Principles of economics, translated (Funny Video)
• by Yoram Bauman"Mankiw's 10 principles of economics, translated for the uninitiated", by Yoram Bauman, http://www.standupeconomist.com . Presented at the AAAS humor session, February 16, 2007.
Contents Pages by Subject
Economy - Economics USA
Global Credit Crisis Weekly Wrap-Up
• MISH: Global Economic AnalysisECB emergency funding is tapped. Banana Republic charges were leveled at the US and UK. The US dollar is at all time lows. Short term commercial paper in Canada is frozen for 7 years. Commodity prices are soaring. Countrywide Financial is delaying th
Real Estate and Housing Industry Outlook "we're in deep doodoo"
• Treasure CoastThe deterioration of the housing markets over the past six weeks has been devastating. I really don't care what we hear on the conference calls this week, because I'm here to tell you from ground zero, it is much worse than anyone has discuss
Time To Break Up The Credit Rating Cartel
• MISH: Global Economic AnalysisA pension fund is suing Moody's and the SEC is launching a conflict of interest investigation. The SEC wants to separate rating & advisory functions. But the real problem is the SEC's creation of a Nationally Recognized Statistical Rating Org
Congress agrees to raise U.S. credit limit to just under $10 trillion in debt
• ReutersWith the government fast approaching its current $8.965 trillion credit limit, the Senate approved an $850 billion increase in borrowing authority. The Senate voted 53-42 to raise the debt ceiling to $9.815 trillion, the 5th increase since Bush took
Is the Fed Deflating?
• MISH: Global Economic AnalysisGary North wrote an article suggesting the Fed is deflating. Base Money was used for his claim as M2 and M3 are flawed measures that contain credit transactions. The distinction between printing and credit is paramount. But M2 and M3 are not useless
Doug Kass: How the Market Will Unravel
• www.thestreet.comThe binge of mindless mortgage (and other forms of) borrowing abetted by generous strangers and central bankers abroad, by legions of unscrupulous mortgage lenders in the U.S. who fed the machine of packagers of credit on Wall Street and, most import
How the Market Will Unravel, Part II
• http://static.seekingalpha.comS&P Case-Shiller Home Price Index, 2011 home price expectations in major regions in the home futures market.
Death Spiral Financing
• Mish ShedlockHomebuilder SPF canceled its small dividend and announced a convertible debt offering that encouraged shorting. This is an act of pure desperation. Lennar reported a disastrous quarter with sales down 44%, more job cuts, and a loss per share of $3.25
Are we out of the Subprime Mess?
• Dr. Housing BubbleThere is a great article that was published in the O.C. Register talking to a BofA analyst, Robert Lacoursiere discussing the future of the mortgage correction. The chart provided on the site provides a disturbing picture.
Are we out of the Subprime Mess?
•There is a great article that was published in the O.C. Register talking to a BofA analyst, Robert Lacouriere discussing the future of the mortgage correction. The chart provided on the site provides a disturbing picture.
S&P: US Home Price Decline Accelerates
• APThe decline in U.S. home prices accelerated nationwide in July, posting the steepest drop in 16 years, according to the S&P/Case-Shiller home price index released Tuesday.
The credit crunch that never was, is over
• News With ViewsThe ruse that has been played out in the stock, bond, and credit markets for the last two months is one of the biggest scams of the century, after the crash of the NASDAQ. At stake is the cememting together of a global economic structure that
Corrupt Banking System: The Cartoon
• YoutubeThis highly informative and easy to understand film explains how the banking system gets away with robbing the unsuspecting public by creating monetary policies designed to enslave society, while keeping the system in a perpetual state of rising debt
Greenspan sees slowdown in U.S. Too early to predict recession, he says
• www.azcentral.comThe United States is heading toward an economic slowdown, but it's too soon to say whether a recession is on the horizon, former Federal Reserve Chairman Alan Greenspan said Sunday. "We're heading toward a slowdown," Greenspan said
Don't Worry All Recessions Are Local
• Mish ShedlockThe "All Real Estate Is Local mantra died with a national housing bust so it's time for a new mantra: "All Recessions Are Local". Florida and Michigan are both in recession. California is headed there. Foreclosures are soaring and
Playing Hardball With The UAW
• Mish ShedlockGM workers went on strike after negotiations broke down over job security. GM and the UAW had reached tentative agreement over health care issues but GM refused to budge on other issues. GM management seems determined to break the UAW in a game of al
From Prime to Subprime, America’s Home-Mortgage Meltdown Has Just Begun
• Eric Englund for LewRockwell.comAmerica’s monetary central planner "knew" that massive inflation was needed to "rescue" the economy from the above-mentioned dot.com and telecom implosions. Housing was specifically targeted by the Federal Reserve to serve as
UAW begin picketing GM
• CNNmoney.comStrike deadline comes without word of a contract agreement as 73,000 United Auto Workers union members reportedly start strike; talks said to continue.
Fed to cut rates again before Jan, history shows
• Bloomberg(Dollars holders get screwed again) Government bond traders, who predicted six of the last seven recessions, say the Federal Reserve will lower interest rates again before the end of the year as the economy comes to a standstill.
Open Letter to Federal Reserve Chairman Ben S. Bernanke
• iTULIPYour expression of surprise at the fallout of the collapse of the housing bubble in the presence of so much data leaves observers to conclude that you are either misinformed or not being entirely forthright.
Bernanke Stumped by Representative Ron Paul
• MinyanvilleIn today’s testimony before the house, Fed Chairman Bernanke was questioned by Representative Ron Paul in what was a remarkable exchange. Remarkable for how straightforward, lucid, and anti-statist the question was.
US Treasury to halt state,local securities sales
• ReutersThe US Treasury on Friday said it would suspend sales of state and local government series securities(SLGS) next week to prevent the federal government from braching its statutory debt limit. The move to close the "slugs" window is the fir
House prices to drop much lower: Greenspan
• news.yahoo.com"So far, prices have dropped only slighly. But it was enough to cause alarm around the world," he said. "Prices are going to fall much lower yet."
Crude oil jumps above $84; Gold above $735
• Financial TimesCrude oil prices jumped above $84 a barrel late on Thursday after production platforms in the Gulf of Mexico were shut down ahead of a threatened tropical storm.
U.S. moves to stem wave of foreclosures
• Christian Science MonitorNeither the Fed nor Congress appears likely to contain the foreclosure wave that is on pace to hit 1 million or more homeowners next year. Rate cuts by the Federal Reserve, after all, can go only so far toward resolving issues that extend far beyond
Private debt much higher than during the Great Depression
• efinancedirectory.comPrivate debt is much higher now than during the Great Depression, and has been allowed to grow as if there were no consequences to borrowing, and no limit to what can be paid back in the future.
U.S. expert warns of fresh shocks
• propagandamatrix.comRobert Shiller, a Yale university economist, told a U.S. congressional panel that he feared "the collapse of home prices might turn out to be the most severe since the Great Depression".
Price Stability & Top Secret Missions
• MIsh ShedlockOne of the Fed's missions is price stability. It flunked. But it keeps adding more missions. China resorted to price controls. The Bank of England wants covert actions. These are signs of instability everywhere. The US of course has its own secre
Bush optimistic about economy
• http://news.yahoo.com/ha ha ha - President bush on Thursday cited "some unsettling times" in the U.S. housing and credit markets as he sought to assure jittery Americans that the economy is holding up well despite worries about a recession. "I say that the
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