Let’s Hope They Fire the Rest

Here’s something that I would normally call irony if it weren’t so evil:

Wells Fargo Home Mortgage (WFC) has fired a Des Moines worker over a 1963 incident at a Laundromat involving a fake dime in the wake of new employment guidelines. Richard Eggers, 68, was fired in July from his job as a . . . → Read More: Let’s Hope They Fire the Rest

Time Unlikely to be a Healer for Portugal's Economy

In a strict sense, the answer to this question has to be no and indeed the most recent turn of events have put Spain back in the spotlight much to the chagrin no doubt of the EU and IMF. Simply put, Portugal is manageable but Spain may turn out not to be. In this . . . → Read More: Time Unlikely to be a Healer for Portugal’s Economy

Cleveburgh Watch: A Tale of Two Banks

So to admit upfront, this is all parasitic on some neat reporting from Bloomberg out on the Analytic Journalism frontier.  They have acquired and made available to the public (which means they want us to use it right?) data as they describe “Once secret ” from the Federal Reserve on its lending to major . . . → Read More: Cleveburgh Watch: A Tale of Two Banks

Caught out by Reality in Europe

The rumour mill is grinding particularly fast at the moment. Germany and France seem to be working on the famous nuclear solution, Spain plays tough on outsiders, the IMF is rumoured to be preparing an aid package for Italy not to mention Hungary and Austria (just like Belgium) has entered the rating agencies’ cross . . . → Read More: Caught out by Reality in Europe

Europe Uncertainty Plummets - Deal is Done

European Union leaders unveiled a deal early Thursday on debt crisis measures that includes a 50% loss on Greek bonds.

The agreement came at the end of a series of talks to finalize the details of a comprehensive policy response to the government debt and banking problems threatening the stability of the . . . → Read More: Europe Uncertainty Plummets – Deal is Done

Rick Rule: Play Metals Stock Volatility to Win

In March of 2011, Global Resource Investments Founder and Chairman Rick Rule predicted a time of unprecedented volatility. As investors struggle to recover from what, indeed, turned out to be one of the most up-and-down months in history, this special Gold Report from his latest web broadcast outlines his secrets for using volatility . . . → Read More: Rick Rule: Play Metals Stock Volatility to Win

Random Shots - All Back to Square One?

Starting a new job and settling in a new city/flat has proved a little more unsettling for my blogging efforts than I had expected. Anyway, what better time to return to the fray when the SP500 completes its worst run in a long time returning to levels not last seen since March where . . . → Read More: Random Shots – All Back to Square One?

Corporate fascist economic system

A Fistful Of Dollars:

Without Federal Reserve intervention in the financial markets since September 2008, the biggest banks in the world would have entered bankruptcy liquidation. The U.S. economy would have experienced a 10% to 20% fall in GDP. The unemployment rate would have soared above 15%. The stock market would have fallen 70%. . . . → Read More: Corporate Fascist Economic System

Australian Housing to Bust, Eventually

This post by Terry McFadgen on Australian housing prices is a good summary of the question of if/when prices will tank. One thing overseas readers should keep in mind is that Australian borrowers can’t walk away from their debt – the bank can foreclose on you and then go after you or bankrupt you . . . → Read More: Australian Housing to Bust, Eventually