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Bankster: Dont Hate The Player, Hate The Game

Mon, 26 Oct 2009 17:57:52 GMT

In the months since I began this website, I have had some fairly harsh things to say about economic policy in the U.S., the U.K. and elsewhere. I have consistently condemned what I think is a captured government promoting an unstable financial system and a bloated financial sector.[More...]

Bernanke And King In The Last Chance Monetary Policy Saloon

Wed, 11 Feb 2009 19:26:00 GMT

Normal 0 Wednesday, February 11, 2009 by Martin Denholm, Managing Editor, Smart Profits Report Dear Smart Profits Report Reader, Federal Reserve governor Ben Bernanke and Bank of England governor Mervyn King both used to be teachers. I’m glad I wasn’t a student in their classes. Teachers are supposed to make complex things simple. But these two guys are about as clear as mud, as they dance around monetary policy jargon like drunken nightclubbers. I’ll get to Merv in a minute, since he had more dire things to say about the state of Britain’s economy this morning. First up, though, let’s wrestle with Mr. Bernanke’s latest explanation of current monetary policy… What’s[More...]

CNN: French Take to Streets in Protest Against Economic Solutions

Thu, 29 Jan 2009 16:24:00 GMT

One of my calls for 2009 will be far greater social unrest as those countries without sheeple (i.e. almost everyone ex-USA) will start getting seriously peeved. A reader mentioned this story below so let me throw it on the blog.... p.s. I saw last night that a whopping 3.5% of the stimulus plan is for infrastructure. Now that is laughable based on all the huge moves in the stocks and the "promises" that this is an investment in our future. CNN: Huge Crowds Join French Strikes (in a related note, Americans found satiated by thoughts of American Idol, as their government commits somewhere upward of $2 trillion to stimulus + bad bank) The irony in this is the[More...]

UK In Worse Recession Than Expected

Sat, 24 Jan 2009 16:24:00 GMT

“(It) is much sharper than expected,” says Lena Komileva, head of G-7 market economics at Tullett Prebon. She was talking about the UK economic slowdown, but these days she could have been speaking about the decline in any number of entities, including but not limited to Sony (NYSE: SNE), Microsoft (Nasdaq: MSFT), Citigroup (NYSE: C), and Bank of America (NYSE: BAC). When it comes to the British economy, they were wrong by 0.3%. As I said in an earlier blog today, everybody already knew that the UK was destined for recession, in fact so much that they were largely even saying they were already in one. But while they originally predicted that gross domestic product would fall 1.2%, the damage actually came to 1.5%. The originally predicted bad news would have sent the pound tumbling, but the reality brought it down even[More...]

How 'Free' Can Be Profitable

Thu, 08 Jan 2009 21:26:00 GMT

According to the BBC, Chris Anderson has a groundbreaking new way of conducting business. His bold claim is that the costs in the digital world are so low that companies centered around the web can offer products for free while still making a profit. In his scenario, it’s a win-win situation for both the corporations and the consumers. Anderson is so confident in his proposal that he’s written a book on the subject, entitled “Free: The Future of a Radical Price.” Of course selling that idea comes against two immediate barriers. The first one is the business world itself. Any executive worth his or her salt is going to question the idea. After all, offering free products to customers means no immediate profits. It means that people could take advantage of the situation, taking more than intended or estimated, and it means at least an original loss of[More...]

I'm Sorry, I Haven't A Clue

Thu, 13 Nov 2008 13:42:00 GMT

There is a long and glorious history of transatlantic cross-fertilization when it comes to television programs and other forms of entertainment. Staples of the US television landscape such as Sanford and Son (Steptoe and Son), American Idol (Pop Idol), and The Office (The Office) all started life on the British airwaves. It appears as if US policymakers have seized on the idea, re-incarnating the popular UK radio show I'm Sorry, I Haven't a Clue.[More...]

The Election: Nothing Changes But The Names And The Faces

Tue, 04 Nov 2008 18:20:00 GMT

"You know what the news is-- in a minute, you're going to hear the rest of the story"- Paul Harvey Today is election day! Big deal. The "little people" in the U.S. scurry around like a bunch of emotionally charged ants, and don't realize that the outcome has been predetermined. Regardless who wins, you can take confidence in knowing that both candidates are owned by the same people. Some say they belong to the bankers, corporations, and the wealthy. I would say all of these, to a certain extent, are accurate. Remember, "Nothing Changes but the Names and the Faces". The Stock Market Yesterday's trading was quiet as the major market averages were little changed on light volume. Oil prices jumped $7 per barrel this morning as the "election year magic" is[More...]

Now a Very Realistic Possibility

Wed, 27 Aug 2008 08:30:00 GMT

Slowly but surely, a growing number of people -- except equity investors and Wall Street "strategists," many of whom appear to lack the brainpower necessary to figure such things out -- are coming around to the idea that there is something highly unusual about what is happening on Wall Street and Main Street. Instead of another brief crisis that quickly blows over -- aided, perhaps, by the supposedly all-powerful Federal Reserve -- and a garden-variety downturn that rumbles by without causing too much damage, we have a lingering and contagious disaster in the financial sector that is wreaking widespread havoc in an already unraveling economy. Such circumstances bring to mind an earlier, more dangerous time. In fact, according to a report in the Scotsman, "Slowdown Echoes Great[More...]

Eight News Stories - Aug 14 2008 1:38PM

Thu, 14 Aug 2008 17:31:00 GMT

David Reeves (president SCEE) tells customers to steal from Sony. This is what it looks like, here are his exact words: “We are a PAL market and we are going to do it in PAL and we are going to do it properly, you can wait for it and you can have it in good quality, you know you can get the stuff from Bittorrent if you want to and download PSP games, it’s up to you.” [More...]

Periodicals Wrap-Up for Thursday, August 7th

Thu, 07 Aug 2008 13:35:00 GMT

Nissan Motor (NSANY) and Chrysler are already working together on pickups and subcompact cars. Now the two are discussing jointly producing mid-size cars that would be sold in the U.S. under Chrysler's name[More...]