Category Archives: Patience is a virtue…Delusion is a vice

Great-est Depression???

This forecaster is saying something that I thought was just common sense and I mentioned a year ago or more. That is to say, without a vibrant middle class to effect the necessary 70 % consumption that represented the bulk … Continue reading

Posted in Back to the basics, Coup d'etat in America, Death of the Dollar, Let's Call What It Is - DEPRESSION, Our phony middle class, Patience is a virtue...Delusion is a vice, Small Business-Bedrock of America, TARP fruit loops, The American Financial Oligarchy, The End of American Capitalism As We Know It? - Discuss, The Financial Elite, The Intrusion of UNLAWFUL Authority, The Obama OMG magic factory, The Sorry State Of American Manufacturing, The Suffering Poor, The excellent adventures of Ben Bernanke, US Trade Imbalance, USA Is the New Japan, Unemployment Catastrophe, Unintended Consequences, We Have Become Beggars To The World | Leave a comment

The Committee to Defraud the World

To say now that ‘No one knew’ or ‘I was mistaken’ or ‘I was just doing as I was told’ is another in a series of lies and deceptions that have supported one of the greatest frauds in the history … Continue reading

Posted in A Moral Question - Not A Political One, A Shareholder-Not Just a "Stakeholder", A Time To Repent, AIG and all that....., Analysis & Commentary, Bilderbergers 1 USA 0, Collateral Damage, Coming Social Unrest, Consumption Ran the Old Economy, Coup d'etat in America, Death of the Dollar, Deflation-Inflation-Stagflation, Devaluation, Did they ever hear of GAAP?, Dismal Science-Ignorant Scientists?, Economic Analysis Isn't Science, Even the Terminator Can't Help California, Goldman: Underwriter or Undertaker?, Greenspan is kind of stupid, Insolvency, It Is Supposed to be a Republic!, Jacksonian Democracy, Let's Call What It Is - DEPRESSION, Moral Hazard, No Bank Is Indispensable, Obama's Hypocrisy, Our phony middle class, Patience is a virtue...Delusion is a vice, Small Business-Bedrock of America, Smaller Can Be Better, Social Security Time bomb, Socialism, TARP fruit loops, The American Financial Oligarchy, The Arrogance of Power, The Consequences of Greed, The End of American Capitalism As We Know It? - Discuss, The Financial Elite, The Importance of Strategic Planning, The Inherent Disorder of Empires, The Intrusion of UNLAWFUL Authority, The Judeo-Christian Political Coalition, The New American Socialism, The Obama OMG magic factory, The Sorry State Of American Manufacturing, The Suffering Poor, The excellent adventures of Ben Bernanke, Those Quarky Accounting Rules, Time For A New Third Party, Truth In Charity, USA Is the New Japan, Unemployment Catastrophe, Unindicted Co-Conspiritors, Unintended Consequences, Wage Deflation, We Have Become Beggars To The World, Who Guarantees the Guarantor?-You Do!, Who owns Congress-Still!, Why is the first Black President incompetent? | 1 Comment

Playing The Market Plunge

investors should marshal their cash smartly. For a decade or more, Wall Street’s financial-planning machinery has claimed to have optimized the investing equation and boiled it down to simple calculations encouraging investors to abide by asset-allocation models heavy reliant on … Continue reading

Posted in Market Strategies, Negative Cash Flow, Patience is a virtue...Delusion is a vice | Leave a comment

Washington Possessed

My Nov. 10, 2008 column warned that big government was walking away as the knockout winner over the private sector in the financial crisis. But it’s going much further than I’d feared. The federal government has accelerated its takeover of … Continue reading

Posted in Collateral Damage, Constitutional Questions, Consumption Ran the Old Economy, Deflation-Inflation-Stagflation, Jacksonian Democracy, Larry Summers, News & Analysis, Obama's Hypocrisy, Our phony middle class, Patience is a virtue...Delusion is a vice, Political Chaos, We Have Become Beggars To The World, Who owns Congress-Still!, “the Greenspan doctrine” | Leave a comment

Howdy, Neighbor!

When asked what advice he would give to residents of Ashtabula County Ohio because of cutbacks in official law enforcement budgets, Judge Alfred Mackey said they should: “arm themselves. Be very careful, be vigilant, get in touch with your neighbors, … Continue reading

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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

ECONed: Sic Transit Gloria Americanus

Richard Smith, a London-based capital markets information technology manager, was kind enough to provide an advance copy of his review for the book ECONned: How Unenlightened Self Interest Undermined Democracy and Corrupted Capitalism by Yves Smith, the author of the … Continue reading

Posted in A Saturday Break, A State of Distress, Analysis & Commentary, Bilderbergers 1 USA 0, Book Reviews, Patience is a virtue...Delusion is a vice, The Consequences of Greed, The End of American Capitalism As We Know It? - Discuss, The Financial Elite, The Geithner Resignation Watch, The Global Economy, The Inherent Disorder of Empires, The Intrusion of UNLAWFUL Authority, The Suffering Poor, The excellent adventures of Ben Bernanke, Unindicted Co-Conspiritors, We Are All Cooked, We Are All Guilty, We Have Become Beggars To The World, What Is An Investment Asset?, Who Guarantees the Guarantor?-You Do!, Who owns Congress-Still!, “the Greenspan doctrine” | Leave a comment

Sic transit America?

Flagging: a US sailor stands on the flight deck of the aircraft carrier USS George Washington If a week is a long time in politics, a decade is starting to look like an age in geopolitics. Comparing the America that … Continue reading

Posted in A Growing List Of One Term Presidents, A State of Distress, A Time To Repent, AIG and all that....., Back to the basics, Collateral Damage, Coming Social Unrest, Commercial Real Estate Bust, Consumption Ran the Old Economy, Coup d'etat in America, Death of the Dollar, Deflation-Inflation-Stagflation, Devaluation, Dismal Science-Ignorant Scientists?, Even the Terminator Can't Help California, Federal Reserve-Discussion, Figures don't lie but Liars can figure, IT'S ALL ABOUT POWER AND MONEY, Integrity and Responsibility, Is The Market Rally Real?, It Is Nice To Be Part of the Elite!, It starts with a foundation, Monetary Policy - Discussion, Our phony middle class, Patience is a virtue...Delusion is a vice, Political Chaos, Politicians, Prostitutes and Pimps All Rhyme, Small Business-Bedrock of America, Sub-Prime anytime, TARP fruit loops, The Arrogance of Power, The Consequences of Greed, The Democrats Blew It Again, The End of American Capitalism As We Know It? - Discuss, The Financial Elite, The Global Economy, The Habits of Hedge Funds, The Importance of Strategic Planning, The Inherent Disorder of Empires, The Intrusion of UNLAWFUL Authority, The Judeo-Christian Political Coalition, The New American Socialism, The Sorry State Of American Manufacturing, The excellent adventures of Ben Bernanke, Time For A New Third Party, Truth In Charity, US Trade Imbalance, USA Is the New Japan, Unemployment Catastrophe, We Are All Cooked, We Are All Guilty, We Have Become Beggars To The World, “the Greenspan doctrine” | Leave a comment

The Demonic Religion of Abortion

It’s getting more and more obvious. Last week, in two separate incidents, those favoring abortion set forth their goals and services in religious language. During a December 2nd “Stop Pitts” rally in Washington and in new video advertisements for a … Continue reading

Posted in A Growing List Of One Term Presidents, A Moral Question - Not A Political One, A State of Distress, Patience is a virtue...Delusion is a vice | Leave a comment

Operation Rollback: Wal-Mart’s World of Business

The expansion of international “supply chains” from Asian factories to American consumers has certainly created global trade imbalances and international currency flows that are not necessarily sustainable over the long run. A readjustment of the world economy, not a slackening … Continue reading

Posted in A Shareholder-Not Just a "Stakeholder", A State of Distress, Back to the basics, Book Reviews, Important Skills - No Apprentice Programs, Market Strategies, Our phony middle class, Patience is a virtue...Delusion is a vice, Strategizing Suppy Chain Links, The End of American Capitalism As We Know It? - Discuss, The Importance of Strategic Planning, The Inherent Disorder of Empires, The Sorry State Of American Manufacturing, US Trade Imbalance, Unemployment Catastrophe, Unindicted Co-Conspiritors, Wage Deflation, Watch The China Market, We Are All Cooked, We Have Become Beggars To The World | 1 Comment

Our secret government

“When an unprecedented amount of taxpayer dollars were lent to financial institutions in unprecedented ways and the Federal Reserve refused to make public any of the details of its extraordinary lending, Bloomberg News asked the court why U.S. citizens don’t … Continue reading

Posted in IT'S ALL ABOUT POWER AND MONEY, Monetary Policy - Discussion, Patience is a virtue...Delusion is a vice, TARP fruit loops, The Arrogance of Power, The Financial Elite, The Geithner Resignation Watch, The Joy of Being A Bank, The excellent adventures of Ben Bernanke | Leave a comment

Socialism in America

Socialism in America A great deal has been made in recent weeks about Ronald Reagan‘s critique of nationalized or socialized health care from 1961: We can go back a bit further, though, and take a look at an intriguing piece … Continue reading

Posted in A Growing List Of One Term Presidents, A Picture Is Worth A Thousand Words, A State of Distress, A Time To Repent, Coup d'etat in America, Integrity and Responsibility, It Is Nice To Be Part of the Elite!, Obama's Hypocrisy, Our phony middle class, Patience is a virtue...Delusion is a vice, Socialism | Leave a comment

The recovery puzzle’s missing piece

Eric Sprott, a veteran fund manager and researcher based in Toronto, believes the buyers are in la-la land when it comes to interpreting economic data emanating from the world’s largest economy. A few of his salient points include: A prolonged … Continue reading

Posted in A State of Distress, Patience is a virtue...Delusion is a vice | Leave a comment

Securitization was maddeningly complex. Mandated transparency is the only solution.

With so much complexity, and uncertainty about future performance, it is not surprising that the securities are difficult to price and that trading dried up. Without market prices, valuation on the books of banks is suspect and counterparties are reluctant … Continue reading

Posted in Audit the auditors?, Bank Failures, Cash Flow, Deleveraging, Did they ever hear of GAAP?, Lending Crisis, Negative Cash Flow, No Bank Is Indispensable, Our phony middle class, Patience is a virtue...Delusion is a vice, Political Chaos | Leave a comment

Obama’s Economic Box

Despite the administration’s aggressive and costly economic policy initiatives, there is trouble all around. Barely six months in office, President Obama already finds himself in an economic box. For despite his aggressive and costly economic policy initiatives, the jobs market … Continue reading

Posted in A Growing List Of One Term Presidents, A State of Distress, Coming Social Unrest, Death of the Dollar, Deflation-Inflation-Stagflation, Deleveraging, IMF Issues - Discussion, Let's Call What It Is - DEPRESSION, Obama's Hypocrisy, Our phony middle class, Patience is a virtue...Delusion is a vice, Political Chaos, The End of American Capitalism As We Know It? - Discuss, The Global Economy, The Importance of Strategic Planning, The excellent adventures of Ben Bernanke, Truth In Charity, Unemployment Catastrophe, Unindicted Co-Conspiritors, We Have Become Beggars To The World, Who Guarantees the Guarantor?-You Do! | Leave a comment

We’ve Wiped Out All The New Jobs Of The 21st Century

What’s the best way to express just how bad the job market is? You could look at the soaring unemployment rate, or perhaps the ever-shortening work week. How about this: Total nonfarm payrolls, notes economist James Hamilton, are now back … Continue reading

Posted in A Growing List Of One Term Presidents, A Picture Is Worth A Thousand Words, A State of Distress, Back to the basics, Coming Social Unrest, Deflation-Inflation-Stagflation, Our phony middle class, PANDEMIC, Patience is a virtue...Delusion is a vice, The End of American Capitalism As We Know It? - Discuss, The Global Economy, The Importance of Strategic Planning, The New American Socialism | Leave a comment

The end of the recession will merely be the start of a long, painful journey, says Edmund Conway.

t’s a game of far more than two halves: more tactical than cricket, more stomach-churning than boxing and more complex than bridge. Throughout a magnificent summer of sport, one competition has lasted longer than any other, and generated the most … Continue reading

Posted in Important Skills - No Apprentice Programs, Insolvency, Integrity and Responsibility, Let's Call What It Is - DEPRESSION, Negative Cash Flow, No Bank Is Indispensable, Our phony middle class, Patience is a virtue...Delusion is a vice, The Importance of Strategic Planning, The New American Socialism, The Sorry State Of American Manufacturing, Truth In Charity | Leave a comment

Bilkers, suckers and Wall Street atrocities – Is Madoff Really Worse Than Fuld?

Somewhere back around 1946 or 1947, Nick Etten–by now a pretty much forgotten first baseman for the Yankees–signed a one-year contract in the amount of $15,100. This sum struck many observers as an odd number, but not one canny New … Continue reading

Posted in Audit the auditors?, Back to the basics, Madoff Scam, Patience is a virtue...Delusion is a vice, The Financial Elite, The Importance of Strategic Planning | Leave a comment

Say that ten times – a convincing mantra

So maybe we could summarize the recent strength in the leading economic index this way. The main reason we think the economy is improving is because many of us think the economy is improving. I Think The Economy Is Improving, … Continue reading

Posted in Let's Call What It Is - DEPRESSION, Patience is a virtue...Delusion is a vice, The excellent adventures of Ben Bernanke | 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

Kool-Aid Drinkers Survive Financial Overhaul

June 19 (Bloomberg) — President Barack Obama doesn’t need to just overhaul financial regulation. He needs to exorcise the ghost of Alan Greenspan. For far too long, regulators weren’t willing to regulate, inspired by the view of the former Federal … Continue reading

Posted in A Growing List Of One Term Presidents, Analysis & Commentary, Patience is a virtue...Delusion is a vice | Leave a comment

Forgetting What We Learned

ILLITERACY IN HIGH PLACES by Paul Craig Roberts If a person lives long enough, he can watch everyone forget everything they learned. Everyone includes Federal Reserve Chairmen, economists, Bank of America “strategists,” and even Bloomberg.com. Federal Reserve Chairman Ben Bernanke … Continue reading

Posted in A State of Distress, Back to the basics, China and the Treasuries - A Dependency Relationship, Coup d'etat in America, Death of the Dollar, Deflation-Inflation-Stagflation, Global Trade, Insolvency, Interest Rates, Let's Call What It Is - DEPRESSION, Libertarianism - the Debate, Negative Cash Flow, Our phony middle class, Patience is a virtue...Delusion is a vice, Political Chaos, The End of American Capitalism As We Know It? - Discuss, The Importance of Strategic Planning, The New American Socialism, The Rand Gene, The Sorry State Of American Manufacturing, The excellent adventures of Ben Bernanke, US Trade Imbalance, Unemployment Catastrophe, Wage Deflation, We Have Become Beggars To The World | Leave a comment

indicators show the economy turning around…..but

The signs of a V-Shaped economic recovery are all around, for anyone willing to see. New claims for unemployment insurance have been trending down, despite unprecedented layoffs in the auto sector. Home sales have started to climb from the lows … Continue reading

Posted in Investment Strategies, Is The Market Rally Real?, Market Strategies, Our phony middle class, Patience is a virtue...Delusion is a vice | Leave a comment

Beggars Are We All…..

http://jessescrossroadscafe.blogspot.com/ Bernanke’s wager is on a virtual free lunch by printing money. “Fed chair Ben Bernanke has long argued that central banks can bring down long-term borrowing rates by purchasing bonds “at essentially no cost”. His frequent writings rarely ask … Continue reading

Posted in Insolvency, Integrity and Responsibility, Let's Call What It Is - DEPRESSION, Negative Cash Flow, Patience is a virtue...Delusion is a vice, Political Chaos, Sub-Prime anytime, The End of American Capitalism As We Know It? - Discuss, The Financial Elite, The Geithner Resignation Watch, The excellent adventures of Ben Bernanke, We Have Become Beggars To The World | Leave a comment