Let’s suppose a group of investors put a lot of money on Tea Party representatives and they have enough influence that they can pressure them to hold out against raising the debt ceiling for a few days. Let’s suppose the line of communication is good enough that they can virtually guarantee a hold out for a specified period.Now let’s suppose at the same time they are doing this they are shorting the stock market for profits. It really wouldn’t be that hard if all they needed to do was keep a group of about 25 representatives from the House in line. Following this logic they could also plan for the day this small band of Tea Party representatives decide to vote the bill through. They...
Funny how even Google Finance has bugs in their software. You can see a screenshot today where they show the S&P 500 has dropped by 100%. I think we would be in BIG trouble if that were the case. It just shows how a software glitch could reak havoc on our financial system. Here is the screenshot for June 22, 2o11. ...
We are often reminded that the definition of insanity is to continue to do the same thing and yet expect a different result. However, is that not what some are suggesting is possible with their ardent opposition to any cuts to Social Security? Several groups are up in arms following a report in the Wall Street Journal that the leading advocate for senior citizens, American Association for Retired People (AARP) is appearing to signal a willingness to support limited cut in Social Security benefits. Naturally within the first few hours cries of shock and dismay went forth accusing the powerful organization of relinquishing leverage too early in the negotiation game. However, reportedly the proactive step was taken to discourage the idea of putting social security...
Former Representative Anthony Weiner formally resigned this week after a somewhat troubling picture of his “package” surfaced online and leaders of both political parties calling for his resignation. Now a special election will be held to replace one of the rising stars in the Democratic caucus. I don’t think this is how it should have been. While I most certainly do not condone his actions, I also feel as though it does not detract from the job he has nor will do as a Representative in the United States Congress. Just look at former President Clinton after the Monica Lewinsky scandal. He continued on in office and could be argued one of the better Presidents of the 20th Century. Could Weiner have done the same?...
Oh the political sex scandal. It seems that American politics is rife with political sex scandals. Most recently Rep. Anthony Weiner (pronounced why-nar, not what you might think) sent photos of his “package” to a girl in Washington State. Prior to his indiscretions, we were filled with news about Governor Arnold Schwarzenegger and his long term affair and secret child, under his wife’s nose, with the family’s housekeeper. There was Eliot Spitzer who rendezvoused with a $1,000 AN HOUR call girl. John Edwards who cheated on his dying wife and former New Jersey Governory McGreevey, who announced he had an adulterous affair with a man on his staff. And of course, one of the more famous, President Bill Clinton. Now, some might ask, “What is...
In a mad frenzy, reports stormed the front steps of the Alaska State Capitol today to be in line for what was a similar frenzy to the release of the iPad or iPhone, but nothing quite so exciting. What did they gather for, well, Sarah Palin’s emails while she was Governor of the state of Alaska. 24,000 emails were provided to reporters and whomever else wanted them in response to a Freedom of Information Request someone filed requesting access to these files. In a somewhat odd and most anti-environmental move, the State of Alaska provided these emails, but in paper form. This author has perused some of the emails to try and determine what in the world we would want Sarah Palin’s emails from her...
Unless you’ve been living under a rock, you know full well that the 2012 Presidential campaign is in full swing. Who of the nine GOP candidates is going to gain enough support from the GOP and those tricky undecided voters to knock Obama out of the White House. The Republican field is full of candidates who span the ideology of the GOP. From Andy Martin, whom is a Birther, to the more “centrist” Mitt Romney. The central tenet of the GOP is that America is, well, not America. Just some of the Campaign themes: Mitt Romney just wants you to Believe In America. That’s not so hard is it? Herman “Let’s get Real” Cain apparently feels that we’re living in a “fake” America. Interesting.Rick Santorum...
Here is one of the best descriptions I have heard to date both of the European crisis, and of housing crisis in the United States. Very much move toward privatization, deflation, and government debt have a lot in common in which we have financial institutions placing a drain on the efficiency of the system as a whole. I would highly recommend you read this a couple of times, as it will surely improve your understanding of some of the finer points of the World finanical crisis. You can also view it here as well as learn how to subscribe to the newsletter which I highly recommend. The Greek bailout provides an opportunity for privatization grab When Greece exchanged its drachma for the euro in 2000, most voters...
While we all know by now how volatile our banking system can become, I’m not so sure people really understand some of the core ingredients that make up the system. Until people collectively can start to understand how it works, it is difficult for anyone to agree on the fixes that are needed, and of course much easier to manipulate public opinion due the lack of knowledge of the public. I discovered a wonderful website after reading the latest issue of Bloomberg Business. A man named Salman Khan. He had an MBA from Harvard, but his “passion†was with math. He discovered when he started helping his daughter with her math lessons though Yahoo Messanger. Before long he was helping her friends too. Then he...
In the last couple of years there has been rising political and economic pressure to trim government spending. As we look at the May jobs report released by the St Louis Fed today, we can that government is submitting to the pressure and cutting jobs.It is important to keep in mind as we seek to cut costs in government that the cost of employing people in government is among the most expensive. So as we talk about cutting government spending, it is important to realize that we are also talking about cutting government jobs. The graph below covers just local government but not Federal which is now beginning cuts.As you look at the graph, it is at first obvious that government spending on employment has...