Juggling Dynamite

The unbounded optimism of the Jazz Age and the shocking consequences when reality finally hit on October 29th, ultimately leading to the Great Depression. Here is a direct link. Famous last words: “You couldn’t go wrong investing in American stocks”…sound familiar? The more things stay the same…

BTW in case you are wondering, the margin use on NYSE stocks has now reached levels seen near the peak of both the tech led stock bubble of 2000 and the credit/housing/commodities/stock bubble of 2007 as shown in this chart to 2013.

CNBC’s Michelle Caruso-Cabrera reports the ECB has upped the stakes for emergency funding. Meanwhile, ongoing talks are taking place between Cypriot and Russian finance ministers, reports CNBC’s Steve Sedgwick.
Here is a direct link.

Ed Balls, shadow chancellor, Labour Party, says the UK economy has flatlined and the budget should have gone further on housing and infrastructure investment. Britain has so far chosen to hold its finance sector harmless at the expense of everything else. Toiling in the throes of a triple dip recession, the evidence is now over-whelming that a new approach is desperately needed. Here is a direct link.