Long Wave Theory Blog

Rosengren says Fed needs more power – Daily Business Update – The Boston Globe.

You’ve got to be fucking kidding me.

Stiglitz, Nobel Prize-Winning Economist, Says Federal Reserve System ‘Corrupt’.

Fed’s Fisher Calls for Accord to Break Up Big Firms (Update2) – Bloomberg.com.

What happens to house prices when the Fed stops buying MBS? | Analysis & Opinion | Reuters.

This mess is a long way from being over.  The ability (and stability) of people to earn $80K+ is not improving.  The sham mortgages from 1996-2006 artificially inflated our economy.  They are gone.  But so are the jobs.  So that makes this a very bad situaiton.

Auerback: Bernanke Fesses Up: America Has No ‘Insolvency’ Issue « naked capitalism.

Stunning piece, but yet again it will fall on deaf ears.  There is no free market capitalism, only the myth that we buy into.  The banksters are destroying this country and Ben Bernanke is at the helm.  We’re screwed.

How Long Before You Wake Up, Politicos? – The Market Ticker.

Auerback/Wray: Memo to Greece: Make War, Not Love, With Goldman Sachs « naked capitalism.

This is a brilliant post.  But will Greece, or anyone else for that matter, go through with it?  The criminality of GS is beyond reproach.

Guest Post: McCain Says Paulson and Bernanke Promised that the $700 Billion Troubled Asset Relief Program Would Focus on the Housing Meltdown « naked capitalism.

Of course Paulson did.  But will anyone go to jail?  Nope. Not in our lifetime.  The American public has no clue just how bad of a situation our government has put us in.  But Henry Paulson can just pray, because that makes it all better.

Gov. Rick Perry Sues The EPA Over Greenhouse Gas Regulation.

There is no hope for the American system until complete imbeciles like this are thrown out of office.