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Read the article: Debt Grows at Astonishing Rate Even in Texas; A Roadmap to Better; "It’s Your Money"; Infinite Amortization…
The authors are to be commended for their willingness to engage in extensive publicdiscussion of their paper. As ER has remarked , this paper is an archetypal of a class of nonsense which attracts axe grinders, obsessives and the willing to be confused Eli has learned over the years that all sorts of strange people write the same paper, very long, very hard to follow and very wrong. These papers and their defenders play the Gallileo card early and often
Here is a chart from the Telegraph article UK heads for triple dip as GDP contracts 0.3pc to consider. Double Dip? The blue rectangles are mine.
While pondering what Dragi knew or didn’t, let’s turn our focus on actual losses. Reuters reports Monte Paschi Shares Plunge on Derivative Loss Fears Shares in Banca Monte dei Paschi di Siena, Italy’s third-biggest lender, fell more than 5 percent for the second day in a row on Wednesday on worries of mounting losses on some financial derivative positions which it took in 2008 and 2009
While pondering what Dragi knew or didn’t, let’s turn our focus on actual losses. Reuters reports Monte Paschi Shares Plunge on Derivative Loss Fears Shares in Banca Monte dei Paschi di Siena, Italy’s third-biggest lender, fell more than 5 percent for the second day in a row on Wednesday on worries of mounting losses on some financial derivative positions which it took in 2008 and 2009
View original post here: Stop Imperialism – Episode 56
See more here: Yen Set for 11th Weekly Drop; Japan Records Largest Trade Deficit in History
Italian PM Under Fire; Italy’s 3rd Largest Bank Hid Derivative Losses: ECB Says "Matter for the Italian Authorities" (To Sweep Under the Rug) When Mario Draghi (now ECB President), had oversight of the Italian bank system as Bank of Italy Governor, the Italian bank Monte dei Paschi di Siena (Italy’s third largest bank) hid information on the derivatives transactions between 2006 and 2009. This information is just now out, and shares of the bank have plunged 22% in a few days
The results are in: Americans Back Obama’s Proposals to Address Gun Violence . Most Proposals Have Bipartisan Support Although Democrats show more support than Republicans for each proposal, majorities of both partisan groups favor seven of the nine proposals.
The report, written by Jay Solomon, echoes similar foreshadowing of the coming violent sectarian bloodbath now engulfing Syria, found in Pulitzer Prize-winning journalist Seymour Hersh’s New Yorker piece titled, " The Redireciton: Is the Administration’s new policy benefiting our enemies in the war on terrorism? " Solomon begins by stating: On a humid afternoon in late May, about 100 supporters of Syria’s largest exile opposition group, the National Salvation Front, gathered outside Damascus’s embassy here to protest Syrian President Bashar Assad’s rule. The participants shouted anti-Assad slogans and raised banners proclaiming: "Change the Regime Now." Later in the article, it would be revealed that the National Salvation Front (NSF) was in contact with the US State Department and that a Washington-based consulting firm in fact assisted the NSF in organizing the rally: In the weeks before the presidential election, the State Department’s Middle East Partnership Initiative, which promotes regional democracy, and NSF members met to talk about publicizing Syria’s lack of democracy and low voter turnout, participants say