Archives for 2008

Sad news today as Tanta, of Calculated Risk fame, has passed on.  We have lost one of the best and brightest voices in the wilderness, ...

As the crisis in the US deepens, we hear frighteningly little analysis of the geopolitical fallout of credit destruction. Naked Capitalism's Yves Smith reminds ...

Please check out this video compilation of Peter Schiff predicting the severe credit crunch consequences as we are now beginning to feel in the real ...

Does anyone else find this shameful? In a speech this morning, Paulson laid out his priorities for some $350 billion of the bailout fund that remains ...

Here's a great article from Minyanville's Kevin Depew on the Potential for a hyper-inflationary scenario, versus our present deflationary trajectory. A lot of people ...

I'm writing this post to discourse on a phenomena that has been growing in the blogosphere as it becomes clear that Obama is going to ...

Harmless Halloween fun? A sign of growing public rage? All of the above? Happy Halloween:)

This great article from Housing Wire brings attention to some early action unfolding in the Alt-A mortgage wave. As discussed in an earlier post, ...

Just a quick plug for this excellent film (Via Big Picture).  Shot mostly in 2006, the film starts as an expose on credit card usury, ...

First, I'll start with a must read macro-perspective from the inestimable Noam Chomsky: The United States effectively has a one-party system, the business party, with two ...

“Let me issue and control a nation’s money, and I care not who writes its laws.” -Nathan Rothschild, 1838 We are being robbed blind.  Yes, the ...

There's a myriad of causes at the heart of this crisis, from mortgage and appraisal fraud, to CDO squared derivatives, to rating agency and monoline ...

Another bloodbath day for the DOW, which is off 20% from its pre-bailout peak, along with the S&P 500, which is off 40% (and Gold ...

This morning I watched this excellent panel discussion with Nouriel Roubini, Brad Setser and Benn Steil. A can't miss macro-discussion of the current ...

Though several watershed events of deregulation and a prolonged flood of Federal Reserve Bank liquidity plainly created the conditions for the real estate bubble, some ...

While the din of fear and panic over the Bailout legislation drowned out the voice of the American public, we learned this week that acting ...

At $45 trillion, the notional amount of CDS in existence is now fast approaching the total amount of credit market debt outstanding in the entire ...

Now that the Senate has passed a boated and, absent raising the FDIC insurance limit- materially indistinguishable bill from the one that the House voted ...

From Calculated Risk: It now looks like the National Debt will be over $10 Trillion tomorrow. As of Sept 29th, the debt was $9,945,578,231,981.59 The surge in the ...

Wow, just wow!  Hopefully they will stay in Washington and implement a plan that has a chance in hell of working. This is a rare victory ...

So far, the revised Paulson Plan looks very bad. Suspends mark-to-market pricing (not surprising, as it would BK many banks), allows banks to maintain ...

It is getting difficult to find this picture anymore: From a press conference held on June 3, 2003 — Pictured are Bush Administration officials from ...

We are at a critical juncture in our country's history.  Congress is being pressured to pass a bailout package that will cost the taxpayers trillions ...

Please read this, Petition: Economists against the Paulson Bailout Plan.

Here's the text of what I've been mailing and faxing to my Senators and Representatives in Congress.  Feel free to co-opt all or part of ...