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eggfaced

eggfaced
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  • "We should put one notion to rest," writes Stratfor, shaking its head at all the attention focused on Greece, "no one event, crisis or decision will cause the eurozone to collapse." Rules and laws mean little and will be violated as necessary to keep everything together. When all else fails, the ECB will print money.  [View news story]
    Everyone in Europe must feel so much better now!
    Jun 22, 2011. 10:53 AM | 1 Like Like |Link to Comment
  • If only we could see what Angela Merkel has seen over the past days, because the German Chancellor has gotten religion. After months of stressing the need for private sector involvement in the bailouts, she now seems convinced of the contagion fallout from such a policy.  [View news story]
    "Core aspects of the economy"? Yea, all the bankers and wall streeters financial engineering as well as an overbloated housing sector are really core aspects of our economy.
    Jun 22, 2011. 08:09 AM | 1 Like Like |Link to Comment
  • Ugly chart of the day: U.S. household debt may not return to its pre-credit bubble trendline until 2020.  [View news story]
    Overlay public debt levels on top of that and extrapolate it out to 2020. I guarentee that the public debt levels will more than make up for the deleveraging of the private sector.
    Jun 21, 2011. 05:03 PM | Likes Like |Link to Comment
  • The first paragraph of the last article states that the Fed is part of the US government as defined by the constitution. I don't think you need to read any further. The article is pure hogwash.
    Jun 21, 2011. 12:55 PM | 2 Likes Like |Link to Comment
  • The departure of Wells Fargo and Bank of America from the reverse-mortgage business because of "unpredictable home values" will leave MetLife (MET) as the giant in the industry. "They must know something I don't," says a consultant, "they're too smart to be heading into an area that's disastrous."  [View news story]
    That's not capitalism! Not even close. Capitalism requires failure, in this country we privatize gains and socailize losses. Call it what you want, crony capitalism, fascism, whatever, but its not even close to a free market and its worse than socialism.
    Jun 21, 2011. 08:49 AM | Likes Like |Link to Comment
  • AARP is dropping its opposition to cutting Social Security benefits, a move that could rock Washington's debate over how to revamp entitlement programs. AARP has always opposed previous reform efforts, but it now has concluded that change is inevitable and needs to be at the table to try to minimize the pain.  [View news story]
    AARP is maybe the most powerful lobby in DC.
    Jun 17, 2011. 10:25 AM | 2 Likes Like |Link to Comment
  • Peter Schiff, head of Euro Pacific Capital, tells NY Post that FINRA’s attempts to implement new Congressional orders are hitting small brokerages harder than the big ones: “Unfortunately they are dropping like flies."  [View news story]
    Exactly why the big banks pushed for this legislation.
    Jun 6, 2011. 10:13 AM | 1 Like Like |Link to Comment
  • "Fed is going to skip QE3 and go right to QE4," says a wag following the terribly weak NFP report.  [View news story]
    Insanity
    Jun 3, 2011. 09:05 AM | 1 Like Like |Link to Comment
  • "Fed is going to skip QE3 and go right to QE4," says a wag following the terribly weak NFP report.  [View news story]
    bbro -

    tightening = dealing with the problems and taking the medicine now so our economy can restructure on sound footing.

    QE = printing money to bail out banks and the US Gov't creating an inflationary depression that will result in eventual destruction of our currency.

    We are stuck between a rock and a hard place for sure but the right thing to do is tighten and I am 100% sure Bernanke won't do the right thing.
    Jun 3, 2011. 08:50 AM | 8 Likes Like |Link to Comment
  • After the Dollar: What Comes Next? [View article]
    It is inevitable that we will return to the gold standard in some form. Its better if our world leaders own up to their greed, irresponsibility, and mistakes, and return to some form of gold backed currency before its too late. If they wait until the market loses complete confidence of the dollar, the king of fiat currencies, then the situtation could turn violent with civil unrest, riots, and massive resource shortages unfolding. At that point, governments will go to unprecedented lengths to gain control. This will be ugly but could be prevented if our leaders take action on the most predictable crises in our world's history.
    Jun 2, 2011. 10:01 AM | 1 Like Like |Link to Comment
  • General Electric’s (GE) director of global research predicts that in just five years solar-generated electricity will be cheaper than power from fossil fuels and nuclear power. “If we can get solar at $0.15/kilowatt-hour or lower... you’re going to have a lot of people that are going to want to have solar at home,” Mark Little tells Bloomberg.  [View news story]
    Anything the government subsidizes removes free market mechanisms and costs more for less! Look at the most heavily subsidized industries - healthcare, housing, education - all broke!
    May 26, 2011. 04:19 PM | Likes Like |Link to Comment
  • General Electric’s (GE) director of global research predicts that in just five years solar-generated electricity will be cheaper than power from fossil fuels and nuclear power. “If we can get solar at $0.15/kilowatt-hour or lower... you’re going to have a lot of people that are going to want to have solar at home,” Mark Little tells Bloomberg.  [View news story]
    Before or after the government subsidy?
    May 26, 2011. 04:00 PM | 4 Likes Like |Link to Comment
  • FDIC chief Sheila Bair to step down, effective July 8.  [View news story]
    Well they've done it enough that they should be pretty good by now.
    May 9, 2011. 03:12 PM | 7 Likes Like |Link to Comment
  • Initial Jobless Claims: +43K to 474K vs. 410K consensus. Continuing claims +74K to 3,733,000.  [View news story]
    Not a good number. If unemployment remains stubborn, QE3 is inevitable. With Bernanke and most mainstream economist calling inflation 'transitory', they will continue to ignore half of their dual mandate. They will focus on unemployment using the only tool they have - a printing press. I guess everything looks like a nail when all you have is a hammer.
    May 5, 2011. 08:35 AM | 8 Likes Like |Link to Comment
  • German lawmakers from both sides of the aisle urge Portugal to sell off a portion of its gold reserves to help ease its debt burden. At today's prices, it's estimated Portugal has nearly $21B worth of the yellow metal.  [View news story]
    Bullish for gold.
    May 4, 2011. 10:07 AM | 2 Likes Like |Link to Comment
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