Is It Time to Bail Out of America?

Astonishing Incongruities – instead of bailing out America, should we be bailing out of America?
Is It Time to Bail Out of America?
Courtesy of PAUL CRAIG ROBERTS writing at CounterPunch
California State Controller John Chiang announced on January 26 that California’s bills exceed its tax revenues and credit line and that the state is going to print [...]

When Giants Fall Has Arrived!

That’s the message from author Michael Panzner, who has contributed many excellent articles to Phil’s Favorites and now has a new book out on the shelves of your local book store, or Amazon. – Ilene
When Giants Fall Has Arrived!
Courtesy of Michael Panzner at Financial Armageddon and When Giants Fall

My latest book, When Giants Fall: An [...]

WSJ Weighs In On Peter Schiff

In (partial) defense of Peter Schiff, he made some correct calls, but unfortunately did not turn these calls into profits for his clients. True, it was a particularly vicious year for being only part right!
The Wall Street Journal Weighs In On Peter Schiff
Courtesy of Greg Feirman, at Top Gun Financial Planning
Geez…. Mish’s post from [...]

Autism, Vaccines and the CDC

No need to debate whether science has been held hostage for eight years, but we can ask what areas of science suffered the most and what can we do about it now? This article discusses one of the greatest harms flowing from a combination of failed policies in medical science tainted by greed, willful blindness [...]

January ends with grim news

Is a dicey January setting up for a perilous rest of the year?
January ends with grim news on stocks, jobs, shipping
Courtesy of Mish
The stock market decline that started over a year ago picked up some steam in the Worst January ever for Dow, S&P 500

It was the worst January ever for the Dow industrials and [...]

Kevin Depew Debating Himself

DepewTube: Fed Printing Money Too Fast, Or Not Fast Enough?
Courtesy of Minyanville
Kevin Depew believes the dollar is doomed, debt is too high and the Federal Reserve is printing money. Not so fast, says Kevin’s alter ego. Deflation is creating a massive dollar shortage, meaning the Fed simply can’t print money fast enough.

Did JPM Cause Bernie Madoff’s Ponzi To Collapse?

Here’s the second part of the intriguing JPMorgan-Madoff connection. – Ilene
Did JPM Cause Bernie Madoff’s Ponzi To Collapse?

By John Carney at ClusterStock

Let’s talk about the JP Morgan Chase and Bernie Madoff story we mentioned yesterday. If we’re following this correctly, it seems that starting in 2006 JP Morgan allowed investors to make bets on [...]

Did JPM Dodge Madoff

ClusterStock, which does an excellent job keeping us apprised of developments in the Madoff case, has a couple fascinating reports tying JPMorgan to Madoff. Here’s one, posted yesterday (next article is a follow up).
Did JPM Dodge Madoff, But Leave Its Clients Out To Dry?

By Joe Weisenthal at ClusterStock 

JPMorgan (JPM) says it will incur virtually $0 [...]

Fortress Blocks Redemptions

Dismantling a fortress, as shareholders find themselves buried under rubble…
Fortress Blocks Redemptions as Shareholders Lose 96% Since IPO 
By Anthony Effinger, in Bloomberg
One of the things Wesley Edens did soon after his company bought Canadian ski-resort conglomerate Intrawest Corp. in October 2006 was to finance construction of a $43 million gondola at Whistler, British Columbia.
The new lift, [...]

State of Cringe

Jim Kunstler, whose latest book, "World Made By Hand," a novel of the post-oil future, discusses his vision of how we should be planning for our more immediate future.  
State of Cringe
Courtesy of James Howard Kunstler 

    Just as Mr. Obama has danced into the oval office, we’ve arrived at a moment when a lot of people have [...]

Global Crisis Destroys 40% of World Wealth

Forty percent of the world’s wealth destroyed!  Hard to imagine, except we’ve been watching it day after day.   
Global Crisis Destroys 40% of World Wealth; Bailout to Hit $4 Trillion
Courtesy of Mish
The world Economic Forum is reporting Global crisis ‘has destroyed 40pc of world wealth’

The past five quarters have seen 40pc of the world’s wealth destroyed [...]

Turning Japanese – The Audacity of Reality

Yes We Can – Turning Change into Debt.  Musical selections below.
TURNING JAPANESE – THE AUDACITY OF REALITY
Courtesy of James Quinn, at Financial Sense
 
I can’t believe the news today
Oh, I can’t close my eyes and make it go away
How long…
How long must we sing this song?
How long? how long…
  U2 – Sunday, Bloody, Sunday
Every day seems [...]

Merrill Bonus Scandal Heats Up

It’s good to know Andrew Coumo is taking the initiative to look into to what appears like self-serving manipulation and breach of fiduciary duties. Hope to see more of this.
Merrill Bonus Scandal Heats Up, Cuomo May Demand Repayment

Courtesy of Henry Blodget at ClusterStock

New York Attorney General Andrew Cuomo is stepping up the investigation into Merrill’s [...]

More than Just Numbers

Here’s another important, actually horrifying, article started by Michael Panzner, in which he references and includes articles by Tom Engelhardt and Nick Turse, stressing that the consequences of an economic meltdown stretch far beyond finances. 
More than Just Numbers
Courtesy of Michael Panzner at Financial Armageddon

In today’s increasingly digital world, analysts spend a lot of time [...]

Rewarded for Failure

A few months ago, in Crisis Approaching, we discussed a Supreme Court case (Santa Clara County v. Southern Pacific Railroad Company, 1886) noted for granting corporations the rights of natural persons.  "The corporate personhood debate refers to the controversy (primarily in the United States) over the question of what subset of rights afforded under the [...]