The Volcker Failure
macroandcheese.org We all want sound banks. We all want banks that are small enough to fail. We all want the assurance that our deposits are safe, without having to bankrupt the FDIC in the event...
View ArticleChina Tightens The Vise On Eurozone Bailout
Wolf Richter www.testosteronepit.com The European Union has filed a laundry list of complaints against Chinese dumping, from shoes to fasteners. Ceramics, for example. Household ceramics got hit last...
View ArticleGrantham Nails It: "The Industry So Much Prefers Bullishness...So Does The...
In his most recent quarterly letter titled appropriately enough "The Longest Quarterly Letter Ever" GMO's Jeremy Grantham literally kills it. Well, maybe not literally but certainly metaphorically. Do...
View ArticleJuncker: "Greece May Need A Third Bailout"
No. No way. If we have to go through one more year of endlessly repetitive and utterly worthless European bullshit, rumors, headlines, and other subterfuge whose only point is to extend and pretend the...
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Traders remain short the Euro
Today FX markets seem to be driven by technical analysis and news flow. Our approach has been to analyze what investors have been doing, rather than what they say they are doing. To accomplish...
View ArticleBuffett Releases Annual Letter To Shareholders, Will Avoid Derivatives Going...
While mostly a regurgitation of old, very trite, and quite meandering thoughts, there are some tidbits of information in the latest just released 2011 Berkshire Letter to shareholders such as that...
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Guest Post: Another View On Default Cascades
Submitted by The World Complex, as a sequel to Scale Invariant Behaviour In Avalanches, Forest Fires, And Default Cascades: Lessons For Public Policy Another View On Default Cascades - Battiston Et Al....
View ArticleThe Colonization Begins: Germany May Send 160 Tax Collectors To Greece
Since the European colonial state of southern Bavaria Sachs (formerly known as the insolvent Hellenic Republic) no longer even pretends to be anything less than a pass-thru funding colony of its...
View ArticleTwo Year Reminder For The Fed: How Is That Investigation Into Goldman's Greek...
There are those who remember that back in February 2010, before the world realized just how broke Greece was, the public's deplorably short attention span was briefly focused on none other than Goldman...
View ArticleMark Grant On The Greek Annexation
Submitted by Mark Grant, Author of the Financial Commentary: "Out of the Box" "He also said that the European Commission, the EU's executive arm, would be installing its own officials at Greek...
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On Gas, Cars and Bernanke
On Gas, Cars and Bernanke Courtesy of Bruce Krasting Everyone is talking about gas this past week, and for good reason. The price at the pump has been tearing higher. According to the papers this...
View ArticleGuest Post: This Is Small Business in America: Burdened, Crushed, Doomed
Submitted by Charles Hugh Smith from Of Two Minds This Is Small Business in America: Burdened, Crushed, Doomed If you make it increasingly costly and risky to open a small enterprise, then no wonder...
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Ben Davies: Greece Is Just A Preview Of What's Coming For The Rest Of Us
Submitted by Chris Martenson Greece Is Just A Preview Of What's Coming For The Rest Of Us All eyes are on Greece these days, with hopes the situation there can soon be resolved and the global recovery...
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Tim Geithner on The Privilege of Being An American
Last Friday Turbo Timmah sat down with CNBC's "chief economics correspondent" Steve Liesman. There were many pieces to this interview that were annoying (such as saying oil prices are the result of the...
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Saturday Crisis Update: G20 Wants to Push European Bailout Fund to $2 Trillion
This just out from Reuters: G20 Finance leaders push to increase European bailout fund to $2 Trillion Want to combine ESM & EFSF, creating ~$1 Trillion dollar fund IMF to request $500 - $600...
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IceCap Asset Management: Tug Of War
From Keith Decker - IceCap Asset Management February 2012 – Tug of War In Berlin June 1922, Alia Schmidt paid 3 German Marks for a really nice loaf of bread. A very quick six months later, the same...
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As Pentagon Sends Reinforcements To Straits Of Hormuz, Iraq Redux Looms
A few days ago, before the latest breakout in crude sent Brent to all time highs in GBP and EUR (and Asian Tapis in USD just shy of all time highs), we said that "we hope our readers stocked up on...
View ArticlePopular Media Personality: The U.S. Has the Moral Authority to Annihilate...
Tucker Carlson says that the U.S. has moral authority to annihilate Iran because they’re evil. What makes Iran evil? Believe it or not, quite a few evangelical Christians think that all Muslims...
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On PIGS on Drugs
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...
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