background preloader

Crise Financière

Facebook Twitter

Paul Craig Roberts: The Fiscal Cliff Is A Diversion: The Derivatives Tsunami and the Dollar Bubble. The Fiscal Cliff Is A Diversion: The Derivatives Tsunami and the Dollar Bubble By Paul Craig Roberts December 18, 2012 "Information Clearing House" - The “fiscal cliff” is another hoax designed to shift the attention of policymakers, the media, and the attentive public, if any, from huge problems to small ones. The fiscal cliff is automatic spending cuts and tax increases in order to reduce the deficit by an insignificant amount over ten years if Congress takes no action itself to cut spending and to raise taxes. In other words, the “fiscal cliff” is going to happen either way. The problem from the standpoint of conventional economics with the fiscal cliff is that it amounts to a double-barrel dose of austerity delivered to a faltering and recessionary economy. Ever since John Maynard Keynes, most economists have understood that austerity is not the answer to recession or depression.

The fiscal cliff requires that the federal government cut spending by $1.3 trillion over ten years. It's the Inequality, Stupid. Want more charts like these? See our charts on the secrets of the jobless recovery, the richest 1 percent of Americans, and how the superwealthy beat the IRS. How Rich Are the Superrich? A huge share of the nation's economic growth over the past 30 years has gone to the top one-hundredth of one percent, who now make an average of $27 million per household.

The average income for the bottom 90 percent of us? Note: The 2007 data (the most current) doesn't reflect the impact of the housing market crash. Winners Take All The superrich have grabbed the bulk of the past three decades' gains. Download: PDF chart 1 (large) PDF chart 2 (large) | JPG chart 1 (smaller) JPG chart 2 (smaller) Out of Balance A Harvard business prof and a behavioral economist recently asked more than 5,000 Americans how they thought wealth is distributed in the United States. Download: PDF (large) | JPG (smaller) Capitol Gain Why Washington is closer to Wall Street than Main Street. Congressional data from 2009. Sources.

Problemes en France

Libéralisme, TINA etc.. The American Dream By The Provocateur Network. Crise-2010-La_suite. Raging Bulls: How Wall Street Got Addicted to Light-Speed Trading | Wired Business. Photo: Tim Flach/Getty Wall Street used to bet on companies that build things. Now it just bets on technologies that make faster and faster trades. Editor’s note: One of the most interesting things about the catastrophe at Knight Capital Group—the trading firm that lost $440 million this week—is the speed of the collapse. News reports describe the bulk of the bad trades happening in less than an hour, a computer-driven descent that has the financial community once again asking if its pursuit of profits has led to software agents that are fast yet dumb and out of control.

The 2012 New York Battle of the Quants, a two-day conference of algorithmic asset traders, took place in New York City at the end of March, just a few days after a group of researchers admitted they had made a mistake in an experiment that purported to overturn modern physics. If that were all it took, then by now someone would be building one. This movement has been gaining momentum for more than a decade. Latest Market Glitch Shows 'Trading Out of Control' - US Business News. Cashin: Humans Prevented Another 'Flash Crash' In this excerpt from "Closing Bell," Art Cashin of UBS talks with Bob Pisani, Bill Griffeth, and Maria Bartiromo, about today's apparent technological problem that disrupted the trading of almost 150 stocks this morning. He notes there were trading errors even before computers took over the process.

Traders, though, have grown weary of the problems and say the high-speed environment has changed the market in a bad way. "When markets would have a big move, when things were really crazy, I would go out into the street and talk to people and they knew. Now, you get these big moves and people just don't care anymore," Silverman says. "They don't want to be a part of it, the high-frequency thing. The algorithmic situation needs to be looked at. Firms create algorithms to buy and sell stocks according to formulas and market conditions. "A lot of people seem to think it was human error. Questions? Why Investors Willingly Pay Speed Traders Extra Billions.

When high-frequency traders defend themselves against criticism that they’re screwing up the stock market by distorting prices or making it more volatile, their argument usually goes like this: Yes, but we’ve lowered the costs of trading. Which is true, in a way. The bid-ask spread for many stocks—the difference between what it costs to buy or sell a share—is often just a penny, much narrower than it used to be. As speed traders have proliferated over the last few years, they’ve made the U.S. stock market considerably more liquid, meaning there’s almost always someone willing to take the other side of your trade. The problem is that when slower, long-term investors try to buy or sell shares, they often find themselves at the back of the line.

They are leapfrogged by thousands of lightning-quick traders who make their living jumping in and out of shares of “ultra liquid” stocks such as Bank of America (BAC). This shows up in the amount of volume for ultra-liquid stocks. COMMENT FURENT AUTORISES LES PARIS SUR LES FLUCTUATIONS DE PRIX (V) CE QU’IL CONVIENT DE FAIRE MAINTENANT. J’ai attendu de disposer d’un texte complet sur l’exception de jeu avant de vous le proposer en cinq livraisons.

Certains de vos commentaires relatifs aux épisodes précédents du feuilleton m’encouragent à modifier mon texte, et tout particulièrement la présente conclusion. J’ai cependant préféré – avant d’introduire le moindre changement – vous présenter le texte entier dans sa rédaction originale. Cette partie V débouchera donc sur une version révisée qui intégrera toutes vos observations, y compris celles que vous ne manquerez pas de faire à son propos. Je rappelle que l’article 421 du code pénal abrogé le 28 mars 1885 déclarait que : « Les paris qui auraient été faits sur la hausse ou la baisse des effets publics seront punis des peines portées par l’art. 419 ». Les paris sur les fluctuations de prix étaient donc interdits en France jusqu’à cette époque. « »Quant aux marchés à terme qui se font à la Bourse, ajouta M.

Comment la Chine rachète la Grèce. Deux petits drapeaux grec et chinois trônent sur le bureau de Constantine Yannidis, à Athènes. Le jour est important : le président de la Chambre de commerce sino-hellénique reçoit la visite d? Une dizaine d? Entrepreneurs venus de la province chinoise de Jiang-Su. Ces dernières années, les Chinois montrent un intérêt croissant pour la Grèce, et les délégations investissent le bureau de M. Yannidis. Une hausse de 250% des exportations « En 1972, nous échangions pour 1 million de dollars. Un plan Marshall Chinois « La Grèce n? Selon nos informations, une compagnie chinoise serait en pourparlers avec l? Alors que le gouvernement grec, sous pression de la troïka (Commission européenne, Banque centrale européenne et Fonds monétaire international), qui débarque cette semaine à Athènes pour mener une nouvelle mission, s? Mis en vente, l? Cosco, symbole de l? Car l'intérêt chinois pour la Grèce ne date pas de la crise. Petits commerçants Main d??

La Chine se tourne désormais vers le « made in Europe ».

Les cons et la r&d en vrac

Crapules & Banquiers. Liborgate. PME a la rue. #Bankster reloaded : jusqu’à quand? “La chute du couperet est amortie par deux puissants ressorts à boudin caoutchoutés placés en dessous” . Ne me demandez pas ce que ça veut dire, mais faites le vous même. Les pires comportements peuvent conduire aux pires décisions. Manifestement les leçons de l’Histoire..

Voilà donc des nouvelles des banksters, après les épisodes précédents. Précédents épisodes. Octobre 2008: La SEC (Autorité US de controle de la bourse) rend un rapport avec entre autres des extraits de mails de banksters et autres crapules. For example, in one exchange of internal communications between two analysts at one rating agency, the analysts were concerned about whether they should be rating a particular deal. Octobre 2008 : Coucou, les banques Françaises ont des fonds spéculatifs. Décembre 2008: Madoff, vous l’avez déjà oublié ? Décembre 2008: Des singes supérieurs peuvent comprendre ce qu’est la monnaie. Janvier 2009, à Londres certains ont jeté des boules de neige sur les banquiers véreux. Décembre 2010.

Empire US en vrac

P.Larrouturou et la réduction du temps de travail. Bernie Sanders Says It Is Time To Break Up The Big Banks As They. Paging Christine Varney. Finally, what Zero Hedge has been pounding the table on for months is starting to make it through to (some of) the ruling elite. In an interview with Dylan Ratigan, Bernie Sanders, who unfortunately is not quite representative of the prevailing DC groupthink yet), says: "it is not just a too big to fail problem, it is monopolistic control of the economy and the incredible concentration of ownership. If Teddy Roosevelt were here right now, the guy who broke up all the big special interests in his day: if he believed that two-thirds of the credit cards were being issued by four banks, does anyone think we should not be breaking these guys up.

" He points out the following simple arguments for breaking up the big banks: 1) four largest banks issue two thirds of the credit cards, 2) they hold 50% of mortgages and 3) $7 trillion in assets (50% of GDP) . #999999; margin-top: 5px; text-align: center; width: 420px;">Visit for #999999 ! Big Banks Move to Mask Risk Levels. Le paradoxe de la part salariale. Il faut avoir la bonne mine de Jean Peyrelevade pour soutenir face caméra sourire aux lèvres que la part salariale n’a pas varié « depuis cinquante ans » [1]. Il est vrai que Jean Peyrelevade est le seul à dire aussi ouvertement que la part des salaires dans la valeur ajoutée est bien trop élevée et qu’il s’agirait qu’elle rende au plus vite 3 ou 4 points au profit [2].

Admettons qu’il y a là un certain courage dans la joyeuse provocation, à moins qu’il ne s’agisse plus classiquement d’une combinaison de persévérance dans l’erreur caparaçonnée et de certitude de soi. Il est aussi le seul à ne pas avoir vu que, de 1970 à aujourd’hui, la part salariale a connu un formidable coup d’accordéon, avec une croissance très forte de 1970 jusqu’au point haut de 1982, suivie d’une décrue encore plus forte dont l’essentiel est acquis dès la fin des années 80.

C’est à ce moment qu’il faudrait commencer à parler chiffres. Aussitôt deux questions. Brève histoire du pendule Quo non descendet ? "Showdown In Chicago": Protesters Crash Bankers Convention, (VID. Alex Parker attended the event on behalf of the Huffington Post and collected this video. Parker took shots various shots of the protesters in Chicago today and spoke to George Goehl, director of National People's Action.

Here's Goehl: "I think the bankers have their boot on the neck of American dream, to be honest. We've got neighborhoods in Chicago where we have 200 foreclosures per square mile... It's insane that the same financial institutions that created the foreclosure crisis, sent the economy into a tailspin and needed billions and billions in taxpayer bailouts are now leading the charge to kill financial reform. It makes no sense. " Parker also spoke to David Floyd, 62, a Chicagoan who facing foreclosure. "There's people are in your organization that are taking people's money. (For photos and video of the first two days of the protest, scroll down.)

Via, the SEIU here is a video of protesters gathering in the Chicago offices of Wells Fargo. Here's a picture from the scene. Sen. EU faces 'toxic' debt spiral :: Bruno Waterfield in Brussels. It is not surprising that European Union finance ministers looked ashen faced in Brussels on Tuesday. The EU faces vast costs and spiralling government debt The breakfast meeting discussed how EU governments should deal with, in other words pay for, the "toxic" banking assets that triggered the economic crisis. As discussed here on Monday, the European Commission warned that government attempts to buy up or underwrite "impaired" assets could plunge the EU into a deeper crisis, one that threatens the Union.

Everyone is terrified that a second bank bailout will push up government borrowing at a time when bond markets have growing doubts over the ability of countries such as Spain, Greece, Portugal, Ireland, Italy and Britain, to pay it back. "It is essential that government support through asset relief should not be on a scale that raises concern about over-indebtedness or financing problems. " There is trouble ahead. On risk and exposure: Après Dubaï, attention à la Grèce - Géopolitique. La Grèce a ceci de particulier que les chiffres y sont fantaisistes. Vingt-huit ans après son entrée dans l'Union européenne, les statistiques officielles y sont encore savamment maquillées pour maximiser les subventions et minimiser les déséquilibres des comptes publics. Élu en octobre, le nouveau gouvernement s'est aperçu que le déficit budgétaire avait été outrageusement sous-estimé. Évalué jusque-là à 6 % du PIB pour l'année en cours, le déficit atteindra plutôt 12,7 %.

La dette publique, elle, est chiffrée par la Deutsche Bank à 135 % du PIB... Les agences de notation ont dégradé la Grèce pour tenir compte du risque de voir le pays ne plus rembourser ses emprunts. En cas de banqueroute, l'Europe viendra-t-elle au secours d'Athènes pour préserver la zone euro ? Comme Budapest, il y a un an, Athènes pourrait avoir recours au FMI, si elle acceptait de se plier aux conditions très strictes imposées par l'institution internationale. Alors que faire ? Moody's 'axe blow' to rating on Spanish debts. Surveys: IT job satisfaction plummets to all-time low. News January 6, 2010 04:42 PM ET Computerworld - The recession and its accompanying reorganizations, layoffs and corporate turns to outsourcing have been corrosive to IT employee job satisfaction. And that job dissatisfaction is increasing concerns among many employment experts that key employees may leave current jobs as soon as they get what they perceive is a better offer.

A mid-2009 job satisfaction survey by the Corporate Executive Board, a Washington-based advisory firm that counts many Fortune 500 firms among its clients, found that the number of dissatisfied workers continues to increase. The firm surveys 150,000 workers each quarter, asking a battery of behavioral questions about their jobs. About 10,000 of the those surveyed work in IT jobs, board officials said. In 2007, about 12% of the IT employees fit in category of "highly engaged" workers, but that has since fallen to 4%. "They are likely to be the first ones to leave your company as soon as they can," Capella said. 20,3 milliards de dollars de bonus pour Wall Street en 2009 - BA. Tax heaven create poverty - Soutenez moi un peu (oups) [dons] Voila un appel à don, j’en fait régulièrement. Vu que je ne re-trouve pas de travail, que les promesses de contrat des uns sont du vent et ne parlons pas des arnaques sur projets.. Et oui voila..

Ce n’est pas lié à l’actualité judiciaire du moment avec la plainte pour injure publique par M.Le Pen, même si celle-ci peut éventuellement me créer un peu quelques soucis. (more…) arnaque, arnaques, ASS, Blog, blogs, blogueurs, comm, complot, con, cons, contrat, CTU, Euro, GUE, lit, MES, moi, moi je, newsletter, PPE, projet, promesse, promesses, PS, pub, rance, réseau, son, travail, UE, us Hollande : 89% de Sarkozy un petit calcul s’impose , au sujet de la dette. D’après son projet de 2012 , le nain pestilentiel Sarkozy proposait de réduire la dette en faisant un total de 75 Milliards d’euros d’économies d’ici 2016 soit en 4 années pleines. et rajouter 40 Milliards d’impôts nouveaux pour arriver a l’équilibre budgétaire en 2016. Posted by Rva in Hollandie (more…) Janet Tavakoli: "Goldman Sachs: Spinning Gold" | zero hedge. The Beginning Of The End For Ernst & Young? Auditor Back In Spot.

Failed Bond Auction In... CHINA? - The Market Ticker.

Goldman Sachs

Consumer Credit: OUCH! - The Market Ticker. Citigroup’s Chuck Prince confirms that risky behavior drives out. Network. Encore ce bon vieux Greenspan ! - Jean-Pierre CHEVALLIER, busine. A World Without Banks | zero hedge.