ButAsForMe 

Economic Collapse

Bank Runs Hit Greece

May 15, 2012

Greek depositors withdrew 700 million euros ($900 million) from the nation’s local banks recently, said President Karolos Papoulias, though the exact timing of the transfer was unclear. Citing a conversation he had with Greek Central Bank Governor George Provopoulos, Papoulias said “that the strength of banks is very weak right now.” Read More    

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Months, Not Years: The Fat Lady is Singing

May 14, 2012

Paul Krugman–the Nobel Prize winning professor at Princeton–dropped a bombshell. We are talking serious stuff. As in the “end of the euro,” “huge withdrawals from Spanish and Italian banks,” and “limits on cash withdrawals” such as capital flow controls. “And we’re talking about months, not years, for this to play out.” This is serious news–even if Krugman [...]

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James Turk gives his timeline on the Dollar’s Collapse

April 25, 2012

With Italian and Spanish bond yields back on the rise, we’ve recently seen the Dutch government collapse under the weight of austerity talks and French president Nicolas Sarkozy defeated after the first-round of elections. As price discovery is guarded against in the financial markets, are we seeing its emergence reflected in the delicacy of eurozone [...]

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The Creepy Obama Presidency

March 30, 2012

Normally this writer doesn’t follow Peggy Noonan, the former speechwriter for President Reagan, except for her occasional appearance as a voice of opposition on a weekly mainstream national political newscast show; however, her op-ed piece today in the Wall Street Journal encapsulates what we have been writing about since 2008 about our fears concerning an Obama [...]

Tagged as: Election of 2012, Obama, Obama Care, Peggy Noonan, Republicans, Wall Street Journal

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Despite Dodd-Frank, Nation Remains At Risk

March 28, 2012

The economic crash of 2008 spotlighted the cost of leaving derivatives unregulated, controlled by a few large banks.  Despite the much touted  reform of Wall Street by President Obama with passage of Dodd-Frank, the derivative market remains unregulated and thus  still poses a threat of catastrophic economic failure  as  reported this week in an editorial [...]

Tagged as: banks, Derivatives, Dodd Frank Not Fully Enforced, Manufacturing At Risk, N.Y.Times, Pensions Remain At Risk

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Hedge Fund Founder: Euro Banks Insolvent, Euro Situation Much “Worse Than 2008″

December 19, 2011

The Founder of one of the world’s largest asset managers, the $30 billion hedge fund BlueCrest, Michael Platt, spoke to Bloomberg TV and cut right to the chase,saying most of the banks in Europe are insolvent and the situation in the region is “completely unstable.” On how he approaches market risk: “”I do not take [...]

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The OMG of the EU Crisis!

December 13, 2011

As we approach the holidays, we have seen Wall Street rallies and declines in unemployment –if you do not look too close, that is.  Meanwhile Europe waivers on a new economic strategy to rein in its’ members to the south, and the United States major bankers and companies quake at the thought of what the [...]

Tagged as: David Weidner of MarketWatch, Europe Economic Crisis Spillover, Global Economic Uncertainty, No confidence in EU leaders

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Proposed Agenda For Occupy Wall Street #4: Prevent Another Financial Collapse By Breaking Up Big Banks

December 10, 2011

Strings were never tied to TARP, and as a result Wall Street and the financial institutions have learned zip from their wanton, careless and risky behavior pre-2008.  It is their sheer size that created the nation coming so close to the edge, and if the present problems of the European Union tells us anything is [...]

Tagged as: Break-up the Banks, James Kwak, Proposed Agenda for OWS, simon johnson, vulnerability of u.s banks and corporations to eu crisis

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MF Global and Jon Corzine Culpability

December 9, 2011

From Goldman Sachs to governor to grilling, Jon Corzine former CEO of the now bankrupt MF Global testifies on Capitol Hill. He claims he is clueless about how and where the possible $1.2 billion dollars of his client’s money is that is missing. How has all of this happened three years after the financial crisis [...]

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Occupy Wall Street Proposed Agenda #3: Term Limits Necessary To Rid System Of Career Politicians

November 23, 2011

The idea of citizen legislator is fundamental to our democracy, but has been slowly circumvented since the early 1980′s.  Many worthy candidates have been dissuaded from running because of the emergence of one issue PAC groups.  The result has been a disproportionate amount of true believers, on both the right and left, with the more [...]

Tagged as: Loss of Moderates In Government & Resulting Gridlock, Occupy Wall Street, PAC Groups, Political Movements and necessity to put words into action, proposed agenda for occupy wall street, Reformed Liberal

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Obama Cuts Long Term Care Option For Seniors

November 10, 2011

One of the few benefits of Obama care for the middle class has gone on the chopping block–long term care.  CLASS, the Community Living Assistance Services and Supports program has been abandoned by Obama’s Administration leaving a void in a health care system that specifically hits the working class. CLASS was seen as an initial [...]

Tagged as: AARP, CLASS, CLASS another hit on middle class, long term care, Middle Class, Obama Care, YES WE CAN IF WE KNEW HOW

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