The man that never saw it coming can't see it coming again. Please consider Bernanke Says ‘Not Obvious’ Asset Prices Misaligned . Federal Reserve Chairman Ben S. Bernanke said it’s “not obvious” that asset prices in the U.S. are out of line with underlying values after a 64 percent jump ... Read more

Earlier today, At the Economic Club of New York, Fed Chairman Ben Bernanke gave his Outlook for the Economy and Policy . His speech contains much self-serving claptrap about how Federal Reserve policy save the day. Nowhere has the Fed admitted its role in creating the mess. Bernanke thinks pr ... Read more

I received an Email this morning from Charles Goyette about the state of our banking system. One Day At The Bank Branch By Charles Goyette An old farmer walked into a rural branch of Washington Mutual to open a savings account. Being a conservative sort, he asked, “What happens if Washington Mutu ... Read more

Last week in Mish Unemployment Projections Through 2020 I posted a chart and tables of what unemployment might look like in what is best described as an optimistic "muddle through" scenario with no recessions for another decade. Still even with those optimistic projections I came up with this gr ... Read more

E.J. McMahon, director at the Manhattan Institute says New York deficits amount to financial emergency . New York state's huge and growing budget gap requires government to take drastic actions to correct it, said E.J. McMahon, director of the Empire Center for New York State Policy at the Manhat ... Read more

Yesterday I stated FHA Bailout By Taxpayers On The Way . The FHA denies a bailout is coming. Please consider Inside the FHA's financial audit, with David Stevens, FHA commissioner and CNBC's Diana Olick. The Term Bailout Does Not Apply David Stevens: "Bailout is a term widely used with fi ... Read more

After Democrats lost two Gubernatorial elections, Obama claims to have found fiscal religion. I will believe it when I see it. Please consider Obama wants domestic spending cuts in next budget . The Obama administration, mindful of public anxiety over the government's mushrooming debt, is shif ... Read more

Taxpayers may was well brace for an FHA bailout. It is all but guaranteed. With current FHA practices it is likely to be a big one. On November 5, the Richmond Register was asking What does the FHA think it is doing? Exactly who made Bernadine Shimon think that she could buy a new house shortly ... Read more

Inquiring minds are interested in figuring out how long it might take to get back to "full employment" defined as 5%. John Mauldin touched upon this theme in Welcome to the New Normal . John's analysis stopped short of making actual projections as to when full employment would return, or the d ... Read more

In case you missed it Goldman Sachs CEO Says Bank is Doing 'God's Work' . While acknowledging the role of banks in the financial meltdown, the CEO of Goldman Sachs said recently he believes his company is doing "God's work." "We're very important. We help companies to grow by helping them to ra ... Read more