On Monday, the Guardian reproduced a Wikileaks cable dated March 17, 2008, stating:SUBJECT: BANKING CRISIS NOW ONE OF SOLVENCY NOT LIQUIDITY SAYS BANK OF ENGLAND GOVERNOR***Since last summer, the nature of the crisis in financial markets has changed. T…
Posts Tagged ‘nouriel roubini’
Head of Bank of England Said In March 2008 That We Have a SOLVENCY – Not a Liquidity – Crisis
December 15th, 2010 |
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Failing to Prosecute Wall Street Fraud Is Extending Our Economic Problems
December 13th, 2010 |
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Bill Gross, Nouriel Roubini, Laurence Kotlikoff, Steve Keen, Michel Chossudovsky and the Wall Street Journal all say that the U.S. economy is a giant Ponzi scheme.Virtually all independent economists and financial experts say that rampant fraud was lar…
A Banana Republic With No Bananas
April 12th, 2010 |
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Experts on third world banana republics from the IMF and the Federal Reserve have said the U.S. has become a third world banana republic (and see this and this).Are they right?Well, let’s look at Wikipedia’s description of the four factors which make …
Banking Industry Insiders Call for Breaking Up Giant Banks
April 7th, 2010 |
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Virtually all independent financial experts are demanding that the too big to fail banks be broken up, including:Nobel prize-winning economist, Joseph StiglitzNobel prize-winning economist, Ed PrescottFormer Secretary of Labor, Robert Reich Chairman of…
The Inverse Relationship Between Dollar and Gold
November 3rd, 2009 |
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I think gold will do well long-term. See this and this.But as I have previously argued, I think gold is surging right now mainly due to weakness in the dollar. See this and this.Indeed, Nouriel Roubini says that commodity prices have risen largely bec…
Debunking the “Too Big To Fail” Myth
October 13th, 2009 |
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As MIT economics professor and former IMF chief economist Simon Johnson points out today, the official White House position is that:(1) The government created the mega-giants, and they are not the product of free market competition(2) The White House n…
The Real Reason the Giant, Insolvent Banks Aren’t Being Broken Up
October 3rd, 2009 |
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Why isn’t the government breaking up the giant, insolvent banks?We Need Them To Help the Economy Recover?Do we need the Too Big to Fails to help the economy recover?No.The following top economists and financial experts believe that the economy cannot r…
Top Economists Say We Must Break Up the Insolvent Banks (Government Says Let’s Make Them Bigger)
September 11th, 2009 |
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The following top economists and financial experts believe that the economy cannot recover unless the big, insolvent banks are broken up in an orderly fashion:Nobel prize-winning economist, Joseph StiglitzNobel prize-winning economist, Ed Prescott De…
Roubini: “When Governments Reach the Point Where They Are Borrowing to Pay the Interest on Their Borrowing They Are … Running a Ponzi Scheme”
August 28th, 2009 |
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In a new essay in Forbes, Nouriel Roubini writes:Net public debt is going to double as a share of GDP between 2008 and 2014. Even using the very optimistic forecasts of the Congressional Budget Office, which anticipate growth of around 4% over the next…
Dan Dorfman: Grandma Knows Best
July 17th, 2009 |
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My grandma said that if I read something that doesn’t seem to make sense, I should think twice about it. With that thought in mind, I decided to rattle off a slew of economic absurdities coming from Wall Street, the media and Washington.