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Over the last 30 years, the capital markets have been restructured through the tenets of modern finance in its various forms, which together have gained six Nobel Prizes (Modigliani, Sharpe, Markowitz, Miller, Merton, Scholes) and might have generated a couple more (Fama and Black.) This has been enormously profitable for the financial services sector, which has doubled its share of U.S. economic output. As we are only now coming to see, it has proved pretty well disastrous for the global economy as a whole.
The most fundamental error of the modern financial edifice was its assumption of randomness in market movements, without a true understanding of the conditions necessary for randomness to hold. The laws of probability and the idea of randomness were generated by the 17th century French mathematician Blaise Pascal, who used them to help in winning card games, roulette and other activities in which tiny physical variations cause a discrete change in results. Since tiny physical variations are themselves unpredictable, their results are truly random.
New research has found that a whopping 11 million Brits are thinking of taking a job overseas within the next two years - a significant dent in the population - and a fifth of those would choose a new life down under... Britain is experiencing the greatest exodus of its own nationals in recent history while immigration is at unprecedented levels, new figures show. In 2007, 207,000 British citizens - one every three minutes - left the country and currency specialist Foreign Currency Direct has revealed that one in four working Brits are now looking to leave the country for sunnier climes and better job opportunities.
When she was not cracking down on white-collar miscreants for securities violations, enforcement attorney No. 2 at the Securities and Exchange Commission just loved trading stocks. Two or three times a day, she took breaks from her work to click up Yahoo Finance or surf the latest rants on those wacky investor message boards. "I do spend a lot of time, you know," she said. "It's my main hobby. It's my passion. I feel very proud of my knowledge. It's my way of keeping intellectually above what other people are doing."
My name is George C. Joseph. I am the sole owner of Sunshine Dodge-Isuzu, a family owned and operated business in Melbourne, Florida. My family bought and paid for this automobile franchise 35 years ago in 1974. I am the second generation to manage this business. We currently employ 50+ people and before the economic slowdown we employed over 70 local people. We are active in the community and the local chamber of commerce. We deal with several dozen local vendors on a day to day basis and many more during a month. All depend on our business for part of their livelihood.
I work every day the store is open, nine to ten hours a day. I know most of our customers and all our employees. Sunshine Dodge is my life. On Thursday, May 14, 2009 I was notified that my Dodge franchise, that we purchased, will be taken away from my family on June 9, 2009 without compensation and given to another dealer at no cost to them. My new vehicle inventory consists of 125 vehicles with a financed balance of 3 million dollars. This inventory becomes impossible to sell with no factory incentives beyond June 9, 2009. Without the Dodge franchise we can no longer sell a new Dodge as "new," nor will we be able to do any warranty service work. Additionally, my Dodge parts inventory, (approximately $300,000.) is virtually worthless without the ability to perform warranty service.
Until two months ago, Jeff Rubin was the audacious chief economist and chief strategist at CIBC World Markets, a high-profile pulpit from which he preached his unconventional and occasionally controversial views on economic matters for nearly two decades. His blunt talk and bold predictions didn't always win him friends, but his penchant for being right, more often than not, had won him international respect - and made him CIBC's most public star. But when he informed his employer that he had already written and was about to publish "Why Your World is About to Get a Whole Lot Smaller" - he says his bosses weren't happy, with either the surprise or the subject matter.
While some recent housing data has shown some signs that the housing market is close to a bottom, the purchase component of the weekly MBA data still is evidence that natural buyers are not responding to historically low interest rates. Today’s WSJ article highlights this as they report that 38% of foreclosure sales are in cash in the Phoenix area, 67% in Punta Gorda, FL and 39% in the Vegas area. The homebuyer that plans to live in the home still seems to be cautious
Discussion of the 50% Retracement Rule,
potential future price levels, time studies, key dates, Fibonacci, Gann, Astro numbers, Robert Rhea's Great Depression analysis.
It is rather unbearable for those of us who demand the Federal Reserve be taken over by our government only to see the powers of this conspiratorial and secretive concoction grow bigger and bigger at our expense! So, now they are talking in Congress, right on the heels of the ’secret but frank’ discussions at the Bilderberger gangster get-away in Greece and now, they will hand total power over our entire stockmarket and banking system to the world’s biggest crooks and con artists? Wow.I know, it is very discouraging. Both the Democratic Party leaders and the GOP leaders hang out with very rich people conspiring behind closed doors to figure out ways to strip the public in Europe, Asia, South America, Africa, North America and all the various islands and even the small continent of Australia and South Pole, all are under siege by these gangsters who are the real rulers. Sort of.
Every layoff comes with a story. The question is - is that story really interesting enough to create an entire blog revolving around an individual’s unemployment story? A resounding yes would be the answer coming from every unemployed person out there who has started a blog about being unemployed. Readers, on the other hand, will be the judge of these so-called “recession blogs” sprouting up as job loss rates increase each month. These days it seems like everyone is running to their computers to spout omff their knowledge since suddenly being an economist, sounding off about the dreary state of the economy, and the dire situation the unemployed face. The only problem is they don’t actually know what’s going to happen - but luckily for the readers, they’re invited to follow the journey as the recently laid off acquaint themselves with unemployent.
In April I hoped California, Please Send A Message! Today it happened. California voters soundly defeated Propositions 1A-1E in spite of teachers' unions and other misguided souls wasting millions of dollars in a last minute ad campaign to get Californians to tax themselves to death for the benefit of unions and other undeserving parties.
If you have any info that would help, please contact me at my private email address: bailout@michaelmoore.com
