Two things were said yesterday which give me pause for thought. First, this from Bloomberg, “At the end of the day, there is nothing the Brazilian government can do to fight against the record low yield levels in developed economies,” Bank of America Corp. said in a note to investors. “The government has engaged in …
When I listen to our governments I am starting to feel that I have somehow slipped into the film Men in Black. How else are we supposed to explain that we are now expected to completely forget that it was the banks who created, and are now profiting from, the global catastrophe of debts and …
Whenever you disagree with accepted wisdom and just can’t be made to fall in to line with the plans of the established experts, eventually people get exasperated with you and say, “Yeah, well what’s your idea then? Eh? Let’s hear your plan.” So here is a plan. Not a whole alternative budget or new economic …
QE 2 – An alternative to bailing out the banks again Read More »
The citizens of Ireland have been forced over the last two years to give the bond holders of Anglo Irish bank 20 billion euros. WHY? The Irish government recently told its people the 20 billion was not enough and they MUST give the same bond holders another 10 to 20 billion euros. WHO are these …
I think we have now arrived at a hinge point in the currency war. The USA has decided to throw its weight around. Up till now it has been the U.S.A. complaining loudly and bitterly that China isn’t playing fair by keeping the Yuan artificially undervalued, while China, for its part, largely ignored the complaints. …
The Debt Generation Web site is now up and running. I’ve added a link to it on the ‘links’ list. I have taken down the PDF extract from the book since the web site contains both text and audio extracts. There is also an interview with yours truly. Please feel free to let us know …
Just thought I’d let people know that I will be giving a talk about the book and our present situation, in Lancaster in November. It’s a public meeting at the Gregson Centre on Wednesday 24th November in the evening. It’s open to all, organised by the Green Party. It would be a chance to meet …
I think the big American banks are beginning to panic. I have zero inside knowledge so take what I say as possibly interesting speculation, nothing more. My starting place is JPM’s recent, much trumpeted earnings report. It seemed to be greeted as sure proof that the recovery and the banks were on healthy. Except that …
The Big five American banks, Bank of America, JP Morgan, Morgan Stanley, Citi and Wells Fargo are, I think, waking up to the life threatening danger they are now in. That danger is because the last reason why we ‘need to protect’ those banks has just gone up in flames. Do you remember at the …
Something extremely serious is going to have to happen and rather soon to avert an all out crisis in the U.S. mortgage industry. Not only are the costs of halting their foreclosures, processing the investigations and then fighting law suits brought against them going to cripple the defendants – the banks – BUT we are getting to …
