23 responses so far ↓

• Phil

  Jul 15, 2009 at 1:43 am

  

  @Calpers …

  … “Calpers maintains that in giving these packages of securities the agencies’ highest credit rating, the three top ratings agencies — Moody’s Investors Service, Standard & Poor’s and Fitch — “made negligent misrepresentation” to the pension fund, which provides retirement benefits to 1.6 million public employees in California.”…

  Wow .. the first to sue .. it’s about time.
  OTOH, they might as well just try and sue the US Govt., it’s the same thing IMO .
  I remember in 2007 when some Town Council was apparently going to sue some US entity ( forgotten which one ) over subprime fraud …. never heard anything more since then !

  Maybe CalPers will have more luck … with Arnie’s support ?
  Go get’em Arnie .
• snoopd diddy

  Jul 15, 2009 at 1:46 am

  

  @marcus,
  nice to see Steve Keen got recognition in this list by Dirk Bezemer, a Professor of Economics at the University of Groningen in the Netherlands.
  by Dirk Bezemer, a Professor of Economics at the University of Groningen in the Netherlands.
  http://www.debtdeflation.com/blogs/

  Max and Stacy might have to send em an earlier copy of ‘Truth about Markets’ to get on the list too
• Phil

  Jul 15, 2009 at 1:58 am

  

  @Gold .. Thx for the links Youri and others.

  Call Me Contrarian
  http://fofoa.blogspot.com/2009/07/call-me-contrarian.html

  The Daily Gold
  http://harveyorgan.blogspot.com/2009/07/july-1109-commentary_13.html
• Mini US

  Jul 15, 2009 at 2:03 am

  

  Re: Rio Spy in China.
  Don’t mess with China – thats the message.
  Rio Tinto dropped a proposed 30% purchase by China’sChinalco, then they teamed up with BHP to make lowering commodities prices for the Chinese even harder.
  China is trying to get cheaper commodities contracts from these guys and they won’t budge.
  So China says: “Cop this you guys”.
  If you wanna do business with us, you do it our way.
  Maybe we call Brasil.
  I think it will blow over. Apparently this stuff happens all the time. Bribery is a part of business life there…until there is a reason to ignite the law all of a sudden when it is useful.
  Its like in Bali. The cops patrol the beaches as selling is illegal, 15 minutes later the tax collector comes by. Its all just a big game.
• Phil

  Jul 15, 2009 at 2:09 am

  

  @snoopd diddy … ““No-one saw this coming?” Balderdash!”

  Thx for the link.

  They missed a whole load of people from that list of “qualified researchers”.

  We could start with Adam Hamilton ( Derivatives Bubble – JPMorgan ) from 2001 – or Max Keiser !
  Their list starts in 2006 ONLY !

  Also, I think he should have made the following points as well …..

  #1 Glass-Steagall Act reform 1999
  #2 Naked Short Sellers – no arrests
  #3 Comex manipulation – no arrests
  #4 Insider Trading – only Martha Stewart ?
  #5 Rating Agencies – no accountability
  #6 SEC – no arrests
  etc. etc. etc.

  There have been SO MANY SERIOUS BOOKS written about the WS and Govt. collusion not to mention Catherine Austin-Fitts telling them squarely in their face that AIG is basically a money laundering operation.

  In the end .. you have to ask yourself … does the US Govt. think they can get away with anything ?
  Answer : Yes.
• Phil

  Jul 15, 2009 at 2:09 am

  

  Some interesting topics here …

  ICN Informed Citizen News 07/12/09
  http://www.youtube.com/watch?v=bOxcCEFFXgw

  Story #1 – President Prepares Country for Vaccinations
  Story #2 – Flu Vaccine Ingredients
  Story #3 – Poland: 21 people die after bird flu vaccine trial.
  Story #4 – Letter sparks investigation of baxter vaccine by New Zealand Minister of Health
  Story #5 – Baxter Whistleblower fired
  Story #6 – Audit the Fed Blocked by Senate Democrats
  Story #7 – Obama’s Science Czar Once Advised Forced Abortions
  Story #8 – Liberal Supreme Court Judge Once Worried Ov
  Story #9 – 32 million on food stamps
  Story #10 – Barrick Inc admits central bank involvement in gold manipulation
• snoopd diddy

  Jul 15, 2009 at 2:21 am

  

  good vid on GS earnings etc:
  Ticking Time Bomb!! Bend Over Joe the Plumber!!
  http://www.youtube.com/watch?v=kt4s3pcPFkE
• Mike2liverpool

  Jul 15, 2009 at 2:53 am

  

  Yo, Heads Up
  UK Unemployment breaks all records!
  http://news.sky.com/skynews/Home/Business/Unemployment-Figures-Show-281000-People-Lost-Their-Job-In-Three-Months-To-May-Biggest-Rise-On-Record/Article/200907315338342?lpos=Business_Carousel_Region_0&lid=ARTICLE_15338342_Unemployment_Figures_Show_281000_People_Lost_Their_Job_In_Three_Months_To_May_Biggest_Rise_On_Record
  Mike
• Mr Supergeek

  Jul 15, 2009 at 2:54 am

  

  Bank sues itself…maybe it will catch on…file under ‘you couldn’t make it up’

  http://www.foxbusiness.com/story/markets/al-lewis-wells-fargo-bank-sues/
• Fibon11235

  Jul 15, 2009 at 3:02 am

  

  @snoopd diddy

  Enjoyed your post about the factors separating economists and there abilities to read and understand and predict economic collapses.

  The crises could not be predicted what more disinformation?

  The debt cure analogy, give the drug addict more drugs or the alcoholic more alcohol. That should sober them up for a short while, but then there is the hangover. Wooopeeedoo says it al lol
  http://www.youtube.com/watch?v=1wfXJmwnoy0
  The financial sector is not really private but a extension of government as it has government privileges over the market?
• Fibon11235

  Jul 15, 2009 at 3:04 am

  

  @snoopd diddy

  Enjoyed your post about the factors separating economists and their abilities to read and understand and predict economic collapses.

  The crises could not be predicted what more disinformation?

  The debt cure analogy, give the drug addict more drugs or the alcoholic more alcohol. That should sober them up for a short while, but then there is the hangover. Wooopeeedoo says it all lol
  http://www.youtube.com/watch?v=1wfXJmwnoy0
  The financial sector is not really private but a extension of government as it has government privileges over the market?
• Lloyd G

  Jul 15, 2009 at 3:43 am

  

  CalPers to state employees (upon filing futile lawsuit): It’s not our fault we lost your money.
• Youri Carma

  Jul 15, 2009 at 3:52 am

  

  Rudd warns China on Rio detention: Kevin Rudd, Australia’s prime minister, toughened his stance on China’s deten.. http://tinyurl.com/ntmpbr
• Dan

  Jul 15, 2009 at 3:57 am

  

  Goldman Sachs sees bumper profit

  http://news.bbc.co.uk/1/hi/business/8149762.stm

  The shakedown continues.
• Youri Carma

  Jul 15, 2009 at 3:58 am

  

  Los Angeles accused of criminalizing homelessness http://link.reuters.com/dyg78c
• Amandip Singh

  Jul 15, 2009 at 6:07 am

  

  Marc Mobius of Templeton Assets Management expects Derivatives and Stimulus to spark new crisis

  http://www.bloomberg.com/apps/news?pid=20601109&sid=ajsCDAWaoANg#

  Below is the video link talking about investigation into CDS market by DoJ. Guest don’t expect that banks huge profits will be curtailed as they will find other ways to make more money.

  http://www.bloomberg.com/avp/avp.htm?N=av&T=Grodzki%20Says%20%60Game%20May%20Be%20Over%27%20in%20Credit-Default%20Swaps&clipSRC=mms://media2.bloomberg.com/cache/vcdcSG9ycsP4.asf
• Patrick

  Jul 15, 2009 at 7:12 am

  

  http://gregor.us/california/washingtons-dilemma/
• juergenwahl

  Jul 15, 2009 at 7:36 am

  

  Food for thought by Lacy Hunt, who wrote two famous books on business cycles: “Dynamics of forecasting;” and “A time to be rich.” (One of the most thourough works on debt, and all of its implications, is Freeman Tilden’s 1936 tome, “A world in debt.”) -

  http://www.marketoracle.co.uk/Article12008.html

  China is definitely on the rise. She should do quite well as long as the Anglo-Amero-Dutch slave masters feel that they can still control and exploit her for their own nefarious ends. Then, as the Japanese miracle was made possible by the overvalued dollar, and ultimately terminated by the buck’s engineered swoon, a less useful China will be subjected to a like fate(probably via regulation and sanction) .

  http://stockcharts.com/h-sc/ui?s=$SSEC&p=W&yr=3&mn=0&dy=0&id=p93045120832

  And now a song about another type of swooning:

  G-STRING GIRL
  by Matt Presser

  The fans were growing restless
  ‘Cause they wanted a fight,
  But no one was prepared for
  What they witnessed that night.
  She caused a great commotion
  When she climbed in the ring…
  Her body was well-oiled and
  She was wearing a string!

  The guy she was to wrestle
  Was not more than a dud.
  Although he tried his best she
  Washed his face in the mud.
  She picked him up, then twirled him
  ‘Round, and rattled his bones…
  My ears were ringing loudly
  From the sound of his groans!

  Mud and oil
  G-string girl,
  The crowd is on your side
  When you go into your whirl!
  Mud and oil
  G-string girl,
  You’re my goddess,
  G-string girl!

  He gained a quick advantage
  And slammed her for a feel,
  But since she was all slip’ry
  She slid free like an eel.
  The action got so frightful
  He fell down in a swoon…
  And when she dropped to pin this
  Dude, you saw the full moon!

  Mud and oil
  G-string girl,
  The crowd is on your side
  When you go into your whirl!
  Mud and oil
  G-string girl,
  You’re my goddess,
  G-string girl!
• Mep

  Jul 15, 2009 at 7:43 am

  

  @ Stacy . . . another one: lawsuit against Carlyle Group;

  http://online.wsj.com/article/SB124754010782236777.html
• M

  Jul 15, 2009 at 8:48 am

  

  Alright guys: enough is enough!

  Why am I not able to find any news on Dubai (and other) requesting delivery of their physical from London?

  Anyone??
• sharon

  Jul 15, 2009 at 10:10 am

  

  @M
  You can’t trust the British government.
• M

  Jul 15, 2009 at 10:18 am

  

  I know, but I am very curious to know whether Dubai really asked for delivery. And got it…

  I think we all should be, as this really is major.
• Fred’s Family

  Jul 15, 2009 at 11:06 am

  

  Funny, when a fire cracker blows up in your hand and you go crying to mommy to get the bad man who sold them to you,
  She turns and buys even more fire crackers.

  I think I read 2 months ago Calpers was hiring 400 new
  S.I.V. race car drivers.

  I’m sure the judge is going to like that !