"After all, if a company like Goldman Sachs can borrow gigantic sums of "money" from the Federal Reserve at zero interest, why would it not shovel that money into the burning furnace of a fake stock market rally? " [more]
Max Keiser interviews Gail Tverberg of http://theoildrum.com/ . This is two interviews in a row by Max with people who are believers in Peak Credit. (Ref my previous Dec 09 post with Professor Steve Keen. [more]
MY COMMENT: Vox Day reminds Fooldom that banks have no ethical problem strategically defaulting. Read and heed and share with anyone who maybe underwater following the bubble implosion: [more]
Appearing on the cover of Time as person of the year is like a bell ringing. It almost always is akin to a figurative death sentence for the person involved, and sometimes even a literal one.
Jeff Bezos made the cover in 1999 - the year the internet portion of the tech stock bubble topped out.GW Bush made the cover as his popularity rating had just begun to slide, ending at the worst such rating since Nixon, concurrent with a stock market crash.Hitler made the cover in 1938.General Chiang Kai Chek in 1937. It turned out to be an ill omen, career-wise.Stalin made the cover in 1939 and again in 1942.Kennedy made the cover the year before he was assassinated, as did Martin Luther King - a literal death sentence in both cases.Lyndon B. Johnson made the cover in 1964 - he was about to lead the country into the Vietnam catastrophe.Nixon and Kissinger made it in 1972.It was Yury Andropov's turn in 1983 - he died shortly thereafter.Gorbachov became 'man of the decade' half a year before being forced to step down.Obama's turn was last year.Most worrisome however, in 2006 Time decided to write on its person-of-the-year cover 'You!'.
Read the entire post at Mish's blog here: [more]
MY COMMENT: I told Fooldom to buy guns and ammo stocks back in Jan 09. Now GS employees are pilling in. Disclosure I am still long ammo makers, as the bull market in guns and ammo is just getting started. [more]
MY COMMENT: Faber and now John Williams are making the hyper-inflation call. You should read John Williams report reguardless of your belief/position. [more]
Italy's richest man / President victim of terrorism? [more]
Whom the gods would destroy, they first make mad.
Euripides (484 BC - 406 BC) [more]
Zerohedge - finds the story and makes it's call: [more]
MY COMMENT: One of the few competitent truth tellers allowed in Financial media Market Watches': Paul Farrell [more]
Great stuff here from Dr Paul: [more]
MY COMMENT: I was a long time reader if WSJ, Barrons and FT. I let my subscriptions expire. I find far more credible and useful information on the web. [more]