muses of the moment

April 5, 2012

James Kenneth Galbraith

Filed under: Bank bailout, Economic Crisis, Good Debt Bad Debt, Odds 'n ends, The Financial Crisis, Unemployment — totallygroovygirlfriday @ 7:09 pm

A really good interview (transcript) with James Kenneth Galbraith over at nakedcapitalism.

Click here.

They cover it all, corruption, inequality, faulty data, lack of rule of law.

I have no simple formula for dealing with this, beyond what I keep repeating: 1) enforce the laws against financial fraud and 2) downsize the financial sector as a matter of public policy.

and

According to our most recent measures, using county-level data, income inequality in the US did fall after 2008 and then rose again ‚Äď tracking the stock market as I found in the book. For lower-income workers, for older workers and for homeowners, the bottom fell out in the crisis and it has not been repaired.

Blythe speaks

Filed under: Credit Derivatives, Gold and Silver Investing, Precious metals, The Banking Crisis — totallygroovygirlfriday @ 5:13 pm

Apparently, the “blogosphere” is making an impact. Rarely seen Blythe Masters marches onto CNBC to answer the tough questions for JPMorgan…can anyone say damage control?

But not all of them, Tyler Durden still has some more questions. Click here, link to CNBC clip at the end.

This brings us to the transcript of Blythe’s interview on CNBC, in which a primary topic, ironically, was whether or not Jamie Dimon’s firm manipulates the prices of precious metals, and particularly silver. What followed was the usual avalanche of platitudes that only a muppet can love.

Side musing: loved her comment about how JPM “hedges” the physical silver positions of their clients (stored at JPM vaults) around the world. With the amount of money they “hedge”, they must represent every person on the planet with any physical silver holdings. Who buys this dribble?

Greek Implosion

Filed under: European Debt Implosion — totallygroovygirlfriday @ 12:32 pm

Another very interesting post over at Slog’s site on the Greek bailout. Click here. Also, check out the link at the bottom of Slog’s post.

How’s it going? It’s not going according to plan or according to how the media is portraying it. As suspected, the recent “voluntary cut” was a short-term, very short-term, fix.

Mr. Sinclair on KWN

Filed under: Gold and Silver Investing, Precious metals — totallygroovygirlfriday @ 11:40 am

Jim was interviewed on KWN. Another good interview. Click here.

Actually, several good interviews on KWN this week.

Time to debt

Filed under: US Government Debt — totallygroovygirlfriday @ 2:13 am

Current US debt clock is a mind-boggling number. But gg thinks everyone can relate to $50,000 per person. Ready to hand over your payment?

Click here.

un…sus…tain…able

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