Daily Digest

Daily Digest 3/11 - BofA Reaches Housing Deal, Greece 'Meets Bailout Conditions' After Swap, 3/2009 To Today

Sunday, March 11, 2012, 11:46 AM
  • Bottoms Up! From March 2009 To Today
  • Deficits Push N.Y. Cities and Counties to Desperation
  • Inter-Regional Trade Movements of Petroleum: Part 2 Global Trends in Exports and Imports
  • Bank of America Reaches Deal on Housing
  • Tax Cheats Become Italy’s Public Enemy
  • Greece 'Meets Bailout Conditions' After Debt Swap
  • U.S. Extends Its Run of Strong Job Growth Another Month
  • The Conundrum: David Owen Explains How Good Intentions Hurt the Environment

Crash Course DVDOwn the Crash Course Special Edition Set with Presenter’s Pack (NTSC or PAL)

Economy

Bottoms Up! From March 2009 To Today (Davos)

Since the market made its infamous 666 low three years ago yesterday, how have various asset classes performed? Strategas Partners via Barron’s gives us the details...

Deficits Push N.Y. Cities and Counties to Desperation (John M.)

On Tuesday, Suffolk County, one of the largest counties outside New York City, projected a $530 million deficit over a three-year period and declared a financial emergency. Its Long Island neighbor, Nassau County, is already so troubled that a state oversight board seized control of its finances last year.

And the city of Yonkers said its finances were in such dire straits that it had drafted Richard Ravitch, the former lieutenant governor, to help chart a way out.

Inter-Regional Trade Movements of Petroleum: Part 2 Global Trends in Exports and Imports (Crash_Watcher)

These data suggest that gross and inter-regional global imports and exports of petroleum and crude oil peaked five years ago in about 2007, or earlier in some cases.

Bank of America Reaches Deal on Housing (jdargis)

In addition, Bank of America is temporarily halting foreclosure sales of homes that could be covered under the settlement, until it has time to solicit potential beneficiaries. Bank of America is the nation’s second-largest mortgage servicer after Wells Fargo, and has been severely criticized for its handling of foreclosure cases.

Tax Cheats Become Italy’s Public Enemy (jdargis)

Italian officials say that an estimated $150 billion are lost each year in undeclared income. The national statistics agency estimates that the underground economy amounts to about 17.5 percent of gross domestic product. The national debt is 120 percent of gross domestic product.

Greece 'Meets Bailout Conditions' After Debt Swap (jdargis)

In a statement after a conference call of finance ministers, Jean-Claude Juncker, president of the 17-nation eurogroup, said "the necessary conditions are in place to launch the relevant national procedures required for the final approval" of its bailout.

Finance ministers from the eurozone nations meet on Monday and are expected to officially sign off on Greece's second bailout.

U.S. Extends Its Run of Strong Job Growth Another Month (jdargis)

Looking over her recent cases, Ms. Leginski cited a new college graduate who found work helping the developmentally disabled, a 60-year-old manufacturing specialist whose contract job in Mexico had led to full-time work back home, and a financial services worker who had landed a management job in Charlotte, N.C.

Energy

The Conundrum: David Owen Explains How Good Intentions Hurt the Environment (jdargis)

Instead, he proposes that a truly “green” car might have “no air conditioner, no heater, no radio, unpadded seats, open passenger compartment, top speed of twenty-five miles an hour, fuel economy of five or ten miles a gallon. You’d be able to get your child to the emergency room, but you’d never run over to Walmart for a bag of potato chips, and you’d take public transportation to work.”

Article suggestions for the Daily Digest can be sent to [email protected]. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the "3 Es."

6 Comments

Davos's picture
Davos
Status: Diamond Member (Offline)
Joined: Sep 17 2008
Posts: 3620
Jim Quinn on Bottoms Up

TBP (another favorite blog of mine) had some of Jim Quinn's brilliance, that I caught well after I sent that link into the dd for consideration... What I like about JQ is that he, like CM is uber-educated (Wharton) but has common sense.  Best of all, he can sling the m-word (and a few others) around.  He just flat out tells it like it is.

Jim Quinn at The Burning Platform added a few to this, link.

  • Silver is up 155% since March 9, 2009
  • Overall food prices are up 35% since March 9, 2009
  • Beef prices are up 72% since March 9, 2009
  • Gasoline prices are up 132% since March 9, 2009
  • Corn prices are up 70% since March 9, 2009

To which I'd add:

Bernanke lies saying inflation is 2.2%.  

The psychopathy checklist breaks into four different aspects.

✓ Being a manipulative person or a liar.

✓ Callous, kind of a lack of empathy towards others. 

Tycer's picture
Tycer
Status: Platinum Member (Offline)
Joined: Apr 26 2009
Posts: 610
Boy that BofA deal burns my...

 They get off scott free writing down loans they'd lose anyway. What a farce this all is. My word.

Davos's picture
Davos
Status: Diamond Member (Offline)
Joined: Sep 17 2008
Posts: 3620
Tycer wrote: They get off
Tycer wrote:

 They get off scott free writing down loans they'd lose anyway. What a farce this all is. My word.

We paid their "bailout", we paid their bonuses and now, for the (ehem) win, we get to pay their forgery fines.  

Put psychopaths in charge and you and I will remain forever in a nut-house.

The world is a dangerous place to live; not because of the people who are evil, but because of the people who don't do anything about it.~Einstein

actual bailout amount

 

Nothing like corproatocracy to replace capitalism.

Merril Lynch Chief Of Staff

["

"]

And today, Citi replaces JP Morgan as chief of staff.

[

]

 

Davos's picture
Davos
Status: Diamond Member (Offline)
Joined: Sep 17 2008
Posts: 3620
3576 & you'd think I'd remember how to embed videos...

White House Chief of Staff Donald Regan

"http://www.youtube.com/watch?v=QTcL6Xc_eMM&feature=player_embedded"

And today, Citi replaces JP Morgan as chief of staff.

"http://www.youtube.com/watch?v=TlM1TSTJ0Fo&feature=player_embedded"

Not too difficult to see the 2 party/1party system exposed as corporations buying politicians and running the place.

pat the rat's picture
pat the rat
Status: Silver Member (Offline)
Joined: Nov 1 2011
Posts: 115
bank of america mortgage reduction

    I was reading about bank of america giving giving a $100,000.00 reduction in mortgage.If you give me that I will pay it off and puut $ 24,000.00 in the bank ! A pissed off pat the rat !

Davos's picture
Davos
Status: Diamond Member (Offline)
Joined: Sep 17 2008
Posts: 3620
pat the rat wrote:     I
pat the rat wrote:

    I was reading about bank of america giving giving a $100,000.00 reduction in mortgage.If you give me that I will pay it off and puut $ 24,000.00 in the bank ! A pissed off pat the rat !

Wonder what would happen if you got that deal and then signed the check Linda Green?

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Login or Register to post comments