“I don’t know much about the stock market,” says Matt Taibbi, the witty critic of Goldman Sachs and other financial atrocities, “but when the O’Neills of the world start telling me what a great investment opportunity the American stock market is, I start getting the urge to buy canned food.”
[Read more...]Gentlemen, Start Your Printing Presses!
January 25, 2012 By Leave a Comment
Whoops!…Oh dear!…It looks like Ben fell off the wagon again!
Such a shame. He had been doing so well ever since he put that bottle of “Old Q.E.” back on the shelf last June… and got sober. But a few weeks back, he tripped up on his 12-step program and started nipping at the bottle again. Slowly at first… then to excess.
[Read more...]Greed and Deception on Wall Street
January 13, 2012 By Leave a Comment
[Originally published on February 6, 2009]
For the last several months, the sordid tales of greed and deception issuing from Wall Street have read like the story line from a riveting suspense thriller. But the most recent tales are so unbelievably gruesome that they resemble the story line from a documentary about Jeffrey Dahmer or John Wayne Gacy…or some other serial killer.
[Read more...]How Central Bankers Attempt to “Cure” Insolvency
January 6, 2012 By Leave a Comment
Like trying to patch a nuclear reactor with scotch tape and chewing gum, the central banks of the world’s leading economies are trying to Spackle over cracks in the global monetary system with a variety of desperate tactics and measures.
Unfortunately, hiding the cracks does nothing to strengthen the underlying infrastructure. To the contrary, hiding the cracks dupes individuals into believing all is well, even as the monetary system is crumbling around them.
[Read more...]How Central Banks Attempt to Prop Up the Economy
December 20, 2011 By Leave a Comment
The Dow Jones Industrial Average tumbled about 100 points yesterday — probably not because anyone really wanted to sell stocks, but because no one could think of any really good reason to buy them. This morning, the Dow is soaring more than 300 points — probably not because anyone really wants to buy stocks, but because no one can think of any really good reason to sell them again.
[Read more...]Looking Past Gold’s Poor Performance
December 15, 2011 By Leave a Comment
You don’t go into a Mexican restaurant to order Fettuccine Alfredo; you don’t go into Home Depot to buy a wedding dress; you don’t go into Goldman Sachs to get fair a deal…and you certainly don’t go into gold and silver to lose money during a currency crisis.
But that’s exactly what’s happening.
[Read more...]
Goldman Sachs is a “Sell”
For once, we agree with the insiders at Goldman Sachs. The company’s stock is a “Sell.”
Okay, so the insiders didn’t exactly say their stock is a “sell,” but they didn’t need to. Their feet did all the talking. Last week, nine Goldman insiders scurried away from their stock as fast as the law would let them.
[Read more...]