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The Dallas Pension Fiasco Is Just The Beginning
Submitted by Jonathan Rochford via Narrow Road Capital,The recent blow-up of the Dallas Police and Fire Pension System was entirely predictable. Whilst it is tempting to blame unusual circumstances for...
View ArticleFrontrunning: December 24
Russia says NATO turning Ukraine into 'frontline of confrontation' (Reuters)Oil Drillers Under Pressure to Scrap Rigs to Cope With Downturn (BBG)Demonstrators Defy NYC Mayor's Call to Suspend Police...
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The Shocking Increase Of College Tuition By State
It is common knowledge that in the hierarchy of bubbles, not even the stock market comes close to the student loan bubble. If it isn't, one glance at the chart below which shows the exponential surge...
View ArticleFrontrunning: June 5
National Security Advisor Tom Donilon resigning, to be replaced by Susan Rice - Obama announcement to followJapan's Abe targets income gains in growth strategy (Reuters), Abe unveils ‘third arrow’...
View ArticleFrontrunning: March 19
Cyprus parliament ready to veto deposit tax (Reuters)Power still out at damaged nuclear plant in Japan (AP)CS' Dougan Calls Bankers Out-Earning Investors Unsustainable (BBG)Citi in $730 Million Pact on...
View ArticleBeware The 'Head-Fake' Taper As "Markets Have Now Discounted Their Own...
Submitted by James Howard Kunstler of Kunstler.com,The financial wires and pod-waves are all lit up these days like it was happy hour at the Lottery Winner’s Lounge. It appears that the American...
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Detroit Pensioners Face Miserable 16 Cent On The Dollar Recovery
If there is ever a case study about people who built up their reputation and then squandered it for first being right for all the wrong reasons, and then being wrong for the right ones, then Meredith...
View ArticleFrontrunning: October 10
The ice breaks; fiscal talks set (The Hill); Ryan steps up to shape a deal (The Hill), as predicted here yesterdayRepublicans consider short-term U.S. debt ceiling increase (Reuters)Shutdown Standoff...
View ArticleFact Or Fiction: Goldman Sachs Is Blowing Up A Nursing Home (And No One Can...
While none other than Meredith Whitney warned this morning (mere weeks after her most-bullish-on-banks-ever call) that big US banks' revenue model is unsustainable, we discover that the NYSE Amex...
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GReeTiNGS FRoM DeTRoiT...
. . WB7Detroit may be a canary in the public finance coal mine, but there was no shortage of warning signals.Meredith Whitney has been hounded by MSM schadenfreudeurs since she aired her ominous...
View Article25 Facts About The Fall Of Detroit That Will Leave You Shaking Your Head
Submitted by Michael Snyder of The Economic Collapse blog,It is so sad to watch one of America's greatest cities die a horrible death. Once upon a time, the city of Detroit was a teeming metropolis of...
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Meet Willem Buiter's Sexy, Demented Stalker
And now for something completely different. Citi's Willem Buiter is best known for his exhaustive, often times fatalistic outlook on Europe (he will ultimately be right about the Grexit, and Spexit,...
View ArticleDavid Kotok: Meredith, Will You Be My Valentine?
Latest from my friend David Kotok. I think both he and Meredith Whitney are too bullish on the banks. Fred Cannon at KBW is right. Mortgage banking revenue for US banks peaked in Q3 2012. And don't...
View ArticleFrontrunning: December 24
Global Currency Tensions Rise (WSJ) - in other words, when everyone eases "to infinity", nobody easesEU to give Spain, France more time to cut deficit (Reuters) - But not because their economies are...
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2012 Year In Review - Free Markets, Rule of Law, And Other Urban Legends
Submitted by Dave Collum via Peak Prosperity,BackgroundI was just trying to figure it all out.~ Michael Burry, hedge fund managerEvery December, I write a Year in Review that has now found a home at...
View ArticleZombie Dance Party: Same Girls, New Music
"As long as the music is playing, you've got to get up and dance. We're still dancing.”Chuck PrinceCEO, CitigroupBloomberg News reports that Bank of America Corp. (BAC), the best performer in the Dow...
View ArticleFrontrunning: December 18
Obama Concessions Signal Potential Bipartisan Budget Deal (BBG)Cerberus to sell gunmaker after massacre (CNN)With New Offers, Fiscal-Cliff Talks Narrow (WSJ)Judge rejects Apple injunction bid vs....
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On the Cliff
Absent some earth shaking event between now and November, Obama is going to win, the House will remain in the hands of the Republicans and the Senate will continue to be equally divided. The war...
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A Chinese Mega City Is On The Verge Of Bankruptcy
While most "developed world" people have heard of Hong Kong and Macau, far fewer have heard of China's province of Guangdong, which is somewhat surprising. With over 100 million people, a GDP of nearly...
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Buffett Joins Team Whitney; Sees Muni Pain Ahead As He Unwinds Half Of His...
Just under two years ago, Meredith Whitney made a much maligned, if very vocal call, that hundreds of US municipalities will file for bankruptcy. She also put a timestamp on the call, which in...
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