In 1995, $1.3 billion was enough to bring down Barings Bank, the oldest merchant bank in London, amidst warnings that unless something was done the global financial system would be brought to its knees. In 1998, Long Term Capital Management required a $3.6 billion bailout from 14 financial institutions after losing $4.6 billion in less […]
How Did The Crisis Happen?
We attempt to analyze and explain how and why we find ourselves in the greatest financial crisis since the Great Depression
The chart below from John Hussman tells a story. Do you think the fiscal and monetary policies implemented by Bernanke and Obama since 2008 were designed to benefit you? Do you think scrapping mark to market accounting rules was supposed to help you? Do you think paying Wall Street banks .25% on their deposits at […]
This story is a little out of character for our blog, but I found this article very interesting. The jobs of factory and office workers have been under assault for years. Factory robotics have displaced millions of workers worldwide. What’s interesting about this development is that now robotics, automation, jeopardizes the incomes of a highly […]
While it is easy and often enjoyable to distract oneself with daily drudgery such as who will bomb whom (if not so enjoyable for those on the receiving end of said bombs), the key word in the sentence is just one: “distract” and as Kyle Bass pointed out correctly, the best, and most “economy-boosting” of […]