Federal Reserve Ready To Transfer Housing Losses Back To The Taxpayers
Reuters: (Reuters) – The U.S. government-run mortgage finance firms Fannie Mae and Freddie Mac could play a bigger role in turning around the battered U.S. housing market, the Federal Reserve told Congress, a call that looks set to run into stiff political opposition. The Fed, in a paper sent to lawmakers on Wednesday, outlined an [...]
A $Trillion And A Half In Deficits, And All I Got Was This Lousy Stock Market
If you watch bubblevision financial news, you might think that the stock market has been great this year. After all, the government deficit-spenders and Federal Reserve money-printers have been very busy trying desperately to prop up their phony baloney managed economy so that we all “keep believing.” On these pages, we have repeatedly and sincerely [...]
Blood from a Stone
The RTD recently ran a series of articles about the status of the state employee pension system in Virginia. I thought the attempts at reassurance were very humorous, right along with the justification for the high salaries. Public employees: Your futures are being stolen by this crisis, just like everyone else’s. There is no future [...]
Goodnight, Irene
Bloomberg (props yet again to Zerohedge); China makes a major move clearing the way for dropping the use of USD in international trade: Japan and China will promote direct trading of the yen and yuan without using dollars and will encourage the development of a market for companies involved in the exchanges, the Japanese government [...]
Megan Greene: “It’s Very Difficult To Draw A Line Under This Eurozone Crisis”
20 minutes. This is an excellent, mostly plain-language description of the failing paradigm that confronts the EU. If you listen carefully, close your eyes and substitute “the United States” for “the Eurozone,” you will hear a description of exactly what is headed our way. The interviewer, Michael Hewson, at 1:30: “We’ve had numerous EU (for [...]
Americans’ Expectations Of Privacy, And Being Murdered By The Executive Branch
Mr. Turley also has something to say about “red state / blue state chumps,” which we have also ranted about here multiple times: “trapped in the left-right paradigm.”
Third World USA
Click on the Link below if you can stand it. WHEN WILL THE GOVERNMENT STOP ALL THE DEFICITS, LYING, INTERVENTIONS, AND NONSENSE, GET OUT OF THE WAY, AND LET THE ECONOMY ACTUALLY GROW? WHEN? 50 Economic Numbers From 2011 That Are Almost Too Crazy To Believe
Your Future In Eleven Minutes
Kyle Bass: “In the end, the picture is so large, and the leverage in the banking system is so enormous that when you start delivering, there is no way out of this scenario, and that’s what’s happening right now.” CNBC’s David Faber: “It’s a complicated concept…” No, it’s not; it’s a remarkably simple concept: there [...]
Expansion? WHAT EXPANSION?
Bloomberg: Federal Reserve Chairman Ben S. Bernanke signaled he’s concerned Europe’s crisis will hobble a 2 1/2-year U.S. expansion that may need another boost from the central bank. The economy allegedly “grew” at about 2% this fiscal year. In the meantime, the federal government borrowed and spent the equivalent of 13% of GDP. SO if [...]
If You’re Going to Panic, Panic First
…because, it seems, that your assets may have been pledged multiple times as collateral in a leverage process known as “Re-hypothecation.” Absent proof otherwise, this should probably be assumed to include any money you might have in an IRA, any alleged retirement you think your employer owes you, (what do you think the company does [...]
