Archives for April 2012

Ritholtz: America Is So Not In Decline

Barry Ritholz on with Henry Blodget and Aaron Task, discussing why America is not doomed. Barry's sounding very optimistic. Ritholtz: America Is So Not In Decline   After five years of financial crisis followed by economic frustration, many Americans are starting to believe that the country's best years are behind it and that we're starting […]

Starbucks Removes Beetle-Based Coloring

Glad I wasn't a big fan of the strawberry frapps! Starbucks said it would stop using cochineal beetles to color its strawberry Frappuccinos and switch to a tomato-based food coloring. What do you think?   "It's a shame they can't just make a strawberry Frappuccino out of some kind of naturally red fruit."  Penny Emge, Systems […]

Getting Out, Part One: Americans Renouncing Citizenship

Courtesy of John Rubino. Capital, like information, wants to be free. The idea that it should be limited to one country has always struck rich people as silly, which is why Swiss bank accounts, offshore trusts and Caribbean beachfront condos have been perennial big-sellers. But lately, the legitimate reasons for investing overseas have been joined […]

Why We've Never Left The Recession

Courtesy of Jim Quinn from The Burning Platform We've Never Left The Recession It is three and a half years since the Great Recession hit in 2008 with the collapse of our financial system caused by the Wall Street banks and their captured politician cronies in Washington D.C. Their mouthpieces in the mainstream media have been […]

The New Drug of Choice In The White House, Federal Reserve and Treasury: Delusionol ™

Courtesy of Charles Hugh Smith from Of Two Minds The New Drug of Choice in the White House, Federal Reserve and Treasury: Delusionol ™ If you just want to suppress the symptoms but leave the financial disease untouched, Delusionol ™ is the drug of choice. Inside sources are reporting that there's a new drug of choice […]

What the “Bernanke Hall of Mirrors Put” Looks Like in the Real Economy

Courtesy of Russ Winter of Winter Watch at Wall Street Examiner “The world over, governments and central banks are waging war on supply and demand- on the price mechanism.”  – James Grant, interview here starts at 4:30 On the real economy and the hopium hates details front, fuel demand is down, and aircraft, like autos,  is […]

Hopium Hates Details

Courtesy of Russ Winter of Winter Watch at Wall Street Examiner "The world over, governments and central banks are waging war on supply and demand- on the price mechanism."  – James Grant, interview here starts at 4:30 On the real economy and the hopium hates details front:, fuel demand is down, and aircraft, like autos, is in a huge […]

OCCUPY HISTORY

OCCUPY HISTORY: A SHORT FILM ON THE IMPORTANCE OF DIRECT AND NON-VIOLENT ACTION Posted by Paul Gallagher   Occupy History is videographer Paul McIsaac‘s short film on the importance of direct, collective and non-violent action – from the first occupy movement (the Bonus Army of World War One veterans, who marched and occupied Washington DC in 1932), to the Flint […]

The Koch Brothers Exposed

If the Koch brothers didn't exist, the left would have to invent them. They're the plutocrats from central casting – oil-and-gas billionaires ready to buy any congressman, fund any lie, fight any law, bust any union, despoil any landscape, or shirk any (tax) burden to push their free-market religion and pump up their profits.     […]

Social Security Has A Real Problem

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. Submitted by Lance Roberts of Street Talk Live, The Social Security Administration made an alarming announcement recently that they will exhaust their funding capability by 2033 which was several years earlier than originally projected.   According to a recent article from Reuters:  "Unless Washington politicians, […]

Wall Street Tracks ‘Wolves’ as May 1 Protests Loom

The world’s biggest banks are working with one another and police to gather intelligence as protesters try to rejuvenate the Occupy Wall Street movement with May demonstrations, industry security consultants said. Among 99 protest targets in midtown Manhattan on May 1 are JPMorgan Chase & Co. (JPM)and Bank of America Corp. (BAC) offices, said Marisa Holmes, a member […]

Mirabile Dictu! Goldman CEO Lloyd Blankfein Makes Case for Breaking Up Big Banks

Courtesy of Yves Smith at Naked Capitalism  Goldman seems to be making a renewed effort at PR in the wake of the letter by derivatives staffer Greg Smith accusing the firm of caring only about profits and treating customers as stuffees (“muppets” was revealed to be the new term of art). That observation probably came as no surprise […]

U.S. Financial System: Is It Finally Stable?

U.S. Financial System: Is It Finally Stable?  Bernanke comments raise questions about banks  By Elliott Wave International Four years after we brushed up against "financial Armageddon," did you think you'd be reading this? Federal Reserve Chairman Ben Bernanke said…banks need to have more capital at hand in order to ensure the financial system is stable. […]

Bernanke Calls Krugman "Reckless"; Krugman and Bernanke Both in Academic Wonderland Somewhere Deep in Outer Space

Courtesy of Mish  Paul Krugman is now so far into outer space with ridiculous economic proposals that even Helicopter Ben Bernanke recognizes Krugman's proposals as "reckless". Bloomberg reports Bernanke Takes On Krugman’s Criticism Ignoring Own Advice  Federal Reserve Chairman Ben S. Bernanke took on Nobel prize-winning economist Paul Krugman yesterday and called his advice to reduce unemployment […]

Ultimate Irony- Major Life Insurance Firms Settle with State AG’s

Ultimate Irony- Major Life Insurance Firms Settle with State AG’s  Courtesy of Dr. Paul Price (at Real Money) MetLife, Prudential and John Hancock agreed to pay $40 MM, $17 MM and $12 MM respectively to make a multi-state probe go away. These companies were routinely cross-checking Social Security death records to prevent recurring annuity benefit […]

IS NETFLIX DOOMED?

For a while, Netflix seemed like the smartest tech company around. Searching for movies online was easy; mailing them back off-line was cathartic. The company constantly tweaked its red envelopes, trying to create one that you could open while tipsy and seal one-handed while late for work. Customers were treated with respect. If you sent […]

UK Back in Recession, Did it Really Ever Leave? Disappointing Details; Five Reasons the UK Recession Will Get Much Worse

Courtesy of Mish It is amusing to watch economists toss around ridiculous terms like "technical recession" to justify their poor forecasts. The entire eurozone is now in recession and the UK was sure to follow because so much of its trade is with the eurozone. This was easy to predict, yet few did. The Mail Online […]

84% of All Stock Trades Are By High-Frequency Computers…Only 16% Are By Human Traders

Courtesy of ZeroHedge. View original post here. Submitted by George Washington. As of 2010, 50-70% of all stock trades were done by high frequency trading computer algorithms. And many other asset classes are dominated by high frequency trading as well. High-frequency trading distorts the markets.  And see this and this. And it lets the big banks […]

H.L. Mencken Was Right

Courtesy of Jim Quinn from The Burning Platform H.L. Mencken Was Right “I believe that it is better to tell the truth than a lie. I believe it is better to be free than to be a slave. And I believe it is better to know than to be ignorant.” – H.L. Mencken   H.L. Mencken […]

Bailout of the US Postal Service Begins: Cost to Taxpayers – $110,000 Per Union Vote "Saved Or Gained"

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. A week ago, when reading between the lines of what had heretofore been considered an inevitable USPS episode of austerity in which hundreds of thousands of labor union workers would lose their jobs but in the process would streamline a thoroughly outdated and inefficient […]

Mad Cow: the Costs of Trying to Keep Costs Down

Courtesy of ZeroHedge. View original post here. Submitted by testosteronepit. Wolf Richter   www.testosteronepit.com “The US is one of two major beef-exporting countries with no comprehensive traceability system,” said Erin Borror, an economist at the US Meat Export Federation, which had commissioned a study to assess the implications of traceability for international markets. The other country, […]

U.S. Home Values Post Largest Monthly Gain Since 2006; Majority of Markets Forecasted To Hit Bottom by Late 2012

U.S. Home Values Post Largest Monthly Gain Since 2006; Majority of Markets Forecasted To Hit Bottom by Late 2012 – Zillow Real Estate Research By Stan Humphries Zillow’s first quarter Real Estate Market Reports, released today, show home values decreased 0.5 percent from the fourth quarter of 2011 to the first quarter of 2012 to $146,200 […]

Omaha & Bubbles

Courtesy of Vitaliy Katsenelson I have to confess, I am tired of writing “structured” articles, the ones where I have to limit my thoughts to 800 words.  So with this email I am taking a break. This is an unstructured stream of thought, in no particular sequence. China bubble today vs. Japan bubble in 80s […]

So Long, US Dollar

Courtesy of Marin Katusa, Casey Research There's a major shift under way, one the US mainstream media has left largely untouched even though it will send the United States into an economic maelstrom and dramatically reduce the country's importance in the world: the demise of the US dollar as the world's reserve currency. For decades […]