Archive - Dec 7, 2010 - Blog entry

Thought we'd make an evergreen on zero hedge out of this discussion about the future of content with my composer brother Michael Whalen that we published today in The IRA. Happy, safe and prosperous New Year to all. Oh, and to my friends in Japan: "Tora! Tora!,Tora!"

Despite the recent stability, the funding shortfall faced by the 200 largest UK schemes has soared by 50% during the past four years, rising from an average of £55 billion during 2006 to one of £87 billion this year. But the government has a trick up its sleeve to wipe out a big chunk of these pension deficits...

In August 2009 the "Deadbeats" paid the loan IN FULL. But... BAC claimed to have received rights in the loan from Taylor Bean & Whitaker as of Sept 1, 2009. Notwithstanding that the loan was FULLY PAID, BAC attempted repeatedly to collect on the PAID OFF loan.

What should we make of all the WikiDrama?

“McCarthyism is Americanism with its sleeves rolled.”--Joe McCarthy

You can't say I didn't tell you it was gonna happen! At this point, anyone who doubts the onslaught of Android is in sheer denial. My last post on Wikileaks highlighted the possibilities truly distributed computing such as Android promises in the form of making it virtually impossible to censor any type of web site or publication, ex. Wikileaks. Keep in mind such a feat would be quite difficult with iPhones.

We hosted an investor call last week, followed by our presentation at a Private Wealth Summit on The Great ‘flation Debate. Our slides can be accessed

A new study forecast 1.3 million white collar professional jobs could be offshored by 2014. This offshoring tsunami, a stubborn U.S. labor market, plus QE3, which has proven ineffective at job creations, are brewing a perfect storm for stagflation.

This albatross is going to weigh on us in 2011.

The problem with the deficit commission's recommendations is that it's assumed deficits exist due to a lack of revenues, rather than a government that does to much. But the tax simplification achieved through the abolishment of deductions is pro-growth, and will wake the half of the country up that doesn't pay for the cost of government

Anyone doubting that the powers that be are getting desperate to maintain stock prices should consider that announcements of Bailout Ben Bernkanke’s appearance on 60 Minutes and his proposed claim that he may increase QE 2 was enough to kick off a 3+% ramp job in stocks last week.

Regardless of this mindlessness, Bernanke’s appearance did offer us a glimpse into his thinking or lack thereof. Many commentators have been stunned by his assertion that he is “100% certain” he can control inflation. I wasn’t. After all, Bernanke’s been nothing if not 100% certain of himself while being 100% wrong for the last five years.

For those who don't specialize in sovereign state financial models, I have broken down the anatomy of the inevitable Portugal default into a few simple graphs with direct comparisons to the Argentina default and restructuring. As the equity markets drink the liquidity elixirs, the debt markets are about to enter the greatest string of sovereign defaults in recent history. Many of my next few posts will provide a clear road map of the event. Move over Dancing with the Stars!

Price stability is the new fad among Fed critics who understandably want to see its mandate reduced. The problem is that even if the Fed could engineer price stability, this would be very economically damaging. Prices gyrate with regularity, and their movements tell producers what we want more and less of. If the Fed is to be given any mandate it should be one in favor of dollar-price stability. Nothing more than that.

The American Dream is dead, and we are responsible. Yes, I know what you are thinking. How can I possible say this when corrupt politicians and even more corrupt bankers are responsible for killing the American Dream? Of course I acknowledge this fact, but without our willing, gleefully ignorant participation in their “Death Race to the Bottom 2014” game, the death of the American Dream would not be possible.

If any Fed asks you who is WilliamBanzai7, just say WTF...