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Our world balances on a sea of debt

The banks that control the world’s supply of money are no better than counterfeiters – and their system of juggling debt has left the global economy teetering on the brink of ruin. Convicted fraudster Darius Guppy offers a provocative personal view By Darius Guppy Published: 7:14PM GMT 20 Feb 2010 Darius Guppy: Since serving his prison sentence he Full Article

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Strategic defaults on homes on the rise

Carolyn Said, Chronicle Staff Writer Monday, March 8, 2010 Lance Iversen / The Chronicle Jose and Anna Tolentino still live in their Novato condo that is underwater, but they stopped paying the→

How Have U.S. Stocks Defied Gravity for So Long?

This Tuesday will mark the anniversary of last year’s US stock market low. Since then the market has rallied by 70 percent in a recovery only slightly less suspicious than a Madoff hedge fund. A→

Pound falls again on deficit fears• Sterling drops below $1.50 on warnings from ratings agency Fitch

• Sterling drops below $1.50 on warnings from ratings agency Fitch • January’s trade gap nears £8bn adding to pressure on pound The pound fell to $1.494 this morning after comments from→

Mutual Fund Cash Depletion Highest Since 1991

In what can best be described as a contrarian indicator with an uncertain timing trigger, Mutual Fund Cash Depletion Highest Since 1991. Equity mutual funds are burning through cash at the fastest→

Goldman: Forget Pound Doom And Gloom, The UK Is In Much Better Shape Than You Think

Gregory White | Mar. 9, 2010, 9:02 AM | 24 | 1 While the news on export weakening this morning is pushing the pound downward, Goldman’s Erik F. Nielsen is arguing that the UK is in much better→

Program Will Pay Homeowners to Sell at a Loss

Published: Monday, 8 Mar 2010 | 10:21 AM ET In an effort to end the foreclosure crisis, the Obama administration has been trying to keep defaulting owners in their homes. Now it will take a new→

Bob Janjuah – “Hopefully, For All Our Sakes, The Bubble Bursts Sooner Rather Than Later”

Submitted by Tyler Durden on 03/08/2010 08:55 -0500 Submitted by the man himself in all its epilepsy-inducing grammatic glory. As always read this in parallel with Seth Klarman’s lessons. In→

Bloomberg: Banks Face Writedowns after FDIC Auctions

by CalculatedRisk on 3/08/2010 09:17:00 AM From James Sterngold at Bloomberg: ‘On the Edge’ Banks Facing Writedowns After FDIC Loan Auctions (ht jb) A Federal Deposit Insurance Corp. plan to→

America’s Commodity Crisis – 2010 Edition

Courtesy of Phil’s Stock World, by Phil Commodities are a TAX. They are the worst kind of tax because they flatly (not progressively) charge every man woman and child in this country more money→

University of California Campus Erupts In Riots; Student Loan Scam Drives Up Cost Of Education; Expect More Riots

Inquiring minds are reading about student riots at the University of California. Students at the University of California’s flagship Berkeley campus took to the streets on Friday night,→

Russia Accumulates Gold, As BRIC Nations Sense The Age Of The Dollar Is Toast

Jesse’s Cafe Americain | Mar. 8, 2010, 9:00 AM | 216 | Thanks to friend Dave at Golden Truth for this updated chart. As you know, Russia, India, China and some of the BRIC-like→

Sultans Of Swap: Fearing the Gearing!

Stock-Markets / Credit Crisis 2010 Mar 04, 2010 – 02:57 PM By: Gordon_T_Long Ever imagine getting your tie caught in a mechanical set of gears (sorry ladies – but I will spare you). The→

British Pound in for a Sharp Fall?

by Bryan Rich 03-06-10 In my December 26 Money and Markets column I focused on the outlook for 2010, and the looming threats to global risk appetite. I warned that sovereign debt problems→

Vatican hit by gay sex scandalVatican chorister sacked for allegedly procuring male prostitutes for papal gentleman-in-waiting

Pope Benedict XVI greets cardinals in the Clementine Hall at the Vatican. Photograph: Max Rossi/AFP/Getty Images The Vatican was today rocked by a sex scandal reaching into Pope Benedict’s→

Our world balances on a sea of debt

The banks that control the world’s supply of money are no better than counterfeiters – and their system of juggling debt has left the global economy teetering on the brink of ruin. Convicted→

Obama Now Has Unprecedented Opportunity To Pack The Federal Reserve

Joe Weisenthal | Mar. 6, 2010, 9:54 AM | 202 | 2 Image: The White House When a President has the opportunity to appoint several Supreme Court justices it’s an opportunity to have a→

The Scariest Job Chart Ever

We can debate whether jobs number was good or not, but this much is clear, compared to other recessions, the job losses, and lack of job gains, are truly unprecedented (via FelixSalmon and Catherine→

Labor Unrest Spreads across Europe: Strike wave hits Europe as workers oppose austerity measures

by Ulrich Rippert Global Research, March 5, 2010 World Socialist Web Site Last week was marked by two significant developments. A strike wave hit Europe as workers in a series of countries began to→

Credit Union Pays Savers to Close Their Accounts; Deposit Insurance Makes Saving Accounts a Losing Proposition for Banks

Nevada Federal Credit Union has too much money and does not know what to do with it. Worse yet, sitting in cash is costing the credit union money. Insurance premiums are the culprit. On top of any→

The Sketchy Real Estate Investment Ad On CNBC And FOX Sounds Like A ‘Straw Man’ Scam

Lawrence Delevingne and John Carney | Mar. 5, 2010, 5:32 PM | 1,503 | 11 Is Wall Street Investment Bankers Inc. just a “straw man” real estate investment fraud? Yesterday, we noticed→

Germany Wants Greece To Sell Off Its Islands In Return For Cash

Vincent Fernando | Mar. 4, 2010, 4:59 AM | 2,349 | 25 What does Germany lack? Great Mediterranean beaches. Perhaps that’s the motivation behind a German MPs suggestion that Greece sell some→

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