Posts Tagged ‘economic bubble

02
Jul
09

matt taibbi exposes goldman “pump and dump” sachs in new RS article

http://zerohedge.blogspot.com/2009/06/goldman-sachs-engineering-every-major.html

here’s the 60 minutes article on the oil ‘pump and dump’ story:

GREAT TO SEE OUR BAILOUT DOLLARS GOING TO PRODUCTIVE STUFF 🙂

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07
May
09

Capitalism in Crisis

Excerpt from wsj article:

Lending borrowed capital — the essence of banking — is risky. That risk is amplified when interest rates are very low, as they were in the early 2000s because of a mistaken decision made by the Federal Reserve under Alan Greenspan to force interest rates down and keep them down. Because houses are bought with debt (for example, an 80% first mortgage on a house), low interest rates spur demand for houses. And because the housing stock is so durable a surge in demand increases not only housing starts but also the prices of existing houses. When people saw house prices rising — and were assured by officials and other experts that they were rising because of favorable “fundamentals” — Americans decided that houses were a great investment, and so demand and prices kept on rising.

http://online.wsj.com/article/SB124165301306893763.html

21
Sep
08

kevin phillips explains financial crisis on bill moyers

i wrote about his book “bad money” a week ago. he continues to have a very dismal take on our economy, and how the finance/debt business is 25% of our economy. Talks about how America doesn’t ‘produce’ anything any more: Finance, Technology, Service. Stuff is designed here, but made in China.

Hopefully we start making stuff again!

Here’s the whole story at Bill Moyer’s website:
http://www.pbs.org/moyers/journal/09192008/watch2.html




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