Archive - Nov 29, 2010 - Blog entry

Hells yeah, Money McBags is back from his Thanksgiving break where he basted some turkeys, watched consumers run up more debt during Black Friday sales that they won't be able to pay off until the dollar hyperinflates to whatever is just below infinity (perhaps Bernankity), and furiously read...

Canadian university pension plans have fallen into a collective $2.6-billion hole, and may have no choice but to cut services to begin climbing back out of it. And US university pension pans aren't faring better...

I am posting these two videos because I am sure they can be put to excellent use by those of you who want to help someone else understand exactly what happened and what is now happening with regard to Wall Street and the housing meltdown.

Let's make sure this is done right ...

While this data point is of interest, I would always ask the question: why use something if it doesn't work?

The bailout of Ireland is destined to for failure, or it fails to solve the issues that have brought it about. The amount of debt in comparison to likely future GDP Ireland is mired in is literally staggering, and that's without the little secret slipped passed some in whispers and fine print in regards to the so called bailout.

I honestly cannot tell you who is the more vile, despicable villain in this debacle. Is it the banks, who started this mess with their idiotic lending practices? Is it the lobbyists and lawmakers, who turned Ireland into a tax haven for EU Corporations and destroyed the economy by funneling tax breaks to the wealthy? Is it the Irish Government,... Is it the bondholders,...

The negative incentive effects of unemployments are well known. What's maybe not discussed enough are the less visible effects of jobless benefits, which include reduced productivity on the job, not to mention reduced savings thanks to it being known that unemployment brings with it a check from the government

Can a US Dollar rally overcome the Bernanke put? We’ll find out this week. We have a total of six POMOs this week (two today and one every other day). So the Fed will literally be juicing the market by $6-9 billion EVERY day this week. If stocks can’t remain afloat in the environment and the US Dollar strength continues, then the markets are heading into some VERY DARK times in the near future.

Why do people believe such ridiculous things?

The map is the territory...

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