He's in the process of ruining the country.
Sudden collapse in withholding taxes... so now we can get back to the normal state, where the government borrows more than expected.
DESIGNATED BEVERAGE FREE POST
If you listened to Ben Bernanke's testimony between last week and this week, you were told repeatedly that he is not worried about inflation.
Here are some charts that his analysts must have missed - Perhaps they're spending their time hanging out with the SEC boys surfing the web, but either way they should probably bring these to Ben's attention sooner rather than later.
Not Money's Reaction to Ben Today
So Now Is The Time To Get Your Financial Priorities In Order
Technical Question: How does one actually say "Shit Happens" in German?
I asked 10 Americans the question, "How is oil production going up in Alaska?" Nine said they do not know, and one said great. Here is the truth in my personal Chart of the Day.
If the people in this country had any balls (or actual leaders and not just the Corporate puppets we're allowed to vote for), we'd have a mortgage strike.
Linda Green | Lender Processing Services’ DOCX, Lorraine O. Brown, Indicted on Criminal Forgery Charges newSubmitted by 4closureFraud on 02/07/2012 12:29 -0400
Brown could face up to seven years in prison for each count. DOCX could be fined up to $10,000 for each forgery conviction and $2,000 for each false declaration...
During my tenure as Fannie Mae’s senior vice president for marketing, I warned NPA that any effort by Fannie Mae to launch a massive national affordable housing program would be as disastrous for homebuyers and neighborhoods as FHA’s failed efforts were in the 1960s and 1970s.
So now, as an infallible way of making little ease, great ease, I began to contract a quantity of debt.--Charles Dickens
A primer on reverse socialism.
And so we've come full circle. The WSJ is reporting that the Federal Reserve Bank of New York will be seeking bids by the middle of this week for roughly $6 Billion dollars worth of residential mortgage backed securities currently held in Mainden Lane II. This would be on the heels of a $7 Billion dollar sale on January 19th to Credit Suisse.
Had to cross post this discussion with my brother Michael Whalen from The Institutional Risk Analyst. The past articles in The IRA require a $99/yr subscription, but the most recent is free.
Also note link to comment by Barry Ritholtz on The Big Picture re: the Facebook IPO. Actually Goldman Sachs led the covert IPO and hype festival last year, but the folks at the SEC and FINRA were sound asleep.