Author: john bougearel

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...

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,...

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...

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...

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...

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...

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:...

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...

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...

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”...