number one probably forced them to cut corners. Click here for an interesting read on the behind the […]
The problems in Greece have exposed structural problems associated with Euro as a currency. Several parallels are drawn between Greece and Bear Sterns: Greece problems are to sovereign debt as Bear Sterns problems are to mortgage debt. I am watching this unfolding crisis with disgust over two things: a) Wall Street corruption that has a […]
As I have alerted earlier on this blog that the epicenter of a new financial storm is currently centered in PIIGS countries – specifically, Greece. The problem is simple – Greece borrowed heavily for Olympics related spending and other growth. About 30 Bil Euros of that debt is due or needs to be rolled over […]
Here is a nonsensical rant from a right-wing nut and a CNBS host Larry Kudlow. According to this ‘recovered’ drug addict and yet to recover ‘BS’ addict, all tax cuts are good, unions are bad. Bailouts are a necessary evil as long as they prop markets which were not fundamentally justified being at the levels […]
They claim to be the smartest, better than the best. yada yada yada. May be, they are better than the best at keeping the right people in right places. Ladies and gentlemen, “Goldmen” and their Sachs are everywhere there is power. Goldman Sachs is the power. [media id=33]
Mark Faber doesn’t need introduction. A smart, no, very smart investor. Listen to what he has to say.
Recent slide in markets is mainly attributed to the implosion of economies in PIGS (Portugal, Ireland, Greece and Spain). While this is going on,rumor is that Goldman is incurring significant losses YTD (year-to-date) on carry trade and may have to place stop-loss orders. One might ask, “What is a carry-trade?” I was going to explain. […]
Gretchen Morgenson of NY Times is a great business reporter. She is one of the few financial reporters who went against the market hype during the dot com does real work. In her latest NY Times piece (Testy Conflict With Goldman Helped Push A.I.G. to Edge) she exposed Goldman Sach’s sleazy maneuvers that may have […]
