Oct 13 2010

The hidden gigantic risk of derivatives – Top 77 U.S. banks have their hand in $225 trillion in derivatives. The top 5 banks hold $7.8 trillion of all banking assets growing their asset base by $1.7 trillion from 2007.

The concentration of banking risk in the United States is immense.  The Federal Reserve and U.S. Treasury like to convey a pretense that we have a very diverse banking system with over 7,800 banking institutions.  In the mind of most of the public, this seems like a very diverse industry.  Imagine having 7,800 different kinds […]

Jun 29 2010

Stock market volatility reflects a weak economy and the end of a generational bull market. S&P 500 back to 1998 levels. Middle class thrown to the wolves in this stock market.

The economic crisis has ushered in the end of a generation long bull market.  Most average investors ignore the fact that heavy market volatility is a sign of an unhealthy stock market.  The stock market since the lows reached in 2009 has been on an unstoppable bull run.  Yet the real economy where most Americans […]

Jun 14 2010

Fooled by financial randomness – Number of millionaires back to late 1990s levels and the end of a 30 year bull market. Real estate and stock market speculators luck out but want to believe in Wall Street religion.

It is hard to convince a generation of Americans built on the “greed is good” motto that we have just lived through a once in a lifetime bull market in stocks and real estate.  I’m reminded of Michael Lewis and his semi-autobiographical book Liar’s Poker printed in 1990 that was to serve as a warning […]

May 9 2010

The retirement myth – 1 out of 3 Americans has no savings or retirement account. Half of Americans have $2,000 or less in their retirement account. 401k new name for Wall Street grease.

Middle class Americans are witnessing the conversion of their retirement accounts into gambling pots used by Wall Street.  The metamorphosis of Wall Street into one giant fraud ridden center moved by investment banking funds has slowly occurred over the last four decades.  Average Americans have sat back over these years since they were given enough […]

Apr 17 2010

Stock Market Hustle – Three Ways Wall Street has Created a New American Serfdom. The Overly Expensive Mortgage Deduction, Wall Street Pseudo-Rally, and Attacking the Poor.

Last week the S&P 500 almost reached an impressive 80 percent gain from the red abyss seen in March of 2009.  This puts this stock market rally up in the ranks of the strongest and fastest market turnarounds in history.  Yet on Friday news of Goldman Sachs betting on toxic mortgages sold to clients brought […]

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