On July 16, 2013, Goldman Sachs, the fifth largest US bank by assets announced its second quarter profits doubled the previous year to $1.93 billion. J. P. Morgan, the largest bank made $6.1 billion in…
Tag: economy
Big Banks Move Into Uranium Mining, Petroleum Products, Aluminum, Ownership and Operation Of Airports, Toll Roads, and Ports, and Electricity Top economists, financial experts and bankers say that the big banks are too large ……
Right now, the American people are like frogs in warm sequester water. For some, inundated with all the corporate media talk about out-of-control spending, the cuts to the deficit feel good right now….
Puts Fox In Charge of the Henhouse … Again The party line is that Obama’s new pick for SEC boss – Mary Jo White – will be tough on Wall Street. For example,…
“How do you solve a problem when you’re running a 10% fiscal budget deficit? You are not going to get growth without private sector credit demand. The government’s idea right now is that we’re going to export our way out of this, and when I asked a senior member of the Obama administration last week how are we going to grow exports if we will not allow nominal wage deflation? He said, “We’re going to kill the dollar.” Kyle Bass interview. Last week, amid growing rumors of a global currency war, the Fed’s balance sheet broke the $3 trillion-mark for the first time in history.
Despite 14 years of catastrophist predictions for Venezuela, oil wealth has been successfully turned to social purposes A supporter of the Venezuelan president holds a picture of him, as he attends a mass to…
In November the largest chunk of new jobs came from retail and wholesale trade. Businesses gearing up for Christmas sales added 65,700 jobs or 45% of November’s 146,000 jobs gain. With December sales a disappointment,…
Financial repression is an important idea in the modern policy context. It denotes an environment where interest rates are artifically low with the intention of helping one or more sectors of the economy, at…
Keith Fitz-Gerald writes: Dallas Federal Reserve President Richard Fisher recently offered a stunning assessment about our policy making central bankers down in Washington. They’re winging it. In a talk before a Harvard Club audience, Fisher…
For those who feel that 13 is an unlucky number, the belief was vindicated on September 13, considering that a new liquidity injection – a massive infusion of freshly printed and essentially worthless money…