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    • Thu Sep 25th 08:47 AM | Rating: 0 0
      Commented on:
      Bush's Speech: Surprisingly Coherent
      ABSOLUTELY BRILLIANT POLITICAL THEATER WORTHY OF A EMMY AWARD. HIS BEST EFFORT EVER. The message: If Congress doesn't do this there will be a serious recession and it won't be my fault.
      Very well written and excellent delivery.
      View article »
    • Thu Sep 25th 05:54 AM | Rating: 0 0
      Commented on:
      What Credit Crunch?
      Clearly Hank Paulson and Ben Bernanke aren't aware of this data otherwise they wouldn't be wasting their time testifying before Congress. Maybe I'm too hasty. I think they just applied for a $700B Visa card. You're absolutely correct.
      View article »
    • Thu Sep 25th 05:35 AM | Rating: 0 0
      Commented on:
      Again ... It Wasn't Fannie and Freddie
      They didn't cause the problem but were willing participants. Too much money slooshing around paid a lot of people to look the other way. When you get caught with your pants down blame the "shorts"
      View article »
    • Thu Sep 25th 05:18 AM | Rating: 0 0
      Commented on:
      The $700 Billion Disconnect: Lost in Translation
      I'll agree Bernanke is an apprentice politician. He is uncomfortable with his current situation but knows how to defer on questions that are not in his area of responsibility. As for Paulson, I totally disagree with your premise that he is not a politician. Political savy is in the corporate world is a key to rising up the corporate ladder.
      Paulson can read his written testimony with conviction. When it comes time to answer questions he is nebulous and does not install confidence. His record of saying one thing and doing something else is well documented. The political pit bulls feast over his flip/flops.
      View article »
    • Wed Sep 24th 06:50 AM | Rating: 0 0
      Commented on:
      The Unfortunate State of the Current Housing Market
      Let's make this easy. Your child has just graduated from college with no student loans, no credit card debt and you bought him/her a late model car for graduation. He/she starts out with a job at $50K in a city with a cost of living index at 100%. You get to make the rent vs buy analysis. What do you use to make your recommendation?
      1. Recent transactional value of home prices relative to GDP
      2. Ratio of rental income to home prices
      3. Housing / rental affordability based on income and "wisdom factors"?

      Housing prices are destined to fall and will probably remain flat for many years with few exceptions.
      View article »
    • Tue Sep 23rd 17:11 PM | Rating: 0 0
      Commented on:
      Bank of America: 'Paulson Plan Benefits Mostly Goldman, Morgan'
      MISH:
      I am starting to worry about you. First, I haven't seen a disertation on deflation in a long time. I know you are stressed by King Henry. Soooo take a breath and check out Barry's Blog
      bigpicture.typepad.com.../
      There is no TARP, it's all about SHIT (Securitized Hybrid Investment Trust Bailout Plan)
      View article »
    • Tue Sep 23rd 08:05 AM | Rating: 0 0
      Commented on:
      Not a Single Canadian Bank Failed During the Great Depression
      From the wikipedia link: en.wikipedia.org/wiki/...

      "Canada was hit hard by the Great Depression. Between 1929 and 1933, the gross national product dropped 40% (compared to 37% in the US). Unemployment reached 27% at the depth of the Depression in 1933. Many businesses closed, as corporate profits of $396 million in 1929 turned into losses of $98 million in 1933. Families saw most or all of their assets disappear, and their debts become heavier as prices fell. Canadian exports shrank by 50% from 1929 to 1933. Worst hit were areas dependent on primary industries such as farming, mining and logging, as prices fell and there were few alternative jobs."

      An inquiring mind would ask? Is it possible to stop a rolling snowball by standing in front of it at the bottom of the hill?
      View article »
    • Tue Sep 23rd 06:51 AM | Rating: 0 0
      Commented on:
      "Peak Oil Pundit" Predicts Rally to $500 a Barrel
      Oil at $500 per barrel implies war and total chaos, massive deaths due to starvation, heat and cold related casualties. Even if you could enjoy the wealth effects the likehood of surviving the chaos would offer little satisfaction unless you had a private army for protection. It would be Depression squared (^2).
      View article »
    • Mon Sep 22nd 07:37 AM | Rating: 0 0
      Commented on:
      The Real Reason Behind the Global Financial Crisis, Part II
      "As you go through life make this your goal
      keep your eye on the doughnut not on the hole"
      The hole: fee generation.
      The doughnut: risk and leverage
      View article »
    • Mon Sep 22nd 07:18 AM | Rating: 0 0
      Commented on:
      U.S. Household Net Worth Is Up by 43% Since 2002
      Ryan Ellis wrote:
      "Household Net Worth Down $2 Trillion In a Year;
      Still Up $14 Trillion Since 2002
      There's a lot of hang-wringing today that household net worth is down $2 trillion in the past year.

      What you might not see is that household net worth is still up $14 trillion (over 33 percent) since 2002. So, keep it in perspective."

      I'll just let the SA bloggers that follow to comment.

      View article »
    • Mon Sep 22nd 07:15 AM | Rating: 0 0
      Commented on:
      U.S. Household Net Worth Is Up by 43% Since 2002
      What he wrote was:
      "Household Net Worth Down $2 Trillion In a Year;
      Still Up $14 Trillion Since 2002
      There's a lot of hang-wringing today that household net worth is down $2 trillion in the past year.

      What you might not see is that household net worth is still up $14 trillion (over 33 percent) since 2002. So, keep it in perspective."

      I'll leave the comments to SA bloggers to follow.
      View article »
    • Sun Sep 21st 19:09 PM | Rating: 0 0
      Commented on:
      Read It and Weep for the USA
      The Supreme Court will have a strong opinion on Sec. 8

      The original RTC lost $124B of taxpayer money according to FDIC analysts. The legal battles continue from the original RTC actions.
      If this is RTC ll watch out!

      $700B is only a starting point. Fixing this problem by the government is analogoius to having a high schooll electronics class take over the operations of the AT&T voice and data network that is constructed with sound engineering. The financial network is as complex but was constructed with financial "engineering"... (alchemy) and has mine fields at important cross sections.
      View article »
    • Fri Sep 19th 12:17 PM | Rating: 0 0
      Commented on:
      So Much for That: EBay Looks To Sell StumbleUpon
      EBAY should auction this on Ebay and save some money.
      View article »
    • Fri Sep 19th 10:30 AM | Rating: 0 0
      Commented on:
      No Happy Endings in the Credit Crisis
      The patient may survive the ER but not the hospital bill.
      View article »
    • Thu Sep 18th 10:56 AM | Rating: 0 0
      Commented on:
      Real Disposable Income Up by 11.4% in Q2
      I listened to a former President of the Federal reserve make a comment about the young MBA's coming out of graduate school in the 90's at the beginning of the bull market which coincided with the ramp up of financial alchemy (not engineering-that's a put down on engineers). He said they start out "smart", degrade to average and then become stupid.
      In fact the author is correct in what the BEA reported. However, those gains were "disposed" on food and gasoline rather quickly. Analogous to this is a headline "Hurricane Ike Brings rainfall totals in Texas to normal for the year.
      View article »
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