I Can Be A Bank Too..
From the web pages of Hot Air –
Category: Credit Backlash
Is this what “trickle-down economics” means?
Image o’ the day: At least the contribution is voluntary. Hat tip to The Consumerist. ..bruce w..
Financial Crash – Round 2 Warming Up
I am sad to report that some of the leading indicators show that the second wave of the ongoing financial crash is getting ready to start. In spite of the fact there was a huge rally back above 8000 on the Dow late Friday, the stock market is not what is driving this thing. The […]
A brilliant piece on Wall Street’s self-immolation
Michael Lewis — who wrote Liar’s Poker back in 1989 — gives a fascinating, detailed chronicle of just how Wall Street managed to cause the current financial maelstrom that’s hurting all of us these days. Much of the article focuses on Steve Eisman, who kept asking uncomfortable questions until he figured out just how screwed […]
The tragedy of Iceland
My co-blogger, Bruce Henderson, has spent two years now warning about the stupidities of our domestic (US) economy, based in large part on his nation-wide gathering and analysis of real-estate data on a daily basis. Unfortunately for all of us, he turned out to be pretty much dead on, and we’ve got a major recession […]
Reality hits the fan
This segment from the movie “Downfall” may end up being one of the most reused segments ever…and this particularly reuse is one of the best done (though I still like the “Dallas Cowboys” version): Hat tip to American Digest. ..bruce w..
Hope collides with reality
Here are two articles at the Rocky Mountain News website this morning. First headline: “Poll: 72% are confident Obama will fix economy” WASHINGTON — In one of the economy’s darkest hours in decades, it looks as if people are taking Barack Obama up on his exhortations for hope and change. Seven in 10, or 72 […]
Truck Orders Point To EU Slowdown
It seems that Volvo, a premier maker of heavy over the road trucks for the EU and US markets has begun to see the impacts of the contracting economy. Their orders decline to just 115 trucks ordered for the 3rd quarter of 2008, compared to 41,970 trucks for the same quarter 2007. From Bloomberg: Oct. […]
Daily Financial Moment Of Clarity
Direct from the wise mind of Anna Schwartz courtesy of the Wall Street Journal: This (the crisis) is not due to a lack of money available to lend, Ms. Schwartz says, but to a lack of faith in the ability of borrowers to repay their debts. “The Fed,” she argues, “has gone about as if […]
Daily Financial Moment Of Clarity
From the pages of Wall Street Journal via Greg Mankiw’s Blog, word of a sharp drop in the demand for mistresses for the rich and powerful: According to a new survey by Prince & Assoc., more than 80% of multimillionaires who had extra-marital lovers planned to cut back on their gifts and allowances. Still, only […]
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