In defense of borrowing short and lending long

Maturity mismatch is taking something of a beating in the comments, including from smart people like former co-blogger Winterspeak ... . A wheelbarrow is simpler than a car. It is less likely to break, and less expensive to fix when it does break. But I would still rather have a car to do my shopping. So what are the reasons [more...]

Date: 2008-09-23 23:16:20

Blog posts (510) | Videos (29)
 

The Global Capitalist Crisis & India

The following is an editorial from Analytic Monthly Review. Published in Kharagpur, West Bengal, India, is a sister edition of Monthly Review. From the mrzine site.At Kasama, we are eager to see creative new work analyzing how global capitalism now operates in major Third World countries — and what that means for revolutionary possibilities and [more...]

Date: 2009-01-13 15:03:48

GM Bailout: When the Ship Sinks, Joe Six-Pack is to Blame

It seems each time the news turns to the financial sector there is a company or industry that’s failing ... was the American consumer. He reminded us of the large homes, financed shopping trips, auto loans ... credit system, that played a huge role in this collapse. What Anderson neglects to factor [more...]

Date: 2008-11-20 18:27:13

Debt Rattle, November 21 2008: Treading Lukewarm Water

G. G. Bain Wall Street Blood September 16, 1920 Aftermath of the explosion that killed dozens of people in New York's financial district, when a horse wagon loaded with dynamite and iron sash weights blew up in front of the J.P. Morgan bank at 23 Wall Street. The attack, which was attributed to Italian anarchists, was never solved [more...]

Date: 2008-11-21 21:39:31

Worse Than You Think - Part 1

Worse Than You Think - Part 1 Posted by DJ Drummond Published: December 1, 2008 - 2:48 PM Congress surprised me a little while back, ... dollars per car or truck sold) from sales and just under 3 billion dollars from finance and insurance ... into the financial health of these companies. Boy howdy, these guys are in really bad shape, and more, throwing [more...]

Date: 2008-12-01 19:48:25

Unforeseen Repercussions All Around In Florida

The Palm Beach Post reports from Florida. “Here in the eye of the nation’s financial storm, the Fed sits motionless, ... plenty of money’ in an equity loan.” “Silver said she wishes the Fed would cut rates and lenders would relax loan standards to boost home sales. But she is not optimistic for the short term. No matter [more...]

Date: 2008-08-07 14:10:02

Can You Survive on One Income?

People are losing their jobs left, right and centre. I’ve been overwhelmed with the letters from people who have recently been pounced on by the Unemployment Monster. And even people who still have a job have watched pieces of their income evaporate through pay-cuts or cuts in hours worked. Corporate North America is cutting back and Joanna Average is feeling the bite. [more...]

Date: 2009-09-28 09:45:34

READ THIS - The New Economics

Two articles that detail how we are about to enter a new world of protectionism where governments will have to to act to protect nation states in a ... about reducing the credit of the United States of America, which is the backbone of the economic system. I see nothing but large increases in the deficit, all of which are serving to decrease the credit [more...]

Date: 2008-11-18 13:10:00

Best 2008 Financial Jokes

Best 2008 Financial Jokes Posted by admin in : Dari Dalam Henpon , add a comment “Get my broker, Miss Jones.”"Yes sir. Stock, or Pawn?”? ... fund manager, and wait. The credit crunch has helped me get back on my feet. The car’ ... The market may be bad, but I slept like a baby last night. I woke up every hour and cried [more...]

Date: 2008-12-26 05:50:02

Debt Problems And Effects

by Eric Jilson Debt has both a human side and a financial side. It is easy to work out the financial aspect and it is incredibly large ... bottles in return for our “loyalty”. “Easy” credit is available and before they know it, many students ... . It is estimated that the average American household has a credit card debt in the vicinity of $12,000 [more...]

Date: 2008-12-25 15:01:58

Deal Journal] Bottom Feeding: Banco Santander of Spain is in advanced talks to take full control of Sovereign Bancorp, ... the credit crisis? Look to a measure called Value at Risk, or VaR, explains Gordon Crovitz. WSJ ... a program to buy mortgage-backed securities. The United Arab Emirates will guarantee domestic bank [more...]

Date: 2008-10-10 14:10:24

Socialism Is Everywhere

by hilzoy In a stunning reversal, John McCain today endorsed the redistribution of wealth: " ... do, and that's go in and buy out these bad mortgages, give people mortgages they can afford, stabilize home values and start ... : "He will commit a $5,000 tax credit for each and every customer who buys a zero carbon emission [more...]

Date: 2008-10-29 05:48:29

What Is The Point Of Bailing Out The Automakers If We Don't Want Their Cars?

The big decision looming right now is whether or not we should bail out the big three American automakers, and if so how should it be structured? ... to Detroit. To critics, it is a neat encapsulation of everything that’s wrong with bloated car ... , and comes to about $40 an hour. ... The second category is fringe benefits, like health insurance [more...]

Date: 2008-12-10 16:49:29

Merry Christmas & Happy Holidays to All!

U.S. Falls Deeper into RecessionBy Alister Bull ReutersWASHINGTON (Reuters) ... a recession ushered in by a credit crisis in the United States, with Japan and Germany becoming the two latest ... and their incomes shrank, according to a Commerce Department report that pointed to deepening recessionary [more...]

Date: 2008-12-25 12:03:00

Another Reason for Cash Hoarding: Big Credit Default Swaps Market Test Imminent

Most observers have taken as a given that the increased disinclination of banks to lend to each other is counterparty risk, that is, ... have said that financial firms are unwilling to provide loans to each other because they know how bad ... to a Financial Times piece that discusses the upcoming settlement of credit default swap payouts [more...]

Date: 2008-10-03 04:35:15

Links...

Paul Krugman: "But now Max Baucus - Max Baucus! - is leading the charge on a health care plan that, at least at first read, ... it illegal to reject people for insurance based on pre-existing conditions. I'm encouraged by this because it would undermine the private insurance model, and perhaps act as a driving force towards [more...]

Date: 2008-11-12 19:19:17

GLOBALISATION AND ITS IMPACT ON WALES

Polish road signs are now a common sight all over Our CountryRight I am going to do something a little different with what may be the penultimate post of the year.But before I start it, I would like to give a public thank you to Ancient Brit who provided me with the information I will be publishing [more...]

Date: 2008-12-31 08:52:00

The CIA Warned Condi

AP Study Finds $1.6B Went to Bailed-Out Bank Execsby Frank Bass and Rita Beamish - AP / Common DreamsBanks that are getting taxpayer bailouts awarded their top executives nearly $1.6 billion in salaries, bonuses, and other benefits last year, an Associated Press analysis reveals.Lloyd C. Blankfein, CEO of Goldman Sachs [more...]

Date: 2008-12-22 13:13:00

Gates of Vienna News Feed 10/8/2008

As of tonight the news feed has been up and running every day for three months (except for when I’ve been away).I’ve received a few complaints about it. Some readers don’t like to have to scroll through the headlines to get to the good stuff, and others don’t want me to waste space on American news stories which are being covered thoroughly [more...]

Date: 2008-10-09 03:43:00

News - Commentary - Opinions - Photos

Mumbai Siege Ends, Death Toll Hits 195By Mubashir Zaidi and Laura King - Los Angeles TimesWhile India has not yet accused a particular group, Pakistan vows to investigate possible links to militants. Indian National security Guard (NSG) commandos rappel down from a helicopter onto the roof of Nariman House, which houses a Jewish centre, [more...]

Date: 2008-11-30 11:27:00

How to Prepare for Buying a Home

This is a guest post from Jim, my friend and colleague at Blueprint for Financial Prosperity ... of thousands, over the life of your loan. Don’t buy a car. Don’t take advantage of 12-month 0% financing “ ... then, a house would could be listed on Friday and a contract signed by Monday. It was easy to get a loan [more...]

Date: 2008-09-03 12:00:29

Rainbow Financing

Believe it or not, a certain company exist nowadays that provides Car loans to everyone. Yes, they offer the cheapest loans with the best APR rates ... your own car and credit history is not a problem with them even if you had good or bad credit before ... , they are still serving many people that are looking for the best loan company in town. Rainbow [more...]

Date: 2009-01-13 22:36:00

Survival In The Struggling Economy

Survival In The Struggling Economy by Marisa November 19, 2008 I’ve stopped watching the financial reports on TV ... to pay. Utilities, mortgage or rent, car payments, insurance, food and fuel continue to eat away ... . What if our refrigerator dies or our water heater fizzles out? With a few bad winters behind [more...]

Date: 2008-12-01 03:26:43

Bad job news at the Jones house

In almost six years of blogging I’ve never mentioned where my wife or I work, because I like to keep blogging and work separate ... restaurants, banks, and car makers and their dealerships. The company’s history page proclaims ... . Just like that. What’s amazing is how quickly things went from bad to worse. Like a lot [more...]

Date: 2009-01-10 04:17:16

Предсказания Кюнстлера на 2009 - США, Нефть, Геополитика, Путин

Спонсор месяца - #1 RX pharmacy affiliate program!Сайт дня (как попасть) - http://www.business-magazine.ru/There are two realities "out there" now competing for verification among those who think about national affairs and make things happen. The dominant one (let's call it the Status Quo) [more...]

Date: 2009-01-01 07:59:00

30 Ways to Save a Dollar a Day

This is a list of ways to save about $30 a month or a dollar a day. If you can do a couple of these, then you can save even more, like 60 or 90 ... the difference goes into savings 17. Call credit card companies to get a lower interest rate – calculate ... ) 6. Cut back on a bad habit – reduce smoking by ½ pack, buy fewer drinks when going out, cut the [more...]

Date: 2008-12-29 17:18:25

Good Bye to 2008 - A Look Back At a Crazy Year for the Economy

2008 is finally at an end, and as the economy totters forward, we can say we survived a tumultuous year. That is an understatement ... was near Chicago mortgage refinance imploding. As overseas market started to tank based on bad news ... . In hindsight, the fan was just starting to spin last year. It was this year that the bad decisions [more...]

Date: 2009-01-01 02:08:08

How do we save the US Auto Industry?

Having decided to wean myself off of cable news, I turned tonight to CSpan and was immediately pulled in by the sight of politicians talking about ... the US Auto Industry. The image is inescapable: Pennsylvania, Ohio and Michigan linking arms along ... dollars to the US auto industry is what they want; and here, according to the Putnam County [more...]

Date: 2008-11-21 01:58:00

Sunday, and the Christmas Letter

We’ve had a good day, but very quiet, for the most part. We didn’t try to go to church. We slept late, and went to Kroger around 11. We picked up hamburgers on the way home, and had a good lunch after we unloaded groceries. After much debate, Alesia won the coin toss about what movie to see and we saw Quantum of Solace, the new James Bond movie [more...]

Date: 2008-12-15 03:24:22

Reader Mailbag #29

Each Monday, The Simple Dollar opens up the reader mailbags and answers ten to twenty simple questions offered up by the readers on personal finance ... (k) with $12K (I am 29), and a credit card debt of $1600 which I will be finished paying in October ... (k) contributions. Having $12K at age 29 isn’t a bad start, but I’d make sure I was contributing at [more...]

Date: 2008-09-22 14:00:00

What Is My Credit Score and How Is My FICO Calculated?

If you’re like most people out there, there’s inevitably going to come some point in your life when you’ll need to apply for credit and seek out ... prospects like mortgage loans either - even routine applications for things like credit cards, checking accounts, auto loans, and even new jobs are undergoing greater credit worthiness scrutiny. Both [more...]

Date: 2008-07-08 03:19:44

Memories Of A BMW 732i [Jalopnik Reality Garage]

Seeing the BMW 735i parked down on the street this morning we were reminded of one of our past rides, a European-spec E23 BMW 732i ... idea since I had just totaled my Buick LeSabre and had the insurance cash burning a hole in my pocket ... for me. A big car that was cheap, unique, and relatively fun to drive? It ticked all the boxes [more...]

Date: 2008-10-17 21:20:00

Dealing with a bad attitude

Dealing with a bad attitude Posted in Better Living by Seth Barnes on 1/7/2009 WARNING - If you're hoping for inspiration, ... that my credit card company hadn't received the online payment I'd sent from my bank on December 19. Instead, they'd charged me a finance charge. So I called the credit card people. What's annoying [more...]

Date: 2009-01-07 14:13:06

Bailout fails. World goes on.

Financial institutions must be allowed to fail, and the market must be allowed to return to equilibrium ... on Main Street, where rising prices and the economic slowdown outweigh credit concerns, according ... conditions has yet to detect anything that would indicate severe credit stress among its members [more...]

Date: 2008-09-30 12:24:24

Those Order Takers Are Now Gone In California

The Ventura County Star reports from California. “According to Bill Watkins, executive director of the UC Santa Barbara Economic Forecast Project…a foreclosed home in California sells for $200,000 less than a traditional home. Until foreclosures are worked through the market, ‘we don’t think the real estate market can clean itself up, [more...]

Date: 2008-12-27 18:47:48

Obama's Speech

Available in full after the jump ... Just a graph in, by the way, he salutes Hillary Rodham Clinton. Remarks of Senator Barack Obama “The American Promise” Democratic Convention Thursday, August 28th, 2008 Denver, Colorado As Prepared for Delivery To Chairman Dean and my great friend Dick Durbin; [more...]

Date: 2008-08-29 03:19:20

Can’t get approved for a credit card?

Every day life can be tough without a credit card. It seems that everywhere today, there is the need to have a credit card ... ? For people with bad credit, it can often feel like you’re doomed. But there is help for those who cannot ... . You need one to reserve a hotel room. rent a car, or get a membership at the video rental store [more...]

Date: 2008-12-04 15:10:20

Forecast for 2009

Introduction       There are two realities "out there" now competing for verification among those who think about national affairs and make things happen. The dominant one (let's call it the Status Quo) is that our problems of finance and economy will self-correct and allow the project of a "consumer" economy to resume in "growth" mode [more...]

Date: 2008-12-29 03:33:57

Insurance Companies Are Not All Equal

by Ethan Kalvin You can get Insurance Coverage on just about anything you can think of ... on age, gender, total annual miles, credit history and driving record. There are also other ... to be safe in case something bad happens. In case of emergencies, people need for their possessions [more...]

Date: 2009-01-17 21:39:04

Obama’s Full Speech

This is it folks… +++++ To Chairman Dean and my great friend Dick Durbin; and to all my fellow citizens of this great nation; With profound gratitude and great humility, I accept your nomination for the presidency of the United States. Let me express my thanks to the historic slate of candidates who accompanied me on this journey, [more...]

Date: 2008-08-29 01:49:29

Bill Clinton Campaigning for Obama in Orlando Today

NOTE FROM PAM: I added some video clips below the fold. Former President Bill Clinton spoke at a Obama for President rally in Orlando, Florida today ... who are not at this rally. We have to elect a president who will rebuild the American dream, repair a badly ... , incomes declining, heathcare costs of doubled, college costs up 75 percent -- credit card [more...]

Date: 2008-10-02 01:31:07

THE FINTAG NEWSLETTER @ 09 December 2008

FINTAG COMMENT Confidence. There are a lot of unconfident people around. Existing frameworks, values and modus operandi are under attack ... and compared to other company statistics. Credit Rating Agencies did the same and rubber stamped ... to be nothing but ratings-for-hire, analysts, bankers, creditors and traders have turned to Credit [more...]

Date: 2008-12-09 10:34:00

Bailout Or Rearranging Deckchairs? (Updated)

By Cernig They say the latest deal is a $700 billion bailout, which brings the total bill so far pretty darn close to a round trillion - but the guy who used to be the chief economist at the World Bank has said the total might be 2 trillion once everything is said and done. How honest is the administration being with voters, even now? [more...]

Date: 2008-09-21 00:03:55

Ctrl BG: A Shortcut to Financial News 10/3

I've decided to do my write up early this week- just in case something else happens right after I hit "publish ... when everyone realized that this credit crisis was not limited to the US. On Monday, Wachovia made a deal ... with). This is a time to take action before the effects of the credit crunch affects the rest of the economy [more...]

Date: 2008-10-04 06:03:33

PFBlogger Spotlight: Green Panda Treehouse

What color is US currency? It’s green. What’s one of the most content creatures on the planet? Well, one of them is a panda ... of it. I got a credit card in college and like many of my friends, I charged on it like crazy ... some of my friends (who would return the favor and use their credit card next time). I also thought [more...]

Date: 2008-08-07 16:28:03

There Is An Alternative To Capitalism

While the defenders of capitalism attempt to pose the solution to the crisis of their beloved capitalist system in terms of increasing Free Trade, opposing government regulations, transparency, social responsibility, but still promote the public bail out of private captial with no strings attached, [more...]

Date: 2008-11-24 09:04:00

Debt Rattle, November 18 2008: He'll Have To Go

John B. Trevor The Century Ahead 1921 Trevor family trip through western United States Ilargi: ... for the first time, somewhere in southern (?!) Ontario where Stoneleigh will sternly lecture the crowds ... to no more than an exceedingly bad soap opera. This charade is starting to seriously undermine [more...]

Date: 2008-11-18 19:44:54

[Off Topic] Not to Deflate You—Are we there yet?

Here's an NRO symposium on deflation -- an interesting set of analyses by various stripes of economic experts. Check them out ... College and author of New Deal or Raw Deal? (Simon & Schuster, 2008). NICOLE GELINAS The credit ... much new credit from getting to borrowers. The pipe poses two grave dangers, one if it stays clogged [more...]

Date: 2008-12-14 18:20:14

Improve Gas Mileage, Market Your Home, Plus Winners of the Million Visitors Giveaway!

Winners of The Million Visitors Giveaway Earlier, I was thinking of giving away $5,000 to the actual millionth visitor on my site, ... as one of my motivators for losing weight. No Credit Needed: I was a bit unhappy about this news — that gas stations may be curtailing the use of credit cards. Not sure if this is a trend though [more...]

Date: 2008-06-22 19:46:14

Hate.

For some jerk called “Vinny” who has a Hugh Jass white work truck with “Vinny’s” on the side of it ... in the space next to our car (which does belong to The House of Skeeve).  He had backed the truck ... not get into the passenger side of the car, because Vinny was parked too effin’ close.  Mike had to pull out so I could [more...]

Date: 2008-12-08 01:40:53

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