It’s clear to at least some that banks can’t subsidize the banks forever. So where does that leave bank share prices? It’s a valid question, even if it can’t be heard right now over the din of champagne corks popping and the chorus of Hallelujahs wafting up over Wall Street and the White House.
Back in the US of A, the feds have decided the results of the stress tests are not to be released on the May 4 deadline as promised. One is reminded of the pathetic delays of the Bush administration’s report on WMDs in Iraq. What could be so sensitive in the stress tests results that the public, who funded the tests, can’t be apprised of?
The anti-wealth rhetoric isn’t confined to Argentina’s dysfunctional democracy. Will’s father, Bill, who recently visited us down here in Buenos Aires, says the “war against capitalism” is a worldwide phenomenon.
What a wonderful time to be alive! Never has it been easier to feel superior to our fellow man! So many dopey ideas…so many preposterous delusions! So many fools…so eager to part ways with their money!
Christmas may be over, but Obama is keeping the ’season of giving’ going on the Hill…the next bubble will be in public debt… Stock prices are more ‘normal’ than they were a year ago…how many chickens can get in a plane engine? What is bad for GM is bad for America…just when you think you have things figured out, the facts change…and more!
The Fed goes for broke – and the rest of the country follows…there are really only two ways out of this mess… Instead of inflation, we’re getting deflation…Gideon Gono can show the Fed how to use these ‘new tools’… Some sage advice for Obama…the SEC does not fight fraud, it aids and abets it…and more!
The Feds try to reflate the world economy with $10 trillion but at what cost? As predicted in this space, the November payrolls were down a lot more than expected. Economists thought there would be 350,000 layoffs. Instead, the actual number was 200,000 more.
The Dow dropped another 338 points on Friday. How much more of this can investors take? Berkshire Hathaway fell below $100,000. And GM appeared to be heading for the junkyard.
Back among the worriers…the United States is headed toward a recession, says the IMF… A look back at a ‘great’ war…Lehman Bros. liquidate three of their funds. Someone you definitely want as your next-door neighbor…and more!
Entering a dangerous and troublesome period in financial history…the battle between the forces of inflation and deflation wages on… The Liquidation War…the coming of the Greater Depression…Cattle is no longer such a hot commodity in Argentina…what will hobble agriculture in the future?…and more!