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By: Brady Willett & Todd Alway | Fri, Aug 6, 2010 Ben Bernanke’s machinations since the financial crisis began are widely celebrated as having saved the financial markets from complete ruin. Question is, was preventing the ruin of an over-leveraged, non-transparent, and bubble-driven financial system really the best path? For that matter, did the actions of Bernanke and company Full Article

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Guest Post: The Purpose Behind Engineered Economic Collapse

Submitted by Tyler Durden on 08/17/2010 08:47 -0500 By Giordano Bruno, of Neithercorp Press The Purpose Behind Engineered Economic Collapse “From now on, depressions will be scientifically→

Crack of Doom: Fannie, Freddie and the Killer $Bs

Posted Aug 16 2010 by johnm in Bailouts, GSEs, Housing Bubble, Mortgage Banking, Mortgage Lending, Politics, Systemic Risk with 0 Comments Fannie Mae and Freddie Mac are the two largest housing GSEs→

Signs of the Times

By Joel Bowman 08/14/10 Lake Livingston, Texas – We came to see the real America. This week, we had a good look around. Fellow Reckoners will recall that we are on a vagabond’s odyssey,→

Corporate bonds, Municipal Bonds, Treasuries at Record Low Yields; Is this a “Fool’s Game”?

As investors search for yield anywhere and everywhere, bonds are trading in uncharted territory. Please consider Obama Wins Low Yield as Markets Shrink Aiding Deficit Bond investors seeking top-rated→

Mommy, Mommy When I Grow Up I Want to Be A Federal Worker

Posted by Scott Redler thedailycrux.com 8 15 2010 Things were sure different when I was growing up. My parents taught me the value of a strong work ethic because that was how you got ahead in life. I→

Interview: Jim Rogers on Chinese Economy, Yuan Policy, and GM

Jim Rogers is an investor and financial commentator. He maintains residences in Singapore and Miami. Rogers first gained fame as the co-founder of the Quantum Fund. More recently, he is known→

One Amusing Difference Between The New Evil Empire (Google) And The Old One (Microsoft)

Henry Blodget | Aug. 16, 2010, 10:02 AM | 300 | 1 Saint Larry, Saint Sergey Image: AP It has been funny to watch Google squirm as the world calls it out for aggressively pursuing its own→

UN Chief Ban Ki-Moon: Pakistan Floods Are Worst Disaster I’ve Ever Seen

AP/Huffington Post First Posted: 08-15-10 04:57 PM | Updated: 08-16-10 09:35 AM ISLAMABAD, Pakistan — U.N. Secretary-General Ban Ki-moon said Sunday he has never seen anything like the→

Retail Sales increase 0.4% in July

by CalculatedRisk on 8/13/2010 08:30:00 AM On a monthly basis, retail sales increased 0.4% from June to July (seasonally adjusted, after revisions), and sales were up 5.5% from July 2009. Retail→

Why Seeking Refuge in Government Debt Won’t Save You

By Joel Bowman 08/12/10 Lake Livingston, Texas – Oh, a storm is threat’ning My very life today If I don’t get some shelter (Ooh yeah) I’m gonna fade away. – Gimme Shelter, The Rolling→

Corporate-Muni Bond Yield Gap: The Sign of Another Crisis?

By The Mogambo Guru 08/12/10 Tampa, Florida – The jillions of dollars in municipal bonds issued by cities and states over the last half century are getting a lot of attention lately, mostly→

Frontrunning: Friday 13th Post Hindenburg Omen Edition

Submitted by Tyler Durden on 08/13/2010 07:30 -0500 Obama’s economic tragedy – U.S. fiscal gap makes Greece look responsible (Washington Times) The Dodd-Frank Wall Street Reform and→

Things In Spain So Good, Banks Borrow A Mere Record €140 Billion From ECB In July

Submitted by Tyler Durden on 08/13/2010 08:13 -0500 This was our feeble attempt at MSM headline creation. According to Bank of Spain data, Spanish banks were responsible for borrowing a third of→

At The Current Level Of Jobless Claims, The Economy Is Screwed

The Pragmatic Capitalist | Aug. 13, 2010, 5:48 AM | 1,031 | 11 Without a sustained recovery in the labor market you can pretty much kiss a sustained economic recovery good bye. Today’s→

Swedish Motorist Driving A Benz Gets Slapped With Record $1.1 Million Speeding Ticket

Gus Lubin | Aug. 13, 2010, 8:57 AM | 299 | 3 A Swedish driver just registered the world’s highest speeding ticket while driving a $500,000 Mercedes-Benz Gullwing on Swiss roads at 190→

Bank Profits a sign of economic sickness, not health

Published in August 11th, 2010 Posted by Steve Keen in Debtwatch The record $6 billion profit that the Commonwealth Bank is expected to announce today is a sign of an economy that has been taken→

Bill Gross Issues Ultimatum: GSEs Keep Government Guarantee Or Else

Submitted by Tyler Durden on 08/12/2010 08:10 -0500 In an interview with the FT, Pimco’s Bill Gross flatly warned the government, in advance the housing finance conference that will begin→

30,000 People Line Up For Housing Aid In Atlanta, As Police Are Called Out To Stem The Chaos

Joe Weisenthal | Aug. 12, 2010, 7:51 AM | 596 | 16 Welcome to the recovery. Atlanta Journal Constitution (via Drudge): East Point housing officials began accepting Section 8 applications 90→

Jobless Situation Gets Worse, As Initial Claims Jump To 484,000

Joe Weisenthal | Aug. 12, 2010, 8:30 AM | 375 | 11 The numbers: And we’re not just stalling out. We’re getting worse, as initial jobless claims spike to 484K. 450K would be nice→

Took Out A Massive Home Equity Loan During The Boom? You Can Now Settle For Pennies On The Dollar

Joe Weisenthal | Aug. 12, 2010, 6:30 AM | 1,342 | 7 It sounds like a come-on from some sleazy commercial you’ve seen on TV, but it’s true! If you went massively into debt during→

Debts Rise, and Go Unpaid, as Bust Erodes Home Equity

By DAVID STREITFELD PHOENIX — During the great housing boom, homeowners nationwide borrowed a trillion dollars from banks, using the soaring value of their houses as security. Now the money has→

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