Thu 2009-07-30 00:00 EDT

Zero Hedge: The Exuberance Glut Or The Dollar-Euro Short Squeeze Race

-- David Roche ``the securitization of debt, and creation of derivatives amounted to a huge virtual printing press, primarily fueled by a massive increase in risk appetite which allowed for a huge expansion in the value of claims on financial assets and goods and services...the Fed has little to no control over this "printing press" at this point, which at last count was responsible for over 90% of the liquidity in the system''

Dollar-Euro Short Squeeze Race; Exuberance Glut; Zero Hedge.

Thu 2009-07-30 00:00 EDT

Michael Hudson: The Toll Booth Economy

Michael Hudson: The Toll Booth Economy -- by Michael Hudson ``The Latest in Junk Economics'' What is missing is a critique of the big picture how Wall Street has financialized the public domain to inaugurate a neo-feudal tollbooth economy while privatizing the government itself, headed by the Treasury and Federal Reserve. Left untouched is the story how industrial capitalism has succumbed to an insatiable and unsustainable finance capitalism, whose newest final stage seems to be a zero-sum game of casino capitalism based on derivative swaps and kindred hedge fund gambling innovations...What have been lost are the Progressive Eras two great reforms. First, minimizing the economys free lunch of unearned income (e.g., monopolistic privilege and privatization of the public domain in contrast to ones own labor and enterprise) by taxing absentee property rent and asset-price (capital) gains, by keeping natural monopolies in the public domain, and by anti-trust regulation...A second Progressive Era aim was to steer the financial sector so as to fund capital formation. Industrial credit was best achieved in Germany and Central Europe in the decades prior to World War I. But the Allied victory led to the dominance of Anglo-American banking practice, based on loans against property or income streams already in place. Todays bank credit has become decoupled from capital formation, taking the form mainly of mortgage credit (80 per cent), and loans secured by corporate stock (for mergers, acquisitions and corporate raids) as well as for speculation. The effect is to spur asset-price inflation on credit, in ways that benefit the few at the expense of the economy at large.''

Michael Hudson; Toll Booth Economy.

Thu 2009-07-30 00:00 EDT

Zero Hedge: Guest Post: Tax Revenues Tanking

-- ``the lions share of the planned sales of Treasuries in 2009 cannot be met by demand from the market..Auctions will fail and the Fed will step in...the 2009 budget deficit is more likely to widen to levels between $2.5 and $3 trillion rather than the CBOs $1.8 trillion forecast. We also believe that inflation could start setting in as early as Q3 of 2009 and will accelerate sharply by 2010.''

Guest Post; Tax Revenues Tanking; Zero Hedge.

Fri 2009-07-24 00:00 EDT

Zero Hedge: Green Shoots Or Rose-Colored Glasses

David Rosenberg evaluates dismal employment situation

Green shoot; rose-colored glasses; Zero Hedge.

Thu 2009-07-23 00:00 EDT

naked capitalism: Guest Post: The White House Threatened To Destroy Perella Weinberg's Reputation

by Tyler Durden, publisher of Zero Hedge

Destroy Perella Weinberg's Reputation; Guest Post; naked capitalism; White House threatened.

Tue 2009-06-16 00:00 EDT

Zero Hedge: So The Treasury Was Lying After All?

lying; Treasury; Zero Hedge.

Tue 2009-06-16 00:00 EDT

Zero Hedge: Comparing Today's Vegas Back Lot To A Real Bull Market

compared; lot; real bull market; s Vegas; Zero Hedge.

Tue 2009-06-16 00:00 EDT

Zero Hedge: Jumping The Shark In HY On Record Low Recoveries

hy; jumps; Record Low Recoveries; Sharks; Zero Hedge.

Wed 2009-04-01 00:00 EDT

Zero Hedge: PIMCO Holds Almost $120 Billion In MBS

86% invested in mortgage-backed securities

120; MBS; Pimco Holdings; Zero Hedge.

Mon 2009-01-19 00:00 EST

naked capitalism: Asia-Europe Shipping Rates Drop to Zero

Asia-Europe Shipping Rates Drop; naked capitalism; zero.

Fri 2009-01-16 00:00 EST

Jesse's Café Américain: Chicago Fed Says Take Interest Rates "Below Zero" and Monetize Debt (to Devalue Dollar)

Jesse's Café Américain: Chicago Fed Says Take Interest Rates "Below Zero" and Monetize Debt (to Devalue Dollar); quantitative easing

Chicago Fed Says Take Interest Rates; devalued dollar; Jesse's Café Américain; Monetize Debt; zero.

Fri 2008-11-07 00:00 EST

Jesse's Café Américain: Credit Card Bond Sales Zero As the Credit Markets and Consumption Engines Stalls

Jesse's Café Américain: Credit Card Bond Sales Zero As the Credit Markets and Consumption Engines Stalls

Consumption Engines Stalls; Credit Card Bond Sales Zero; credit markets; Jesse's Café Américain.

Fri 2008-11-07 00:00 EST

Mish's Global Economic Trend Analysis: Banks Hoard Cash; Credit Card Bond Sales at Zero

Banks Hoard Cash; Credit Card Bond Sales; Mish's Global Economic Trend Analysis; zero.

Fri 2008-11-07 00:00 EST

Mish's Global Economic Trend Analysis: ECB Cuts .50% BOE 1.5%; Trichet Eyes More Cuts

``The impact from these central bank actions will will be close to zero...It was Keynesian foolishness that caused the housing bubble in the first place. Keynesian foolishness cannot possibly be the solution."

5; 50; BOE 1; cutting; ECB cuts; Mish's Global Economic Trend Analysis; Trichet Eyes.

Wed 2008-05-21 00:00 EDT

Angry Bear: Social Security Zero: the Basics Revisited & Three Myths

Angry Bear: Social Security Zero: the Basics Revisited & Three Myths

Angry Bear; Basics Revisited; myth; Social Security Zero.

Fri 2007-11-30 00:00 EST

Sudden Debt: CDS: Phantom Menace

CDS notional amounts increased from 26 to 46 trillion in last year; "far more CDSs are written relative to the amounts outstanding in individual bonds and thus credit events will infect and destroy much more speculative capital"; "generate highly volatile equity exposure with minimal or even zero margin requirements"

CDS; Phantom Menace; Sudden Debt.