After two years of constant buildup, we’ll finally learn who the next president of the United States is. I don’t know about you, but I’m sick of all the political games and ready for it to finally be over. It seems the market feels the same way, as it’s been rallying lightly on decreasing volume. [...]
Karl Denninger on why you should stop paying your mortgage:
Stop Paying Your Mortgage Today - [The Market Ticker]
I love the subversiveness of this. Of course, just as Karl insists, you should only consider this if you have a “no-recourse” mortgage and can take a hit to your credit score, but it’s a great F-U to [...]
Karl Denninger has a great post on the fraud being presented as a bailout or “rescue package” and the level of corruption involved:
The Fraudacity Of American Finance - [The Market Ticker]
Some points:
Banks are not going to use the government-injected money to lend out. They are going to hoard it to “improve their capital ratios.”
Executive compensation [...]
From the Financial Times:
Beware an October surprise from bin Laden
By Joseph Nye
Published: October 15 2008 19:31 | Last updated: October 15 2008 19:31
Americans are transfixed by the aftermath of the September surprise in financial markets. Could there be a very different surprise coming in October?
The public thinks Democrats do better on economic issues, and the [...]
David Brooks at the NY Times discusses how the Republican party has aliented and pushed away the “intellectual” or “educated” crowd in favor of the “average Joe Sixpack” in the non-coastal states. Just take a look at the current electoral map to see how true this has become. Being in the “educated” class and living [...]
Mr. Roubini revisits his thesis “The Risk of a Systemic Financial Meltdown: The 12 Steps to Financial Disaster” and explains how all 12 steps have come to fruition. When reading this, I’m struck by something else Mr. Roubini has mentioned numerous times: why has the political and financial leadership not called in economic experts (i.e. [...]
So let’s start things off with everyone’s favortite debate-generating topic: politics! Election season is in full swing, and the mainstream media is full of worthless stories detailing the bickering between the two campaigns and the two parties. The buzzword for this election is change, but I don’t see very much of that in the campaigns [...]
