Friday, May 15, 2009

GM Is Said to Plan Shutdowns for 1,100 U.S. Dealers (Update2) - Bloomberg.com

GM Is Said to Plan Shutdowns for 1,100 U.S. Dealers (Update2) - Bloomberg.com
50,000-100,000 in direct job losses.

Trade Wars Launched With Ruses, End Runs - washingtonpost.com

Trade Wars Launched With Ruses, End Runs - washingtonpost.com

History Rhymes it does not repeat. Right now I feel a big old beat.

Treasury Agrees To Aid Insurers - washingtonpost.com

Treasury Agrees To Aid Insurers - washingtonpost.com

We are all bank holding companies!

Thursday, May 14, 2009

Zero Hedge: FOIA Disclosure Busts Paulson, Geithner And Bair

Zero Hedge: FOIA Disclosure Busts Paulson, Geithner And Bair

Wow.

White House Czar Calls for End to 'War on Drugs' - WSJ.com

White House Czar Calls for End to 'War on Drugs' - WSJ.com
Is this the begin of the end? We can only hope so.

Financial Armageddon: On Borrowed Time Must read of the Day

Financial Armageddon: On Borrowed Time

The Epicurean Dealmaker: More of a Kickin' Sitcheyation

The Epicurean Dealmaker: More of a Kickin' Sitcheyation
Just a hilarious read. While I dont agree that no long term damage was done. I do agree if you are going to play the game you better know when to hold em and when to fold em.

Ships Tread Water, Waiting for Cargo - NYTimes.com

Ships Tread Water, Waiting for Cargo - NYTimes.com

More signs of bad things. If no ships are coming, what does that forecast for retail.

Mish's Global Economic Trend Analysis: California is a Complete Basket Case; Treasurer Requests Tarp Funds; LA Mayor Declares Emergency

Mish's Global Economic Trend Analysis: California is a Complete Basket Case; Treasurer Requests Tarp Funds; LA Mayor Declares Emergency

LOL. As California goes, so go we all. Superman Barney Frank will make sure they get money.

Five Things for Thursday, May 14-Minyanville

Five Things for Thursday, May 14-Minyanville
Awesome post.

Jobs Picture Still Getting Worse

Jobs Picture Still Getting Worse
More weeds. Less flowers.

Advanta’s Card-Lending Shutdown May Imperil Customers (Update2) - Bloomberg.com

Advanta’s Card-Lending Shutdown May Imperil Customers (Update2) - Bloomberg.com

A sign of things to come? With American Express and other major Credit cards companies slashing credit lines it is going to get tougher for the consumer.

Wednesday, May 13, 2009

Consumer Spending Drops 0.4%, Far More Than Expected

Consumer Spending Drops 0.4%, Far More Than Expected

Whoops. Looks like the green signs are weeds.

Tuesday, May 12, 2009

When Money Dies: The Nightmare of the Weimar Collapse

When Money Dies: The Nightmare of the Weimar Collapse
Some summer reading

naked capitalism: Federal Reserve Inspector General Unable to Answer Basic Questions on Where the Trillions Went

naked capitalism: Federal Reserve Inspector General Unable to Answer Basic Questions on Where the Trillions Went

I would hope someone is trying to make sure the FDIC knows what it is doing. Cause if we lose faith in the FDIC we are all goners.

FT Alphaville » Blog Archive » Whitney: “I call this the great government momentum trade”

FT Alphaville » Blog Archive » Whitney: “I call this the great government momentum trade”
"Hard and Fast correction" I think we are standing on the edge and it will be a long way down.

Zero Hedge: Even Moody's Thinks Fed's "Adverse Case" Is A Joke

Zero Hedge: Even Moody's Thinks Fed's "Adverse Case" Is A Joke
lite posting for the day

Monday, May 11, 2009

White House forecasts higher U.S. budget deficit | Reuters

White House forecasts higher U.S. budget deficit Reuters

Has hired weather men for future forecasts since they might have a better chances of being right.

naked capitalism: Guest Post: "Why I'm Freaking Out"

naked capitalism: Guest Post: "Why I'm Freaking Out"

Excellent read.

Allen Stanford Bought Protection From SEC With Drug Information

Allen Stanford Bought Protection From SEC With Drug Information

Really? I had to check twice that I was reading the BBC.

Sunday, May 10, 2009

Zero Hedge: Will The Real Chryslergate Fallout Please Stand Up

Zero Hedge: Will The Real Chryslergate Fallout Please Stand Up
Quick and painless will soon be replaced by Very painful and longer than a year.

Zero Hedge: Deutsche Bank's Socialization Of Risk Culture Redux

Zero Hedge: Deutsche Bank's Socialization Of Risk Culture Redux
Must read for the weekend