The Economic Populist
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March global oil surplus at 17.7 million barrels per day; 2nd qtr surplus to be at 6.2 million bpd despite OPEC-led cuts
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Exchange system approved for Credit Default Swap mess
- 33609 reads
US oil supplies at a 36½ year low, SPR at a 39 year low; oil+products supplies at an 18½ year low
- 186600 reads
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March global oil surplus at 17.7 million barrels per day; 2nd qtr surplus to be at 6.2 million bpd despite OPEC-led cuts
- 85200 reads
Exchange system approved for Credit Default Swap mess
- 33609 reads
US oil supplies at a 36½ year low, SPR at a 39 year low; oil+products supplies at an 18½ year low
- 186600 reads
The Golden Rule
- 1826264 reads
Will the NY Attorney General Bring Doomsday Charges Against Wall Street? If So, How Long Will He Survive?
- 1216339 reads
New York Post Claims Census Falsifies Unemployment Figures
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How Many Jobs Are Needed to Keep Up with Population Growth?
- 362082 reads
VAT or Value Added Tax is Getting a Look in D.C.
- 345720 reads
U3 and U6 Unemployment during the Great Depression
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The war on the middle class
- 315755 reads
House discusses 401k/IRA confiscation
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Tax Cuts for the Rich Do Not Generate Jobs
- 279764 reads
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http://business.timesonline.co.uk/tol/business/markets/article3239618.ece
http://www.brookings.edu/events/2009/0309_lessons.aspx
finished paying off all my credit card debt.....
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Moral hazards would not exist in a system designed to eliminate fraud.
the total amount of people forced out of their careers in Silicon valley during the dot con bust was over 50%.
Now the projections for unemployment are worse than the dot con mass exodus.
The thing about the dot con bomb is many corporations used it as an excuse to offshore outsource as fast as they could entire divisions of technical work that was previously done by U.S. workers.
So, I expect further use of this as an excuse to do the same thing.
One of the worst, who is gunning for Stimulus contracts, is IBM. It's astounding how they have destroyed this company in record time. It used to be lifetime employment and sure they had dead wood, but now they are churning their staff so badly....their overall product is suffering.
Their new corporate logo should read: IBM: India or Bust
I never understood the "diary" term anyway. Post or Article makes more sense to me.
I don't like the term diaries because it implies personal notes. I'd claim many of us are writing citizen journalism types of posts, really articles, many researched from first principles so to me, the term diary really diminishes the effort.
The market is surging and they are saying it's Citigroups "Profit" (how can one have profit with billions in U.S. taxpayer money?)
and the reinstatement of the uptick rule to stop the shorts from ganging up on one particular stock.
I added several links, data and quotes. I still don't have any numbers on how large this bailout will become. I'm not sure that anyone knows for certain.
to the post. $51 billion ain't chump change. I uprated this to go to the front page. Just needs 1 more promote vote. First I even heard of it. Do you know what is the percentage, the overall impact on the financial sector as a whole, the amount of money we're talking about if they fail?
From September 30, 2008. The FHLB of Atlanta decided to loan Countrywide Financial $51 Billion in exchange for mortgage securities of questionable value. A couple months later Countrywide was finished.
government programs, such as FHA, that promoted home ownership were completely abused all in the interest of creating more profits for the mortgage industry and financial conglomerates.
I think consumer spending is a little more than just panic. They also couldn't over extend themselves at that point due to easy credit drying up.
But that "the world will end" message by Paulson, Bernanke to get $700 billion dollars was insane and all of the experts out there who knew how to deal with failing financial institutions, who had detailed plans were ignored.
It was like "we must go this way or the world will end".
It seems many are focused on Lehman and not rescuing it as "the cause" but this is not over and feeding the Zombie banks isn't working so maybe the "cause" is more of the bad response, bad plan, bad fix.
The feeding of the Zombie banks is also obviously a never ending proposition and I think that is putting the fear of God into people, watching trillions being dumped down the Zombie hole.
It is me.
You claim:
I'm not at all sure that isn't an oxymoron in and of itself. Derivatives, like fractional reserve banks and short sells, are inherantly unstable- they're based on little more than lies and promises.
So while I agree with you that we need a reboot of the system, I don't think we can base the new system on credit and derivatives; in fact, these things need to be either outright banned or minimized in whatever new system we end up with. Otherwise, 70 years from now, we'll be going through this all over again.
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Moral hazards would not exist in a system designed to eliminate fraud.
It's just an embedded YouTube from Bloomberg- one of the few due dilligence investment companies that advised against Madoff.
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Moral hazards would not exist in a system designed to eliminate fraud.
And the Administration is postponing releasing any details about a regulatory plan. There is nothing stopping at some level this bad behavior to continue. In the current situation this is extremely dangerous because we have financial conglomerates that are near death or "dead man walking" and can easily do some very risky things that are still legal.
Hell, Europe does not want our poison to continue to destroy its markets. It is a sign that Europe doesn't trust us that we will do anything significant to regulate markets.
H-1Bs are NOT immigrants.
They are explicitly NON-immigrant visas meant for guest workers to fill TEMPORARY LABOR SHORTAGES.
Please be sure to make a clear distinction between "temporary guest worker" and "immigrant".
Seriously? I think taking down CNBC was a scream and lord knows they deserve it....
This is why over and over financial news networks go down, down, down...they promote public relations fiction from some various corporations instead of report the news, regardless of the pressure.
What is that link? I don't trust a lot of video "services", for lord knows what they are getting when it's not their content or youtube.
doesn't translate in any reality as a unit of value or exchange medium established.
Recently there was another H-1B Fraud bust where this "CEO" was bringing over some very good looking women from Eastern Europe, cough, cough for "jobs" inside his company....
magically all of these "candidates" were extremely physically attractive....
but in this case it was his own personal "stable".
I sometimes wonder if free-marketeers really believe their mantra or whether they are simply grasping at "moral justifications for greed", to paraphrase Galbraith.
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