Posts Tagged ‘bull flattener’

Notes From Underground: Been Gone So Long It Looks Like 1939

August 27, 2014

It has been refreshing to sit and watch the world spin without the pressure to react to the daily dose of instability. Europe is devolving into the mess that I have been blogging about for almost five years. Two weeks ago I appeared on Rick Santelli’s show and made the comment that anybody who puts money on deposit in a European bank is a MORON. Why would you place money in an institution that pays ZERO when you have great risk of losing a large part of your savings? Capitalism is all about reward/risk and taking great risk for minimal reward is the true measure of stupidity. THE PROBLEM FOR EUROPE IS ITS BANKING SYSTEM. The high level of unemployment has led to high levels of non-performing loans, which has clogged the credit creating system of European banks. In Europe the credit system is heavily dependent on banks rather than corporate bond markets. BANKS ARE NOT LENDING BECAUSE SOVEREIGN BONDS ARE SAFER, especially with the Asset Quality Review (AQR) results that are being released in mid-October.

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Notes From Underground: SettingThe Record Straight … Fair is Only a Line in Baseball

August 2, 2011

The word out of Washington about the BUDGET RESOLUTION is that taxes ought to be raised out of fairness. The President of the U.S. is consistently talking about fair. Give up that specious argument. Is it fair that the savers of this country are being punished so as to bail out the WALL STREET TOO BIG TOO FAIL BANKS? Is it fair that an incompetent Treasury Secretary was allowed to obtain the Treasury position even though it appeared that he cleverly tried to avoid paying taxes? Is it fair that the Wall Street banks were bailed out while mortgage paying homeowners were granted no relief against the coming exploding ARMS mortgages that have worsened the foreclosure problems and continued being an albatross around the neck of the economy?

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