Even on ZeroHedge their sense of “history” is only 20 years
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ZeroHedge chronicles Latin American debt defaults “as far back” as 20 years ago. Latin America has been defaulting since the late 1800’s and it’s only accelerated as they became more and more socialist. To underline the connection between socialism and … Continue reading

Why must I be a Canary in a Coalmine?
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Detroit seems to be the first major city to head down the municipal road to hell. As I have noted before I think Meredith Whitney is correct, but early, on her municipal bankruptcy econogeddon. Looks like it will start at … Continue reading

How’s that GM bailout thingy working out?
genes

Apparently not so good. Will NY Federal Judge Overturn GM Bailout? Judges hate when litigants hide things from them, especially bankruptcy judges. Judge Robert E. Gerber is a United States Bankruptcy Judge for the Southern District of New York. Gerber … Continue reading

Is Meredith right, just early? Again.
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Meredith Whitney is a securities analyst who was negative on the banking sector, and Citi in particular, as early as 2007. At the time TPTB such as Bernanke were claiming the subprime problem was “contained”, so she was not just … Continue reading

Ho, Ho, Joe and Ha, Ha Hussein Financially Illiterate? Who Could Have Guessed?
Bill Quick

Former Biden Staffer Calls Biden And Obama ‘Financially Illiterate’ | The Lonely Conservative He is harshly critical of his own party and the Obama administration, arguing that the president is no different than most other Washington Democrats in his willingness … Continue reading

Modest, that’s me. Only my fantastic modesty prevents me from mentioning it.
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Concentrated Bull Shit has a story featured about TurboTax Timmy allowing as how maybe, just maybe the economy could possibly somehow be just the least little bit better. Away back yonder, I seem to recall that TurboTax Timmy simply had … Continue reading