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    Krugman is an MSM star, which provides only the last 5-minutes of history in their soundbite analyses. Makes selective amnesia really simple, which is a really big help to Krugman.
    Aug 29, 2009. 02:48 PM | 5 Likes Like |Link to Comment
  • U.S. Markets Flash Strong Warning Signals [View article]
    To CautiousInvestor's list of ingredients we lack for healthy recovery: Open honest decision-making.
    Good points that the technical "support" of these markets is based on such mush. The solidly known factors are negative. And, the whole house of cards is built on a crumbling "foundation" of people who can pay the bills, which can't be paid.
    I don't know how they allocated the $trillions to Wall St., but, to see propped, state-run failures like FNM and FRE constituting, I believe, 30+% of NYSE volume lately doesn't pass the smell test. 55% stock ownership in the hands of 1% doesn't help.
    China can pay the bills, but their own corrupt system is trying the bubble and crony approach which isn't what brought the US to the top once upon a time.
    Aug 29, 2009. 02:08 PM | 2 Likes Like |Link to Comment
  • WHO GOT TO JUDGE PRESKA? [View instapost]
    No search of NY Fed files because they represent that as "fruitless." Now we know it will be as the Madoff treatment affords them plenty of time.
    Of course, this sad twist keeps the divine right of kings intact for the Fed. Weasel words always favor the influential. So do mishaps like that of Elliot Spitzer.
    Aug 29, 2009. 01:49 PM | 2 Likes Like |Link to Comment
  • Pace of Insider Sales Continues to Escalate [View article]
    I am noticing more positive outlooks for stocks on SA lately as the bulls have made money and technicals can be interpreted positively despite blatant manipulation. Insider selling appears an excellent reality check, thanks.
    Aug 29, 2009. 04:44 AM | 13 Likes Like |Link to Comment
  • Business as Usual: Fraud is Just the Beginning,  [View instapost]
    The concentration of ownership of MSM now is, of course, not pointed out by MSM. So, they function all too well as a tool to promote the illegitimate, powerful interests that are threatening our futures.
    I rarely watch CNN et al, anymore and I am dumbstruck by the sensory overload cited in the article. There is not much room to think, the anchors clearly are not, with any depth at all, and what few thought fragments you can summon are pressured into their direction. I believe it is worse than making you an idiot target for the sponsors, it is to make you reach their conclusions.
    And, as the article says, the conclusions are reached without any context that would highlight the unparallelled extent of our corruption, income inequality and military overreach. The illegitimate is being not only legitimized but it is being enshrined.
    Aug 29, 2009. 04:33 AM | 2 Likes Like |Link to Comment
  • Economic Change: Not from This Administration [View article]
    Well said, thankyou. The more academic the discussion amongst economists, the more it resembles an absolutely useless examination of entrails. It is nearly impossible to get them to become useful in the real world.
    There is no attempt amongst so-called leftists to aid ordinary people in anything I've seen from any US government. States and localities are focused on self-preservation and there is no credible safety net for average Americans such as even Ron Paul advocates. For shame.
    The least a government the size of ours can do in times like this is to provide a safety net. Instead, our balance sheet has been shredded to provide aid and comfort to the richest Americans first. The litmus test for Bernanke, as you correctly put it, is whether he continues to sweep bank losses under the carpet or begin to allow losses to fall where they should. I'm afraid I know the answer.
    Aug 29, 2009. 04:13 AM | 1 Like Like |Link to Comment
  • Why Is the Fed So Secretive? [View article]
    Generally, banks that have run more risk are the ones that would look worst with disclosure. Those are the ones who have an unfair competitive ADVANTAGE right now as they can run the risk and presumably pay higher depositor rates and bonuses with NO penalty. Opening the books would help LEVEL the playing field.
    Aug 28, 2009. 05:10 PM | 1 Like Like |Link to Comment
  • BARNEY FRANK & RON PAUL ALLIES? [View instapost]
    I know, be careful what you wish for. But, this incremental step seems a huge positive to me, even though Washington has shown itself endlessly capable of mangling and reversing the will of the people and common sense.
    Aug 28, 2009. 01:01 PM | 10 Likes Like |Link to Comment
  • More Bad News Bears / Banks [View article]
    When you kick the skunk down the road enough times, you get a real mess.
    I guess it's that policymaker favorite, the no-brainer, to pretend and extend cronies and failures at taxpayer expense. They likely make it through the next election, they say, "it would have been worse" without their costly ministrations and, hey, it might work.
    Like all the overpaid suits running corporations which constitute OPM and are set up to pay them off big now for risks that hit later, politicians are by definition playing in an OPM playpen.
    The only losers are the rest of us. Play on.
    Aug 28, 2009. 10:30 AM | 2 Likes Like |Link to Comment
  • Energy Secretary Chu Wimps Out Again [View article]
    Obviously all decisions now are political, with government in charge of so much. This is fascism, they reward failure and with the $trillions spent for (sorry, I just ate), with the "concern" for the environment that extends just as far as the cap'n'trade swindle, objective merit isn't on the radar.
    Natural gas should be a natural; there goes breakfast. Get used to the brave new world. Believe what our owners believe.
    Aug 28, 2009. 10:02 AM | 9 Likes Like |Link to Comment
  • Federal Reserve Fights Judge to Hide Secrets [View instapost]
    The Fed holds $4 trillion just by printing paper and "selling" it to the Treasury. Only the "divine rights of kings" keeps this in the dark. I'm not sure what you say that could be worse than the truth.
    Looking forward to reading you on your site and instablogs.
    Aug 27, 2009. 04:54 PM | Likes Like |Link to Comment
  • Repudiation of U.S. Financial Engineering [View article]
    I'm sure Treasuries are an easier sell than any agency debt as they owners of it who are being kicked in the stomach need any relief possible. They're trying to edge a bit nearer to the exit.
    Our leaders are playing for time, hopefully for the election and to arrange alibis.
    Aug 27, 2009. 10:50 AM | 2 Likes Like |Link to Comment
  • Want To Halve US Medical Costs? Easy Just Break Up The Monopoly. [View instapost]
    I've intended to thank you for the clarity with which you cut through the crap to get to the bottom line. You're the best at using your training to educate rather than obfuscate. That is amazingly rare with anyone with professional training.
    This instablog, if possible, is the best yet.
    Aug 27, 2009. 08:27 AM | 1 Like Like |Link to Comment
  • July New Home Sales Are Up - Break Out the Bubbly [View article]
    Whatever they waste money on, they always claim it would have been worse without it. Somehow, these lifetime politicians rarely have to face the results of their handiwork as they have learned to postpone and obscure any clarity with ever more waste put to the taxpayer. The win-win for them is the haul they and their elite friends pull in in the process.
    No programs to help strapped ordinary people other than cash for..... With the bankruptcies and defaults looming, aren't these problems about to overwhelm the ingenuity of even our swindlers-in-charge to play games and evade responsibility?
    Aug 27, 2009. 07:52 AM | 3 Likes Like |Link to Comment
  • Conor Clark: Surprising Data on Federal Wages [View article]
    The leadership in corporations usually make tons of money. They take any gains possible for themselves rather than improve the company. They tend to exploit their labor to the maximum possible. The top tier pays themselves fortunes even if their companies are going under. It is these people that politicians associate with.
    That said, private companies can't just legislate pay increases to their labor forces like government. Government has not paid attention to their finances (ya think?) in the awarding of their labor contracts. It is painfully obvious that they need to be reigned in.
    Okay, let's not focus on the fact that government workers, who get lifetime gold-plated medical and guaranteed-benefit plans often after 20-and-out should have lower pay than private equivalents. Let's aim for equal.
    Aug 27, 2009. 07:36 AM | 4 Likes Like |Link to Comment