Tag Archives: collapse
Magnifying a Magnificent Debt Bubble
Last week it was discovered that, Kweku Adoboli, a 31-year-old equities trader for the Swiss bank UBS, had gone rogue. In a remarkable misadventure he managed to blow $2 billion of other people’s money at his employer’s expense. Apparently, UBS … Continue reading
On Driving the Economy into a Brick Wall
Last Friday the University of Michigan reported a consumer sentiment measurement of 54.9 for August…down from 63.7 in July. It has been quite a while since consumers have been so in the dumps. In fact, consumer disposition has not been … Continue reading
When the Whole Paper Edifice Collapses
There was massive carnage on Wall Street yesterday – again. No doubt, it makes for some exciting headlines. But here at the Economic Prism we won’t take your time to ponder the stock market’s precipitous decline. For, today, we’re more … Continue reading
When the Voters Get Whacked Again
Yesterday, at opening bell, stocks paused for a moment and then barfed all over themselves. After that, they did it again…and again. When it was over the DOW had plunged 512 points and Wall Street had fully freaked out. Is … Continue reading
