Bubble Horror Stories

"The 19th-century version of containers manufactured in China and bound for Wal-Mart consisted of produce from farmers in the American Midwest."
A distant mirror indeed.  Remember that bit about Northern Rock having been the first British bank failure in 141 years?
 
Many thanks to Doomer V for this dig.  Doom rarely finds American academic historians helpful in […]

It’s for real, but it may not be for long.
 
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Igor cries, "Neel, don’t go in the shower!"
Original post by John M.

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"In short, Keith Rupert Murdoch believes that infinite exponential growth of commerce, population, mineral extraction, energy production, and agricultural products have no barriers whatsoever …"
I thought that Doom friend Mike Folkerth’s description recalled the fevered imagination of Ray Kurzweil. What do Doomers think? (thanks Mike for the permission to re-post )
 
Outstanding Idiot of […]

Herbie Goes Bananas indeed! Telegraph’s Gordon Rayner tells the sad story [1] of how the world’s hedge funds piled into a naked short play on VW stock and, starting last Sunday afternoon, got given given their heads in their hands to play with to the tune of almost $40 billion. Here are a few […]

So many auctions in the country:
that mad roll of syllables blowing in
from all directions, the heart’s true music
plaintive and crude, …
 
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Subprime Blues
Billybob Stewart
 
 
A couple years ago I went to buy a home
I called up on an ad on the telephone
The Realtor told me now is the right time to buy
She said "Owning a home is […]

Full marks to Mrs. M for digging this amazing story [1] out of page C4 of our local paper.
A Dartmouth [Nova Scotia] real estate agent says Ottawa is forcing agents to play Big Brother by requiring them to get and store personal information about their clients.
"It’s a privacy issue more than anything. It has been […]

Today Bloomberg fired a missile [1] at what they (and we at Doom) see as yet another serious risk to American financial stability:
As chief of staff of the Federal Deposit Insurance Corp. from 1999 to 2002, Mark Jacobsen was responsible for a safety net that protects U.S. savers. He now runs a company that critics […]

Last Friday, on CBC’s The National, they had on Cuyahoga County Treasurer Jim Rokakis speaking to the ongoing crisis in North-East industrial Ohio. It’s now been 13 months since Admin managed to set up a re-post of a Bloomberg video and Jim gave us permission (and a nice e-mail note) to promote it on […]

Did you notice that AIG just got replaced on the Dow by Kraft Foods? [1] I don’t know if this is a hedonic adjustment or some demented application of the Birth/Death Model, but with a full-blown assault on short sellers also in progress, it’s getting to look more like a War against Price Discovery […]

In July 2006 I was horrified when reading the "Investors Corner" in the Arizona Republic, written by self-proclaimed housing "guru" Mark Bosworth.  I felt he promoted way too much leverage for small investors and posted on it at the time.
In September of 2006 I was appalled again by Bosworth’s  "Investor’s Corner" article.  Again he was […]