My co-blogger, Bruce Henderson — with deep Scottish roots — wants to start discussing personal thriftiness here at the blog, which I think is a great idea. And since I spotted this item at the Consumerist (one of my favorite sites), I thought I’d jump the gun and post it here. It’s a personal purchase […]
Courtesy of Naked Capitalism, these words of wisdom from Steve Waldman: … for the most part, what is called financail innovation is finding new technology that makes legal what was illegal under the old technology
As mentioned in an early post, there are no clear signals that the global economy is skidding to a violent halt. This can only spell additional trouble for activist governments intent on conjuring up enough money to bluff the world wide credit implosion into submission. For the past two decades, the most prosperous nations on […]
I was out running various errands today, which included stopping by my bank to deposit a few checks. The branch building looked deserted when I pulled into the parking lot, and as I went to go in the first set of doors, I saw a piece of paper taped to the inside of the 2nd […]
As I write this, the markets in Japan are down nearly 10%. Several of the markets in Asia are closed in hope of shuttering themselves against the raging storm that they helped create. The Yen carry trade is at long last unwinding like the tightly wound spring it was. There is not enough money in […]
The Senate has passed a pork laden version of the Wall Street Welfare bill. Included for fun are provisions like this: SEC. 503. EXEMPTION FROM EXCISE TAX FOR CERTAIN WOODEN ARROWS DESIGNED FOR USE BY CHILDREN. (a) IN GENERAL.—Paragraph (2) of section 4161(b) is amended by redesignating subparagraph (B) as sub301 paragraph (C) and by […]
During late August and Early September, the Halifax Bank of Scotland (HBOS) began to collapse. The UK was eager to prevent this at all costs, as Halifax bank is a major player in the UK. In a deal brokered in part by UK Prime Minister Gordon Brown himself, Loyds TSB would buy out the Halifax […]
Readers will recall that I have been against the massive, wasteful bailout bill that is still before congress. My position has been that the $700 Billion allocated cannot and will not fix the problem, if for no other reason than the problem is several orders of magnitude larger than that figure. This collapse is powered […]
There will come soft rains and the smell of the ground, And swallows circling with their shimmering sound; And frogs in the pools singing at night, And wild plum trees in tremulous white; Robins will wear their feathery fire, Whistling their whims on a low fence-wire; And not one will know of the war, not […]
Not a good sign
In my long list of blogs and websites that I visit once a day is contemplate.us, which serves up a random proverb on each visit. As the global finanical markets melt down around us, I wondered what wisdom it had for me on a foggy October morn:
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