Recent johnbougearel's Commentaries
Medicare Reports It Will Reach Insolvency 5...
Medicare trustees revised forecast for insolvency estimates Medicare will be insolvent by 2024, 5 yrs sooner than they thought Medicare would become insolvent a year ago. What changed their forecast, namely the “slower economic recovery will reduce Medicare payroll tax revenues”. Apparently the M...
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Tags: uncategorized
Lobbyists succeed in Gutting Dod-Frank...
Why is this news no surprise at all? From today’s headlines Senator moves to delay new debit fee rulesat Reuters(Wed 2:37PM EDT) Visa, MasterCard Jump on Possible Delay of Debit-Card Curbsat Bloomberg(Wed 11:25AM EDT) MA, V Pop As Fed Delays Debit Fee Rulingat Barrons.com(Wed 10:23AM EDT)
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Tags: uncategorized
Behind Today’s +2% Rally in the Financial...
The financial sector is the strongest sector in the stock market today. Part of this +2% strength in the financial sector today can be viewed as a relief rally, attributable to the latest effort to let the banks off the hook again. Karl Denninger, Barry Ritholtz and Yves Smith, and several othe...
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Tags: uncategorized
Our New Jobs Czar Jeffery Immelt Has to...
Jeffery Immelt is our new “jobs czar” on Obama’s new Council on Jobs and Competitiveness. Emptywheel at Firedoglake is calling it a “kabuki jobs council,” noting GE had just signed a deal with China to share our jet technology that will allow China to compete with GE and Boeing. Emptywheel also n...
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Tags: uncategorized
The Stock Market is Unhinged from its...
The market is always “unhinged from its fundamentals.” It never trades at some fictional level of “equilibrium.” The markets only concern is how high is high and how low is low. That is the only “discovery” that it cares to ever make. And so, like a pendulum it swings from one extreme to the othe...
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Tags: uncategorized
Madoff Mistletoe: The Perfect Christmas Gift...
Hang this unique mistletoe from the hallways our most beloved ponzi artists and banksters frequent. And may the sweet visions of sugarplums dancing in their heads become nightmare visions of nooses dangling above their heads!
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Tags: uncategorized
Is the Dollar Excessively Overvalued?
Naked Capitalism’s Yves Smith pointed to an Oct 10 2010 article written by Tim Duy as a “must read.” Coming as it was from Yves, I made it a point to read it first thing. Here is the link: http://economistsview.typepad.com/timduy/2010/10/the-final-end-of-bretton-woods-2.html Tim Duy’s argument c...
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Tags: uncategorized
Judge Posner argues for “wealth maximization...
FireDogLake.com published an article this week titled Economic Nonsense Infects Courts. In closing comments, the article concluded ” “There is no protection for individuals. We are at the mercy of corporate decisions about safety” In Yves Smith’s Econned, she touched on the judicial system havin...
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Tags: uncategorized | consumer-protection-and-safety-issues | economic-policies-biasing-outcomes-in-favor-of-corporat | elizabeth-warren
Econned by Yves Smith: A Book Review
Building Castles in the Sand Not often is the public permitted the opportunity to see the chicanery and of the financial industry exposed. Yves Smith, in her timely new title Econned, takes us behind the walls of Jericho that the financial industry hides behind to provide us a rare glimpse of the...
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Tags: uncategorized | yves-smith-naked-capitalism | econned | free-markets | milton-friedman | naomi-klein | shock-doctrine
Larry Summers Says Public Debt “Failure...
While Tim “Kemosabe” Geithner has been in the headlines this past week stating that the sovereign debt crisis in Europe is contained and won’t spillover into the US, his sidekick Larry “Tonto” Summers stated this week that spiralling public debt is dangerous. “Ultimately failure begets failure i...
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Tags: uncategorized | geihtner | irving-fisher | summers
Stock Market is Already in Recovery Mode...
The spike down to 1056 today in the SP500 was related to bank trading desks (who says their trading desks are benign, remember this day when they report Q2 earnings and so-called trading profits in July 2010 and when future crisis arise) unwinding their overleveraged positions.They (the banks) r...
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Tags: geithner | us-treasury | yves-smith-naked-capitalism | banksters | stock-market-plunge
How Should Traders and Investors Weight the...
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Tags: uncategorized | drexel-burnham-lambert | goldman-sachs-fraud | john-bougearel | michael-milken | sec-indictment-of-goldman-sachs | yves-smith
Senator Dodd Says His Reform Bill Won’t Stop...
by John Bougearel author of Riding the Storm Out: What Do Investors Do Now? I can’t believe that Dodd just said “this legislation won’t stop the next crisis from coming” What a total jackass Dodd has been and always will be! Jon Stewart retort to Dodd: “You can’t short your own reform bill.” Late...
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Tags: uncategorized | jon-stewart
Gruesome Headline: Coal Beats Solar as...
From Bloomberg: Wall Street’s contribution to the debate on how to curb global warming: Buy coal, sell solar. While investors including T. Boone Pickens and Warren Buffett are pushing cash into green technologies, the tilt toward Peabody and away from First Solar is the widest in two years. It re...
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Tags: uncategorized
The President’s Working Group is Oppossing...
Chris Whalen reports that the PWG is preparing a white paper in cahoots with the Federal Reserve and the Office of the Comptroller to thwart and block FDIC reform efforts. The white papers prepared by the PWG are never released to the public, so its all behind closed doors activity. Whalen goes o...
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Tags: uncategorized
