Jul 17 2011

Manias, implosions, and financial disasters – the unsustainable nature of our current debt based financial system.

Trying to induce inflation to reduce accumulated debt is not a modern invention.  Dr. Carmen Reinhart and Dr. Kenneth Rogoff trace this kind of financial crisis and others back to the Dionysius of Syracuse during the 4th century.  The debasement of currency also occurred in the Roman empire and Byzantine empire and as usual printing […]

Jul 13 2011

A brave new banking system – while public is told banking system is healthy FDIC quietly grows troubled bank list by 180 and adds over 1,600 employees in the last two years to deal with bank failures.

The banking system in the United States rests on a very thin layer of faith and that faith has been shaken by the current financial crisis.  The retail banking system is largely a facade that now latches on to taxpayer bailouts to fund speculative investments through their investment banking divisions.  The repeal of Glass-Steagall has […]

Jul 7 2011

The grand financial recovery myth – 8 charts reflecting the true beneficiaries of four years of taxpayer bailouts. Transfer payments make up 22 percent of household income and public debt surpasses annual GDP.

While the economy is recovering in raw GDP terms the working and middle class Americans are having a smaller and smaller piece of the pie.  The recovery is disproportionately flowing to a tiny fraction in our population and largely is based on targeted bailouts to the financial sector.  After four full years of bailouts and […]

Jul 4 2011

How the Federal Reserve continues to conduct shadow bailouts for the banking beasts and sets the world economy on FIRE. Fed balance sheet now at a record $2.84 trillion as wages decline and banking profits soar. Fed balance sheet now equivalent to 20 percent of U.S. GDP.

The Federal Reserve is primarily concerned with one thing and that is to protect the interests of the banking industry.  The Fed has no desire or need to protect the underlying economy.  If they can get away with allowing banks to jump from one bubble to another they will do so.  The success of the […]

Jul 1 2011

College education becomes a predator’s lounge for Wall Street and the government – Since 2000 the real cost of college is up by 23 percent yet the real earnings of college graduates is down by 11 percent.

The cost of going to college seems to defy the rules of fundamental economics and basic gravity.  Over the last decade the real earnings of college graduates has fallen yet the cost of a four year education continues to go up almost oblivious to this fact.  These kinds of dislocations in markets typically signify bubbles […]

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