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The great Milton Friedman famously predicted in 1999 that Europe would not survive it’s first economic crisis – it’s looking more and more like Uncle Milt is going to be right on the money. The debt ratings of the PIIGS are going down faster than a stack of dominoes, with Spain being the latest Club […]
Of course we’re talking about… …all at once now… Muni bonds! Yay! Of course, municipalities far and wide have no way to pay back their increasing deficits amidst falling tax revenues. Of course you knew this already, being an astute reader and no doubt a contrarian thinker. But the mainstream press is even starting to […]
Ever wonder what the hell takes the rating agencies so long? Today, leading credit agency Fitch downgraded Portugal’s debt amid “growing concerns about the government’s ability to service it’s borrowings.” Well – duh – increased borrowings coupled with decreasing tax revenues should raise concerns. What amazes me is that the Euro traded down today on […]
Nice slide show by our friends at The Daily Reckoning – informative, and entertaining! The Daily Reckoning’s Unofficial Unauthorized Financial Darwin Awards View more presentations from Agora Financial. And a little while back, we reviewed their latest book, Financial Reckoning Day Fallout.
You’ve gotta admire former hedge fund manager Jonathan Rojewski, who ditched his Wall Street job in favor of creating his own brand of tequila. So Rojewski left the financial industry after a decade of climbing the ladder from analyst to hedge fund manager — working at the likes of Goldman Sachs, Oppenheimer, and Pequot Capital. […]
Hank Paulson and Ben Bernanke are sweating right now. The Bank of America scandal could have some legs, especially with a Democratic Congress looking for folks to tar and feather. In fact, one of them could be toast – whoever doesn’t rat first. Read on for more details in this guest piece by Olivier Garret, […]
The Wall St Journal reports that over 20% of US homeowners owe more on their mortgage than their homes are worth. Some metropolitan areas are faring worse – much worse – than others. Las Vegas takes the prize, with an astounding 67.2% of homes that are “upside down” in terms of equity. Maybe the Obama […]
Why are the banks still not lending, even though they are supposed to be flush with cash? Because they don’t actually have the cash, says Paul Van Eeden in an excellent interview with BNN. It’s an interesting perspective – Van Eeden believes that the cash that banks to have is parked with the Fed […]
How bad can the current financial crisis get, and how long will it last? Casey Research’s Chief Economist, Bud Conrad, tackles this question, crunching the numbers produced by two leading economists who took a broad sampling of banking crises. The information is presented in an insightful and informative way as only Bud can. I hope […]
This 1999 NY Times Article: about Congress easing the banking laws that were constructed after The Great Depression is hysterical. If hindsight is always 20/20, I wonder what this is exactly. Congress approved landmark legislation today that opens the door for a new era on Wall Street in which commercial banks, securities houses and insurers will […]
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