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wcaseym (82.82)

February 2009

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3

Simon Johnston interview

February 16, 2009 – Comments (3)

"I think I'm signaling something a little bit shocking to Americans, and to myself, actually. Which is the situation we find ourselves in at this moment, this week, is very strongly reminiscent of the situations we've seen many times in other places.

But they're places we don't like to think of ourselves as being similar to. They're emerging markets. It's Russia or Indonesia or a Thailand type situation, or Korea. That's not comfortable. America is different. America is special. America is rich. And, yet, we've somehow find ourselves in the grip of the same sort of crisis and the same sort of oligarchs."


High Noon: Geithner v. the American Oligarchs
http://www.truthout.org/021609J

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Off the Charts

February 08, 2009 – Comments (1)

Over the 10 years through January, an investor holding the stocks in the S.& P.’s 500-stock index, and reinvesting the dividends, would have lost about 5.1 % a year after adjusting for inflation.

http://www.nytimes.com/imagepages/2009/02/06/business/20090207_CHARTS_graphic.html

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You tell 'em, Vlad! Tell 'em good!

February 02, 2009 – Comments (0)

IThe reminder:

I just want to remind you that, just a year ago, American delegates speaking from this rostrum emphasized the U.S. economy's fundamental stability and its cloudless prospects. Today, investment banks, the pride of Wall Street, have virtually ceased to exist. In just 12 months, they have posted losses exceeding the profits they made in the last 25 years. This example alone reflects the real situation better than any criticism.

... assessment:

The entire economic growth system, where one regional center prints money without respite and consumes material wealth, while another regional center manufactures inexpensive goods and saves money printed by other governments, has suffered a major setback.

... and proposed solution:

This means we must assess the real situation and write off all hopeless debts and 'bad' assets. True, this will be an extremely painful and unpleasant process. Far from everyone can accept such measures, fearing for their capitalization, bonuses, or reputation. However, we would 'conserve' and prolong the crisis, unless we clean up our balance sheets.

Putin Speaks at Davos
http://online.wsj.com/article/SB123317069332125243.html?mod=googlenews_wsj

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