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Uh, Have You Checked Your Pockets?

by Mitch Feierstein about 5 years 8 months ago

We reported recently that Obama’s ex-Goldman buddy, Jon Corzine the head of MF Global, seemed to have lost some $700 million. Problem was, MF Global seemed to have lost $700 million of their clients’ money. Which is a little odd, given that it’s illegal not to keep client money separate from the firm’s own accounts. Illegal [...]

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You Heard It Here First

by Mitch Feierstein about 5 years 8 months ago

You’ll recall, I’m sure, that the newly formed M. Feierstein Ratings Agency broke the news that France has lost its AAA rating. Although we’re a newly formed agency and, if you want to be pedantic about it, we have only ever issued one rating, nevertheless we like to think of ourselves as a market leader. [...]

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A Pocketful of Nothing

by Mitch Feierstein about 5 years 9 months ago

Everyone in the entire world knows that European banks are in trouble … except, you’d think, the European banks themselves. After all, as this comment by Jonathan Weil of Bloomberg shows, stockmarkets value the average Euro bank at just 44% of book value. That is, the accounts of those European banks show a figure for [...]

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Soften Those Visa Bills – The Pelosi Way

by Mitch Feierstein about 5 years 9 months ago

Yeah, we know. Food’s expensive. Gas is expensive. You can’t even remember when you last had a wage rise. The job market is dire. But Planet Ponzi is all about taking positive action to help yourself, no matter what conditions are like. So here’s our formula for success – one pioneered by Nancy Pelosi, though [...]

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Swervyn Mervyn

by Mitch Feierstein about 5 years 9 months ago

Mervyn King of the Bank of England has one main job: to keep inflation at or close to 2%. This week – Tuesday – we’re going to see a new set of consumer price inflation figures and they’re not going to be anything like 2%. My bet is that we’re going to see inflation race [...]

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Breaking News: France Loses Its AAA Rating

by Mitch Feierstein about 5 years 9 months ago

OK, I’ll fess up. None of the ratings agencies has yet formally downgraded France. But the Planet Ponzi Ratings Agency (established Nov 4, 2011) has formally rated France at A+. Given that we’re a newish agency, we’ve struggled hard to find the positives. And, um, they’re there all right. France makes nice wine. It has [...]

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Visualization 3 Trillion Dollars – Italy’s Debt

by Mitch Feierstein about 5 years 9 months ago

3 Trillion Dollars

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Government Statistics Never Tell the Real Story

by Mitch Feierstein about 5 years 9 months ago

Planet Ponzi hopes everyone loves fudge. The “official” U-3 unemployment figures released monthly by the Bureau of Labor Statistics (BLS) are truly rich. See that red line on the chart? The bottom one? That’s the one the government would ideally like you to focus on, but if they can they’ll keep you focused on U3, [...]

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That Old Sweet Goldman Magic

by Mitch Feierstein about 5 years 9 months ago

Ah, don’t you just love traditions? Hollowing out a pumpkin for halloween. Sitting down to turkey for Thanksgiving. Seeing family and friends around the winter holiday season. And Goldman’s the same. It’s a traditional sort. Once it’s got into a habit – excessive leverage, taking huge risks and disguising them, helping to bankrupt Western capitalism, [...]

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