Economic Insanity Archives
03 January 2011 Facing Threat From WikiLeaks, Bank of America Plays Defense (Yahoo Finance); TrimTabs: "No Amount Of QE Will Be Able To Keep The Current Stock Market Bubble From Bursting" (Zero Hedge); Guest Post: 2011 - The Year Of Catch 22 (Zero Hedge); The Scramble By Bank Of America To Negate Wikileaks Upcoming "Ecosystem Of Corruption" Disclosure (Zero Hedge); Tim Mayopoulos' Revenge #1: BofA Takes $2 Billion Q4 Charge For GSE Repurchase Obligations (Zero Hedge); Cartoon: How The American Dream Purchased On Credit Became The American Nightmare (Zero Hedge)
05 January 2011 Fraudclosure Settlement Imminent (Zero Hedge); Are German Banks Next To Seek Putback Claims From Bank Of America(Zero Hedge); Former China Central Bank Advisor Repeats Call To Cut US Treasurys (Zero Hedge); Rosenberg Goes On Offensive, Mocks Birinyi, Tells Koolaid Guzzlers To "Put It In Their Pipe And Smoke It" (Zero Hedge); Following Gibbs, Volcker To Depart Titanic Next (Zero Hedge); More Bad News For States: State Revenue Plunges By 31% In 2009 To $1.1 Trillion As Spending Increases (Zero Hedge); PIMCO On The Robosigning Scandal And Its Consequences(Zero Hedge); Big Media Finally On The Case Of The Amazing "Value Deflation" Inflation (Zero Hedge); Pension Fund Losses Hit States Hard (Zero Hedge)
06 January 2011 China In Diplomatic Gaffe, Backtracks After Leaked Report Discloses Country Ready To Use Preemptive Nukes (Zero Hedge); High-paid UC executives denied retirement benefits increase by UC Regents (Daily Bruin); Foreclosures May Be Undone by State Ruling on Mortgage TransferBloomberg( Zero Hedge); JP Morgan Markets Its Latest Doomsday Machine (or Why Repo May Blow Up the Financial System Again) (Naked Capitalism); How The Commerce Department Pulled $46.3 Billion In Personal Income Out Of Thin Air To Prevent The Double Dip (Zero Hedge); Mike Krieger Explains How To Short Corruption In 2011 (Zero Hedge); Gallup Finds Unemployment Increased In December, Underemployment Is At 6 Month High, Blasts Government Data Fudging (Zero Hedge); As ACA Sues Goldman Over Abacus, A Question Emerges: Did The SEC Hide A Damning Piece Of The Prosection Against Goldman? (Zero Hedge); Guest Post: A Brief History Of Silver Manipulation (Zero Hedge); Ron Paul: "The U.S. Government Must Admit It Is Bankrupt" (Zero Hedge); Printing a Recovery (Zero Hedge)
07 January 2011 NFP Prints At 103,000 On Expectations Of 150,000 Unemployment At 9.4%, Private Payrolls +113K On Expectations Of +178K, Hourly Earnings Up 0.1% (Zero Hedge); Obama Appoints Ultimate Wall Street Insiders to Top Posts . . . Again (Zero Hedge); Labor Force Participation Rate Drops To Fresh 25 Year Low, Adjusted Unemployment Rate At 11.7% (Zero Hedge); Some Very Bad News For The "Sweep Fraudclosure Under The Rug" Brigade (Zero Hedge); Primary Dealers Scramble To Sell All Recently Auctioned Off Treasurys To Fed (Zero Hedge); Guest Post: No Wonder We're Failing: Our Power Elites' Sole Expertise Is Being Privileged (Zero Hedge); Cartoon: Da Bears Talk China Currency Manipulation (Zero Hedge)
08 January 2011 DOJ Secretly Subpoenas Private Twitter Information On Suspected WikiLeaks Associates (Zero Hedge); Guest Post: The United States Of Organized Financial Crime - "If the Fraud Stops, The Financial System Collapses" (Zero Hedge); Arizona Rep. Giffords shot, several wounded (Yahoo); Congresswoman Gabby Giffords Shot "Point Blank In The Head" At Town Hall Event In Tucson (Zero Hedge); Take This Jobs Report and Shove It (Zero Hedge)
09 January 2011 On The Four Year Anniversary Of The Paulson-ACA Meeting That Conceived Abacus (Zero Hedge); Biggest US Pension Funds Get Into Fraudclosure Fray, Demand Banks "Immediately Examine Foreclosure Practices" (Zero Hedge); The Silver Bears Are Back For Round Three, Explaining Two Key Recent Developments In The World Of Silver (Zero Hedge); Newt Gingrich Pushing Bill To Allow States To File Bankruptcy Allowing Them To Renege On Pension And Benefit Obligations (Zero Hedge); Simon Black's Take On This Weekend's Shooting, And What It May Mean For America's Future (Zero Hedge); India Offers To Pay For Iran Oil With Gold (Zero Hedge); Bernanke/Senate to States: Buzz Off! - Or Not? (Zero Hedge); Judge Sides With GATA, Orders Fed To Present Her With Its Classified Gold Records For Private Review (Zero Hedge);
No Federal Preemption by a Trustee of a Mortgage Backed Security Trust from Senior Counsel of the Office of the Comptroller of the Currency (Zero Hedge); Less Than 24 Hours After My Warning Of Extensive Legal Risk In The Banking Industry, The Massachusetts Supreme Court Drops THE BOMB (Zero Hedge); Virginia Creates Subcommittee To Study Monetary Alternatives In Case Of Terminal Fed "Breakdown", Considers Gold As Option (Zero Hedge);
Florida Pension Fund Broke? (Zero Hedge)
11 January 2011 Guest Post: The Mechanics Of Hyperinflation: Bankers vs. Politicos (Zero Hedge); UBS Sees Silver Hitting $35 On "Physical Interest In The Metal" (Zero Hedge); Is The Criminal Case Against Goldman About To be Reopened, As Robert Khuzami's "Ethical" Reputation Lies In Ruins (Zero Hedge); Guest Post: Gold, The Improbable Answer To Life, The Universe, And Everything (Zero Hedge)
12 January 2011 Guest Post: The Giffords Shooting Changes Nothing (Zero Hedge); Home price drops exceed Great Depression: Zillow (Reuters); World's ATMs Pump Billions Into Wrong Places: William Pesek (Bloomberg); Rethinking the Public-Pension Punching Bag (Business Week); 71% Oppose Raising Debt Ceiling As Congress Prepares To Ignore Supermajority's Wishes Again (Zero Hedge); India Gold Imports Hit Record As "Price Is No Longer A Factor" (Zero Hedge); More Clues Of China's Real Estate Bubble: Ghost Malls (Zero Hedge); Tunisia Rioting Escalates, Hits Capital As More Are Killed While Protesting Surging Unemployment And Food Prices (Zero Hedge); 71% Oppose Raising Debt Ceiling As Congress Prepares To Ignore Supermajority's Wishes Again (Zero Hedge); India Gold Imports Hit Record As "Price Is No Longer A Factor" (Zero Hedge); More Clues Of China's Real Estate Bubble: Ghost Malls (Zero Hedge); Tunisia Rioting Escalates, Hits Capital As More Are Killed While Protesting Surging Unemployment And Food Prices (Zero Hedge); Fraudclosure | Full Deposition of Patricia Arango of Marshall C Watson (Zero Hedge); Food Price Shock Cometh (Zero Hedge)
13 January 2011 Banks repossess 1 million homes in 2010 (Yahoo); 2011 to top 2010 record of 1 million foreclosures (Yahoo); December Foreclosure Filings Slump By Biggest Annual Amount In History As Fraudclosure Clampdown Persists (Zero Hedge); Is China's European Rescue Just A Big "Bait And Switch"? (Zero Hedge); Initial Claims Surge To 445K, On Expectations Of 410K, Not Adjusted Claims Surge By 191,686 To 770,413 In One Week (Zero Hedge); S&P Melt Up Price Momentum: A Once In Never Event (Zero Hedge); Guest Post: Don't Worry - They'll Just Change The Rules (Zero Hedge); Mike Krieger Deconstructs Commodity Inflation: "You Ain't Seen Nothing Yet" (Zero Hedge); Illinois Seeks To Issue $8.75 Billion Bond To Pay Overdue Bills As Muni Issuance Market On Verge Of Shutdown (Zero Hedge); Guest Post: The 10 Things That Would Be Different If The Federal Reserve Had Never Been Created (Zero Hedge)
14 January 2011 JPM Mortgage Repurchase And Foreclosure Process Update: 14 Month Average Delinquency At Foreclosure (Zero Hedge); Latest Inflation Riot Tally: Algeria, Tunisia, Morocco, Yemen And Jordan (Zero Hedge); Vincent McCrudden Certainly Not A Fan Of "F#&$*%@ Corrupt Piece Of Goldman Sachs S#*t" Gary Gensler (Zero Hedge); Inflation Wins As Tunisian President Ben Ali Flees Country (Zero Hedge); Guest Post: The Fed, Housing and Stocks: The Chimera of Middle Class Assets (Zero Hedge); Guest Post: JP Morgan Wins: CFTC Position Limits Do Not Apply (To Them) (Zero Hedge); BullionVault.com Runs Out Of Silver In Germany (Zero Hedge)
16 January 2011 Guest Post: Pimp My Conspiracy Theory (Zero Hedge); Guest Post: Fed's Sense Of Humor, Amazing Foresight, And Inflation Risk (Zero Hedge); On The Fed's "Stunning" Finding Of Gold As An Inflation Predictor And The Subsequent Cover Up [Laughter] (Zero Hedge); Guest Post: How Many Senators Does It Take To Screw A Taxpayer? (Zero Hedge); Julius Baer Whistleblower To Expose 2,000 High Net Worth Tax Evaders To The World (Zero Hedge); Accelerating Deposit Flight In Ireland Forces Irish Central Bank To Print Money Independent Of ECB (Zero Hedge); In Justifying Hedge Fund Groupthink, Goldman Butchers The Greeks (Again) (Zero Hedge); How The $1.4 Trillion In Bank "Phantom Income" Is Really An $84 Billion (0.5% Of GDP) Consumer "Phantom Stimulus" (Zero Hedge); Deleveraging For Dummies: Cravens Brothers' Observations And Outlook For An Uncertain Age (Zero Hedge); Guest Post: Law And The State (Zero Hedge); Guest Post: Strong Indications of Gold & Silver Shortages (Zero Hedge); Chris Martenson Interviews Marc Faber - Fed Bashing Ensues (Zero Hedge)
18 January 2011 Spain Cancels Market Auction, As It, Portugal And Belgium Go Syndicate, Spook Bond Investors (Again) (Zero Hedge); Fed President Charles Plosser Says Fed Is Helpless To Reverse Sharp Decline in House Prices (Zero Hedge); Albert Edwards: "I Have Been Wrong - I've Been Too Bullish" (Zero Hedge); Guest Post: Is The Iron Fist Control Of China's Central Government Coming Unhinged? (Zero Hedge); Meet America's 25 Richest Politicians (Zero Hedge); Guest Post: Disinformation Fog Intensifies As Economic Turmoil Develops (Zero Hedge); JPM's Mortgage Unit Sued To Disclose Loan Quality Data, Following Allegations It Misrepresented Over 70% Of Loan Portfolio (Zero Hedge); Guest Post: Tossing The Consumer Under The Bus . . . And Insanely Expecting An Economic Recovery (Zero Hedge)
19 January 2011 Germany's Big Fat Greek Debt Restructuring Plan . . . Lie? (Zero Hedge); Wells Fargo Misses Estimates as Home Lending Weakens (Bloomberg); Guest Post: How To Fix Social Security: A 4-Point Plan That Faces The Brutal Realities (Zero Hedge); Spain To Bail Out Cajas, More Billions In Taxpayer-Funded Risk Transfer (Zero Hedge); Harbinger Of Muni Bloodbath: Vallejo Offers Unsecured Creditors 5 - 20 Cent Recovery (Zero Hedge)
20 January 2011 "Creative Accounting" Makes Fed Insolvency Impossible (Zero Hedge); John Taylor: The Fed's Rightful Chairman (Zero Hedge); Inflationary Guerilla Tactics Resume As Comex, Nymex Hike Margins On Gold, Silver, Cracks, Spreads And Other Products (Zero Hedge); NYT Reports States Looking For Ways To File Bankruptcy, Muni Bondholders To Be GMed (Zero Hedge)
21 January 2011 MERS CEO R.K. Arnold Leaving Company (Zero Hedge); Hugh Hendry On The "Near Certainty" Of European Interest Rate Rises (Zero Hedge); China Fires the Warning Shot on US Debt (Zero Hedge)
25 January 2011 Robert Murphy's Retort To Paul Krugman On Austrian Business-Cycle Theory (Zero Hedge); Russia Imposes Inflation-Driven Price Controls: Will Use Price Caps On "Socially Important" Commodities (Zero Hedge); Rioting Breaks Out In Egypt (Zero Hedge); Indian Average inflation during 2010-11 to jump up to 9 per cent: Finance Ministry (The Economic Times); Underfunded Illinois Pension Fund Under Investigation By The SEC For Accounting Fraud (Zero Hedge); JP Morgan Sold Investors MBS Covered By REALLY BAD Loans... Then Shorted All Those With Exposure: A Goldman-AIG Redux (Zero Hedge); Guest Post: Inflation Is So Much Worse Than We're Told (Zero Hedge); Illinois Supreme Court Halts Rahmless Ballot (Zero Hedge); Xtranormal Cartoon Explains POMO (Zero Hedge); Guest Post: Dirty Little Secrets About Goldman's Collateral Calls on AIG (Zero Hedge); It's (Semi) Official: Egyptian President's Son And Family Have Fled To The UK (Zero Hedge); Marc Faber's Most Provocative Interview Ever: Observations on Obama, Goes Long Treasurys (Zero Hedge); Merrill paying $10M to settle SEC fraud charges (Yahoo); Second wave of housing bust hammers more cities (Yahoo)
26 January 2011 Financial Crisis Was Avoidable, Inquiry Finds (New York Times via Yahoo); Chris Whalen On The Zombie IPO: Is American International Group the "Blood Doll" of Wall Street? (Zero Hedge); Greece Default With Ireland Breaks Euro by 2016 in Global Poll (Bloomberg); As FASB guts Mark-To-Market, Former FDIC Chairman Gloats (Zero Hedge); Wage Inflation Rampant In China As More Provinces Plan Minimum Salary Hikes (Zero Hedge); Boxer introduces bill to lower barriers to refinance (Housing Wire); Small Gold Trader Makes Big Splash (Yahoo)
28 January 2011 As Consumer Confidence Surges In The US, It Plummets By Largest Amount In 19 Years In UK (Zero Hedge); Moody's Says Time Shortens for U.S. Rating Outlook as S&P Downgrades Japan (Bloomberg); Internet in Egypt offline (BGP Mon); Portuguese, Spanish Bonds Back To All Time High Yields (Zero Hedge); Europe Considering Extending Greek, Irish Bailout Loan Duration From 3 To 30 Years (Zero Hedge); Has Joe Cassano Committed Perjury: AIG Took Subordinated Pieces Of CDOs It Insured (Zero Hedge); Substantial Future Home Price Declines Predicted By Goldman Sachs And Peak Theories (Zero Hedge);
Guest Post: The Big Squeeze, Part 2: Abused Fundamentals And Fake Markets: How They Play Out (Zero Hedge); Jim Grant: "The Fed Is Now In The Business Of Manipulating The Stock Market . . . Should Confess It Has Sinned Grievously" (Zero Hedge)
30 January 2011 Tracking The Gold "Conspiracy" - GATA's Must Read Presentation To The Cheviot Asset Management Sound Money Conference (Zero Hedge); Step Aside The Bernank Here Comes Timothy Jeethner: The Bears Explain Banker Bailouts And The Screwing Of The American People (Zero Hedge); Presenting The US State Department Propaganda Filter on Egypt (Zero Hedge); The Financial Crisis "Round Two" Survival Guide (Zero Hedge); Florida House Representative George R. Moraitis, Jr. Values Your Input on Expedited Foreclosures and Goals for the Judicial System (Zero Hedge)
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