Morning Musings: 2011-08-09
Update 8/9/2011: Good morning. While I am educating myself this morning, I would like to share what I have been reading/watching: Yesterday’s 634 rout was…
USA
John Oliver Puts a Funny Spin on a ‘Happy Ending’ Foreclosure Fraud
Monday August 8, 2011 The Forecloser John Oliver gets the scoop on a Florida couple and rookie lawyer who foreclosed on Bank of America and…
Blog Roundup: Is France Next to Get a Downgrade?
Following Friday’s (Aug 5) downgrade of US credit rating, S&P is rumored to set France as its next downgrade target. France’s SocGen and UK’s Unicredit…
Jesse’s Take is Identical to Mine (Or, is it the other Way Round?)
First, futures update: Dow futures are down 289 and S&P futures are down about 32. I would say, it is not as bad as many…
McGraw-Hill vs. Goldman: The Redux
On April 18th, I posted this note about Goldman’s take on S&P’s outlook change on US debt. There is a saying in Telugu, “dongalu dongalu…
S & P Downgrades US Debt. Now What?
On Friday, Aug 5 2011 at 8:01 PM when all financial markets (ex ForEx) in all western countries have closed for trading, Standard and Poor’s…
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….
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…
Welfare State: A Closer Look at the Surge in Food Stamp Use
As of May 2011, 45 million Americans, or 15% of the population are on food stamps. In 2007 the number is a mere 26 million….
A Better Government, not No Government
Debt ceiling debate is over. Once again, Republicans won the fight (not the debate). Congress passed a bill that would have no “revenue increases” (Democratic…
News Corpse: An Apt Pun to Describe Fix ‘News’
Once again, Jon Stewart gives Fix News taste of their Own Medicine on his Jul 19th show. Cal Thomas on Fox: “The biggest case of…
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…
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…
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…
Jon Stewart in the “Belly of the Beast” with Chris Wallace (Must Watch)
For those ideologues who keep bashing “librul” media for a bias that is only real in their twisted way of thinking, I don’t expect Jon…