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The Slow Collapse of Civil Liberties

by Mitch Feierstein about 7 years 6 months ago

It is an extraordinary but true fact that democracy is on the retreat across the ‘free’ world. Italy has a government boasting not one single elected official. The current regime was foisted on the Italian people not by national election but by the will of Angela Merkel and Nicolas Sarkozy. In Greece, the same thing, […]

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Dangerous Driving

by Mitch Feierstein about 7 years 6 months ago

Deep in the bowels of the UK Treasury a plan is being hatched that would create a new crime of corporate negligence. The idea is to make it an offence for the leadership of any systemically important financial institution recklessly to endanger their firms and thereby the economy. That might sound harsh, but it would […]

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What People Do To Get By

by Mitch Feierstein about 7 years 6 months ago

These are sad times. Evidence is constantly accumulating of the damage being done to people’s pay checks by the recession. (And we are of course in that recession now, not waiting for one to come along.) The latest item in this long hall of infamy is this data, reported by the FT, that a million […]

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Best and Worst of 2011

by Mitch Feierstein about 7 years 6 months ago

Best currency: Swiss Franc Currently skyrocketing as a safe haven currency, while the eurozone starts to collapse around it. Best investment: gold Up 12% or so in 2011. That’s not the biggest rise of the year, but it’s up now for the eleventh year in succession, a total of over 550%. That’s one heck of […]

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Hans Visits Arizona

by Mitch Feierstein about 7 years 6 months ago

Here’s a joke somewhat adapted from something sent to me by one of my buddies in the market. It’s short, funny … and horribly true. A German guy – Hans? Klaus? – is in Arizona, where he visits a brothel. He calls one of the girls over to him, one of the less experienced ones. […]

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Celebrating Christmas on Planet Ponzi

by Mitch Feierstein about 7 years 7 months ago

On Planet Ponzi, nothing is more guaranteed to keep seasonal spirits high than a little crazy asset-price inflation. And if you want a little craziness, then why look further than the London property market? According to data filed at Companies House, London’s Ritz Hotel is currently being valued at around £625 million, or £4.6 million […]

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Ho, HO, HO Merry Christmas, Monsieur Chirac

by Mitch Feierstein about 7 years 7 months ago

In recent months, a French court has been trying the former President of France, Monsieur Chirac, for corruption. Chirac stood accused of breach of trust and misuse of public funds. Among other things, it was alleged that he created 28 phantom jobs for the benefit of friends and political allies. I don’t know what those […]

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Britain On The Brink

by Mitch Feierstein about 7 years 7 months ago

Sort of a good news, bad news week for David Cameron. (I’ll tell you about the pictures in a little while, but first things first.) The bad news for Cameron: no one in Europe likes you. No one wants to invite you to their party. They don’t care about your City of London. Nicolas Sarkozy […]

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Merry Christmas – 50% off

by Mitch Feierstein about 7 years 7 months ago

I went out in London on the Kings Road on Saturday – on a pre-Christmas shopping trip. And the place was empty. Not empty as in a-little-bit-quiet-for-Christmas but, well, just plain old-fashioned hello-is-there-anyone-there empty. I was so amazed by the quietness I had to rush back for my camera. These photos are the result. Bear […]

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Uncle Sam’s New Outreach Program

by Mitch Feierstein about 7 years 7 months ago

You know, it must be tough for US policymakers sometimes. I mean, when the thing you did yesterday was as dumb as all heck, how do you cap it? How could you possibly go one better, waste more money, burn more taxpayer cash? But we shouldn’t be such worryworts. The creative capacity of our policymakers […]

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