Renaissance man Nassim Taleb, renowned trader, professor, author, bullfighter, and wide receiver, has just strolled out a fantastically bold prediction: the Federal Reserve will be gone within 25 years. OH, SNAP! Because of the significant rise in debt, within 25 years “anything fragile will break,” Taleb said. That includes the Fed, he argued, because the [...]
Entries from September 30th, 2010
From The Class Warfare Department: Those Frigid Royals
September 24th, 2010 · 6 Comments · breaking news
British royals have the life, don’t they? They reside in lavish palaces, have their living expenses heavily subsidized by the taxpayers (to the tune of £38m a year), don’t seem to have to do much of anything other than have tea and play polo… not a bad deal by most appearances. But that doesn’t stop [...]
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Today’s Florida Digest: $BAC #fail, Another Ponzi Ahoy
September 23rd, 2010 · 5 Comments · fail
In most neighborhoods, banks aren’t bothering to foreclose on homes that are far in arrears, reluctant to pile more mortgage losses on their books. Unfortunately for one guy in South Florida, his lender, Bank of America, decided to get proactive about that mess. And they foreclosed on his house. And they sold it out from [...]
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Hey Hey Hey, Goodbye
September 21st, 2010 · 11 Comments · breaking news, win
And a great cheer went up all ’round the nation as economic adviser and alleged human Larry Summers announces his plans to step down. Speaking about his decision, Summers cited his great success in nearly ruining capitalism for a second time, and plans to return to Harvard at the end of the year. This is [...]
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NBER: Recession’s Over, FYI
September 20th, 2010 · 2 Comments · breaking news
Our long national nightmare is over, and has been since June 2009, so why are you still unemployed and pinching pennies, you slackers? The Business Cycle Dating Committee (I wouldn’t hit it) says June ’09 is when we hit a trough: The Business Cycle Dating Committee of the National Bureau of Economic Research met yesterday [...]
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