The Obama Administration has taken recycling way too far. There is a rumor that former economic adviser Larry Summers is a potential nominee for President of the World Bank. Is there no one else besides these retreads who have represented and worked for the FINANCIAL-POLITICAL COMPLEX? Summers is a horrible choice as he has been tainted by his work and exorbitant compensation for several Wall Street firms. The idea that the World Bank president has to be an American is a throwback to the times when it was ok to fight anti-colonial wars around the globe and at the same time using the World Bank’s funds to buy friends and influence people no matter how tyrannical the regime.
Posts Tagged ‘Simon Johnson’
Notes From Underground: Can the Obama Administration Please Find People Who Haven’t Been Responsible For Failed Policies?
January 19, 2012Notes From Underground: OBAMA GIVES THE FINGER TO MAIN STREET AND OWS
December 27, 2011The news during the last five days has been sparse as the regular year-end news items filter through the talking heads giving prediction after prediction about what will occur next year. Everything from the break-up of the EU to the closing of the Straits of Hormuz winds its way through the markets. The only significant story is the parking of LARGE AMOUNTS OF EUROS AT THE ECB as the distressed banks of Europe seem to want to place excess reserves with the Draghi Bank rather than buy the sovereign debt of Italy, Spain and the others.
Notes From Underground: Europe has AUSTERITY and POLITICAL REPRESSION; The U.S., FINANCIAL REPRESSION
November 21, 2011****WARNING: TRADING IN HOLIDAY THINNED MARKETS DURING TURBULENT TIMES CAN BE DANGEROUS TO YOUR WEALTH****
Today’s 2-YEAR NOTE auction in the U.S. received a 4.07 bid to cover ratio, the highest in records dating back to 1992. The rate NOTE BUYERS received was a meager 28 basis points. (Yes, thank you sir, may I have another?) There are those on the FED who are concerned that inflation is a threat and feel that the FED is too easy to meet its stable price mandate. The question becomes: Which financial geniuses are purchasing a TAXABLE INSTRUMENT AT A LOWER RETURN THAN THE INFLATION RATE?
Notes From Underground: Unemployment in the U.S.–Does Slowing Jobs Provide the FED With a Pause That Refreshes?
June 5, 2011The U.S. jobs report provided great support to the bears on Wall Street as the 54,000 nonfarm payroll number led to a sell off in the DOLLAR and another drop in the Dow, S&Ps and all other equity indexes. For all the equity down/dollar up analysts, last week was a breakdown of that temporary correlation. U.S. equities were down more than 2% for the week while the EURO was up 2.5%. It seems that the global financial community is becoming more concerned about a softening U.S. economy and what it will mean for the budget discussions and FED policy.