This person has been living in their house without making a mortgage payment for nearly a year and a half, and the bank – it’s one of the “Big Three” – HAS NOT FORECLOSED. [Big three: Bank of America, JP Morgan Chase and Citigroup]
If you haven’t noticed the recent turmoil in world financial markets, you haven’t been paying attention. Oh yes, it will affect you in one way or the other. Wonder what is happening? In July 2007 it all started with was souring debt and derivatives related to sub-prime mortgages. Essentially, corporate debt and its derivatives. Now, […]
CNBC is notorious for its cheer leading for markets when they are going up. They even go to the extent to discredit any voices of reason for urging caution against insanity in markets. They got to cheer for DOW 10,000 – twice. Well, they must be devastated to see the magic line cross again today, […]
Hindu Gods have made their way into U.S. mail, with an Atlanta based company headed by an Indian American launching a series of legally valid custom-made postage stamps. The first of these 44 cent stamps featuring Sri Krishna, Shiva-Parvathi, Lakshmi, Lord Venkateshwara, Murugan, Vinayaka and Sai Baba were issued last month.
Few people with vested interest in financial markets openly say things that are worth listening to. Mr. Mohamad El-Erian of Pimco is one of the few financial gurus with some integrity left. He is telling us to be cautious in financial markets. Why? You can read more on his thoughts at Bloomberg, “Mind the Gap.” […]
Dylan Ratigan was one of the very few sane reporters on CNBS. He was shown the door for reasons not disclosed. However, he came back to host a morning show, “Morning Meeting” on MSNBC about 10 months ago. Listeners of Mohana Murali GaanaLahari know that I strongly believe that President Obama only talks tough and […]
Groundhog Day is a holiday celebrated on February 2. It is held in the United States and Canada. According to folklore, if a groundhog emerging from its burrow on this day fails to see its shadow, it will leave the burrow, signifying that winter will soon end. If on the other hand, the groundhog sees […]
I have great respect for Mr. Paul Volker, former Chairman of the Federal Reserve Board. He is widely credited for saving the US financial system from an environment where inflation was 13.5% in 1981 to about 3.3% in two years. He did not bow to business or political pressures and gave the economy the tough […]
[Via – ConsumerReports] In the ongoing saga of Toyota recalls, the company last night recalled another 2.3 million vehicles for potentially sticking accelerators. This recall is separate from, but in addition to, the company’s recall of 3.8 million vehicles last fall for issues that could result in uncontrolled acceleration. Notably, this recall adds models not […]
[Via – The Register] Laptop owners upgrading their Windows XP and Windows Vista machines to Windows 7 are complaining that Microsoft’s new OS has severely reduced their available battery life. One user tells The Reg that after upgrading his circa 2007 HP notebook from Vista to Windows 7, the machine’s battery life dropped from two […]
In the next few weeks we will be hearing a lot about sovereign debt crisis for Greece. Debt crisis is derivatives crisis. Derivatives are Greek – a lot of Greek! I found this simple chart at Zero-Hedge and it explains the ramifications in a decision tree, and in simple English.
Those who have been following US financial markets for a long time know one thing for sure: markets are manipulated by the money interests. Many savvy investors I know and follow have suspected collusion and conspiracy between the banks and the powers that be. If you are among them, you would be right. Geithner and […]
Two more Indian students have been assaulted in Melbourne, Australia. This is the latest in a series of attacks there targeting people from India. A group of attackers allegedly made racist comments before kicking and punching the students on Monday. One victim was taken to hospital and underwent surgery. Police have charged five men over […]
If you watched news in US for a long time, you probably have an idea when Tom Brokaw or Dan Rather tossed to the reported and how the reporter filed a report. They all have a standard template. A template that is perhaps cooked-up in some ‘reputed school of journalism.’ All these news reports look […]
Now that Bernanke is confirmed for another term at the helm of the Fed, some pundits will have you believe that the stocks are safe. It doesn’t matter if he shares a major portion of the blame for current deflationary environment. Anyway, as a market contrarian I look for extreme sentiments on markets. Back in […]
