Banks are showing their true colors and what little regard they have for the average American. As they advertise with cute and friendly faces assuring consumers they are looking out for their best interest, behind their backs they send in a locust of lobbyist onto Washington to do everything in their power to gut any [...]
California has gone through many boom and bust cycles. Since it became the 31st state in 1850 California has been home to many speculative manias. An enormous population boom in the 1800s was brought on by the California gold rush. Booms like this led to the rise of cities like San Francisco. Los Angeles in [...]
Yes, I said CRASH, and I meant it.
Why?
"Events" like this:
SINGAPORE/CAIRO, March 1 (Reuters) - Copper is likely toclimb when trading starts on Monday, lifted by uncertainty oversupply after the world's top copper producer Chile was poundedby a massive earthquake, analysts said over the weekend.
The front-month contract opened up more than 8%.
This, despite the fact that [...]
Continue reading about Speculative Premium - And Why The Markets Will CRASH
IRA popped up this morning with an article that makes some of the points I've been harping on for a year or so now….
Even as bank securities holdings are rising in aggregate, loan portfolios and assets overall are shrinking at an accelerating pace - evidence, we believe, that deflation remains the chief threat to the [...]
Credit default swaps played a much more central role in the financial crisis than is widely understood, and they continue to get a free pass in financial reform proposals that they do not deserve. As we have discussed on this blog, and recount in more detail in the book ECONNED, central clearing and/or putting them [...]
Continue reading about So Why Hasn’t the Credit Default Swaps Casino Been Shut Down?
Credit default swaps played a much more central role in the financial crisis than is widely understood, and they continue to get a free pass in financial reform proposals that they do not deserve. As we have discussed on this blog, and recount in more detail in the book ECONNED, central clearing and/or putting them [...]
Continue reading about So Why Hasn’t the Credit Default Swaps Casino Been Shut Down?
This piece from Truth About Mortgage pretty well says it all - if you read it all the way to the final few lines…
No significant change in conditions? Really? Not sure if that is a euphamism for “We have not fixed anything yet” or a bold denial of “We know we are only making [...]
On February 1, 2010, bill HB 3162, which authorizes the creation of a state bank, was introduced to the Washington State legislature.
Sponsors: Representatives Hasegawa, Hudgins, Chase, Simpson, Dickerson, Goodman
A public hearing has been scheduled next Tuesday, March 2, 2010, for HB 3162. There has been so much interest in this idea that Chair Kirby of the [...]
On February 1, 2010, bill HB 3162, which authorizes the creation of a state bank, was introduced to the Washington State legislature.
Sponsors: Representatives Hasegawa, Hudgins, Chase, Simpson, Dickerson, Goodman
A public hearing has been scheduled next Tuesday, March 2, 2010, for HB 3162. There has been so much interest in this idea that Chair Kirby of the [...]
This is exactly what I’ve been saying would be coming down the pike from the central bankers. Let’s look at what was said just yesterday by Dominique Strauss-Kahn, the head of the IMF:
Head of IMF Proposes New Reserve Currency
By HARRY DUNPHY Associated Press WriterWASHINGTON February 26, 2010 (AP)
Dominique Strauss-Kahn, the head of the International Monetary [...]
Continue reading about Head of IMF Proposing World Wide Reserve Currency…
