Monthly Archives: December 2010

The Myth-ing Logic of Phony IOUs in the Soc Sec Trust Funds

Credit Default Swaps PIIGS vs CINN Group (California, Illinois, New York, New Jersey) – In response to European Sovereign Debt Crisis in Pictures; PIIGS Spreads to Germany at or Near Record Levels I received this chart from Chris Puplava at Financial … Continue reading

Posted in Uncategorized | Leave a comment

Euro has 1-in-5 chance of lasting decade: UK think-tank

 Copper Advances to Record on Speculation Supply Shortage Poised to Worsen – Copper futures rose to a record for the fourth time this week as speculation heightened that a supply deficit will widen as China, the world’s biggest consumer, leads a … Continue reading

Posted in Uncategorized | Leave a comment

Fed’s balance sheet falls in latest week

Unofficial Problem Bank list increases to 935 Institutions – Note: this is an unofficial list of Problem Banks compiled only from public sources.  Here is the unofficial problem bank list for Dec 31, 2010. Changes and comments from surferdude808:  The FDIC … Continue reading

Posted in Uncategorized | Leave a comment

In defense of doom and gloom in an oil-price bet

In defense of doom and gloom in an oil-price bet – In peak-oil debates, Cornucopians cite improving technology that will extract fossil fuels more economically. New deposits will be found; new methods will retrieve more from existing reserves; new ways … Continue reading

Posted in Uncategorized | Leave a comment

Dead Soul Is a Debt Collector – WSJ

Woman Deceased in 1995 Continued to Robo Sign Till at Least 2010  – Yves Smith – How, may you ask, can a woman who has been dead since 1995 continue to sign documents in 2010? Normally, one would hazard to guess … Continue reading

Posted in Uncategorized | Leave a comment

When is QE not QE?

When is QE not QE? The most recent Fed balance sheet data are summarized here. Note where the Fed was yesterday (12/29/10) relative to a year ago (12/30/09). On the asset side, "securities held outright" has increased by about $300 billion, … Continue reading

Posted in Uncategorized | Leave a comment

The Lender of Last Resort

The Lender of Last Resort – Nick Rowe – What Paul Krugman is saying about Ireland and the Eurozone is not wrong. But he keeps missing the most important point. And it’s bugging me. Sure, the scale of Ireland’s bank guarantees is … Continue reading

Posted in Uncategorized | Leave a comment