An excellent article from Ambrose Evan-Pritchard in the Telegraph about the nightmare of deflation. The curse of deflation is that it increases the burden of debts. Incomes fall: debts stay the same. This way lies suffocation. It was bad enough in the early 1930s when US farmers faced a Sisyphean Task trying to meet mortgage […]

How far do we stretch this. GE announced that it will begin tapping a facility known as the Temporary Liquidity Guarantee Facility which is extended via the FDIC. I hope there was a mistake I read in the WSJ article on this one. I wasn’t even aware that the FDIC had this facility nor can […]

Posting will be lite tonight as I am moving this blog to a new platform. Yes, for those of you who have followed me around, one more move. I need to get back to WordPress and away from Blogger. Apologies in advance. But, I can’t go to work on that without first offering a thought […]

I’ve never posted a comment I read on someone else’s blog so if I’m violating any taboos, I apologize. This appeared on Naked Capitalism this evening. I found it cynical, disrespectful and totally amusing. I hope you enjoy it as well. (By the way, the post by Yves Smith on AIG is top notch as […]