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US President Barack Obama’s Nobel Peace Prize Speech

December 11, 2009 Political Science, Read, World No Comments

Your Majesties, Your Royal Highnesses, distinguished members of the Norwegian Nobel Committee, citizens of America, and citizens of the world:

I receive this honor with deep gratitude and great humility. It is an award that speaks to our highest aspirations — that for all the cruelty and hardship of our world, we are not mere prisoners of fate. Our actions matter, and can bend history in the direction of justice. … Continue Reading

Obama’s Big Sellout by Matt Taibbi

Rolling Stone writer and the bane of Wall Street is at it again. Another great article (Issue 1093 — December 10, 2009) by Matt Taibbi.

Copy + Paste:

Obama’s Big Sellout

The president has packed his economic team with Wall Street insiders intent on turning the bailout into an all-out giveaway.

Barack Obama ran for president as a man of the people, standing up to Wall Street as the global economy melted down in that fateful fall of 2008. He pushed a tax plan to soak the rich, ripped NAFTA for hurting the middle class and tore into John McCain for supporting a bankruptcy bill that sided with wealthy bankers “at the expense of hardworking Americans.” Obama may not have run to the left of Samuel Gompers or Cesar Chavez, but it’s not like you saw him on the campaign trail flanked by bankers from Citigroup and Goldman Sachs. What inspired supporters who pushed him to his historic win was the sense that a genuine outsider was finally breaking into an exclusive club, that walls were being torn down, that things were, for lack of a better or more specific term, changing.

Then he got elected.

What’s taken place in the year since Obama won the presidency has turned out to be one of the most dramatic political about-faces in our history. Elected in the midst of a crushing economic crisis brought on by a decade of orgiastic deregulation and unchecked greed, Obama had a clear mandate to rein in Wall Street and remake the entire structure of the American economy. What he did instead was ship even his most marginally progressive campaign advisers off to various bureaucratic Siberias, while packing the key economic positions in his White House with the very people who caused the crisis in the first place. This new team of bubble-fattened ex-bankers and laissez-faire intellectuals then proceeded to sell us all out, instituting a massive, trickle-up bailout and systematically gutting regulatory reform from the inside.

… Continue Reading

What it means to have a weak U.S. Dollar

December 7, 2009 Business, Economy No Comments

Have you ever wondered what it means when our currency depreciates in value? … No?…. Too bad.

Anyways, here’s a cool graphic from the New York Times explaining the consequences of a falling dollar. 

(Click picture to get edumacated)

Link:
Winners and Losers as the Dollar Falls, by Bill Marsh, New York Times, 12/6/2009.

Bailout Ben iPhone Game.

November 27, 2009 Business, Economy No Comments

this application almost makes me want to get an iPhone… wait, i said almost.

another case of art imitating life.

… Continue Reading

Harvard Poker Pro Says Texas Hold ‘Em Can Teach Traders to Fold

Copy + Paste from Bloomberg (my highlights in blue):

Nov. 20 (Bloomberg) — Brandon Adams, who teaches behavioral finance at Harvard University’s Department of Economics, says some of the best candidates for Wall Street trading jobs are the professional card players at FullTiltPoker.com and similar Web sites.

“They’ve essentially been the survivors in the system, a very difficult system where 95 percent of people lose money,” the 30-year-old Adams, who plays at the site, said in a telephone interview. “Anyone smart enough and disciplined enough to survive that system is probably going to do very well in the trading world.”

An increasing number of hedge funds and brokerages are scrutinizing professional poker to find talent and analytical tools, according to financial recruiters including Options Group, a New York-based executive-search company. Susquehanna International Group LLP, the Bala Cynwyd, Pennsylvania-based options and equity trading company, uses poker to teach strategic thinking. … Continue Reading

Who is paying taxes?

November 21, 2009 Business, Economy No Comments

i’m a sucker for cool and informative charts.

Link: Mint

3 $FAS Swing Trades

Haven’t done an equity trading post in a while. So, here is one instrument I’ve been playing with.

… Continue Reading

Up, up, and away!

November 17, 2009 Business, Economy No Comments

Cool cover on the current issue of The Economist. It reminds me of Astroboy.

Here’s a Copy+Paste of the article:

… Continue Reading

The Lloyd’s Prayer

November 12, 2009 Business No Comments

 

THE LLOYD’s Prayer

Our Chairman,
Who Art At Goldman,
Blankfein Be Thy Name.
The Rally’s Come. God’s Work Be Done
On Earth As There’s No Fear Of Correction.

Give Us This Day Our Daily Gains,
And Bankrupt Our Competitors
As You Taught Lehman and Bear Their Lessons.
And Bring Us Not Under Indictment.
For Thine Is The Treasury,
The House And The Senate
Forever and Ever.

Goldman.

HILARIOUS!!!

Link: Tom Gregory: Huffington Post

George Soros: China must be part of the New World Order

November 11, 2009 China, Economy No Comments

Interesting interview with George Soros.

I think this would be time because you really need to bring China into the creation of a new world order, a financial world order. They are kind of reluctant members of the IMF. They play along, but they don’t make much of a contribution because it’s not their institution. Their share is not commensurate … their voting rights are not commensurate to their weight, so I think you need a new world order that China has to be part of the process of creating it and they have to buy in. They have to own it the same way as, let’s say, the United States owns the Washington consensus, the current order, and I think this would be a more stable one where you would have co-ordinated policies. I think the makings of it are already there because the G20, in agreeing to peer reviews, effectively is moving in that direction.

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