October 2011
1 post
The Atomic Bomb that is About to Explode at the... →
If the courts stepped in and decided these interest payments were illegal, that would certainly be a whole lotta money flying out of the Federal Reserve at once.
I’m not sold on the logic that this would necessarily lead to hyperinflation. The money might fly right back into the Federal Reserve as Treasury Bills, especially if they bumped interest rates a bit.
Still, an interesting story...
September 2011
1 post
Watch(via Tommy Humphreys)
My friend Tommy has been crushing it covering the financial sector. Check out his interview with uber-libertarian Doug Casey. My favourite part is his hypothetical first day in office as the US President: abolish the federal reserve, disband 80% of the Army and the entire CIA & NSA, and default on the debt.
July 2011
1 post
“I could end the deficit in 5 minutes. You just pass a law that says that anytime...”
– Warren Buffett
November 2010
1 post
October 2010
1 post
Nobel Prize Winner Joseph Stiglitz Calls for Jail... →
September 2010
1 post
August 2010
1 post
“If developers were allowed to face directly the high land costs of providing so...”
– Economic View - Why Free Parking Comes at a Price - NYTimes.com
July 2010
2 posts
“Singapore, I think, has the closest thing to the sort of system Hayek had in...”
– So Hayek Basically Had Ezra Klein’s Views on Health Care, Right? (via jimdew) (via continuum)
Great article on free markets, libertarianism, and how it is possible for governments to take care of all their constituents without completely screwing up the market for healthcare.
June 2010
1 post
“How could we have gone back to business as usual and petty political gridlocks...”
– Thomas Friedman - This Time Is Different
May 2010
4 posts
“A true measure of economic vitality is measured by wealth. We can look at...”
– America’s wealthiest 25 percent of households own 87 percent of all U.S. wealth. How the middle class face growing income inequality in the new era of the psychopath corporatocracy.
“These days, trading isn’t risky at all. In fact, it’s safer than...”
– God It’s Great To Be A Banker
“Deep recovery for the global economy depends on the American consumer becoming...”
– Umair Haque / Bubblegeneration
Will BP be nationalized to pay for the exploding... →
(via unsolicitedanalysis)
I’m not normally for nationalisation, but this one seems to make sense. There is an astounding amount of money to recoup.
March 2010
1 post
Crazy Nut Job: You Know Your Bank Sucks When... →
… The FDIC closes it on a Thursday. LibertyPointe Bank of New York, NY just failed. The bank had $209.5 million in total deposits and will have an estimated hit to the Deposit Insurance Fund of $24.8 million. The FDIC entered into a loss-share agreement with Valley National Bank on $181.5…
February 2010
4 posts
U.S. Economy Grinds To Halt As Nation Realizes... →
hilker:
“WASHINGTON—The U.S. economy ceased to function this week after unexpected existential remarks by Federal Reserve chairman Ben Bernanke shocked Americans into realizing that money is, in fact, just a meaningless and intangible social construct.
See: Fiat currency
“One in five men in the U.S. between the ages of 25 and 54 is not working right...”
– Lawrence Summers (via azspot) (via quotingthecrisis)
Be Here Now...by writing about it later. How to... →
January 2010
6 posts
“What are your top three trend predictions for the virtual goods sector in...”
– Our Views Along 30 Experts on the Virtual Goods Market 2010
$KO takes in ~$30B a year, so it definitely isn’t true today. I do think that the turning point is coming, though.
“In my opinion, Goldman is a dangerous, closed ‘Collective Knowledge System‘ ....”
– Howard Lindzon » Blog Archive » What is Goldman Sachs?
Interesting anecdote about the history of $BARE
“But the high ground has shifted. The new high ground is an ethical edge....”
– Google, China, and the New High Ground of Advantage - Umair Haque - Harvard Business Review
“In other words, Google has managed to turn their business quandary over what to...”
– Google + US government = Love? | Net Effect
“After the Savings and Loan crisis of the late 1980’s, there were more than 1,000...”
– Janet Tavakoli: Washington’s Bipartisan Betrayal: The 2015 Global Financial Crisis (via quotingthecrisis)
December 2009
3 posts
“One of the primary lessons of the recent financial crisis is that the most...”
– The importance of institutional redundancy cdixon.org – chris dixon’s blog
“One of the little appreciated facts of American history: the Westward expansion...”
– A peregrination on the nature of money « Locklin on science (via nonolet)
“It’s one of those numbers that’s so unbelievable you have to...”
– Porter Stansberry - The bankruptcy of the United States is now certain
November 2009
8 posts
“China’s banking regulator issued a stern warning to banks to strictly comply...”
– Denis McMahon in China’s banking regulator talks tough about complying with capital-adequacy rules - WSJ.com (via quotingthecrisis)
“Ultimately, Chinese growth is the result of a great skyhook: an artificially...”
– What’s Your Strategy for the Next Decade? - Umair Haque - HarvardBusiness.org
“A new decade’s breaking, and in it, people, companies, and countries will...”
– What’s Your Strategy for the Next Decade? - Umair Haque - HarvardBusiness.org
Lots of people make a living saying that the sky is falling. Umair is the only one I take seriously.
“Debt didn’t get dangerously out of scale because the system was broken. It got...”
– How the tax code encourages debt : The New Yorker
I switched majors from history to finance once I...
unsolicitedanalysis:
The biggest thing we’re doomed to repeat is failed monetary policy. That’s been true from the Romans to the Russians.
continuum:
Keynesians say you cannot save out of a recession. While true, you can’t either spend out of a multi-trillion debt hole. #austrianeconomics
“We all know at this point that our banking system is being used as an...”
– Dylan Ratigan | Veterans Get Lip Service, Bankers Get Billions & We Get Foreclosures (via poortaste)
October 2009
9 posts
“…42% of American men with fathers in the bottom income quintile remain there as...”
– Inequality Begets Inequality (via azspot)
The American Dream may be just that
Editorial - Ongoing Agony of the Banks -... →
quotingthecrisis:
continuum:
It is hardly surprising that GMAC is circling back to the government for a third helping of taxpayer money. GMAC is struggling under the double whammy of bad car loans and the fallout from its misguided foray into mortgage finance at the height of the housing bubble. After the government applied stress tests to the banks last May, it was the only big bank that...
Quotation Of The Day
quotingthecrisis:
ataxiwardance:
mattpayton:
“And now there are five — five Wall Street behemoths, bigger than they were before the Great Meltdown, paying fatter salaries and bonuses to retain their so-called ‘talent,’ and raking in huge profits. The biggest difference between now and last October is these biggies didn’t know then that they were too big to fail and the government would bail...
Buffettism
taitran:
• Rule No.1: Never lose money. Rule No.2: Never forget rule No.1 • Be fearful when others are greedy. Be greedy when others are fearful • It is far better to buy a wonderful company at a fair price than a fair company at a wonderful price • Whether we’re talking about socks or stocks, I like buying quality merchandise when it is marked down • Price is what you pay. Value is what you get...
“The theory that bailout benefits sans meaningful reform will trickle down and...”
– Reinventing Wall Street From the Bottom Up - Umair Haque
“If they’re too big to fail, they’re too big,” Greenspan said today. “In 1911 we...”
– Alan Greenspan
“When you take any money at all from a big VC in a seed round, you are...”
– Chris Dixon (via entrepreneurwisdom)
Yes. This always bothered me. I’d rather raise from a group of great angels (and therefore herd a lot of cats) than run the risk of having a seed VC not lead the next round. And if they do end up leading there are lots of distorted incentives that can cause...
“One interesting thing that I’ve always found about the film business from...”
– Marginal Revolution: the unusual economics of the film industry
September 2009
15 posts
“Central bank officials are discussing plans to use so- called reverse repurchase...”
– Fed Said to Start Talks With Dealers on Using Reverse Repos - Bloomberg.com
I’m sure if I took the time to grok it would become sensical, but at the moment it would be much more pleasing to simply say “reverse repurchase agreements?” Are you f*cking kidding me?
What’s worse is that the industry...
“At the last MIT Venture Capital conference, a speaker brilliantly described the...”
– What Have VCs Really Done for Innovation?
Comment by @rodmaz
“What we need to do is to apply the same rules to VC’s which they impose on their...”
– What Have VCs Really Done for Innovation?