naked capitalism Sun 2010-10-10 13:23 EDT

Jim Quinn: Consumer Deleveraging = Commercial Real Estate Collapse

...Retailers expanding into an oversaturated retail market in the midst of a Depression, when anyone without rose colored glasses can see that Americans must dramatically cut back, are committing a fatal mistake. The hubris of these CEOs will lead to the destruction of their companies and the loss of millions of jobs. They will receive their fat bonuses and stock options right up until the day they are shown the door. All of the happy talk from the Wall Street Journal, CNBC and the other mainstream media about commercial real estate bottoming out is a load of bull... there is absolutely no chance that commercial real estate has bottomed. There are years of pain, writeoffs and bankruptcies to go...

Commercial Real Estate Collapse; Consumer deleveraging; Jim Quinn; naked capitalism.

zero hedge - on a long enough timeline, the survival rate for everyone drops to zero Fri 2010-10-08 19:33 EDT

Will We Have Hyperinflation In America?

I have been reading a lot lately about the coming hyperinflation in America. Among those I've read are Mr. Shadowstats John Williams, John Hussman, Jim Quinn, commentators on Zero Hedge, and Mr. Gloom Doom and Boom himself Marc Faber. My favorite philosopher, Nassim Taleb has also taken up the hyperinflation case. And I didn't forget Jim Rogers, Peter Schiff, and others...Will hyperinflation happen here? It is possible but unlikely and improbable...There are economic and political reasons why I don't think hyperinflation would occur...none of the economic or political factors required to set off hyperinflation are present. A careful analysis of theory, fact, and history leads me to conclude that inflation/stagflation is our future. It is quite a leap of fancy to say we are certain to have hyperinflation.

America; dropped; Hyperinflation; long; survival rate; Timeline; zero; Zero Hedge.

Thu 2010-09-23 09:33 EDT

Bob Rubin Just Wants to Be Cuddled

Iris Mack

[2010-04-29]...It's October 2007. I've just finished my morning jog on beautiful, sun-drenched Miami Beach and I'm getting a smoothie and a pastry at my usual place, Epicure Market. The subprime mortgage crisis is heading into full-swing mode; Jim Cramer had just done his crazy thing on TV, and you can feel the sky starting to fall all around you -- and that's a literal thing in Miami, where the cranes stopped on a lot of half-finished skyscrapers, the type where a few years back you'd hear about people flipping condos three times before the project even broke ground. (If there's ever a time that I don't regret leaving finance, it's now.) Anyway, I'm in line for the checkout, and a very familiar looking guy gets in line behind me. It's one of those situations where I'm not sure if I eyed him or he eyed me first, but I noticed him shortly when I turned to the left to swipe my debit card. He was standing right behind me in the checkout line - only a few feet away. He looked very familiar and famous, and while that's no rarity in Miami, it is when you realize it's because the guy looks like the former Treasury Secretary -- but maybe no, he's maybe not tall enough? -- and then somehow you finally just blurt out, "Hey, you look just like Bob Rubin!"...

Bob Rubin Just Wants; cuddling.

Fri 2010-06-18 10:24 EDT

The Progressive Economics Forum >> Remembering Wynne Godley

Jim Stanford

Progressive economists everywhere should say a thank you this week to Wynne Godley, who passed away May 13...His final major volume (published by Palgrave in 2007) was a tour de force of heterodox macro theory, co-written with Canada's (and the PEF's) own Marc Lavoie: Monetary Economics: An Integrated Approach to Credit, Money, Income, Production and Wealth. Like Minsky, he can say ``I told you so'' to the whole neoclassical profession - although unlike Minsky, Godley could do this while he was still alive...His work exploring the implications of basic macro identities (such as the basic but oft-ignored fact that all sector deficits in the economy have to sum to zero in equilibrium, and hence not all sectors can be paying down debt simultaneously - someone must be increasing their debt to keep the money flowing) has influenced heterodox writers of all stripes...

Progressive Economics Forum; Remembering Wynne Godley.

naked capitalism Wed 2010-04-21 12:20 EDT

Guest Post: Dodd Financial Reform Bill Is All Holes and No Cheese

George Washington

In a letter to Senate majority leader Harry Reid and minority leader Mitch McConnell, luminaries including former SEC Chief Accountant Lynn Turner, former Labor Secretary Robert Reich, hedge fund owner Jim Chanos, former Lehman Brothers Vice Chair Peter Solomon, former S&L investigator Bill Black, former Senate Banking Committee Chief Economist Rob Johnson, economists Dean Baker, Barry Eichengreen and others pointed out that Dodd's proposed financial reform legislation wouldn't have prevented the current crisis ... and won't prevent the next crisis...

cheese; Dodd Financial reform Bill; Guest Post; holes; naked capitalism.

Jesse's Café Américain Mon 2010-04-19 15:22 EDT

Jim Rickards: Possible Run on the Gold Bank, Fed Insolvent, Currency Endgames in US Debt Crisis

Jesse

...There is obviously not enough gold and silver to cover the physical demand if holders of paper certificates in unallocated accounts demand delivery, and most likely only a small fraction could be covered with the practical supply available. Cash settlement will be enforced in the majority of cases...

Currency Endgames; debt crisis; Fed Insolvent; Gold Bank; Jesse's Café Américain; Jim Rickards; possible running.

Thu 2010-01-07 20:02 EST

"2010: Giant Gathering Storm Clouds" by Jim Willie, CB, FSU Editorial 01/06/2010

...a great many extremely damaging and highly disruptive events loom like giant gathering storm clouds...

2010; CB; FSU Editorial 01/06/2010; Giant Gathering Storm Clouds; Jim Willie.

Thu 2009-07-30 00:00 EDT

Clusterfuck Nation by Jim Kunstler : Bad Collateral

-- ``the colossal superfluous cretin-cargo of consumer nonsense that we've been daydreaming in gets blown away in a hurricane of change that we were not ready to believe in''

Bad Collateral; Clusterfuck Nation; Jim Kunstler.

Fri 2009-07-24 00:00 EDT

Clusterfuck Nation by Jim Kunstler : Decoupling From Reality

Clusterfuck Nation; decoupled; Jim Kunstler; reality.

Thu 2009-07-23 00:00 EDT

Clusterfuck Nation by Jim Kunstler : The Bottom

``the bottom of this society's ability to process reality''

Bottom; Clusterfuck Nation; Jim Kunstler.

Tue 2009-06-16 00:00 EDT

Clusterfuck Nation by Jim Kunstler : Strange Days

``he global economy, which was supposed to be a permanent new add-on to the human condition, is sloughing away in big horrid gobs''

Clusterfuck Nation; Jim Kunstler; strange day.

Tue 2009-06-16 00:00 EDT

Clusterfuck Nation by Jim Kunstler : The Coming Siege of Austerity

austerity; Clusterfuck Nation; Coming Siege; Jim Kunstler.

Tue 2009-06-16 00:00 EDT

Clusterfuck Nation by Jim Kunstler : Wishes, Hopes, Fantasies

Clusterfuck Nation; fantasy; hope; Jim Kunstler; wished.

Tue 2009-04-21 00:00 EDT

Clusterfuck Nation by Jim Kunstler : Under a Fluorescent Moon

Clusterfuck Nation; Fluorescent Moon; Jim Kunstler.

Tue 2009-04-21 00:00 EDT

Clusterfuck Nation by Jim Kunstler : Note: Hope = Truth

``What it comes down to, apparently, is a leadership elite across all sectors -- politics, business, academia, media -- that is incapable of processing the truth, and then conveying it to the broad American public.''

Clusterfuck Nation; hope; Jim Kunstler; Note; truth.

Mon 2009-03-23 00:00 EDT

Clusterfuck Nation by Jim Kunstler : Full Commanding Denial

``after the AIG bonus affair, it's hard to imagine that we are not one more corporate misdeed away from a rocket-propelled-grenade, or something like that, being fired into a glass office tower somewhere -- and then the "first-broken-window" rule of social disintegration comes into play.''

Clusterfuck Nation; Full Commanding Denial; Jim Kunstler.

Sat 2008-07-19 00:00 EDT

naked capitalism: Jim Grant: "Why No Outrage?"

comments pertaining to uninsured small business deposits and potential bank runs

Jim granting; naked capitalism; Outrage.

Fri 2008-06-20 00:00 EDT

Walter Bagehot Was Wrong - June 19, 2008 - The New York Sun

Walter Bagehot Was Wrong, by James Grant - June 19, 2008 - The New York Sun; Jim Grant: structuring mortgages for central bank deposit in special liquidity facilities will result in a new cycle of currency debasement; Walter Bagehot versus Thomson Hankey on central banks, moral hazard, fairness, and ready money

2008; June 19; New York Sun; Walter Bagehot; wrong.

Thu 2008-06-19 00:00 EDT

Ron Paul and Dwight D. Eisenhower -- True Patriots by Jim Quinn

Ron Paul and Dwight D. Eisenhower - True Patriots by Jim Quinn; If as a country we continue to allow our politicians and their military industrial complex corporate sponsors to spend $700+ billion per year on weapons, to the detriment of higher education, alternative energy projects, and national infrastructure needs...as deficits accumulate, the dollar plummets, and inflation rears its ugly head, our great country will decline as other empires who overstepped their bounds declined"

Dwight D. Eisenhower; Jim Quinn; Ron Paul; true patriot.

Wed 2008-05-14 00:00 EDT

naked capitalism: Jim Hamilton Scolds Bernanke for Regulatory Neglect

calling for margin requirements on OTC derivative positions

Jim Hamilton Scolds Bernanke; naked capitalism; Regulatory Neglect.

Sat 2008-03-22 00:00 EDT

Daily Kos: State of the Nation

Mississippi Turning, by Meteor Blades (DailyKos); fighting Jim Crow; Freedom Summer recollections

Daily Kos; nation; state.

Tue 2007-08-28 00:00 EDT

naked capitalism: Jim Grant on the Subprime Crisis

naked capitalism: Jim Grant in the NYT on the Subprime Crisis; "capitalism without financial failure is not capitalism at all, but a kind of socialism for the rich"

Jim granting; naked capitalism; subprime crisis.

Sat 2007-07-14 00:00 EDT

The Foreclosing of America (Part 3): Chainsaw Jim | Campaign for America's Future

The Foreclosing of America (Part 3): Chainsaw Jim, by Rick Perlstein; CDO implosion | Campaign for America's Future

America; America s future; campaign; Chainsaw Jim; foreclose; Part 3.