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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How is borrowing money based on fraudulent claims of asset value and future income any different from counterfeiting money?
Let's compare three financial criminals. The first is an old-fashioned counterfeiter who doctors up paper and runs a p...
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Funny, isn't it? Several times over the last few weeks the market has fallen sharply during the final hour of trading. Whenever the market rallies in like manner before the close, the conspiracy theorists are all over it claiming M A N I P U L A T I O ...
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It is time to take prisons seriously. The United States incarcerates more people than any country in the world today and throughout history. The financial costs are tremendous and rising. One in every one hundred Americans is jailed within this so-c...
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The American Empire excels at ad hoc projects and abandoning the pawns after the game ends.
Although the public thinks prison is all about punishing wrong-doers, a prison is simply a factory for producing criminals. After the typical "war on dru...
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The markets surprised me by holding up well around Thursday’s settlement of $61 billion in net new Treasury supply. Either stocks or bonds should have felt some liquidation pressure. The reason they didn’t appears to be that Japan came back to the Treasury auctions and supplied enough cash on top of POMO to keep...
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by El Dorado Obama’s economic speech today was a very lame attempt at addressing the turn in public opinion against him, his policies, and his administration. His talk says his administration is no different than Bush, and that the situation, being out of their control, forced them to do ‘unpopular’ things with banks.
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Bloomberg did a hit piece on Roubini today by one Whitney Kisling. The article also praised Laszlo Birinyi for getting the 1990s right, and quoted one money manager as saying we should only listen to money managers, and not analysts. As if those money managers aren’t publicly talking their book, using the media as...
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