Posts Tagged ‘dollar

30
Mar
10

and we wonder why Muslims hate us..

great video on evolution of Iran-USA relationship over 20th century…also brings up thee old inconvenient point of USA supporting Saddam Hussein’s war against Iran…

Advertisements
17
Sep
08

wipeout of sub-prime financial system

here’s ron paul (once again proven right by this current crisis) breaking down how the fed causes bubbles like our current housing bubble. side note: us govt stopped tracking money supply in 2006.

great graphs of how the american banking industry was slaughtered this year. $1 trillion lost, which roughly equal to the amount of new money printed by the govemment over last few years. to me this is a scary relationship – print tons of money, which then gets lost on stupid loans? waaay easier to lend money when you have a feeling you won’t have to pay it back….

from tech crunch: http://www.techcrunch.com/2008/09/16/the-mess-on-wall-street-four-trillion-dollars-down-the-drain/

27
Aug
08

obamanomics

ny times profiles obama’s economic philosophy and guesses at how he will govern the economy.

http://www.nytimes.com/2008/08/24/magazine/24Obamanomics-t.html?_r=1&scp=1&sq=obamanomics&st=cse&oref=slogin

18
Aug
08

dr. doom

here’s a video of economist nouriel roubini on cnbc talking about the coming american consumer debt crisis (consumer debt = student loans, credit card debt, pay day loans);whom i wrote about yesterday.

http://www.cnbc.com/id/15840232?video=812261135

17
Aug
08

sub prime financial system

here’s an interesting ny times article about an economist that predicted the current mortgage/housing crisis. he has a pretty gloomy outlook on the future of the america’s financial system.

excerpt:

“For months Roubini has been arguing that the true cost of the housing crisis will not be a mere $300 billion — the amount allowed for by the housing legislation sponsored by Representative Barney Frank and Senator Christopher Dodd — but something between a trillion and a trillion and a half dollars. But most important, in Roubini’s opinion, is to realize that the problem is deeper than the housing crisis. “Reckless people have deluded themselves that this was a subprime crisis,” he told me. “But we have problems with credit-card debt, student-loan debt, auto loans, commercial real estate loans, home-equity loans, corporate debt and loans that financed leveraged buyouts.” All of these forms of debt, he argues, suffer from some or all of the same traits that first surfaced in the housing market: shoddy underwriting, securitization, negligence on the part of the credit-rating agencies and lax government oversight. “We have a subprime financial system,” he said, “not a subprime mortgage market.”

Roubini argues that most of the losses from this bad debt have yet to be written off, and the toll from bad commercial real estate loans alone may help send hundreds of local banks into the arms of the Federal Deposit Insurance Corporation. “A good third of the regional banks won’t make it,” he predicted. In turn, these bailouts will add hundreds of billions of dollars to an already gargantuan federal debt, and someone, somewhere, is going to have to finance that debt, along with all the other debt accumulated by consumers and corporations. “Our biggest financiers are China, Russia and the gulf states,” Roubini noted. “These are rivals, not allies.”

The United States, Roubini went on, will likely muddle through the crisis but will emerge from it a different nation, with a different place in the world. “Once you run current-account deficits, you depend on the kindness of strangers,” he said, pausing to let out a resigned sigh. “This might be the beginning of the end of the American empire.”
http://www.nytimes.com/2008/08/17/magazine/17pessimist-t.html?_r=1&scp=1&sq=dr%20doom&st=cse&oref=slogin

nouriel roubini’s blog http://www.rgemonitor.com/blog/roubini

18
Jul
08

ron paul on glenn beck show talks fannie mae

ron paul predicted this mess years and years ago…

granting that if he had his way i probably would be renting an apartment and not owning a house.

17
Jul
08

great explanation of fannie mae / freddie mac

done by a friend of mine.

http://mortgagerateupdate.blogspot.com/2008/07/fannie-mae-freddie-mac-who-are-they-and.html




rss feed (click icon below)

Advertisements