Prudent Bear Ailing Banks May Require More Aid to Keep Solvent Euro-Area Economy Shrinks Most Since 1995 as Recession Deepens Treasuries Fall, Paring Weekly Gain, as Stocks Gain on Home Aid Stocks point to mixed open ahead of G-7 meeting Stocks in Europe, Asia Climb; Barclays, ING, ThyssenKrupp Gain Crude Oil Rises From Seven-Week Low After U.S. Equities Recover Gold Declines, Pares Weekly Gains, as Chinese Arbitragers Sell "This is worse than the S&L crisis. This is the first time - this is the worst credit bubble we've ever had in American history. No - ever in American history have people been able to buy a house with no money down, never. That's never happened anytime in the world. So, we have the worst credit bubble. It's going to take a long time to work its way out. You don't cure a bubble in five or six months... It takes five or six years." Jim Rogers, November 6, 2007 (Bloomberg interview with Kathleen Hays) by Doug Noland | Feb 6 It was quite a week for stocks. Is the marketplace beginning to anticipate the next Bubble? by Martin Hutchinson | Feb 9 The Zombification of Wall Street For free market enthusiasts, the Obama administration’s $500,000 remuneration limit for banks receiving public bailouts is less obnoxious than it seems at first. by Satyajit Das | Jan 23 As the “financial’’ crisis moved into the “real” economy at the end of 2008, the incomprehensible discourse about arcane minutiae of securitized debt and derivatives (toxic three letter acronyms such as ABS, CDO, MBS, SIV; CDS etc,) that no sane person really understood, could be abandoned for the more familiar language of “recessions” and “depressions.” Familiarity, no matter how terrible, is comforting. by Richard Benson | Feb 9 Every time I pick up a copy of the prestigious financial press, I can't help but read articles pushing Keynes theories. Writers point or wag a finger at the lack of liquidity and the fact that America is in a Keynesian-feared “Liquidity Trap.”Market Movers
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Friday, 13 February 2009
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