A couple of minor technical problems called “business” and “life” have now intruded on my increasingly bogged down publication schedule that, in the interest...
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Economic and Financial Features
Economic and and financial news and analysis
William K. Black: Greece Is Tearing Europe Apart Politically, Socially and Economically
Video
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IRS Cuts Deals- Bruce Krasting
The other day the IRS announced new rules for settling tax liabilities for individuals. It’s a sweet deal. I thought that was interesting. Then yesterday we get an announcement from Altria (MO) that they too have cut a deal with the boys at the IRS. ...
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May HSBC/Markit China PMI At 48.7
HSBC/Markit PMI fell from 49.3 to 48.7.
Large discrepancy between HSBC/Markit and “official” PMI.
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Is Facebook (Nasdaq: FB) a Replay of the AOL/Time Warner Deal?
I hope you didn't buy shares of Facebook (Nasdaq: FB). The valuation was always too aggressive.
And increasing both the price and amount of Facebook stock at the last moment ensured that both underwriters and retail investors ended up with far more shares than they bargained...
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An Invitation to Brad Plumer to join us in Warning against the Folly of Austerity
Yesterday, I wrote an article entitled Why Progressive Austerians do the Greatest Damage. The article was prompted by a column written by Brad Plumer. Plumer commented on my article, expressing his disagreement with my characterization of his position.
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Gold Prices and the "Grexit" Effect
Lately gold priceshave been affected by a strengthening dollar resulting from troubles overseas.
On Tuesday, Greek Prime Minister Lucas Papademos told Dow Jones Newswires that considerations were being made for a potential exit by Greece from the euro. He also warned that such an exit would be "catastrophic" for the country and that fallout across...
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Facebook Stock Price Drama Heats up with Lawsuit (Nasdaq: FB)
Investors are not taking lightly the lackluster performance of the Facebook stock price (Nasdaq: FB).
On Tuesday the finger pointing blame game began, followed today (Wednesday) by lawsuits.
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The E.U., Neofeudalism and the Neocolonial-Financialization Model
To fully understand the Eurozone's financial-debt crisis, we must dig through the artifice, obfuscation and propaganda to the real dynamics of Europe's "new feudalism," the Neocolonial-Financialization Model.
Forget "austerity"and political th...
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Rumors and Denials of Rumors
The market rallied higher once again on more rumors (some kind of unworkable bank deposit scheme: what Europe’s loan-deposit ratios look like), and denials of yesterday’s rumors (L-Pap now says Greece to say in EU, blah, blah). The second chart shows what’s involved with PIIGS banking deposits. Using hook theory, trading rumors is the modus...
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Winter Covers Shorts; Maladjusted US Economy Seems Good Because of European Capital Influx- Free Podcast
Russ Winter has covered most of his short positions. He tells why, and talks about his strategy going forward. He and Lee Adler ruminate about why the Fed can’t move yet but will if certain clear parameters are reached. This is a free podcast, available to all. Click here to listen or use the...
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William K. Black- Video: JPMorgan’s “Wild, Crazy Insane Gamble” Puts Global Economy at Risk
Watch Video.
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William Black on JP Morgan and the Failure to Regulate Wall Street Fraud- Video
William Black on JP Morgan and the Failure to Regulate Wall Street Fraud- Video
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Why Progressive Austerians do the Greatest Damage
To many people, it seems paradoxical that conservatives target not the worst social programs, but the best. There is no paradox. Bad government programs are desirable from the right’s perspective – they discredit government intervention. Good … Continue reading →
Why Progressive Austerians do the Greatest Damage
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Why is Apple Inc. (Nasdaq: AAPL) Stock Falling?- Money Morning
Apple Inc. (Nasdaq: AAPL) investors have cringed as the stock slipped about 16% from its peak over the last two months.
But given the absence of any catastrophic bad news, why is AAPL stock tumbling? And where will it stop?
It's important to note off...
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Election 2012: Forget Bailouts, We Need a Shakeout
The markets rallied Monday on news that global leaders favor additional stimulus. The hope is that additional spending will induce growth and put the world back on track.
Don't hold your breath.
Big government robs the economy of wealth, strips it of initiative and further undermines our recovery.
Housing Bust was Just a Preview of the Coming Catastrophe
I first came to national attention back in 2008 and 2009 when the housing and credit markets imploded. I became known as the guy that other market “experts” laughed at when I warned of trouble brewing in the seemingly indestructible American econom...
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Egad, The Fed Pisses Me Off
From the excellent Binyamin Applebaum at the NY Times: One part of the economy that’s growing rapidly is the Federal Reserve. These are boom times for the central bank, which persuaded Congress to expand its responsibilities significantly in the wake of the financial crisis. And with greater responsibility comes a larger budget. If not...
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CBO warns of US falling off ‘fiscal cliff’
CBO warns of US falling off 'fiscal cliff'
[img]http://l.yimg.com/bt/api/res/1.2/oXh_6AJBHy_uEbdrklkymA--/YXBwaWQ9eW5ld3M7Zmk9Zml0O2g9Mjg-/http://l.yimg.com/os/152/2012/04/21/image001-png_162613.png[/img]By ANDREW TAYLOR | Asso...
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JPMorgan’s Senior Officers’ Addiction to Gambling on Derivatives – William Black
JPMorgan’s flacks and apologists have, unintentionally, exposed the fact that their cover story – hedging gone bad – is false. JPMorgan runs the world’s largest gambling operation in financial derivatives. The New York Times reported the … Continue reading →
JPMorgan’s Senior Officers’ Addiction to Gambling on Derivatives
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What is Wealth -Charles Hugh Smith
We all think we know what wealth is, but sometimes the "obvious" misses the mark.
Asking "what is wealth?" seems needless because we all know what wealth is: never having to work again, endless leisure, endless consumption of the "good th...
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Facebook Stock Price: Time to Play the Blame Game
Tags: Facebook Inc Nasdaq: FB, Facebook IPO, facebook stock, Facebook stock price, FB Stock Price, Nasdaq: FB
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The Five Biggest Roadblocks to America’s Energy Future
Marina and I got to come home to Pittsburgh for a few days. But by the time you read this, we'll be in the Bahamas.
Upon returning from our stay in Germany, some developments in the U.S. struck me.
President...
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Three Critical Industries Now in Serious Capital Destruction Mode
In the whodathunk department, Reuters is reporting that Chinese buyers are defaulting on deliveries of iron ore and coal shipments. As I have been reporting for months, ships have been mothballed, triggering another round of under-reportedbanking losses. Also reported from China is a 15% drop YoY in property sales, and more importantly it saw a 19% drop...
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The Deeper Meaning of the Facebook Flop
Aaron Krowne joins Lee Adler to talk about the Fecebook flop, the idea that the Fed conducted a stealth QE (it didn’t), and a few observations from the NY hard money conference. This is a subscriber only podcast. If you are not a subscriber, click here to access the most recent free podcast posted on Monday, April...
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The Age of Information
Frederick J. Sheehan is the author of Panderer to Power: The Untold Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession (McGraw-Hill, 2009) and "The Coming Collapse of the Municipal Bond Market" (Aucontrarian.com, 2009...
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Warren Buffett Stocks: Where the Oracle of Omaha Puts his Money
Berkshire Hathaway (NYSE: BRK.A, BRK.B) has been on a buying spree, adding a plethora of positions to its storied portfolio of "Warren Buffett stocks."
Last Wednesday the conglomerate released its stock holdings. Mutual funds and retail investors closely watch the picks to dissect the...
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Feedback, Unintended Consequences and Global Markets- Charles Hugh Smith
We cannot know that unintended consequences will always be destructive. Neither models nor projections have accurate track records in predicting the future.
It seems an appropriate time to re-examine why our ability to predict the future of co...
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Today Germany is the Big Loser, Not Greece
Today Germany is the Big Loser, Not Greece
By Marshall Auerback Given the German electorate’s long standing aversion to “fiscal profligacy” and soft currency economics (said to lead inexorably to Weimar style hyperinflation), one wonders why on earth Germany actually acceded to a “big and broad” European Monetary … Continue reading →
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Three Critical Industries Now in Serious Capital Destruction Mode
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The Deeper Meaning of the Facebook Flop
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Weakening Federal Withholding Tax Collections Do Note Bode Well For Employment
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Jamie Dimon And The Legitimacy Of The Federal Reserve System
By Simon Johnson There are two diametrically opposed views of how the largest financial companies in our economy operate. On the one hand, there are those like Charles Ferguson, director of the Academy Award-winning documentary “Inside Job” and author of … Continue reading →
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