The Plutonomy—AI Edition—and the Coming Crisis
Driven by speculative finance, stagnant wages, and AI hype, today’s tech-heavy economy mirrors the fragile plutonomy that collapsed into the Great Crash of 1929.
Latest news (Page 114)
Rogue Trader Causes Oil Spike
From The Financial Times: 'Rogue broker' blamed for oil spike By Javier Blas and Izabella Kaminska in London
If You Liked CDOs, You'll Love CLOs...
From the Financial Times: Night of zombie company looms as debt burden remains large By Anousha Sakoui Financial Times Published:
7 Banks Fail Today: 52 For the Year So Far
Seven banks were taken over by the FDIC on Thursday, six of them based in Illinois. A total of 52
Roubini on Details in the Payrolls Data
U.S. Job Report Suggests that Green Shoots are Mostly Yellow Weeds Nouriel Roubini's Global Economonitor Nouriel Roubini
Goodbye, Green Shoots
The FT's John Authers (video clip) on market reaction to today's US payrolls data, which were
Male Worker Jobless Rate In June: 10.6 Percent
A summary of today's BLS report from Bob Feldman: The official "seasonally adjusted" unemployment rate for
Delasantellis on Realtors' Latest Lobby Effort
From his Asia Times column: Cheating still beats real work By Julian Delasantellis Asia Times July 2d, 2009 A colleague
California to Issue IOUs at Discount?
The creator of the fine website Across the Curve had the following to say about the situation on California tonight:
Banker: "This Is a Phenomenal Environment"
One more from today's FT: Radical shift in the banking power base By Patrick Jenkins and Jane Croft
Behind Banks' Credit Card Moves
Another FT article goes deeper into the increasing danger credit cards are putting banks into, and what they're
Citi Raises Rates on Cardholders
This is before new regulations come into effect that prevent them from doing this very thing come into effect in