China’s own version of ‘The Big Short’

Posted on February 3, 2016 by Deadly Clear

Following the Wall Street bank stocks and the Indices is like watching an airliner circle the globe dumping gas before it attempts a crash landing.

Justice League

Marketwatch:

When Hollywood brought “The Big Short” to the big screen, author Michael Lewis was as surprised as anyone. A film about debt going bad? Seriously? But in filmmaking, as with investing, timing is everything. What makes the movie so timely is its role as primer for what’s afoot in China.

There’s little about China in Lewis’s 2010 bestseller. And, frankly, the Brad Pitt-starring screen version can feel dated given the cacophony of world events since Wall Street’s 2008 drama. That is, until you consider the $23 billion dilemma now facing Beijing, and, by extension, the hedge-fund dynamics Lewis chronicled.

This column has examined China’s $28 trillion problem, which relates to its post-Lehman Brothers credit explosion. A more immediate one is the roughly $23 billion of offshore debt rated just one small step away from junk by major credit-rating companies. The second-biggest economy has a devilish assortment of so-called fallen…

View original post 171 more words

Fix America’s Rigged Justice System

Posted on February 3, 2016 by Deadly Clear

Published on Feb 3, 2016
Senator Elizabeth Warren’s remarks on the Senate floor on February 3, 2016.

Thank you John Reed for posting this on Facebook.

We have one set of laws on the books, but there are two legal systems: One for the rich and powerful, and one for everyone else. It’s not equal justice when a kid gets thrown in jail for stealing a car, while a CEO gets a huge raise when his company steals billions. Want to see the rigged game in action? Tomorrow, the House will be voting on a GOP bill that would make it much harder to investigate and prosecute bank fraud. The American people remember who broke our economy & who made out like bandits – and they didn’t send us here to help the bandits. To anyone in Congress who thinks they can simply talk tough on crime and then vote to make it even harder to crack down on corporate criminals, hear this: I promise you – I promise you – the American people are watching.

Chicago Teachers Union targets Bank of America as contract battle continues

Posted on February 3, 2016 by Deadly Clear

Wake up Chicago – pension deficits are likely never going to be recovered. We are headed for a crash – note the current rocky manipulated stock market flying like a distressed airplane trying to unload gas before a crash landing…BofA at $13.03 today – lower than the rougher days in 2009 when it started a dive in March 2009 at $13.48 and plunged to $4.00.

We know it’s rigged. We know there are serious pension fund deficits in nearly every state that will never be recovered and we know there are delusional government employees (judges included) that think they are protecting America from a total collapse by allowing banks to foreclose in order to keep the delusional liquidity rolling.

Welcome to the world with the rest of us that lost their retirement savings and investments in 2008. We’re a larger group and we can show you how to prepare and survive.

Justice League

WGN TV:

CHICAGO — The Chicago Teachers Union closes accounts at the main Bank of America in the Loop on Wednesday. The union claims it’s an institution that’s adding to the budget crisis.

This is the latest move as the union and CPS battle over a new contract.

The union had more than $700,000 in the Bank of America at 135 S. LaSalle. It’s protesting against the bank’s so-called toxic interest rate swap deals with CPS.

View original post