The sad story of North Lost Wages, Nevada, is an example of why the “shadow inventory” issue is a toothless bogeyman for the US as a whole. Not only did the bubble create false pricing. It caused the construction of entire “false communities,” based largely on speculative purchases never intended for occupancy. This bubble activity…
Tag Archive for Suckers
Facebook News
The Facebook IPO: Shareholders Weren’t Invited to the Real Party | Matt Taibbi | Rolling Stone
by Lee Adler • • 0 Comments
A suit has been filed by Facebook shareholders against Mark Zuckerberg, Facebook, Morgan Stanley and others. It’s based on a very simple concept: when internal analysts learned that Facebook’s numbers were going to be worse than expected, the company and its bankers didn’t tell everyone, but just “selectively disclosed” information to a small group of…
Must Read
Egad, The Fed Pisses Me Off
by Lee Adler • • 0 Comments
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 in…
Latest Business Headlines
JP Morgan Chase CEO Is A Chameleon And A Snake – Full Story
by Newswires • • 0 Comments
(via South Florida Law Blog) The Jamie Dimon Apology Tour is in full swing. Perhaps you caught the first stop on this weekend’s Meet the Press. The chairman of JP Morgan Chase is trying to play us for suckers, publicly apologizing for his bank’s $2 billion loss. He called it an “egregious mistake”. He claims he…
Editorial, Must Read, Off The Wall
The Corzine Carol – Updated!
by Cody Penn Dent • • 0 Comments
So we have new facts that have come to light in the Jon Corzine / MF Global scandal. After a day of Senate “I don’t know / I didn’t intend” testimony (or should we call it “intendimony?”) we learn that an auditor for CME learned that Corzine knew of customer funds being used to collateralize…
Best of Capitalstool.com, Best of the Forums, Must Read
Corzine Testimony Christmas Carol
by Cody Penn Dent • • 0 Comments
Jon Corzine’s testimony could have been sung as a Christmas Carol: (Sung to “God rest ye merry gentlemen”) I guess you clever gentlemen Are wondering what I’ll say. Will I cite the 5th amendment Or did I come to play? Well I will tell you everything On this December day. You see, I don’t remember…
Charts and Trading, Latest Business Headlines, Pretzel Logic E Wave Analysis and Market Commentary
SPX Update: The Crash vs. Seasonality: Round One
by Pretzel Logic • • 0 Comments
The traditional wisdom is that light-volume holiday sessions, such as the sessions approaching on Wednesday and Friday, are bullish.
Since 1941, Black Friday (the day after Thanksgiving) has seen an average rise of 0.28%, and a positive close 70%…
Bears Chat, Best of the Forums
Dow 15,000 By Year Ben
by a Wall Street Examiner • • 0 Comments
Dow 15,000 By Year Ben
Submitted by Barry Ferguson on Sat, 8 Jan 2011
Uh… I mean year end
And….., we’re off! The New Year is off and …
Bears Chat, Best of the Forums
TSA responds
by a Wall Street Examiner • • 0 Comments
“F you, F all you c***suckers, you wont change anything. ride the bus, TSA is here to stay there doing a great job keeping americia safe.”
We won’t fly blog.
Liquidity Trader, Professional Edition
Fed Report Correction – Home Suckers’ Tax Credit Deadline
by Lee Adler • • 0 Comments
Your editor just discovered that he has been giving out bad information about the home suckers’ tax credit for the past several months. The credit expires as of April 30 for CONTRACTS signed by that date, not for settlements by that date as I had been reporting. That means that the propping effects will continue…
