Monday, January 18, 2010
How Goldman Sachs Made Tens Of Billions Of Dollars From The Economic Collapse Of America In Four Easy Steps
The following is how Goldman Sachs made tens of billions of dollars from the economic collapse of America in four easy steps.... (more)
Heading into 2010 we've seen a range of forecasts and opinions. The econo-bears like Michael Panzner and David Rosenberg, while very prescient on the economy, continue to expect new lows or a retest of 2009 lows. Some bulls see the strong recovery as a sign that we are in a new bull market and that the market is leading the economy. Few seem to take the middle ground. Maybe that is because such a forecast isn't worth reporting in the media. That being said, before we think what is likely, let us think what is not likely. (more)
Given that recently-imploded Dubai World is still top of mind, and the Iceland meltdown was really not so long ago, it must make a mighty bitter pill for them to swallow.
According to the Financial Times: (more)
According to Bernholz, the great hyperinflations of France, Germany, Poland, Brazil, and Bolivia all occurred after deficits reached that magic percentage or higher (In Bolivia, it reached 91%). The United States crossed over the Bernholz line last year.
Japan is even deeper into the warning despite concerns of many that it has a deflation problem. Ambrose Evans-Pritchard writes: (more)