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

Don’t Worry: Here’s These Pieces of Paper In Exchange For Your Destroyed Life Savings
Bill Quick

US Deposits In Perspective: $25 Billion In Insurance, $9,283 Billion In Deposits; $297,514 Billion In Derivatives | Zero Hedge Earlier today, the American Banking Association reminded Americans that there is absolutely nothing to worry about when it comes to the … Continue reading

“Nice business you have there. Be a shame if something should happen to it.”
genes

Not that we didn’t expect this from O’s Chitown machine. Holder Goes After that Agency that Downgraded U.S. Credit Rating The Justice Department today announced a lawsuit against the credit rating agency “in our ongoing efforts to protect the American … 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

If I fool you once, shame on me. If I fool you twice, shame on you. If I fool you every freaking time, you must be some sort of idiot.
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The financial chattering class looks to be flogging the old wiener under their desks while reporting that the Dow is up over 200 points on the basis of a somewhat cryptic (my opinion, probably sounded better in the original European … Continue reading

Footsteps On The Rhine: A New Europe Is Born
nemo paradise

Game’s over. Yesterday, Europe finally came to its senses and redefined itself for the next hundred years. Essentially: 1. Germany will lead the formation of a common fund backed by all European credit for all current sovereign debt exceeding 60% … Continue reading

Is History Repeating Itself, Or Is It Just Stuttering?
nemo paradise

I have spent many, many hours now reading and re-reading a section of a very interesting book that does not attempt to predict the future — in fact, the book was written in 1990 by Ron Chernow and it’s called … Continue reading