octobre 2010
189 billets
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Sinkhole →
Asset values that already inflated by the massive credit binge during more optimistic times. These, like Japan, are likely compressing in a very long term move. The aggregate net worth of $40, $50 maybe $60 trillion, could be compressing to $30, $40 and $50 trillion respectively. Or, like Japan, lower, and over a longer period. So, one trillion of QE has no bearing on anything (unless you are the...
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MR PINK, MR WHITE AND BOTTOM →
In the wake of the civilian deaths there was outrage not just in Afghanistan but in Britain and America. The American forces were portrayed as disastrously incompetent.
But the truth behind the massacre reveals something completely different.
The American forces are not incompetent. They are being used as weapons in a war that they don’t understand.
The investigation makes it clear that...
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Il demande une «inflation» à Rachida Dati, il se... →
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A presidency heading for a fiscal train wreck →
Roubini:
The risk, however, is that something on the fiscal side will snap, and the bond vigilantes will wake up. The trigger could be a debt rollover crisis in a major US state government, or perhaps even the realisation that congressional gridlock means bipartisan solutions to our medium-term fiscal crisis is mission impossible. Only then will our politicians suddenly remember that, on top of...
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The week the world stepped through the looking... →
Maybe it’s because it’s nearly Halloween.
But it does seem like it’s been a more peculiar week in financial news than most.
You might say, it’s almost like the mainstream financial universe stepped through some sort of looking glass into the realms of previously taboo topics.
Last week, for example, it was definitely not okay to be rampaging that the Fed was a Ponzi or that the entire precious...
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Achat de la Bourse de Montréal par Toronto: qui... →
TMX’s MX purchase has produced little growth
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Lire la vidéoThe Spill
A joint investigation by FRONTLINE and ProPublica into the trail of problems — deadly accidents, disastrous spills, countless safety violations — which long troubled the oil giant, BP. Could the disaster in the Gulf of Mexico have been prevented?
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Run Turkey Run: Bill Gross →
The Fed’s announcement will likely signify the end of a great 30-year bull market in bonds and the necessity for bond managers and, yes, equity managers to adjust to a new environment.
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The Humiliation of Britain →
L’humiliation de la Grande-Bretagne
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Wall Street Proprietary Trading Under Cover:... →
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Is What's Good for Corporate America Still Good... →
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It isn't easy being green →
If the renminbi ever becomes a major trading or reserve currency, it is going to take a long time for this to happen and will require a radical transformation of the Chinese economy and the role of the government. This may seem like a surprising statement. After all nearly every week we see reports about a new breakthrough for the renminbi, and almost every day someone important somewhere...
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600 entreprises paient une taxe à la mafia à... →
À la fin des années 1990, avant de devenir le grand patron de la police fédérale, Zaccardelli avait été nommé sous-commissaire responsable de la «guerre au crime organisé». Nomination qui lui valut une invitation au bureau du premier ministre Jean Chrétien. «Le policier se rendit au rendez-vous avec l’enthousiasme d’un boy-scout, confiant que le premier ministre allait lui donner des...
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Death Throes of the Monolines →
On Monday, Standard & Poor’s downgraded Assured Guaranty Corp. and Assured Guaranty Municipal Corp. from AAA to AA+. Assured, which specialises in wrapping securitisations and US municipal debt, was the last monoline to hold a triple-A, and indeed appears to be one of the last bond insurers altogether. As Structured Finance News notes, Assured commands 100 per cent of the bond insurance...
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Big Business Met With Radical Right To Plot 2010... →
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PKP, Harper et Force Québec →
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2012: How Sarah Barracuda Becomes President →
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Robert Reich: After the Midterms: Why Democrats... →
robertreich:
If Republicans succeed in taking over the House and come even close to gaining a majority in the Senate, expect calls for the President to “move to the center.” These will come not only from Republicans but also from conservative Democrats, other prominent Dems who have been defeated, Fox…
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Lire la vidéoColbert on Taxes
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Le Columbo de l'art →
En 1991, quand il est enquêteur à la moralité et lutte contre les bars clandestins, on le voit à la télé déclarer que la mafia contrôle la vie politique à Saint-Léonard. Le maire Frank Zampino n’a pas apprécié. Lacoursière refuse de présenter ses excuses - un cadre le fera.
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SGX: first Australia, then — the world? →
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Lire la vidéoUnemployment Benefits: The 99ers
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The Vainglory of Economists, and Other Campaign... →
Policy economists are like generals. They go to school and train from an early age to fight a great battle – not at service academies, but at the Massachusetts Institute of Technology, Harvard, Yale, Princeton, Chicago, the University of California at Berkeley. Most of today’s big shots met in the 1970s at MIT and Harvard, studying under people like Stanley Fischer and Rudiger Dornbusch, Martin...
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The Real Danger to the Economy - Soros →
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The Anglo Revolutions →
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The Stephen Colbert of New Media →
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“It used to be that the rhetoric of privatisation was about choice. This was when...”
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What it feels like to want to kill yourself -... →
We may very well be the only species for which negative social-evaluative appraisals can lead to shame-induced suicide. It’s not without controversy, but the most convincing data from studies with nonhuman animals suggest very strongly that we are the only species on the face of the earth able to take another organism’s perspective in judging the self’s attributes. This is owed to an evolutionary...
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What it feels like to want to kill yourself -... →
We may very well be the only species for which negative social-evaluative appraisals can lead to shame-induced suicide. It’s not without controversy, but the most convincing data from studies with nonhuman animals suggest very strongly that we are the only species on the face of the earth able to take another organism’s perspective in judging the self’s attributes. This is owed to an evolutionary...
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Geithner's poor imitation of Keynes →
Keynes proposed that any country racking up a large trade deficit (equating to more than half of its bancor overdraft allowance) would be charged interest on its account. It would also be obliged to reduce the value of its currency and to prevent the export of capital. But - and this was the key to his system - he insisted that the nations with a trade surplus would be subject to similar...
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Le multiculturalisme, en recul dans l’élite... →
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Capital controls: new front in the ‘currency wars’ →
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Force Québec: de l'eau dans le gaz →
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Coppola on Apocalypse Now →
It was, among other things, a California war. Usually war films in the past were all these characters from the East. And there was always a guy from Brooklyn. But Apocalypse Now was a California war. They were surfers and they were listening to the Doors. That was very different. As I followed what seemed to be the trail, I began to make the film in more of a surreal, drug-induced sensibility—not...
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Why do all pop songs sound the same? Probably... →
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A colder, crueller country – for no gain →
When was the last time Britain’s public spending was slashed by more than 20 per cent? Not in my mother’s lifetime. Not even in my grandmother’s lifetime. No, it was in 1918, when a Conservative-Liberal coalition said the best response to a global economic crisis was to rapidly pay off this country’s debts. The result? Unemployment soared from 6 per cent to 19 per cent, and...
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Tea Party à la française - NYRBooks →
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