IKB, along with another famous fool at the Wall Street poker table called WestLB, is based in Düsseldorf—which is why, when you asked a smart Wall Street bond trader who was buying all this crap during the boom, he might well say, simply, “Stupid Germans in Düsseldorf.It’s the Economy, Dummkopf!
Michael Bury, the guy from Michael Lewis’ best seller, The Big Short: Inside the Doomsday Machine made huge chunk during the crash of 2008
More than a few top economic thinkers have significantly upped the chances of a return to a recession. Today, the noted bear Nouriel Roubini, the president of RGE Monitor and a professor at New York University, delivered a grim prognostication via Twitter: “Risk of a double dip recession in advanced economies (US, Japan, Eurozone) has now risen to 40%.”
And also don’t forget about the notion of new normal which is here to stay for long time.
Default, like pain, is a very useful signal that something is not right. If you mask it or make it too difficult to register you will carry on doing the things that are damagingIn praise of default
Crises of Capitalism
Another awesome presentation from RSA Animate
The mortgage finance companies, created by Congress to help Americans buy homes, have become two of the nation’s largest landlords.Cost of Seizing Fannie and Freddie Surges for Taxpayers
For people complaining higher tax: the time when US had the higher tax rate were also days with stable economic prosperity.
Socialism is better than broken capitalism
Surprise: US blows out China and Brazil (BRIC nations) as the most attractive market for investments
