Reuters has a story on investigation of S&P and Moody’s by Justice department for their role in the Mortgage meltdown of 2007-2008. Clearly the question is why is this probe starting up 3 years or more after the fact. Here are 5 possibilities: 1)It takes a long time to do Financial fraud prosecutions. Also GOP has held […]
The Ratings Agencies Moodys and S+P: Investigations 3 Years Late Read More »
Well Wall Street has spoken and they are demanding and betting big time as seen in the 3% rise in the DJIA today that Federal Reserve Chairman Ben Bernanke will be “printing money”. He did it last year just before the midterm elections with an annnoucement at Jackson Hole Wyoming financial conference in August trying
Hell, More QE – Quantitative Easing Read More »
If you thought the S&P downgrading of the US debt would persuade Washington to call off its bitter “unforced errors” of grisly partisan politics – wrong, Wrong, WRONG. The belligerents are still at it and the GOP are the alpha attack dogs because disgracing and defeating President Obama is the only thing that unites the
GOP Smells Blood, Targets Obama Read More »
Memo to: President Barack Obama Subject: NYTimes/Princeton’s Paul Krugman was right three times Dear Mr. President We regret to inform you that Paul Krugman was right three times. First he was right about the size and targeting of the stimulus funds. JedReport, June 2010 – Stimulus Spending: Paul Krugman was right – it was not nearly enough
Memo to: B. Obama – Paul Krugman Was Awfully Right Thrice Read More »
This posting is not about Nazis but rather appeasement – abject, complete, and uncompromising appeasement. Now the US knows what its like to live under a leader who may be well-intentioned but as spineless as Prime Minister Neville Chamberlain of England just before World War II. Look at the facts: Republican Presidents have been responsible
President Neville Chamberlain Obama Read More »
The revelation in 2010 of 500o UBS tax avoiders in Switzerland at the UBS bank turns out to be the tip of the iceberg. CNBC has a slideshow showing the extent of tax evasion – the government reports nearly 500,000 thousand tax avoiders having secret and illegal offshore bank accounts. Despite a second round of amnesty
Who Is Not Paying Their Taxes Read More »
If Pastor Rick Warren can say “Half of America Pays no Taxes, Zero”- you better believe it! But Andrew Sullivan at the Daily Beast has helped to uncover some data that refutes this notion easily. The Pastor is beginning to sound like Senator John Kyl of Arizona who was caught damning Planned ParentHood(“90% of its services are abortions”
“Half of America Pays No Taxes, Zero” Read More »
Ye Editor has previously put forward the idea that the GOP is coming apart at the seams and the only thing uniting the Republican party is the notion of making Obama a one term President. Now that the split in the House between the two factions in the GOP has become an open festering wound
The Only Thing Uniting the GOP Now is “Get Obama” Read More »
The Debt Ceiling Debate reveals the Republican Party coming apart at the seams. A previous post looked at the many contradictions and conflicting issues among the Republican “bases” which are now coming to the fore. In the Debt Ceiling Debate the powerful Wall Street and Business base is pitted against the conservative small business, fundamentalist,
Republicans Coming Apart at the Seams Read More »
The following is a list of related stories at the Forbes.com website Monday Morning July 25, 2011 – the day after story about how the Debt Ceiling negotiations broke down and the Forbes’ commentary was on the repercussions of a default on the markets and the economy. But the related stories were the highlight for
Forbes Magazine: GOP’s Fox News Affiliate Read More »
There is a little parable today on the blatant piracy taking place on Wall Street and the continued regulatory near-vacuum. Chris Pia of Moore Capital [$10B Hedge Fund]got caught in August 2008 “close banging” [ which is merely a trading artifice in which the closing price is manipulated by repeated barrages of buy or sell
Wall Street: Blatant Piracy Read More »
This is a Fake Apple Store in China There is a story circulating in the business press about a new case of blatant piracy in China – fake Apple Stores are cropping up all over China. For the past ten years since China was admitted into the WTO and obtained most favored nation status for
China: Blatant Piracy Read More »
The most interesting item heard on NBC’s Meet the Press and ABC’s This Week was the fact that both parties were working towards a 4PM Sunday deal so that the Asian stock markets which are at 9AM Monday time did not spike downwards because of the continued US Debt Ceiling Gridlock . It shows where
GOP: We are the Super Dupers Read More »
Nowhere is the disruptive waves of change emanating from rapid developments in electronics more evident than in photography markets. 150 years of chemical films came to a close in the late 1990’s and early 2000’s with the rise of digital cameras[just ask Eastman Kodak]. Now separate video and still cameras are merging as both compact
Photography : The Futures Read More »
In all the turmoil associated with the Euro debt crisis in Greece, Ireland, Portugal and now Italy, a major movement in energy policy has taken place. Germany has voted to re-align their energy development to replace their previous commitment to nuclear power with renewables- solar, wind and even geothermal. This is groundbreaking because this is
Germany Goes Non-Nuclear Read More »
The Financial Press reported that both Apple and Microsoft had “blow out quarters” for their June 2011 end quarterly reports. The table below tells the tale: Comparison of AAPL-Apple and MSFT-Microsoft July 2011 Sales and Earnings Description AAPL Sales AAPL Profits MSFT Sales MSFT Profits Mar end 2011 $24.7B $6.0B $16.4B $5.2B Jun end 2011
Apple vs Microsoft Blowout Quarters Read More »
How far has President Obama moved to the right? During the course of the Debt Ceiling debatehe slip streamed in not Elizabeth Warren but Richard Cordray as head of the Consumer Financial Protection Bureau. True, he let Elizabeth do all the ground work setting up the agency almost to the very last week; but on
Obama Abandons Elizabeth Warren Read More »
The Republican party is built on a smorgasboard of special interests which are often at polar opposites. Here are a few examples: Immigration hardliners vs Small businesses on accommodating migrant workers Military Industrial Corporates vs Tea Party Deficit Hawks on spending cuts and war adventurism Tea Party Deficit Hawks vs Wall Street Financiers on Debt
Republican Party Is Fragmenting Read More »
Yesterday, Fed Chairman Ben Bernanke suggested in testimony to Congress that QE3, a third round of quantitative easing, may be required if the economy falters. The US stock markets immediately rallied with a gain of 100 points on the DJIA being typical. Easy money would continue from the Fed with no strings attached. The flawed
QE3 – Trickling Down Nonsense Read More »
News Corp International is the name of Rupert Murdoch’s media empire that stretches from his native Australia [owning many of the largest Australian newspapers] thru Europe with many interests based in England [including Harpers Collin Book Publishing, Sky Italia and other Sky TV networks, several newpapers including the Sunday Times and the just now defunct
As Murdoch’s News Empire Crumbles: Rule of Law Implications Read More »
For the past ten years the Republican Party has been embracing dubious policies that are ever more weakening to the whole country. One notion is that the US tax burden is odious and one of the worst in the world. The second notion is that the public can be duped on hard to understand policy
Republican Irrationality: Embracing the Dubious Read More »
This blog has been arguing that the Republican Party has over the past thirty years been engaging in deliberately irrational policies. It started with Ronald Reagan’s approval of the enticingly treasonous “Starve the Beast” government spending policy. Starve the Beast condones government spending increases which are not paid for by tax increases or spending cuts
Republican Irrationality: US Budget Deficit Math Read More »
Declaring Google+ the Best Software of 2011 may appear a bit premature. Google Plus/Google+ has provoked a lot reactions on the Net. There has been a lot of positive reviews but also some notable nays. Nonetheless, there are at least 7 very compelling reasons why Google + is the best software introduction of 2011. However,
Google Plus Best Software of 2011 Read More »
Update as of July 16,2011: See the resignation of Les Hinton as WSJ CEO due to his role as head of Murchoch’s News of the World during its most scandalous period of phone hacking and police bribes which Les claims he was unaware of. Also see NYTimes Joe Nocera with his own mea culpa for
WSJ’s Sins of Omission and Commission on Budget Deficits Read More »
The Wall Street Journal today gives a fascinating peek at what concerns the Street as the US budget deficit negotiations continue in Washington. Here is the WSJ video backdrop: As the country watches a game of Budget Chicken with far reaching implications, the Journal tells what it takes to own a private jet, whether their
A Peek at Wall Street Read More »
The following two reports shows whats ail the US. The first is an example from the Washington side of the fence. Representative Eric Cantor, lead negotiator for the Republicans in the House has investments in an ETF -Exchange Traded Fund which will go up significantly if the Budget negotiations with the Obama Administration falter or
NYTimes has a good article about Mitch’s Daniel’s Indiana and some of the heart rending tradeoffs Daniels has had to make in the face of recessionary winds: “People think great business climate, Indiana comes to mind. People think infrastructure, we’re exactly who they think of.”Because recessionary winds have not toppled Indiana’s house, this state is
Mitch Daniel’s Indiana – Facing National Decline Read More »
What is long over due from John Q. Public is a revolt against the Banksters But there are signs that the public is doing “a Network” against the Elite Powers That Will Be Damned Until John Q. Says No!”. Here is what is happening in the Capital 1 takeover of ING Direct banking. First the
Whats Long Overdue From John Q. Read More »
China is starting to lose its low cost wage advantage. And it is not due to the revaluation of the yuan but rather, increasing inflation within the country. Here are three report that detail the situation: American Machinist – Survey says China is losing its manufacturing edge east2point6billion.com – Will China lose its cost advantage
China Losing Low Cost Wage Advantage Read More »
[js] Cost of Living Calculator Salary Calculator [/js] Payscale offers a number of economic and employment savvy widgets for inclusion on your website. The following is an example; just fill in the data with fictitious values to see how it works. Be prepared for an ugly surprise; like a Bankster offering you a low, low
Payscale’s Economic Widget Read More »
There is a growing unrest that sees President Obama badly overshooting his Centrist tendencies and becoming a Republican. Ye Editor has raised the issue most recently with Race to the Bottom: Obama Curries Wall Street Favors. But Huffington Post’s Drew Westen has done the careful spadework and here is a sampler of an essay laced
The 3rd Wing of the Republican Party: President Obama Read More »
In a city blessed with self-declared supernatural beauty and host to a slightly damp but most civil and memorable Winter Olympics just a year ago, what was behind the Vancouver riots after the Canucks lost the Stanley Cup Finals to Boston? Was this a case of professional nihilist and hooligans as advanced by the Vancouver
Vancouver Riots June 2011 Read More »
