It’s starting to feel like we never actually emerged from the 2008 crisis: the U.S. government and the Federal Reserve simply threw $13 trillion at the crisis and walked away, hoping that an endless zero-interest-rate-policy (Zirp) would patch over the cracks in the global financial system. What we seem to have now is an endless series of rolling crises instead of one …
Biotech stock bubble set for massive implosion: Stocks rose 88% AFTER Fed chair admitted they were overvalued by J. D. Heyes
If you’re trying to understand today’s stock market and are having some degree of difficulty, you’re not alone. The markets are confusing enough sometimes for experts, so they can be particularly baffling for laypersons. Still, a few economic basics ought to be pretty simple to understand, right? Wrong – apparently. About a year ago, as documented by the Zero Hedge website, Federal Reserve …
Affordable Housing Crisis Grows Across the Country as Apartment Rents Skyrocket By Steven Rosenfeld
On Monday, New York City took a dramatic step that highlights just how out of control rental housing costs have become in the Big Apple and in many cities nationwide. For the first time, New York froze [3] rents for one-year leases on a million rent-stabilized apartments. “Today’s decision means relief,” Mayor Bill de Blasio told [4] reporters. “We know tenants have been forced to make …
Goldman Sachs Doesn’t Have Clean Hands in Greece Crisis By Pam Martens and Russ Martens
Are Goldman Sachs executives Lloyd Blankfein, Gary Cohn and Addy Loudiadis losing any sleep over elderly pensioners waiting outside shuttered banks in Greece, desperately trying to obtain their pension checks to pay their rent and buy food? Are these Goldman honchos feeling a small pang of conscience over the humiliation by creditors of this once proud country? Perhaps Blankfein, who …
Central Bank of Central Banks Warns That World is Unprepared to Fight Global Crash By Mac Slavo
According to the Bank for International Settlements (BIS), the shadowy “central bank of central banks,” the world as it stands is incapable of combating another global financial crash – a crash that there is every reason to think is coming. That’s because the economy remains in the hands of the Federal Reserve and other central banks. The financial wizards in THIS …
Treasury Now Has Color-Coded Financial Terror Alerts By Pam Martens and Russ Martens
Remember when the Department of Homeland Security was issuing those color-coded terrorist alerts? Well, they don’t do that anymore. They’re back to using plain ole black-and-white words to describe threats. Apparently, however, the U.S. Treasury’s Office of Financial Research (OFR) thought it was such a cool idea that they’ve started color-coding threats to our financial security from the denizens on Wall …
Wall Street Frets about its Nightmare Generation by Wolf Richter
Turns out, to the greatest consternation of some folks on Wall Street, millennials are smart. “They don’t trust the stock market,” Goldman Sachs determined in a survey. Only 18% thought that the stock market was “the best way to save for the future.” It’s a big deal for Wall Street because millennials, having surpassed the baby boomers, are now the largest US …
A Progressive Stimulus Package for America’s Future Sustainability
A Progressive Stimulus Package for America’s Future Sustainability by Gary Null, PhD April 7, 2009 There is no doubt that a stimulus package is urgently needed at this critical time of a global economic meltdown. Although there is great reluctance across all financial, political and media sectors to use the “D” word, there are certainly signs that the nation …
Why Jamie Dimon Is One of the Biggest Economic Polluters in America By Lynn Stuart Parramore
Ed Kane, a professor of finance at Boston College and grantee at the Institute for New Economic Thinking [3], studies the dangerous risk-taking of giant banks. He sees the cultures of Wall Street and regulators coming together to turn taxpayers into victims of theft and great harm. Like extreme drunk drivers before MADD or smokers on airplanes prior to the 1980s ban, …
Meet the New Shadow Bank (It’s a Lot Like the Old Shadow Bank) by Tracy Alloway
Good definitions of shadow banking — the ominously-titled corner of the financial system — are hard to come by. One of the more broader definitions used by the Financial Stability Board includes any vehicle that provides credit and leverage and which falls outside the realm of traditional regulated banking. That would mean anything from hedge funds and private equity to non-bank mortgage lenders. A more narrow definition suggest that …