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Thursday, Jul 31st

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Explaining Central Banking To The Publicly Educated

How has this central banking scheme "helped"?  It hasn't.  It actually ended up destroying scarce resources as it fooled the participants in the economy for a period of time into thinking they were more wealthy than they really were.


Don't understand economics?  And the thought of even trying makes your eyes cross?

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The Wall Street gold rush in foreclosed homes

Wall St. gold rush Dan Magder recently gave up a top job with private equity firm Lone Star Funds to strike out on his own and become a landlord.

He's joining a growing list of big and small investors who see fat profits to be made in renting out foreclosed homes, especially now the U.S. government is moving ahead with a trial project to sell big pools of single-family homes that Fannie Mae currently owns in some of the hardest-hit housing markets.

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US economic model broken, says survey

“If the American economic system is set up to reward risk takers, what happens when the majority of Americans are no longer willing to take risks?” said David Bowers, managing director of Absolute Strategy Research, a London-based investment consultancy that commissioned the research.

Fairness was the biggest perceived flaw in the economic model – only 20 per cent of Americans said it “distributes wealth and income fairly”. Majorities said the US system did not provide equal opportunities for everyone or reward people for their hard work and skill.

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How Goldman secretly bet on the U.S. housing crash

Goldman SachsIn 2006 and 2007, Goldman Sachs Group peddled more than $40 billion in securities backed by at least 200,000 risky home mortgages, but never told the buyers it was secretly betting that a sharp drop in U.S. housing prices would send the value of those securities plummeting.

Goldman's sales and its clandestine wagers, completed at the brink of the housing market meltdown, enabled the nation's premier investment bank to pass most of its potential losses to others before a flood of mortgage defaults staggered the U.S. and global economies.

Only later did investors discover that what Goldman had promoted as triple-A rated investments were closer to junk.

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Three female regulators' warnings about financial crisis were ignored

Women warned of economic collapseThree regulators did indeed ring warning bells — at the right time, in the right places, and loud enough for other banking and financial system overseers. All three were women: Brooksley Born, Sheila Bair and Susan Bies. All three were ignored.

You may have heard before about the warnings issued by Born, the head of the Commodity Futures Trading Commission in the 1990s, and Bair, the chairwoman of the Federal Deposit Insurance Corp. from 2006 to 2011.

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Capitalism Seen in Crisis by Global Investors Citing Widening Inequalities

Capitalism in crisisInternational investors say capitalism is in crisis, with almost one in three backing radical changes to the system, according to a Bloomberg survey.

As the global financial and business elite gather in Davos for their annual forum, a majority in the Bloomberg Global Poll agree that income inequality hurts the economy and that governments need to do something to address it -- ideas at the heart of “Occupy” protests worldwide.

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As Big Bank Stocks Plunge, CEOs Continue To Reap Huge Salaries

Bank CEO's reap huge profits as shares fallWall Street Pit’s Ron Haruni points out that as the banking industry’s stocks plunged this year — with major megabanks like Bank of America facing uncertain fates — their executives have walked away with sky-high salaries.

Haruni cites the work of Rochdale Securities analyst Dick Bove and shows how banks have seen their value and stocks plunge by double-digits while executive compensation remains high:

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