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  • Corporate Fraud + Government Intervention = Bailout Nation [View article]
    "... the creation of a monied aristocracy around the federal government, in order to do it's bidding" Over 100 years of a shell game, and now the shells are wearing out so that anyone looking can see where the money is.
    Aug 07 06:29 am |Rating: 0 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Thats... $4.00, but I see I'm not alone in the clumsy finger dept.
    Jun 20 08:48 am |Rating: 0 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    re "gas in China should cost about $3.06/gallon - still subsidized, but less so."
    With gas at 4$.00 in the US, where does the line between pure supply and demand vs. manipulated markets fall? Subsidized gas would help strengthen the consumer base in China for future GDP growth. Meanwhile here in the good ol US of A (or perhaps it's now the new weird US of A) we are adapting to... "Voracious Chinese demand is widely seen as the number-one reason for soaring oil prices" Are we getting Shanghied?
    Jun 20 08:46 am |Rating: 0 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Going back to a comment by Matt Blackman from his article,
    Back to the Future in the Credit Derivative Time Machine, SA March 10

    "As Jim Grant said in his March 2007 interview, the CDO creators and rating agencies built their models that basically discounted the probability for a real estate price meltdown (since median prices had not dropped significantly since the Great Depression). There were no contingencies for such an event as evidenced by the fact that a large number of SIVs did not have accompanying mortgage documents (which is now rendering them unenforceable in the courts). In other words, such an outcome was considered a black swan event when such events were determined to be near impossibilities.

    My contention is that mortgages represent a relatively small part of the total $530 trillion derivatives market that has been built on similar assumptions. Like a black hole, few have any idea how these instruments work and what will happen when the unexpected happens."
    Looks like we are beginning to see how they work.
    Jun 19 08:11 am |Rating: 0 0 |Link to Comment
  • The Coming Crash of 2008: A Result of Overleveraging  [View article]
    drmalaka... you can see the post mortem photos of these bankers in the right panel of the tryptich by H Bosch called "The Garden of Earthly Delights"
    Mar 19 12:02 pm |Rating: 0 0 |Link to Comment
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