Tag Archives: banking

It’s characteristic of the time that we’re living in that there simply is no sense of consequence. And that’s exactly what you get when you have a Federal Reserve that’s out of control and a public that is filled with technological narcissistic visions of Santa Claus delivering rescue remedies on demand. And so there’s no general sense that when you do things, bad things can happen. 

James Howard Kunstler is concerned. Sure, he still has the same issues with the West's highly energy-consuming suburban lifestyle that he famously brought to light in his books, The Long Emergency, the World Made by Hand series, and Too Much Magic. But beyond our decaying fundamentals, he's distressed by society's unwillingness to be honest with itself about the issue's it's facing.

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Rather than attempt to predict the unpredictable – that is, specific events and price levels – let’s look instead for key dynamics that will play out over the next two to three years. Though the specific timelines of crises are inherently unpredictable, it is still useful to understand the eventual consequences of influential trends.

In other words: policies that appear to have been successful for the past four years may continue to appear successful for a year or two longer. But that very success comes at a steep, and as yet unpaid, price in suppressed systemic risk, cost, and consequence.

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•  Misdisinformation
• Hunger hits Detroit’s middle class (H/T Yashash)
• Peter Schiff on Health Care & Don’t Put Words In My Mouth, (Video, H/T Spilldenmark)
• Max Keiser – On Criminal Banking Syndicates, Moral Hazard, (Video on page)
• Jeffrey Sachs, Columbia University, Crisis, Economic and Environmental and others (FORATV Video)
• From Calculated Risk, Google Maps does foreclosures
• TrimTabs Unemployment (Video on page)
• Bankrupt: Federal Reserve Balance Sheet Upda

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• BIS, The Central Bank of all Central Bankers: The Central Bank WAS Warned in 2003 (Repost)
• What Should a Central Bank Do When (Chart)
• Happiness Isn’t …
• Holders of Treasuries (Chart)
• Philly Fed Index Dissapoints (Chart)
• Whalen on Banking (Video)
• U.S. bank “earnings”: revenues falling, losses rising
• California closes state offices to save cash
• The Usual Suspects (Humor)
• State Tax (Chart on page)

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