Francine McKenna, writing for the American Banker, thinks that some big time gangbanksters may finally be called to account soon. I think the Obama administration will pull Jamie Dimon down along with Jon Corzine. They’ll do this to regain momentum with working-class voters—the 99%. Winning the November election, less than a year away, will…
Tag Archive for Trillions
Charles Hugh Smith, Contributors- Economic and Financial, Must Read
Where’s the Collateral?
by Charles Hugh Smith • • 0 Comments
A sound system of credit is built on collateral. A doomed system of debt sits precariously on phantom collateral.
The global “recovery” is based not on reducing debt but on increasing it. Nice, but where’s the collateral? The basic idea of de…
Charles Hugh Smith, Contributors- Economic and Financial, Must Read
Does Believing in the "Recovery" Make It Real?
by Charles Hugh Smith • • 0 Comments
Basing a “virtuous cycle” on lies and propaganda is self-defeating.
Does believing in the “recovery” make it real? The propaganda policies of the Federal Reserve and the Federal government are based on the hope that you’ll answer “yes.” The en…
Charles Hugh Smith, Contributors- Economic and Financial, Must Read
Peak Housing, Peak Fraud, Peak Suburbia and Peak Property Taxes
by Charles Hugh Smith • • 0 Comments
Peak Housing reflects not just a credit bubble but Peak Fraud and Peak Suburbia.
Once again pundits are claiming that housing is “finally recovering.” But they’re overlooking three peaks: Peak Housing, Peak Financial Fraud, and Peak Suburbia, all…
Charles Hugh Smith
When Does This Travesty of a Mockery of a Sham Finally End?
by Charles Hugh Smith • • 0 Comments
Intersecting global crises cannot be papered over with artifice and propaganda for long.
We all know the Status Quo’s response to the global financial meltdown of 2008 has been a travesty of a mockery of a sham–smoke and mirrors, flimsy facades o…
Bruce Krasting, Contributors- Economic and Financial, Must Read
On PIGS on Drugs
by Bruce Krasting • • 0 Comments
An interesting article in the Swiss press this morning regarding the big Swiss drug companies, Roche and Novartis.
Apparently the PIGS are not paying their drug bills. The numbers are big. The bills have been unpaid for years. Some excerpts from the…
Bruce Krasting, Contributors- Economic and Financial, Must Read
Dis and Dat
by Bruce Krasting • • 0 Comments
.Self-Serving Accounting
There’s been an ongoing row about changes in lease accounting. Big players in the leasing industry (think GE) have been fighting the changes tooth-and-nail. This article had some interesting data on the consequences of the n…
Charles Hugh Smith
You Can’t Fool Mother Nature For Long: The Substitution of Debt for Productivity
by Charles Hugh Smith • • 1 Comment
The “big story” of the U.S. economy is that we have substituted expansion of debt for meaningful increases in productivity.
For the past 30 years, the U.S. economy has become increasingly dependent on explosive debt expansion for its “growth” rath…
Charles Hugh Smith, Contributors- Economic and Financial, Must Read
Habituating to Contraction
by Charles Hugh Smith • • 0 Comments
The Savior State has pulled out all the stops to prop up the Status Quo. Its gargantuan borrowing and spending have fixed nothing. Contraction is replacing expansion as the new normal.
For the past 67 years, Americans have been conditioned to expe…
Bears Chat, Best of the Forums
The Debt Walkers Strike Back
by Bears Chat at The Wall Street Examiner • • 0 Comments
Ilargi: It’s very simple, but maybe that’s the problem. For all I know it’s just too simple for people to see.
There’s a group of people, and it’s tempting to call them the 1%, but they’re not really, since there’s politicians in there too who …
