• Tim Knight from...
    09/01/2014 - 12:24
    Although I never thought it was possible, it makes me angry to write this book review. I'm not angry because I don't like the book. On the contrary, this is the best economics book I've ever...

Lehman Brothers

GoldCore's picture

Interview: Bailins May Cause Bank Runs and Capital Controls In Western World - Russia, China Opt Out





And in Cyprus when it happened, the authorities said it was a once-off, because of all of the hot Russian money that is in Cyprus, and this will not happen anywhere else...but meanwhile they are planning for that scenario in most of our countries. People need to be aware of that and they need to prepare.

 
Pivotfarm's picture

Male-Female Wage Disparity Begins at Home





Just like everything else, it’s the chicken and the egg conundrum. Which came first?

 
Tyler Durden's picture

17 Facts To Show To Anyone That Still Believes That The U.S. Economy Is Just Fine





No, the economy is most definitely not "recovering".  Despite what you may hear from the politicians and from the mainstream media (shrugging off today's terrible GDP print), the truth is that the U.S. economy is in far worse shape than it was prior to the last recession.  In fact, we are still pretty much where we were at when the last recession finally ended.  When the financial crisis of 2008 struck, it took us down to a much lower level economically.  Thankfully, things have at least stabilized at this much lower level.  For example, the percentage of working age Americans that are employed has stayed remarkably flat for the past four years.  We should be grateful that things have not continued to get even worse.  It is almost as if someone has hit the "pause button" on the U.S. economy.  But things are definitely not getting better, and there are a whole host of signs that this bubble of false stability will soon come to an end and that our economic decline will accelerate once again.  The following are 17 facts to show to anyone that believes that the U.S. economy is just fine...

 
Tyler Durden's picture

India Central Bank Chief Warns QE "Has Been More Cause Than Cure" For Economic Weakness





Speaking at The Brooking Institution on April 12, Reserve Bank Of India Governor Raghuram Rajan  - no stranger to controversial truthiness (as we have noted here and here) - made clear his views on the rest of the world's central bankers as he concluded, "the first step to prescribing the right medicine is to recognize the cause of the illness. And, when it comes to what is ailing the global economy, extreme monetary easing has been more cause than cure. The sooner we recognize that, the stronger and more sustainable the global economic recovery will be."

 
Tyler Durden's picture

The Crisis of Confidence in US Hegemony





The 21st century is still young, but it has already presented the United States with a series of internal and external challenges. History tells us that when one hegemon is in decline, international relations become more complex and uncertainties increase the risks. We may be in such a period today.

 
Tyler Durden's picture

Exactly Like 7 Years Ago? 2014 Is Turning Out To Be Eerily Similar To 2007





The similarities between 2007 and 2014 continue to pile up. And you know what they say - if we do not learn from history we are doomed to repeat it.  Just like seven years ago, the stock market has soared to all-time high after all-time high.  Just like seven years ago, the authorities are telling us that there is nothing to worry about.  Unfortunately, just like seven years ago, a housing bubble is imploding and another great economic crisis is rapidly approaching.

 
Tyler Durden's picture

The Middle Class In Canada Is Now Doing Better Than The Middle Class In America





For most of Canada's existence, it has been regarded as the weak neighbor to the north by most Americans.  Well, that has changed dramatically over the past decade or so.  Back in the year 2000, middle class Canadians were earning much less than middle class Americans, but since then there has been a dramatic shift.  At this point, middle class Canadians are actually earning more than middle class Americans are.  The Canadian economy has been booming thanks to a rapidly growing oil industry, and meanwhile the U.S. middle class has been steadily shrinking.  If current trends continue, a whole bunch of other countries are going to start passing us too.  The era of the "great U.S. middle class" is rapidly coming to a bitter end.

 
Pivotfarm's picture

Testosterone in the Financial Markets





Too much testosterone in the room? Heard that all before. It’s the adolescent-like traders that were battling with levels of testosterone and cortisol, pounding on their chests like Tarzan swinging through the trees in the jungle of the financial markets that brought the world down too.

 
Tyler Durden's picture

Guest Post: Why The West's Financial Warfare Against Russia May Lead To The Real Thing





A mix of military reluctance and willingness to use financial weapons was evident before the First World War, as it is now in Ukraine. Countries' efforts to protect their financial systems often centred on increased banking supervision and, in many cases, enlarging the central bank's authority to include the provision of emergency liquidity to domestic institutions. But this belief fuelled excessive confidence among those responsible for the reforms, preventing them from anticipating that military measures would soon be needed to protect the economy. Instead of being an alternative to war, the financial arms race made war more likely – as it may well be doing with Russia today.

 
GoldCore's picture

Bail-Ins Approved By EU Yesterday - Coming In UK, U.S. And Globally





“Bail-in” means that the bank’s owners - the shareholders, and creditors -  the bondholders and now even depositors, will be line to absorb losses banks will incur, before outside sources of finance may be called upon. Deposit confiscation cometh ...

 
Tyler Durden's picture

Chief Economist Of Central Banks' Central Bank: "It's Extremely Dangerous... I See Speculative Bubbles Like In 2007"





Yet again, it seems, once senior political or economic figures leave their 'public service' the story changes from one of "you have to lie, when it's serious" to a more truthful reflection on reality. As Finanz und Wirtschaft reports in this great interview, Bill White - former chief economist of the Bank for International Settlements (who admittedly has been quite vocal in the past) - warns of grave adverse effects of the ultra loose monetary policy everywhere in the world... "It all feels like 2007, with equity markets overvalued and spreads in the bond markets extremely thin... central banks are making it up as they go along." Some very uncomfortable truths in this crucial fact-based interview.

 

 
Tyler Durden's picture

Goodbye Blythe Masters





A week ago we wrote: 'While it has been public for a long time that i) JPM is eager to sell its physical commodities business and ii) the most likely buyer was little known Swiss-based Mercuria, there was nothing definitive released by JPM. Until moments ago, when Jamie Dimon formally announced that JPM is officially parting ways with the physical commodities business. But while contrary to previous expectations, following the sale JPM will still provide commercial gold vaulting operations around the world, it almost certainly means farewell to Blythe Masters." Sure enough:

JP MORGAN COMMODITY CHIEF BLYTHE MASTERS LEAVING, WSJ SAYS       

Farewell Blythe: we hope your replacement will be just as skilled in keeping the price of physical gold affordable for those of us who keep BTFD every single day.

 
Tyler Durden's picture

Read Michael Lewis' Flash Boys: A Wall Street Revolt: An Adaptation





The stock market really was rigged... “It’s 2009,” Katsuyama says. “This had been happening to me for almost two years. There’s no way I’m the first guy to have figured this out. So what happened to everyone else?” The question seemed to answer itself: Anyone who understood the problem was making money off it...

 
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