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Finance

The Incompetent, the Corrupt and the Inept… or, Why We’re in Financial Crisis

March 21, 2009

My father forwarded this message to me via e-mail from a friend of his (not sure of the origin). I’m not taking sides here, but I think it’s interesting enough that it deserves examination. Would love to hear opinions on this before I share my own. Henry Markopolos (JP Edit: actually Harry Markopolous… but it’s [...]

45 Percent of Global Wealth Destroyed in Last 18 Months

March 13, 2009

This is a fascinating report from Megan Davies and Walden Siew of Reuter’s. Thanks to Jacques Snyman for sharing the link over on Facebook. 45 percent of world’s wealth destroyed: Blackstone CEO NEW YORK (Reuters) – Private equity company Blackstone Group LP (BX.N) CEO Stephen Schwarzman said on Tuesday that up to 45 percent of [...]

My, How History Repeats Itself

February 17, 2009

So what have we learned in two millennia? “The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on [...]

I Take Issue with Mark Cuban’s Open Source Funding Plan

February 11, 2009

Mark Cuban pitched an idea over on his blog in which he offers to fund business plans for people, but only if: People completely detail out their business plan in public. The businesses must show a profit within 90 days. You use the bank of Mark’s choice and allow him control over expenditures. Unfortunately, I [...]

California to Go Bankrupt in February

December 27, 2008

Leave it to the Brits to properly report on US news. According to the Independant, California will run out of money in February. The State of California will run out of money within two months, forcing Governor Arnold Schwarzenegger to start settling bills and paying employees by issuing “IOU” notes, his chief financial officer has [...]

533,000 US Jobs Lost in November 2008

December 6, 2008

Well, the US Bureau of Labor Statistics published their unemployment news yesterday, and it was nothing to smile about. Nonfarm payroll employment fell sharply (-533,000) in November, and the unemployment rate rose from 6.5 to 6.7 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. November’s drop in payroll employment [...]

Depressing Financial News Abounds – Are We Headed for a Depression?

November 20, 2008

I told you guys we were in a recession back in March, but now I fear we could move from a recession straight into a depression. Things could get really bad… Let’s examine shall we? In economics, a depression is a sustained, long downturn in one or more economies. It is more severe than a [...]

Lehman Execs Get $100 Million 3 Days Before Bankrupcy!

October 22, 2008

Ok. So, a good executive can be worth a lot of money to a company. I don’t have anything against a nice pay package, all things considered. But it is literally criminal for an Executive to receive a huge payout when they deliver negative results for a company. In my opinion, Exec pay should be [...]

Financial Crisis? Ha! Warren Buffett is Buying Stock NOW!

October 17, 2008

Wow! The New York Times hit a home run today with this editorial column from Warren Buffett. So, for all of you guys who are feeling scared and wondering what to do with the economy in the toilet right now, you might want to listen to one of the richest men ever to walk the [...]

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