U.S. is in worse shape than Greece. U.S. unemployment is on the rise again – it has reached nine point six per cent, the first increase in four months. Some economists are arguing that the Obama administration needs to introduce another stimulus program to create new jobs. But Larry Kotlikoff, professor of economics at the Boston University, believes the U.S. needs to start cutting spending immediately – or face bankruptcy…
Sep 05
The discussion is extremely well-informed. CDOs, CDS, SIVs, ratings agencies and securitization are topics. A+ satire.
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Aug 06
Telegraph TV’s Robert Miller brings you the latest business news and economic analysis from banking, industry and personal finance sectors.
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Jul 29
Warning: The Tax-and-Spend Government is Out of Control and Sending IRS Thugs to Get You. You can sit back and wait as the tax man cometh, or you can Fight Back with this instant download e-book! Arm yourself with 3 ready-to use strategies to Untax Now! Click Here!
PBS Video: Geithner on Finreg — July 22, 2010
Not sure how he keeps a straight face through the lies. He blames regulators in a general sense with no acknowledgement of the role he played as President of the New York Fed. Rose is complicit. Four minute summary is above. The complete interview is available below.
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Jul 29
July 28 (Bloomberg) — Lloyd Khaner, general partner at Khaner Capital Management, talks about the outlook for gold prices and investment strategy. Khaner speaks with Jon Erlichman on Bloomberg Television’s “InsideTrack.”
Copyright Bloomberg 2010
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Jul 28
Peter Schiff is a successful businessman, bestselling author, and economic expert widely credited with foretelling the US economic crisis years before it occurred.
Peter is not a politician and has never held elected office, instead dedicating his entire adult life to economics and finance. A graduate of the University of California, Berkeley, Peter studied finance and accounting before joining a prominent brokerage firm. In 1996 he acquired Euro Pacific Capital, a small brokerage with no clients or revenues, building it into an industry leader in international investment strategies with thousands of clients and six offices nationwide. http://schiffforsenate.com/
Jul 02
The financial reform bill currently working its way toward President Barack Obama’s desk for signing is being touted as the biggest overhaul of the banking and investment sectors since the Great Depression.
But the new regs won’t be any more effective than the ones they replace in fixing anything or preventing the next major panic for at least three reasons.
1. New Watchdog, Old Tricks
They create a new watchdog consumer agency designed to protect consumers from their own supposed stupidity. You’ll now be facing fewer choices when it comes to getting credit cards, loans, and other basic financial transactions.
2. Never Too Big To Fail
They replace “Too Big to Fail” with… “Too Big to Fail.” One of the reasons why major financial institutions played Russian Roulette with the economy was because they were betting they would get bailed out. Which is precisely what happened. The new rules codify the idea that the government will make sure certain institutions can never fail. And if you think the big boys won’t game that system, then you don’t understand how well Citigroup, Goldman Sachs, et al have come through the current meltdown.
3. Housing Bubble Trouble
The financial crisis was set into motion by government policies that encouraged people to buy homes they couldn’t afford at prices that were unsustainable. Between desperate attempts to keep people in houses and to keep interest rates below an effective rate of zero, the government continues to pour more money down the same rathole.
Markets work best when the risk and reward incentives are clear cut. When investors know they really can lose it all, they act responsibly with their money. If regulators think they can create a system that cushions us from bad decisions and doesn’t encourage bad behavior, it’s a delusion we’ll all be paying for for a very long time.
1. New Watchdog, Old Tricks
They create a new watchdog consumer agency designed to protect consumers from their own supposed stupidity. You’ll now be facing fewer choices when it comes to getting credit cards, loans, and other basic financial transactions.
2. Never Too Big To Fail
They replace “Too Big to Fail” with… “Too Big to Fail.” One of the reasons why major financial institutions played Russian Roulette with the economy was because they were betting they would get bailed out. Which is precisely what happened. The new rules codify the idea that the government will make sure certain institutions can never fail. And if you think the big boys won’t game that system, then you don’t understand how well Citigroup, Goldman Sachs, et al have come through the current meltdown.
3. Housing Bubble Trouble
The financial crisis was set into motion by government policies that encouraged people to buy homes they couldn’t afford at prices that were unsustainable. Between desperate attempts to keep people in houses and to keep interest rates below an effective rate of zero, the government continues to pour more money down the same rathole.
Markets work best when the risk and reward incentives are clear cut. When investors know they really can lose it all, they act responsibly with their money. If regulators think they can create a system that cushions us from bad decisions and doesn’t encourage bad behavior, it’s a delusion we’ll all be paying for for a very long time.
Approximately 2 minutes. Produced by Meredith Bragg and Nick Gillespie, who also hosts.
Go to http://reason.tv for reference links and downloadable iPod, HD, and audio versions of this and all our videos, and subscribe to Reason.tv’s YouTube channel to receive automatic notification when new material goes live.
Max Keiser takes offense to Goldman Sachs story
These guys are talking about a different reserve currency that is needed. I don’t think people want or are willing to try a new one, at least I am not that trusting. Please give me a break, another fiat currency.
Why can’t we go back to trading in precious metal coins again. I trust gold and silver will be valued the same all over the world. If people don’t want to carry gold they can have it on deposit and use debit cards for this too, can’t they? I don’t know… Maybe I am too practical and I am making too simple a view of this.
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