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 […]
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 […]
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, […]
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, […]
Riots in London, fear in France and Italy, meltdown in Greece and downgrades in Washington. Occupy movements in every major city. These are worrying times for anyone with half a brain and terrifying for anyone with a whole one. Give or take the occasional riot, we in Britain have tended to think we’re relatively safe from […]
by Mitch Feierstein about 9 years 10 months ago
One blog in and you probably already think I’m a pessimist. But I’m not. I’m truly not. Today, I bring you good news. That good news is contained in the chart below: a list of all the major commodities whose prices have fallen by more than 10% over the last twelve months.