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Yes, really.
Off the wire this morning:
FDIC Deposit fund had negative $8.2B balance in Q3
That's broke. Bankrupt. Kaput. Gone. Poof. Dead. Rotting. A corpse.
Yes, yes, I know, Treasury has their back. But let's not forget - The FDIC does not have a legal ...
Government
FDIC
GDP 3Q 2009 "Second Estimate" is out and it is 2.8%.
But let's remember - it was 3.5% on the "preliminary" report.
That's a 20% decline.
Was that an error, or was that an intentional overstatement to pump the markets and "confidence" in the original ...
Other
Gross Domestic Product
The WSJ is starting to "get it" when it comes to housing:
Nearly 10.7 million households had negative equity in their homes in the third quarter, according to First American CoreLogic, a real-estate information company based in Santa Ana, Calif.
....
Home prices have ...
Government
Housing Market
Here are your possibilities:
The BEA is lying . In the third quarter they claim that PCE changed +0.2, +1.4, and -0.6% for July, August and September, respectively, leading to an aggregate change of +1.2%.
Business that remit sales tax are lying . The overall sales tax ...
Other
Personal Finance
Gee, what are they trying to hide?
As I have repeatedly shown there was has been a "one click" P/E available for the S&P 500 - from S&P - basically forever.
Here's one (recent) example.
Well that's no longer "easily findable."
Indeed, now you ...
Other
If you remember my consistent position since this mess began in early 2007 has been that the banks have roughly $3-3.5 trillion in losses in residential real estate.
The IMF now says that half of those losses remain unrealized and intentionally hidden:
“It is our view we are ...
Government
International Monetary Fund
Ed: I'd like to observe that not all that long ago, I went after Warren and got a rather stern "rebuke" of sorts from Janet, who engaged with me (via email) in a quite-spirited defense of Mr. Buffett.
My, how the worm turns.... welcome to the conclusion I reached months ...
Stocks
I am often accused of being a "Permabear" or "Doomer."
Nothing is further from the truth.
I simply call things as I see them. I did so with Musings before The Market Ticker began publication, I did so back in the 1990s when I ran MCSNet, and I still do.
...
Government
Ok, having spent some time sifting through the files referenced in my original Ticker on this subject , I have some additional observations.
Please note - in my "past life" I ran an ISP, and am a qualified expert in these matters. I write spam filtering software ...
Stocks
Global Downturn
The kitty is having a good day today....
LONDON (MarketWatch) -- The Intercontinental Exchange is probing trades in U.S. dollar index futures that briefly showed a massive 9% jump on Friday morning.
.....
The move briefly had an impact on other markets, as futures on the Dow ...
Stocks
Dow Jones & Company
David Dollar
Be very cautious of any thesis you have on continued advancement of the market based on "dollar depreciation."
This is the correlation chart from today thus far:
This may be a one-day anomaly. But it is the most-serious break of the correlation that has been ...
Other
Apparently a "Global Climate Center" was hacked and the contents have been posted to the Internet. A ZIP file exceeding 60MB and containing a huge number of emails and other documents has been posted worldwide.
Original speculation as to whether the files posted were ...
Government
Global Downturn
It really doesn't get much more damning than this.
Specifically, read starting at Page 20 of the PDF (Page 14 of the document) in which the profile of these "loans" is outlined:
More than half are cash-out refinances.
The AVERAGE FICO is 626. Nearly 1/3rd have a ...
Stocks
It's about damn time.
Yes, it's a first step - but an important first step, and it happened yesterday. Here's what Representative Grayson said at the time of debate:
Bloomberg wasted no time giving the "loyal opposition" to transparency all the digital ink they ...
Government
Federal Reserve
This one is definitely worth a read folks.
It appears that Representative Cummings, along with a half-dozen other Representatives, have had enough of The Fed's games.
They are now calling for a FULL CONGRESSIONAL REVIEW of THE ENTIRE FEDERAL RESERVE SYSTEM, including A FULL PUBLIC ...
Government
Federal Reserve
Gartner
An amendment offered by Representative Speier to the FSIA bill currently under markup:
Page 28, after line 8, insert the following new paragraph:
1 (4) LEVERAGE LIMITATION.—The Board shall require each identified holding company to maintain a debt to equity ratio of no more ...
Other
Jerry Brown is crowing about the most-recent "Auction Rate" security settlement:
"Wells Fargo convinced thousands of investors to purchase auction-rate securities with promises of robust returns and liquidity, but when the market collapsed, investors were left out ...
Stocks
Wells Fargo
From The Hill....
Rep. Peter DeFazio (D-Ore.) said Wednesday that he and other liberal House members are becoming increasingly tired of Obama administration economic policies that they say are too focused on maintaining the stability of Wall Street firms and largely ignore ...
Government
Timothy Geithner
America used to mistreat her land and water like this.
This sort of thing, by the way, is how you manage to produce things with a wage of $1 or $2/day and undercut first-world producers.
When we have "free trade" with China, this is what we are supporting. This is what ...
