Category Archives: History of Finance

Greenspan helps create the problem and then explains it?

Washington’s Blog Greenspan’s big defense is that the financial crisis was caused by a “once-in-a-century” event. Forget about the fact that the “once-in-a-century event” couldn’t have happened if Greenspan’s Fed hadn’t: Turned its cheek and allowed massive fraud Acted as … Continue reading

Posted in Greenspan is kind of stupid, History of Finance, IT'S ALL ABOUT POWER AND MONEY, It Is Nice To Be Part of the Elite!, Jacksonian Democracy, Monetary Policy - Discussion, Moral Hazard, Obama Bingo, Our phony middle class, Patience is a virtue...Delusion is a vice, Politicians, Ron Paul Stands Tall, TARP fruit loops, The Arrogance of Power, The Bear Facts, The Consequences of Greed, The Global Economy, The Importance of Strategic Planning, The Intrusion of UNLAWFUL Authority, The excellent adventures of Ben Bernanke | Leave a comment

The Nature of Modern Finance

Is modern finance more like electricity or junk food?  This is, of course, the big question of the day. If most of finance as currently organized is a form of electricity, then we obviously cannot run our globalized economy without … Continue reading

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American Socialist State

President Obama’s visit to Moscow this week may turn out to be a very good thing. Forget all this jibber-jabber about nuclear disarmament. There is no better reminder than the former Soviet Union for how the fantasies of a few … Continue reading

Posted in Coup d'etat in America, History of Finance, It Is Nice To Be Part of the Elite!, Libertarianism - the Debate, Our phony middle class, Political Chaos, The New American Socialism | Leave a comment

Is inflation our next big worry?

Why inflation is around the corner The government wants inflation to some degree. Congress and the White House have spent nearly $3 trillion recapitalizing U.S. banks, revamping the domestic manufacturing industry and replacing a portion of the consumption spending Americans … Continue reading

Posted in Coming Social Unrest, Coup d'etat in America, Death of the Dollar, Deflation-Inflation-Stagflation, History of Finance, How do you dampen the inflation dragon?, Patience is a virtue...Delusion is a vice, The Importance of Strategic Planning, Wage Deflation | Leave a comment

A Recession in Dog Years

Combine Japanese cultural tendencies toward formality, politesse, and indirection with the usual central banker’s love of opacity and econo-jargon, and you’d expect that a meeting with the Deputy Governor of the Bank of Japan would be a one-way trip into … Continue reading

Posted in AIG and all that....., Analysis & Commentary, History of Finance, Is The Market Rally Real? | Leave a comment

Optimism Is Contagious

Diane Francis, Financial Post Published: Monday, June 22, 2009 American opponents to President Barack Obama’s announced reregulation of the financial sector are billing the issue as capitalism versus socialism or even communism. str_url = encodeURIComponent(location.href); str_title = encodeURIComponent(document.title); // Facebook function … Continue reading

Posted in Death of the Dollar, History of Finance, The End of American Capitalism As We Know It? - Discuss, The New American Socialism | Leave a comment

An Error In Judgment

The blunt fact is that the economic recoveries that have been rapid and seen fast growth in employment are those that ended when a central bank, following strongly restrictionary policies to fight inflation, eased off and significantly lowered interest rates. … Continue reading

Posted in Death of the Dollar, Dismal Science-Ignorant Scientists?, History of Finance, The End of American Capitalism As We Know It? - Discuss, The Financial Elite, The Geithner Resignation Watch, The Importance of Strategic Planning, The excellent adventures of Ben Bernanke | Leave a comment

Transparency: The Largest Bankruptcies in History

Last week, General Motors began the fourth largest bankruptcy proceedings in history, joining the many other large and venerable companies that have sunk to the bottom during this economic crisis. In fact, eight of the 20 largest bankruptcies have happened … Continue reading

Posted in History of Finance, Insolvency, Let's Call What It Is - DEPRESSION, Negative Cash Flow | Leave a comment

Obama and the Politics of Short Memories

It’s one thing for President Obama to face off against Fox News, the right-wing radio empire and Republican congressional leaders whose names are unfamiliar to much of the public. It’s quite another to confront organized business. That’s why last week’s … Continue reading

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Obama’s Plan For A Debt-Ridden Future

President Obama has officially begun the era of bigger big government by proposing to go on a multitrillion dollar borrowing spree that risks doing to the “full faith and credit of the United States” what excessive borrowing during the housing … Continue reading

Posted in A State of Distress, Coup d'etat in America, History of Finance, Important Skills - No Apprentice Programs, Jacksonian Democracy, Our phony middle class, Political Chaos, The Economics of Schumpeter | Leave a comment

Ending the Fed: the rebirth of Jacksonian bankphobia

Onetime presidential hopeful and current Republican congressman Ron Paul has an interesting piece of legislation wending its way through the US capitol. HR1206 calls for “a complete audit of the Federal Reserve and removes any significant barriers towards transparency in … Continue reading

Posted in History of Finance, Jacksonian Democracy, The Financial Elite, The Geithner Resignation Watch, The excellent adventures of Ben Bernanke, Who Guarantees the Guarantor?-You Do! | Leave a comment

It’s Official: Worst Recession in Five Decades

This recession is now the worst since at least 1958, which is as far back as the index of coincident indicators stretches back. The Conference Board reported today that the index, which is intended to measure how the economy is … Continue reading

Posted in Back to the basics, Coming Social Unrest, Coup d'etat in America, History of Finance, Insolvency, Integrity and Responsibility, Let's Call What It Is - DEPRESSION, Negative Cash Flow, Political Chaos, The End of American Capitalism As We Know It? - Discuss, The Financial Elite, The Geithner Resignation Watch, The Global Economy, The New American Socialism, The excellent adventures of Ben Bernanke, Those Quarky Accounting Rules, US Trade Imbalance, Unemployment Catastrophe, Wage Deflation, We Have Become Beggars To The World, Who Guarantees the Guarantor?-You Do! | Leave a comment

With U.K. AAA Rating In Jeopardy, Is U.S. Next?

The UK’s AAA-rating is at risk. (Bloomberg, MarketBeat, EconomPic Data, Zero Hedge) Bye, bye miss american pie….. Don’t wait…..buy Gold and Gold Mine Stocks!

Posted in China and the Treasuries - A Dependency Relationship, Coming Social Unrest, Coup d'etat in America, Death of the Dollar, Global Trade, History of Finance, How do you dampen the inflation dragon? | Leave a comment

Is The Federal Reserve Overreaching?

A good article at Forbes:     http://www.forbes.com/2009/05/19/federal-reserve-ron-paul-fdic-sec-opinions-columnists-bernanke.html

Posted in History of Finance, It Is Nice To Be Part of the Elite!, Patience is a virtue...Delusion is a vice, TARP fruit loops, The End of American Capitalism As We Know It? - Discuss, The Financial Elite, The Joy of Being A Bank, The excellent adventures of Ben Bernanke | Leave a comment

A New World Order

From the Economist: Birth Pains: A New Global System Is Coming

Posted in China and the Treasuries - A Dependency Relationship, Coup d'etat in America, Global Trade, History of Finance, The End of American Capitalism As We Know It? - Discuss | Leave a comment

THE FIRST TYCOON

Looking north at statue of Cornelius Vanderbilt at the head of the ramp to en:Grand Central Terminal on a sunny late morning A review at the NY Times:     http://www.nytimes.com/2009/05/10/books/review/Kazin-t.html?_r=1&ref=books Cornelius Vanderbilt spent little of his long life fretting over his … Continue reading

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