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Bloom of Doom VIII: US Figures Stronger than Feared

If you think the title is a contradiction, well, not more so than the idea that debt or subsidies could increase wealth. Where truth can’t win by argument it needs to do so by stealth (that almost rhymes). The President of the United States has published a report on the state of the economy which proves how uneconomical the state has become. From that report you can glean two things, the bad and the ugly: the US economy has greatly deteriorated further and it seems beyond the point of no return.
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Economic Fallacy III: Looming Deflation?

There is a wide-spread fear, not the least among leading Fed staff and many economic pundits, that we are in a period of deflation, not inflation, or, when it comes to testifying in Congress, we are only not in a period of deflation because the Fed, unlike 1929 and the years following, actively prevented it by (re)inflating the money supply, stimulating credit etc.

However, they say, things haven’t yet worked out so well that the threat of deflation has already been banned successfully. But was there ever any threat? Read more…

Bloom of Doom II: Of Mortgage Brokers, ARMs, Attrition and Marathons

2010-01-28 5 comments

When first I started looking at dying mortgage banking companies back in 2007 (the time I began looking at the brewing crisis seriously) I stumbled upon the “implode-O-meter” which had begun tracking this new phenomenon in, I believe, 2006. Casualties were then in the two digit range. Soon it became three digits and ever since it has been “good going“, however, the pace slowed considerably in the second half of 2009 if I recall that correctly only to pick up recently. I remember the figures 372, then 373, then 374 to have had a rather long life span.

However, looking today we’re at 378, some jump at last. (Feb. 22nd 2010: 381) Read more…

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