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UK Treasury Sale Fail: Nobody To Buy The Debt March 25, 2009

Posted by aetiusromulous in Economics, news, politics, Video, YouTube.
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Obama Stimulus Plan Crashes Into Reality

The only way to put money into the system – QE, “Quantitative Easing” – is to sell debt for cash. The UK appears to be the only large industrial nation willing to support that route, however it has failed today to realize on the action as it’s treasury auction failed to attract interest.

The Obama plan depends on the worlds sovereign funds and investors to buy it’s treasuries, and this is the first stark sign that it may not go as planned.

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AIG : In Defence of Fallen Heroes March 24, 2009

Posted by aetiusromulous in news, politics, Video, YouTube.
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Americans Fiddle, While America Burns.

Here’s the thing.

The American financial system has been doing this sort of thing since its inception. There were a few collapses along its 125-year history, and once in a while regulation was imposed as a reaction to events. Once the crisis receded from memory, regulation was relaxed and off it all went again. De-regulation is the status quo, the natural state of the Wall Street mojo. Regulation free cowboy finance built America…for whatever that is worth.


While the big guns of Wall Street were shooting up the corral, the lifestyle of the average American rose in their wake. Financial shenanigans fuelled the great consumer society. Absolutely no homeowner in America was calling for anybodies head when the value of their own main asset was riding the wave along with them. These guys were heroes and it is with no small irony these “contracts” were signed back in those, good old days.

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Financial Collapse Ignores “Talking Heads” March 23, 2009

Posted by aetiusromulous in Economics, news, politics, Video, YouTube.
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“For Effective Incantation Knowledge is Neither Necessary nor Assumed”

“On Sunday ( October 27, 1929) there were sermons suggesting that a certain measure of divine retribution had been visited on the Republic and that it had not been entirely unmerited. People  had lost sight of spiritual values in their single minded pursuit of riches. Now they had their lesson.   

 “Almost everyone believed that the heavenly knuckle rapping was over and that speculation could again resume in earnest. The papers were full of prospects for next week’s market.

 “…In a concerted advertising campaign in Mondays papers, stock market firms urged the wisdom of picking up these bargains promptly. “We believe” said one house, ” that the investor who purchases securities at this time with the discrimination that is always a condition of prudent investing, may do so with utmost confidence”.

The Great Crash,1929 – John Kenneth Galbraith

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AIG Debacle : Mistrust and Anger Derail Hope of Salvation March 22, 2009

Posted by aetiusromulous in Economics, news, politics, Video, YouTube.
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America Fiddles While Rome Burns

Underneath the thin vernier of populism, banking system melts away.

Careful what you wish for….

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AIG CEO Edward Liddy : An American Hero March 18, 2009

Posted by aetiusromulous in Economics, news, politics, Video, YouTube.
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Really ! He Is, Honestly

It may not be a WWII battle field, but the economic catastrophe that is AIG will certainly yield similar results.

Edward Liddy accepted the Generalship of the mess without any kind of pay or compensation, and after the bad guys had breached the walls. Patton he is not, but he deserves the same respect. And he deserves to be listened too.

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Central Banks Dither in Confusion and Fear March 17, 2009

Posted by aetiusromulous in Economics, news, politics, Video, YouTube.
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Fractured International Finance System Its Own Worst Enemy

Poor coordination, political agendas, virtually no idea about what to do.

“Raging debates” amongst economists torpedo action while everybody races to the bow of the the listing ship of capitalism.

Titanic confusion?

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Canadian Banks: Meltdown Immune March 17, 2009

Posted by aetiusromulous in Economics, news, politics, Video, YouTube.
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Frozen Socialists Stringent Regulation to Blame

Profitable and growing their asset bases, Canada’s top banks are becoming stronger, bigger, and a better financial pick than ever before.

Canadian regulations forbid Canadian banks from participating in the “creative”  lunacy south of the border.

It’s good to be Canadian.

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Mark to Market Explained : Accountants 15 Minutes of Fame March 12, 2009

Posted by aetiusromulous in Economics, news, politics, Video, YouTube.
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When is a Duck not a Duck?

So let’s say you bought something, like a house. What’s it worth? The house is worth what somebody else is willing to pay you for it. Not that much anymore, but it is easy to fix the value of the house because there is an active market of millions of house buyers and sellers pretty much all working the same system. It’s a good, well used, reasonably accurate system for fixing the value of the house.

Now however, you buy something really stupid – like thin air. Thin air called mortgage backed derivatives. What are they worth? Same thing, whatever another idiot is willing to pay you for them. Except, not too many people understand the damn things, and there is no regulated, fair and open market on which to trade them, and it requires millions and millions of dollars to simply get in the game. And finally, because they have absolutely no value to anybody in a collapsing real estate market – let alone billionaires, banks, and massive financial institutions – your mortgage backed derivatives are worth exactly what people will pay you for toxic waste…nothing. Zilch. Zero. Nadda.

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Geithner to Charlie Rose : A Hard Rain is Gonna Fall March 11, 2009

Posted by aetiusromulous in news, politics, Video, YouTube.
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The Old America Is Gone Forever

In the end, it all comes down to the fact that righteous faith in the American Way, and the biblical belief in economic expansion and hegemony, are no match for the fundamental laws of nature. Blind patriotism could not see or understand the frailty of the system and once it came undone, there was nothing in place to stop it.

US Treasury Secretary Timothy Geithner does nothing more in this interview with Charlie Rose than state the obvious. The obvious being of course that the world has changed forever, and there will be no returning to that dreamy world that caused the collapse by virtue of nothing else than its own impossibility.

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The new world is developing, and developing right before our eyes.

I suspect we are all in for one hell of a ride.

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Make Money On Social Collapse ! March 10, 2009

Posted by aetiusromulous in Economics, news, politics, Video, YouTube.
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Capitalism Bullish On Food Riots

Sell civilization short.

Let ’em eat cake.

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