Disaster chic
Yes, the news is bad, but Lordy, people seem to be outdoing each other in predicting how horrible things will be. First, some examples of the current problems: The Russian bond market is dead. Their companies can no longer borrow…
Politics in the Zeros
"A republic, if you can keep it." Vegas, taxes.
Politics in the Zeros
"A republic, if you can keep it." Vegas, taxes.
Category recession
Is Silicon Valley seeing an economic turnaround?
Scoble Michael Malone wrote a post that caught my eye this morning saying he’s seeing an economic turnaround in Silicon Valley. Have we hit bottom? It’s too early to say, but it sure is nice to see even a little…
Asia: The coming fury
The sudden end of the export era is going to have some ugly consequences. In China, about 20 million workers have lost their jobs in the last few months, many of them heading back to the countryside, where they will…
It’s Bank Failure Friday again
Riverside Bank of the Gulf Coast of Cape Coral, FL and Sherman County Bank in Loup City, NE went kersplat today and were seized by the FDIC. Update: Two more just got added to the list, Pinnacle Bank of Beaverton,…
Your daily financial gloom report
Ireland credit default swaps widen. CDS allow speculators to buy and sell “insurance” on Ireland’s debt. The cost of such insurance in now soaring, up 20% in one day. German 10-year bond auction fails for second time. Germany is considered…