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    Quote of the Day
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    Tuesday
    Feb282017

    Devils Dictionary

    Thursday
    Dec182014

    Putin on the Fritz

    Sunday
    Oct052014

    Financial Crisis Revisited: The Old "Chicken with Its Head Cut Off" Routine

    Southpark Episode is shockingly accurate:

     


    Thursday
    Oct022014

    Slaughtering the Sacred Cow: Chapter 9 and Pensions 

    In Ruling on California Town’s Bankruptcy, Judge Challenges Sanctity of Pensions (NYT)


    related article:
    Nipping At the Sacred Cow: Major Cities Take On Pension Reform (Forbes)
    Wednesday
    Aug062014

    China: Is the Minsky Moment Upon Us?

    Monday
    Aug042014

    Janet Yellin: Betty Crocker Is My Hero

    http://usaponzi.com/cooking-the-books.html

     

    You can only  have your cake and eat it too for so long but with Betty Crocker as her role model Janet Yellin has concluded that if you have to cook the books it is better to have them fully baked than half baked.  Are we in the midst of the Frankenbubble?  Hard to say but with cash vs GAAP  the boys and girls at GAO are popping kishkas. They reckon we're basically bankrupt and it's only a matter of time. No biggie.  The Mother of All Cramdowns awaits and the pitchforks will be pointing in all directions.