Posts tagged: finance
Nice one from Abstruse Goose.
Fascinating giant chart showing relative amounts of money, by XKCD. Really puts some things in perspective.
Click image for massive full-resolution version.
Andrew Sullivan on what happens if Greece Leaves the Euro. (via cheatsheet)
It really struck me when I was listening to NPR’s initial reporting on this, because their report was essentially “WTF is Papandreou thinking?” Not once was there any mention or hint that maybe, just maybe, the people of Greece might deserve some say in this deal struck by “the 1%”
AMAZING.
You can tell this isn’t a Tea Party rally because there’s not one misspelling in that sign.
Succinct.
slow going - how the current recovery measures up
Interesting to see how the current ‘recovery’ from recession compares.
I’m sure you realize how much oil and gas influence our politics.
Crude oil imports and exports around the world, and the global shipping choke points
So many numbers!
You could stare at this chart for hours and still not figure out why oil prices have risen so much due to “unrest in Libya and the Suez Canal.”
The House Republican Steering Committee voted on Tuesday to name all committee chairman for the incoming Congress. Their choice to head the House Financial Services Committee, the committee in charge of overseeing the financial sector and the government’s implementation of new financial reforms, happens to be the member of Congress most reliant on contributions from the financial sector.
A look into whether Wall Street’s financiers provide societal value anywhere near approaching the value suggested by their salaries and bonuses.
Via BoingBoing
Interesting:
I don’t buy into the many conspiracy theories that continually seem to get resurrected, but I expect that this particular thesis, from Max Keiser, may very well have legs:
May 6th was an unequivocal act of domestic financial terrorism in America. A day that will live in infamy.
To scare the lawmakers, themselves large owners of the very banks and stocks that they are supposed to be regulating, a financial Weapon of Mass Destruction was put to their head and they acquiesced.
As the inventor of the continuous double-action, market-making technology (VST tech. US pat. no. 5950176) that is referenced 132 times by program trading and HFT patents since 1996, I can tell you that Goldman, JP Morgan and the gang simply pulled the “buys” from their computer trading programs and manufactured a crash. And when the coast was clear, and it was clear the politicians were not going to vote for anything that would break up the “too big to fail” banks; all the “sells” were pulled from the computers and the market roared back.
This is a Manchurian Candidate market where program trading bots start the ball rolling in whatever direction Wall St. wants the market to go — and then hundreds of thousands of day-traders watching Cramer on CNBC jump on the momentum bandwagon and commit the crime for the Wall St. financial terrorists, who then say,”It wasn’t us, it was “the market!”
Amped Content goes on to note that coincidentally the day after the crash, the “break up the too big to fail banks” amendment was soundly defeated by a 61 to 33 margin in Senate. And, a deal was struck to eliminate key provisions from the audit of the Federal Reserve bill. And, Goldman was meeting with the SEC to work out a settlement in their case against them.
I am always reluctant to put much stock into these nefarious “coincidences” — but I have to admit that Max’s theory here is quite intriguing …
Best summary of what happened with financial derivatives, EVAR!
