Archive - Sep 2012 - Blog entry

And Unemployment and Inequality Are Worse Than During the Recession

The acquisition of CRBC by FMER provides a stark illustration of the fundamental conflict between the Fed’s “dual mandate” and its legal responsibility to supervise the nation’s banks. 

If you live long enough—knock on wood—pretty soon it’ll add up to real money.

Today's Zero Hedge articles in audio summary! "Bernanke's announcement made me QE in my pants. Now featuring revised grammar!" Everyday @ 8pm New York Time! 

The Fed panicked. It is extraordinary that the Fed would announce an open-ended "we'll print as much as it takes, as long as it takes" policy. Chairman Bernanke is sending a signal to the markets and to government that the economy is bad and getting worse and that the Fed will do its part as everyone expects them to do. This is a clear signal to the markets and the world that the Fed stands for monetary inflation. They don't know what else to do. Here is the fallout.

We don't make these things up...

Welcome to the Fed’s Weekend at Bernie’s ...

I gain nothing from pretending that I’m right when I’m not. And while I hate being wrong, I’m not going to ignore this fact and try to simply move on as though none of this has happened.

The reality is that we’re now facing a Crisis that will make 2008 look like a picnic. That Crisis will come when sovereign nations begin defaulting. The most likely candidate is Spain who refuses to ask for a bailout because it doesn’t want anyone looking too closely at its books because the entire Spanish baking system is insolvent beyond belief.

Norman Bernanke: "I think I must have one of those faces you can't help believing."

Rolling up community banks with mid-single digit ROEs and flat to up small revenue growth does not strike this analyst as a very compelling opportunity 

Unelected bureaucrats, politicians, and bankers

Today's ZeroHedge articles in audio summary! Video link now working! I apologise for the trouble!

Pumpin' iPhones...