Is The SEC Covering Up Wall Street Crimes? - By Matt Taibbi (19/8/11) PDF Print E-mail
Matt Taibbi   
Friday, 19 August 2011 10:35

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Is ''Inflation Tax'' Preferred Over A Reduction In Big Government? - By Congressman Ron Paul (19/8/11) PDF Print E-mail
Congressman Ron Paul   
Friday, 19 August 2011 10:24

S&P States the Obvious

Politicians did not get much time to pat themselves on the back for supposedly rescuing the economy with the debt limit deal last week. The ink was barely dry when Standard & Poor's downgraded the US debt ratings anyway, roiling world financial markets. Anyone who has taken an honest look at the government's fiscal situation, taken into account how Washington works and the direction it is going would have a very difficult time arguing with S&P's decision, although a strong case can be made that this was too incremental a downgrade and that it took far too long for S&P to admit the obvious.

Nonetheless, the administration nitpicked over a $2 trillion ''mistake''. S&P rejoined with the fact that $2 trillion here or there hardly makes a difference in the time frame under discussion. That, if nothing else, should tell you the magnitude of the problem. $2 trillion has become a drop in the bucket.

S&P cited Congress's inability to act like grownups and make necessary, meaningful cuts, which is true. I must take issue however, with their suggestion that tax increases are part of the answer. Taking capital out of the private sector, where it can create real value in the form of new jobs and products, and instead giving it to Washington to waste and squander is not the solution. Tax increases may seem penny-wise to some, but in reality they would be very pound-foolish.



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Markets Heading To New Danger Zone: Zoellick - By Reuters (18/8/11) PDF Print E-mail
Reuters   
Thursday, 18 August 2011 09:53

The loss of market confidence in economic leadership in key countries like the United States and Europe coupled with a fragile economic recovery have pushed markets into a new danger zone, something that policymakers have to take seriously, the head of the World Bank said on Sunday.

Speaking at the Asia Society dinner in Sydney, Robert Zoellick also said the global economy was going through a multi-speed recovery, with developing countries now the source of growth and opportunity.


"What's happened in the past couple of weeks is there is a convergence of some events in Europe and the United States that has led many market participants to lose confidence in economic leadership of some of the key countries," he said.



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Is Debt Deleveraging Bad For The Economy? - By Robert Murphy (17/8/11) PDF Print E-mail
Robert Murphy   
Wednesday, 17 August 2011 08:37

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Global Banks Still Leveraged Up to Their Eyeballs - By Michael Shedlock (17/8/11) PDF Print E-mail
Michael Shedlock   
Wednesday, 17 August 2011 08:32

Global Economic Analysis

Jean-Pierre Chevallier reports on his Business économiste monétariste béhavioriste blog, that BNP Paribas leveraged: 27!

The real leverage of BNP Paribas is … 27.2!

Indeed, the French bank counts in its equity item 2: Undated Super Subordinated Notes eligible as Tier 1 capital which are actually a form of liabilities related interests subject to some conditions.

Chevallier posts a series of graphs taken from consolidated financial statements to support his claim.



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