» Posted by Martin Weil on September 30, 2008

Cassandra nails it in "Pregnant Thoughts." Just one of many "money quotes"

America borrowed from the future to fund the present in all ways, whether via fiscal policy, monetary policy, people's pension funds, corporate balance sheets, or household asset values and expenditures. But now they [the American people] are incensed when the bill has arrived. They have no recollection, nor amazingly can they make the connection between the prior faux-prosperity and the current crisis.

» Posted by Martin Weil on September 10, 2008

Photo from The September 11 Digital Archive

» Posted by Martin Weil on September 10, 2008

The price of credit default swaps on five-year US government debt rose to a record 17.5 basis points...

... the price suggests the market believes the US government is more likely to default on its obligations than some other industrialised countries. "The USA is now 'riskier' than Norway, Germany, Netherlands, Sweden, Finland, Austria, France, Denmark, Quebec and Japan," said Tim Backshall, chief strategist at Credit Derivatives Research.

From Infectious Greed

» Posted by Martin Weil on September 04, 2008

From The Big Picture