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US Banks “better” thanks to Fed-Treasury money mill

March 15th, 2012 | Posted by perilun in Econ / Finance - (Comments Off)

Looks like most of those problem big banks now pass the “stress test” (here is a Bloomburg write-up on this).   While some might think of this as a result of hard work I suggest something much different – basically these big banks are cutting back on being lending and savings banks for individuals, small …
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Very fun 8 minute video on the European financial crisis

March 4th, 2012 | Posted by perilun in Econ / Finance | Europe - (Comments Off)

A very fun 8 minute video on the European financial crisis is available at youTube: (click here to go to right youTube page to play) Below is a graphical outtake: It seems like the ECB has very recently (in a few weeks) tossed in 1,000,000,000,000 Euros to any bank to effectively grant 100% value (AAA+++) for …
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German Rentenmark model for new Greek currency

February 27th, 2012 | Posted by perilun in Econ / Finance | Europe - (Comments Off)

The Greek (second) bailout is the big thing that never quite gets done.  Two-thirds of people in Greece and Germany still think there will be a default at some point even with this plan.  Bad blood continues to deepen as German flags are burned on side and insults build up from the other (click here).  One of …
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Money stability single mandate for Fed bill – great!

February 25th, 2012 | Posted by perilun in Econ / Finance | Government - (Comments Off)

Representative Kevin Brady’s “Sound Dollar Act” aims to “maintain the purchasing power of the dollar in order to foster long-term economic growth and stability.”  Click here for news item at CNBC.  Basically it gets rid of the “dual mandate” to promote jobs/economy and money stability and just go with money stability.  The “dual mandate” has really …
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Greece: If Europe does not want you China does

February 10th, 2012 | Posted by perilun in Econ / Finance | Europe - (2 Comments)

The latest wrinkle in the never ending Greek financial saga is now the Eurogroup wants more cutting, more concessions and some soft of guarantee that democratically elected Greek governments will uphold these agreements made by a few and never voted on in any form by the Greek people (click here for CNBC item).  My guess is that the only thing that …
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Robo-deal is another hit to the rule of law …

February 9th, 2012 | Posted by perilun in Econ / Finance - (Comments Off)

Although it is good some folks will get a few thousand bucks to make up for their robo-signed induced nightmares … the deal is really small for the huge profits the industry made (mainly the big guys at the top of these 5o or do mortgage mills) and slow death of the rule of law. …
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Making a bad mortgage mess worse

February 1st, 2012 | Posted by perilun in Econ / Finance | Government - (Comments Off)

Looks like the president is offering another trial balloon to help out homeowners while ignoring the real costs (click here).  This one has the FHA backing “no-cost” (the Feds will pay $10B to service the process and paperwork) refi’s to allow anyone conforming to FHA limits to refi to 4.5%.  The president sells this as a …
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Good post on the dangers of low rates

January 30th, 2012 | Posted by perilun in Econ / Finance - (Comments Off)

So often the media and others treat low interest rates as an unalloyed good.  But near zero rates have several levels of potential bad consequences.  I will agree that the Fed is not entirely to blame for the low rates, but they have, with the Treasury incentives for banks not to need the savings of the common …
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America’s dumb luck and best last chance

January 4th, 2012 | Posted by perilun in Econ / Finance | Education / Job Paths - (1 Comments)

The foolishness of others has created a short window for America to take back the 21st century.  Europe has blown its chance as shown by the Euro breakup debate.  China will pull back as their property market bubble bursts at the same moment Europe falls into recession. No one else has the scale of the USA market.  America …
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2012: The good, bad and ugly

January 4th, 2012 | Posted by perilun in Econ / Finance | Education / Job Paths | Energy | Government | Healthcare - (2 Comments)

Good: America slowly climbing toward energy independence, allowing exit from mid-east Man-made global warming scam failing (hopefully anti-coal and anti-drill fails) Ethanol subsidies and tariffs ended, solar-gate and electric-car gate becoming clear Bad: No real significant long term reform of budget or tax code on table U.S employment model continues to fail many, college becoming …
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