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Tag Archives: Enron

Beware Of Those Selling “Technology”

“3. And they said to one another, ‘Come, let us make bricks, and burn them thoroughly.’ And they had brick for stone, and bitumen for mortar. 4. Then they said, ‘Come, let us build ourselves a city, and a tower with its top in the heavens, and let us make a name for ourselves; otherwise we shall be scattered abroad upon the face of the whole earth.’” Genesis 11:3-4 (NRSV) Technology Technology can be thought of as the development of new tools. New tools enhance productivity and...

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Steinhoff Disintegrates As Biggest Shareholder Caught In Margin Call “Death Spiral”

The stock of scandal-plagued retailer Steinhoff plunged for the third consecutive day, bringing its total drop in the past 3 days to over 50%, as its biggest shareholder and former Chairman, Christo Wiese, was caught in a vicious margin call, and increased the amount he has raised from selling shares in various related entities such as food retailer Shoprite Holdings Ltd. to 3.3 billion rand ($259 million) as his net worth continues to disintegrate amid the accounting scandal which some -...

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“But The Elites Will Just Ban Bitcoin!”

By Chris at www.CapitalistExploits.at I was thinking about this as I've been reading....and re-reading the absolutely brilliant book "Sapiens: A Brief History of Humankind" by Yuval Noah Harari, who is one of my new favourite thinkers. In particular, there is a chapter which takes a sword to the notion that empires always crush rebellions with an iron fist: Throughout history empires have crushed rebellions with an iron fist, and when its day came, a sinking empire used all its...

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Bitcoin Soars To New Record High – Mysterious Creator Satoshi Now Worth Over $7 Billion

Another crisis in another nation and Bitcoin prices surge to another new high. Overnight chaos in Saudi Arabia have prompted Bitcoin to jump to $7590 - a new record high - ironically as prince bin-Talal is arrested for money-laundering a week after calling Bitcoin "a fraud like Enron." With a market cap over $125 billion, the cryptocurrency's mysterious creator is now worth over $7 billion. Oh the irony. A week ago Saudi prince Alwaled bin-Talal made headlines around the world...

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Bitcoin Tumbles After Saudi Prince Calls Crypto – “Enron In The Making”

Another day, another elite with a petrodollar ax to grind denigrates crytpocurrencies. This morning's prognosticator was Saudi Arabian Prince Alwaleed bin Talal Al Saud who told CNBC... "I just don’t believe in this bitcoin thing. I think it’s just going to implode one day. I think this is Enron in the making."   "It just doesn’t make sense. This thing is not regulated, it’s not under control, it’s not under the...

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The Problem With Forecasts

Submitted by Lance Roberts via RealInvestemntAdvice.com, The Problem With Forecasts We can’t predict the future – if it was actually possible fortune tellers would all win the lottery.  They don’t, we can’t, and we aren’t going to try. However, this doesn’t stop the annual parade of Wall Street analysts from pegging 12-month price targets on the S&P 500 as if there was an actual science behind what is nothing more than a “WAG.” (Wild...

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Trump’s Bait And Switch?

Submitted by Nomi Prins via TomDispatch.com, Given his cabinet picks so far, it’s reasonable to assume that The Donald finds hanging out with anyone who isn’t a billionaire (or at least a multimillionaire) a drag. What would there be to talk about if you left the Machiavellian class and its exploits for the company of the sort of normal folk you can rouse at a rally?  It’s been a month since the election and here’s what’s clear: crony capitalism, the kind...

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Blackouts Loom With California In Power Grid Emergency: “All Customers Should Expect 14 Days Without Power”

Submitted by Mac Slavo via SHTFPlan.com, The entire Los Angeles metropolitan area and most of Southern California can expect blackouts this summer. The power grid is under direct threat as a result of the unprecedented, but little reported, massive natural gas leaks at Alisco Canyon that was ongoing for  four months as an intense summer heat wave sets in. According to Reuters: California will have its first test of plans to keep the lights on this summer…   With...

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Evil, Incorporated

About a week ago, I wanted to watch something (out of the corner of my eye, as I often do during my trading day) that wasn't one of the movies I've seen a thousand times already. I fired up Netflix, and I decided to watch The Smartest Guys in the Room, the Enron story, whose trailer is here: I love documentaries, and I love learning about business scandals, but even though I already knew the Enron tale fairly well, watching this movie made me really mad. As long-time readers know, I'm...

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Obama: Worst President In U.S. History?

Bush was a horrible president. At the time, I thought he was the worst president in American history. But Obama has made a lot of firsts himself … For example, Obama: Has prosecuted more whistleblowers than all other presidents combined Sentenced whistleblowers to 31 times the jail time of all prior u.s. presidents combined Prosecuted fewer financial crimes than President Reagan, Clinton or either of the Bush presidents.   (As bad as the Bush administration was, they at...

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