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GEAB No. 20 is now issued. This is one of the few publications that has achieved a remarkable predictive record on the subprime crisis and the global credit crisis. Although it is a subscription item (I have no financial connection or other connection) there is an informative abstract provided on the site. The following is excerpted from this abstract:"The rapid aggravation of the global systemic crisis as its phase of impact unfolds (1) has brought our researchers to estimate that the c... Read Full Story
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The Global European Anticipation Bulletin No.19 of which an abstract is available, outlines some possible scenarios in the world of banking stemming from the unfolding subprime crisis and its siblings the credit crisis etc. "[A]t least one large US financial institution (bank, insurance, investment fund) will file for bankruptcy before February 2008, sparking off bankruptcies among a series of other financial institutions and banks in Europe (in the UK especially), in Asia and in various... Read Full Story
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An object lesson for the US taxpayer is being played out in the subprime crisis fallout in the UK. The naive among us can still be found, on blogs and elsewhere, insisting that the measures being put in place by Governments and Central Banks will not cost the ordinary citizen. Developments in Britain are now showing the utter fallacy of this position.It appears that Northern Rock, the British bank which suffered a run earlier this year in fallout from the funny money routine may saddle the UK... Read Full Story
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The Global European Anticipation Bulletin No.18, Seven sequences of the impact phase of the global systemic crisis (2007-2009), is now available. This publication offers possibly the finest analysis of the big picture of the economic crisis to be found. Although a subscription item, there's an intriguing extract available without charge.Here is the full scope of the current issue:This public announcement provides the full description of the first sequence in addition to the complete list ... Read Full Story
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"Defaulting middle-class U.S. homeowners are blamed, but they are merely a pawn in the game. Those loans were invented so that hedge funds would have high-yield debt to buy." Satyajit Das in an interview with Jon D. Markman, The Credit Crisis Could Be Just BeginningIn what follows I revisit the theme I touched on recently, namely the way in which all the focus of the current credit crisis is being laid at the door of the subprime bubble and by implication on those Americans who ente... Read Full Story
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Anyone get the impression as I do that the scene is being set for placing the blame for the economic crisis on those hapless people who were so inconsiderate as to put everyone at risk by actually taking advantage of what they saw as the opportunity to get their piece of the pie? Yes folks, the reason the wheels of high finance are now gumming up is you or your neighbours utter selfishness in wanting a decent roof over the heads of your families. How thoughtless and unpatriotic of you to thro... Read Full Story
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Published to Housing Bubble News
Wikizines are interactive magazines that anyone can create or edit - and this one is called "Housing Bubble News". Here you can find fresh voices and respond in real time. Some members write articles about recent news and trends related to the wikizine's topic, others recount relevant personal stories or share their favorite pictures and video clips. Got an interesting idea or story to share with other members of this wikizine? Well, then put on your journalist's cap and a... Read Full Story
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Published to Secretary Hank Paulson
Since Secretary Paulson's remarks on the housing bubble in the Newshour segment for Thursday May 17, Treasury Secretary Discusses Wolfowitz, Chinese Economy , may have been drowned out by more salacious developments in the world of high level banking I give them here:JIM LEHRER: One final question, and a third subject. How worried are you about the slump, so-called slump in the housing market in the United States right now? And what kind of damage, if any, is it doing to the economy?HENRY... Read Full Story
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Who hasn't heard stories of inveterate betting men fully alert to the essential truth that everything in life is a wager. It's chilling to think that the progress of the subprime bubble may well depend on the progress of two flies on a window pane, but let's not forget the idea attributed to chaos theory of the connection between the flapping of butterfly wings and the tornado that topples an economy. (A fascinating area in which to see the dissipation of risk based on essentially the same no... Read Full Story
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Bernard Ber, an investment representative with CIBC in Toronto, has published an article that for its superior analysis deserves attention. (This originally appeared in Guest Commentary at PrudentBear.com but at time of writing has gone missing; this may or may not have conspiratorial implications depending on your temperament; I give an alternative link below). The opinion expressed, needless to say, is hardly the official position of the Bank and one wonders to what extent it is a view shar... Read Full Story
