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Someday They Are Going To Write Books About This!
Someday They Are Going To Write Books About This! What is occurring today is absolutely mind-boggling. Someday they are going to write books about this! While there have been some messed up financial conundrums over the years none rival the current situation now before us. The dilemma before us is a fast-moving enigma wrapped in a gossamer […]
Coronavirus: The “Rescue” Is Stealing Your Wealth
Coronavirus: The “Rescue” Is Stealing Your Wealth The elites get richer and we lose our jobs & future prospects As we begin to get a better handle on what happens inside the body when covid-19 infects, it’s clear that early treatment makes a big positive difference. And we’re learning of effective measures you can take […]
Bailouts Can’t Save This Fragile System
Bailouts Can’t Save This Fragile System It’s obvious the global economy is painfully fragile. What is less obvious is the bailouts intended to “save” the fragile economy actually increase its fragility, setting up an inevitable collapse of the entire precarious system. Systems that are highly centralized, i.e., dependent on a handful of nodes that are […]
Capitalism on Life Support… Time for a Cure
Capitalism on Life Support… Time for a Cure The Covid-19 pandemic is unleashing obscene bailouts of Western industries and companies, as well as lifelines for billionaire business magnates. It is grotesque that millions of workers are being laid off by corporations which are in turn receiving taxpayer funds. Many of these corporations have stashed trillions […]
As The US Rig Count Collapses Most Since 2014, Will The Fed Bail Out Oil Companies?
As The US Rig Count Collapses Most Since 2014, Will The Fed Bail Out Oil Companies? After a chaotic week in the energy complex, today’s data from Baker Hughes suggests American oil companies are finally starting to draw the line as rig counts collapse to their lowest since July 2016, having collapsed at the fastest […]
Blain’s Morning Porridge – April 23 2002 – Avoiding Pension Crash
Blain’s Morning Porridge – April 23 2002 – Avoiding Pension Crash “In a time of universal deceit – telling the truth is a revolutionary act” Trump is not a complete fool. He knows enough to move oil prices up. Threaten to start a war in the Middle East. Works every time..! Sure enough stocks followed […]
Banks Will Not Bail Out The Economy
Banks Will Not Bail Out The Economy These days, we hear a lot that banks were the problem in the 2008 crisis and now they are the part of the solution. Banking was not the main problem of the 2008 crisis, but one of the symptoms that indicated a more serious disease, the excess risk taken by […]
Let the Institutional Innovation Begin! (Part I)
Let the Institutional Innovation Begin! (Part I) In corvid-19, neoliberal capitalism has met a formidable foe. The pandemic has shown just how fragile and dysfunctional the market/state order — as a production apparatus, ideology, and culture — truly is. Countless market sectors are now more or less collapsing with a highly uncertain future ahead. With […]
The Trickle-Up Bailout
The Trickle-Up Bailout It’s early days, but the Federal Reserve “bazooka” has mostly impacted the 1% Take a look at some contrasting sets of headlines. First, from planet earth: Weekly Jobless Claims Hit 5.425 Million, Raising Monthly Loss To 22 Million Due To Coronavirus (CNBC) Worst Case Fears Of 20%-Plus U.S. Jobless Rate Are Now Realistic (Bloomberg) […]
Oil, Gas, Petrochemical Financial Woes Predate Pandemic — And Will Continue After, Despite Bailouts, Report Finds
Oil, Gas, Petrochemical Financial Woes Predate Pandemic — And Will Continue After, Despite Bailouts, Report Finds The oil, gas, and petrochemical industries have taken a massive financial blow from the COVID-19 pandemic, a new report from the Center for International Environmental Law (CIEL) concludes, but its financial troubles preexisted the emergence of the novel coronavirus and are likely to extend […]
What Are You Gonna Do About It?
What Are You Gonna Do About It? Tucked into the recent recovery bill was a provision granting the Federal Reserve the right to set up a $450 billion bailout plan without following key provisions of the federal open meetings law, including announcing its meetings or keeping most records about them, according to a POLITICO review […]
Houston: The Banks Have A Huge Problem
Houston: The Banks Have A Huge Problem For many years after the financial crisis, US commercial banks were mocked when instead of generating earnings the old-fashioned way, by collecting the interest arb on loans they had made, or even by frontrunning the Fed with their prop (and flow) trading desks, they would “earn” their way […]
The UNFAIRNESS Economy
The UNFAIRNESS Economy Bailouts for the rich. Barely anything for you. Award-winning investigative journalist Matt Taibbi penned perhaps the most iconic condemnation of the bankers who created (and subsequently got bailed out during) the Great Financial Crisis: The first thing you need to know about Goldman Sachs is that it’s everywhere. The world’s most powerful […]
Coffee Sellers Are Not Fundamentally Different From Banks
COFFEE SELLERS ARE NOT FUNDAMENTALLY DIFFERENT FROM BANKS With the 2007-8 financial crisis came a splendid alphabetical soup of central bank interventions to stimulate financial markets, lower interest rates, provide astonishing amounts of liquidity to banks and, allegedly, prevent another Great Depression. Likening the failure of big banks to falling elephants crushing even the smallest grass, […]
The Fed’s In A Box And People Are Starting To Notice
The Fed’s In A Box And People Are Starting To Notice It’s long been an article of faith in the sound money community that the Fed, by bailing out every dysfunctional financial entity in sight, would eventually be forced to choose between the deflationary collapse of a mountain of bad debt and the inflationary chaos […]
