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Security Experts: CISPA Not Needed, Would Do More Harm than Good
Image by William Banzai Torture doesn’t provide any actionable intelligence - it actually reduces the chance that the witness will tell you anything – and yet the government insisted on using it....
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The New European Normal... Is Squiggly
Via Lars W at Cornucopia blog, Eurostat just updated their statistics for government debt to GDP for 2011, so here is an updated graph over Belgium, Italy, Greece, Portugal, Ireland, Spain, France, UK,...
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Now We Know Where All The Greek Bank Deposits Have Gone
Draining your banking system dry of deposits and loans is no easy task (just see chart below), and yet the Greeks sure have succeeded. There was only one open question: where did all this money go. Now...
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Apple Beats, Guides Lower
And here they are: APPLE 2Q REV. $39.19B, EST. $36.87B APPLE 2Q EPS $12.30, EST. $10.02 APPLE SOLD 35.1 MILLION IPHONES IN QTR, EST. 31.2M APPLE 2Q IPOD UNITS SOLD 7.7MLN , DOWN 15%...
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Apple Cash Hits $110 Billion, Up $12.6 Billion
If there is anything at all less than superlative that can be said about Apple's consolidated cash hoard, which grew by $12.6 billion in the quarter and double from a year earlier, is that it is a tad...
View ArticleBiderman Bets Against A Better Europe
"Europe is in big trouble, and the trouble is getting worse - much worse" is how Charles Biderman begins his latest missive. The diatribe focuses on the shortcomings of both the left (the existing...
View ArticleImmigration and the Housing Quagmire
Wolf Richter www.testosteronepit.com Pundits who announced the imminent turnaround in housing over the last few years have been disappointed once again by the S&P/Case-Shiller 20-city composite...
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Market Responds To Market Response To Coy Fed (And Goldman's Take)
It appears that more even than the Fed, the market, being a perfectly insane reflexive device, saw the 0.1% knee-jerk drop in stocks, and took that as a far greater THE NEW QE™ catalyst than anything...
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Smith, Hiatt & Diaz Motion to Purge Lender Processing Services' (LPS)...
Smith, Hiatt & Diaz Motion to Purge Lender Processing Services' (LPS) Accidentally Leaked Internal Email So yesterday we put up some documents that were accidentally leaked from LPS. The...
View ArticleWhich Came First - The Spending Or The Debt?
In a wonderfully succinct clip, Professor Antony Davies addresses the oft-cited perspective that Government has a debt problem. While correct in fact, he examines the data and summarily notes that debt...
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Presenting For Your Correlation Consideration: THE Transfer Payment
We know correlation is not causation, but... Black line is student loan debt; Orange line is AAPL total cash. 2+2 just may ≠ 5 in this case. Chart: Bloomberg
View ArticleTarp Overseer Debunks Bailout Myths: Big Companies HAVEN’T Repaid Tarp Funds...
Apologists for government bailouts push two main myths: That all of the bailout funds have been repaid That the bailouts helped the average American But the official government overseer of the Tarp...
View ArticleLive Webcast Of Ben Bernanke Press Conference And Updated Fed Forecasts
Update for those who don't see more easing - bad news: BERNANKE SAYS FED PREPARED TO TAKE MORE BALANCE SHEET ACTIONS BERNANKE SAYS `THOSE TOOLS REMAIN ON THE TABLE' One hour ago, the Fed launched on a...
View ArticleGundlach Explains Biflation For The Cheap Seats
Appropos Bernanke's razor's-edge tight-rope-walk fence-sitting as the not-too-cold-not-too-hot economy reduces the Fed's ability to do anything, Jeff Gundlach of Double Line provided a succinct...
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Guest Post: Peak Housing, Peak Fraud, Peak Suburbia And Peak Property Taxes
Submitted by Charles Hugh-Smith of Of Two Minds blog, Peak Housing reflects not just a credit bubble but Peak Fraud and Peak Suburbia. Once again pundits are claiming that housing is "finally...
View ArticleSchizoFEDia
On the whole, Goldman viewed today's FOMC meeting as moderately more hawkish than expected. The post-meeting statement was close to their expectations but a few changes added a more upbeat tone. Fed...
View ArticleRobert Wenzel Addresses The New York Fed, Lots Of Head-Scratching Ensues
A month ago we had the pleasure of bringing you Jim Grant's must read address directly to employees of the Federal Reserve in one of the most epic rhetorical polemics ever release unmasking the hollow...
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FaT BoTToMeD GoLDMaN GiRLs
. . FAT BOTTOMED GOLDMAN GIRLS(FAT BOTTOMED GIRLS, QUEEN) WilliamBanzai7 Are you gonna get bailed again tonight Or will Uncle Sam finally put up a fight Are you gonna let your trading book hang out...
View ArticleGermany Folding? Europe's Insolvent Banks To Get Direct Funding From ESM
We start today's story of the day by pointing out that Deutsche Bank - easily Europe's most critical financial institution - reported results that were far worse than expected, following a decline in...
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European Confidence Tumbles To November 2009 Levels, Euro-Wide Double Dip...
Following this week's ongoing battery of abysmal economic news out of Europe it will hardly come as a surprise that yet another indicator has been released and is pointing to a multi-year low in the...
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