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POPSIs that so? This kind of business gives post modernism bad name, on top of really demonstrating poor taste in the usage of the concept Art.
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POPSWelfare: The 'Shameless' Generation of Benefit Addicts Almost five million adults live in jobless homes The Crompton family, nicknamed 'Britain's Biggest Freeloaders' by their neighbours in Hull, live in a seven-bed house and get 33,000 a year. Harry Crompton, 51, has been out of work for 15 years and his wife Tracey, 41, has never had a job. Yet thanks to the generosity of the welfare state they receive 32,656 a year. The Cromptons were provided with two semis knocked together by the council at a cost of 20,000. The couple's only income from paid work is 20 a week from eldest son Michael, who has a factory job. They receive a further 628 a week in income support, disability allowance, carer's allowance, child tax credit, plus 120 a week rent on their seven-bedroom house. A working parent would have to earn 46,500 a year to match their income.
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POPS12 Steps to Economic Meltdown - Nouriel Roubini
Seventh, the banks losses on their portfolio of leveraged loans are already large and growing. The ability of financial institutions to syndicate and securitize their leveraged loans - a good chunk of which were issued to finance very risky and reckless LBOs - is now at serious risk. Eighth, once a severe recession is underway a massive wave of corporate defaults will take place. Ninth, the "shadow banking system" or more precisely the "shadow financial system" (as it is composed by non-bank financial institutions) will soon get into serious trouble. This shadow financial system is composed of financial institutions that - like banks - borrow short and in liquid forms and lend or invest long in more illiquid assets. Tenth, stock markets in the US and abroad will start pricing a severe US recession Eleventh, the worsening credit crunch will lead to a dry-up of liquidity in a variety of financial markets, including otherwise very liquid derivatives markets.
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POPSDeficit forces California to issue IOUs Is it possible that California now has more "takers" than "givers"? Is this the future of other states that have excessive socialist programs? Is this the future of America as we become more socialistic?
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POPSMadoff’s conviction is no example of American justice More. Bernie should really become is a pin up criminal for incompetence, who was allowed to escape for decades by incompetent regulation: both of the traditional black letter legal type and self-regulation. Bernie fooled all the checks and balances and became head of NADAQ. His auditing firm was a small one and a half person operation in suburban New York: the auditing groups and other regulators let that one go
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POPSGerman credit crunch deepens It was only a month ago that the German business confidence index rose by a record amount. Makes one wonder about the other sources of optimism about green shoots. See clip: http://openintelligence.amplify.com/2009/05/19/german-investor-confidence-at-3-year-high/
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POPS‘New’ US shopper to emerge from crisis What should we call this new type of buyer, who is no longer defined by his desire and ability to consume? Does everybody become a trader /dealer in their own right buying and selling goods and services on the basis of need, rather than greed? Survivors? Those who don't survive will not be there anyway. Note the sources of the 'new consumer' idea. It is very main-stream, now . We were predicting this trend in 2002 in our report entitled, Consumers: Going for Broke, which also as it happens predicted the credit crunch and the current sharp reversal in economic fortunes.
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POPSBe Careful What You Protest For Unable to remove the guarantees and unwilling to properly charge for them because the banks remain too weak, they will try to limit the risks through more intrusive regulation. The results should be clear enough: lower bank profits, less capital generated, less credit created, lower economic growth and more bureaucratic control over the banks and the wider economy. The protesters should be careful what they wish for.
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POPSJames K. Galbraith Talks to TYT About the Bailouts Some real talk about the economic mess. BTW, Republicans, stop blaming the damn victims. The bankers are not your friends. They are boning you and everybody else with your own tax dollars. And Obama, ditch the neoliberal economic policies, they will not do anyone, any good, except the Wall Street robber barons, of course!
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