Europe’s solution: Would you believe $1.4 TRILLION in free money for banks?
Remember at the “end” of the financial crisis when everyone from Timothy Geithner to Barack Obama to assorted members of British Parliament promised that “Never again” would anyone need to hand...
View ArticleEuropean Bank Kabuki Preview: Spoiler alert!
European banks are bracing themselves for another slap on the wrist and stern language, as the next round of sham “stress tests” begins. We’re not quite sure who exactly is stressed, but our inkling...
View ArticleIs there a bubble in everything?
The New York Times points out that just about everything on Earth is expensive by historical standards. And then asks the seemingly obvious question: Does that make it a bubble? Welcome to the...
View ArticleIs the Fed going to attempt a controlled collapse?
As most Fed watchers know, last week was interesting because Janet Yellen, speaking at IMF came out and said something quite surprising. In a nutshell, she said “It’s not the Fed’s job to pop...
View ArticleWhat would mainstream economists have advised Bernie Madoff to do?
Just over two weeks ago, Bernie Madoff’s accountant finally plead guilty to fraud after six years of defending himself. He was sentenced to 30 years in prison at the age of 78. While he admits to...
View ArticleNotQuant’s response to Mish’s Response to NotQuant
Yesterday, we read Mike Shedlock’s response to our piece Is the Fed Going to Initiate A Controlled Collapse with interest. He called our piece “complete silliness” and then attempted to deconstruct our...
View ArticlePlease help us raise funds to visit Paul Krugman’s home planet.
We’re asking for your support to help crowd-fund a purpose-built spacecraft. We haven’t gotten around to making a page on StartJoin yet, but it’s coming. Why, you ask? Because after reading Paul...
View ArticleYes Europe is screwed, but it’s not Portugal that’s the problem
Apparently the only people in the world who don’t know the Euro crisis is about to get worse, are fund managers. Last week when Portugal’s largest bank, Banco Espirito Santo shat the bed so to speak,...
View ArticleWTF: Greek banks to quadruple housing loans by next year?
Repeating the same mistake twice is generally considered to be a stupid thing to do. Repeating the same mistake twice, on a far larger scale in a far shorter timeframe is idiocy on such a grand scale...
View ArticleThey learned nothing: The Bank of England is already pushing for more banking...
Even though the Basel banking-regulations are adhered to by all European banks, England’s largest banks have special permissions to use custom “bespoke” models when calculating their loan-loss reserve...
View ArticleRick Santelli vs. the Talking Heads
Today’s pro-Fed vs. anti-Fed showdown on CNBC was highly entertaining and highly infuriating all at the same time. Here’s the problem with the closing argument: Those that argue that ‘the market has...
View ArticleThe Israel-Palestine Conflict: Do we care about it too much?
We receive lots of emails asking us to post or re-print political articles. A sizable percentage of them concern that perennial favorite: The Israeli-Palestinian conflict. Our short answer is: No....
View ArticleNotQuant’s crystal ball on today’s Fed testimony
Whether or not you believe Janet Yellen is going to say one thing and do another, we expect few surprises in today’s Federal Reserve testimony at 10am today. After gazing deeply into our crystal ball,...
View ArticleDid Janet Yellen just step out-of-bounds?
A strange thing happened during today’s Federal Reserve testimony in front of Congress: Janet Yellen told the world that she felt a particular sector on the equity markets was overvalued. More...
View ArticleMust Watch: Warren destroys Yellen’s position on “Too Big to Fail”.
This dialogue hasn’t received nearly as much attention as it deserves. As we predicted this morning, Warren would grill Yellen over TBTF. And Yellen would do little more than say the Fed is “looking...
View ArticleThe West African Ebola outbreak is out of control
It’s bad enough that the worst Ebola outbreak in history is spreading across national borders and evading the best efforts at containment, but now doctors are facing a new problem: Angry, scared and...
View ArticleCentral banks speculating in equity-markets: What could possibly go wrong?
Yesterday, in Congressional testimony Janet Yellen apparnetly felt it was within her mandate as Chair of the Federal Reserve to slap a “sell rating” on social media stocks and bio-techs. The smack-down...
View ArticleBank of England: Raising rates is outside of “political reality”. Wait… what?
Mark Carney shot back a direct refusal to the BIS’ recommendation to raise rates today, saying “Raising rates is outside of political and economic reality”. Mark Carney has rejected calls by the Bank...
View ArticleMega-banks get hit with mega $250 billion lawsuit. Is the party over?
It’s one thing when angry homeowners attempt to stare-down $1000/hr corporate lawyers over fraud-related losses during the housing bust. The analogy of bringing a squirt-gun to a gun-fight comes to...
View ArticleWill there be an epic (final) US Dollar rally?
When large ships first begin sinking, they tend to sink evenly. The lowest part of the hull, or bilge, fills with water increasing the weight of the ship and pulling the entire ship down evenly....
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