Psst! Timmy.I think we have a problem

This monster on the left is supposed to be a hydra headed monster, a metaphor for the dangerous silliness going on in DC. You thought the banks were insolvent because the real estate market tanked because immigrant strawberry pickers were falling behind on their San Joaquin Valley mcmansions after their ARMs reset. Well actually it’sContinue reading “Psst! Timmy.I think we have a problem”

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The Summers/Geithner Burka

I have spent the past 2 days looking at Trashy Tim’s latest regurgitation of Horrible Henry’s failed TARP program and the long blog I wrote examining the pros(none) and the cons(many) so depressed me that I sent it to my digital landfill and I will now try again. If you were hoping that that illContinue reading “The Summers/Geithner Burka”

America:Cognitive Dissonance on Steroids

I’ve been falling behind a bit on my blog trying to study the Panic of 2008 and I find myself returning again and again to either pictures from the Great Depression like this gem by Margaret Bourke-White from 1937 or images of lying and liars . But the thought hit me the other day afterContinue reading “America:Cognitive Dissonance on Steroids”

Zombie Banks, Zombie Economy, Zombie Politicians

Do you recognize anyone here? Say John Thain or Hank Paulson? I definitely see Tim Geithner there to the right. I keep hearing about the Zombie banks and Ben Bernanke at the Fed really hates the term. But the term is absolutely precious. A zombie is a reanimated human corpse. What better way to describeContinue reading “Zombie Banks, Zombie Economy, Zombie Politicians”

Some NewTrouble Spots

I normally start my morning reading newspapers and online magazines in Europe before the US markets open. The graph to the left shows in percentage to GDP of loans that the Austrian banking knuckleheads made to the developing countries of Eastern Europe. Note that this is as of September 2007. There are no dollar figuresContinue reading “Some NewTrouble Spots”