Financial Armageddon: Anticipating What Was Once Unthinkable

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Description
Preface
Table of Contents
Advance Praise
Introduction
Sample Chapter

Reviews
and News

Here's what Edward Chancellor, David Tice, Marc Faber, Bill Fleckenstein, Bill Cara, John Rubino, Bruce Stratton, James Howard Kunstler, and Richard Daughty have to say about Financial Armageddon...

"Can Investors Hang Their Hats on Tech?"
Wall Street Journal, Mark Gongloff, July 14, 2009.

"Spin Cycle"
Contrary Investors Cafe Network, Andy Sutton, July 8, 2009.

"'The Recovery' and other Tall Tales"
UrbanSurvival, George Ure, July 2, 2009.

"Michael Panzner’s Foresight: The Derivatives Market Disaster"
Financial Crisis Aftermath, June 27, 2009.

"Economic Ping Pong"
FinancialSpiltMilk, Craig Brown, June 24, 2009.

"Financial Review with Mark Seleznov"
KFNN, Mark Seleznov, June 8, 2009.

"Cavuto"
Fox Business News, Neil Cavuto, June 5, 2009.

"Night Time Live,"
KFGO, Jason Spiess, June 4, 2009.

"Steep Fluctuations in the Value of the Dollar Can Dramatically Affect Your Bottom Line,"
Pittsburgh Post-Gazette, Tim Grant, June 4, 2009.

"Turning Hard Times into Good Times,"
Voice America Business, Jay Taylor, June 2, 2009.

"Michael Panzner Doesn't Think the Hard Times Are Over,"
The Curious Capitalist, Justin Fox, June 1, 2009.

"New Column: Don't Tune Out Peter Schiff,"
The Curious Capitalist, Justin Fox, May 22, 2009.

"California Bookwatch: Economics Shelf,"
The Midwest Book Review, May 2009.

"FSN Broadcast,"
Financial Sense Newshour, Jim Puplava, May 16, 2009.

"Faith-Based Economics,"
Thoughts from the Frontline, John Mauldin, May 15, 2009.

"The Korelin Economics Report,"
Talk Star Radio Network, Al Korelin, May 15, 2009.

"Cavuto"
Fox Business News, Charles Payne, May 8, 2009.

"Happy Hour,"
Fox Business News, Eric Bolling, Cody Willard, and Rebecca Diamond, April 30, 2009.

"It's Us or Them - and Inflation's Coming,"
Bearwatch, April 29, 2009.

"The Kudlow Report"
CNBC, Larry Kudlow, April 15, 2009.

"MoneyTalk with Bob Brinker,"
ABC New Radio, Bob Brinker, April 12, 2009.

"IntelStrike Report,"
Oracle Broadcasting Network, Doug Owen and Michael Vail, April 12, 2009.

"Nassim Taleb's Ten Principles,"
greenfaucet, Roger Nusbaum, April 8, 2009.

"The Jeff Rense Program,"
American Freedom Radio, Jeff Rense, April 6, 2009.

"FSN Broadcast,"
Financial Sense Newshour, Jim Puplava, April 4, 2009.

"Happy Hour,"
Fox Business News, March 30, 2009.

"Sense on Cents with Larry Doyle,"
No Quarter Radio, March 29, 2009.

"Book Report - When Giants Fall,"
Prudens Speculari, March 25, 2009.

"Our Next Five Years: Recovery, Mediocrity, or Instability?"
Trends I'm Watching, March 22, 2009.

"Economics Blogs in a Time of Crisis: Policy, Development, Globalization, and Transformation,"
Open Anthropology, Maximilian Forte, March 22, 2009.

"Warning Sounded But No One Heeded,"
The Business Times, March 20, 2009.

"The Gold and Silver Review,"
GoldSeek.com Radio, March 14, 2009.

"Rothbard on the Utility of Quantitative Easing,"
Decline and Fall of Western Civilization, March 11, 2009.

"One Doomsayer Who Got It Right,"
Institutional Investor, Edward Chancellor, March 9, 2009.

"Weekend Roundup,"
Random Roger, Roger Nusbaum, March 9, 2009.

"Daily Intel: Why Going Rambo Won’t Save Us From the Financial Crisis,"
New York, Hugo Lindgren, March 9, 2009.

"Jeff Nyquist Radio Show,"
WIBG, Jeffrey R. Nyquist, March 5, 2009.

"SmartMoney Interview,"
SmartMoney, Russell Pearlman, March 4, 2009.

"Michael Panzner's 'When Giants Fall' - a Blueprint for Our Inevitable Future,"
Jr Deputy Accountant, Adrienne Gonzalez, March 3, 2009.

"Book Review: When Giants Fall,"
Canadian Business Blog, Larry MacDonald, March 3, 2009.

"Charts Suggest Dow Is Due for a Bounce,"
The Wall Street Journal, Mark Gongloff, March 3, 2009.

"Links for 2009-03-01,"
Humble Money, March 1, 2009.

"The Joey Reynolds Show,"
WOR, Joey Reynolds, February 28, 2009.

"Inefficient Market: The Doomsayer Who Got It Right,"
breakingviews, Edward Chancellor, February 26, 2009.

"When Giants Fall" [Presentation at Science, Industry and Business Library],
New York Public Library, February 25, 2009.

"Cavuto,"
Fox Business News, Neil Cavuto, February 24, 2009.

"FSN Broadcast,"
Financial Sense Newshour, Jim Puplava, February 21, 2009.

"A Call to all Finance Bloggers,"
Phorgy Phynance, February 21, 2009.

"Coast to Coast AM with Art Bell,"
Premiere Radio Networks, Art Bell, February 20, 2009.

"Social Collapse Best Practices,"
Decline and Fall of Western Civilization, February 20, 2009.

"It's Sir to You,"
Prudens Speculari, February 17, 2009.

"A Financial Crisis Reading List,"
Actuarial Review, Louise Francis, February, 2009.

"Some Places that Predicted the Financial Crisis,"
Elizaphanian, Sam Norton, January 22, 2009.

"Stock Market Could Halve Again,"
Bearwatch, January 9, 2009.

"Investing for Hard Times, Not End Times,"
Los Angeles Times, Tom Petruno, January 3, 2009.

"When the Crystal-Ball Gazers Learned to Eat Ground Glass,"
Irish Times, January 2, 2009.

"FSN Broadcast,"
Financial Sense Newshour, Jim Puplava, December 20, 2008.

"The 50 Best Business Blogs of 2008,"
Business Pundit, Drea Knufken, December 18, 2008.

"Denninger's Question,"
Bearwatch, December 17, 2008.

"Madoff Fraud Another Blow to Sentiment,"
MarketBeat, David Gaffen, December 12, 2008.

"The Other Astonishing Scandal,"
Newsradio 620, Charlie Sykes, December 12, 2008.

"Evening Edition Doom and Gloom,"
FinancialSpiltMilk, December 9, 2008.

"The Coming Great Depression: Intersecting/Reinforcing Trends,"
Of Two Minds, Charles Hugh Smith, November 25, 2008.

"Global Recession, Country by Country,"
Mish's Global Economic Trend Analysis, Mike Shedlock, November 5, 2008.

"As Bear Naps, Stocks Poised for a Rally,"
Wall Street Journal, Mark Gongloff, November 3, 2008.

"FSN Broadcast,"
Financial Sense Newshour, Eric King (sitting in for Jim Puplava), November 1, 2008.

"Chart on Apple Inc. - AAPL,"
Prudens Speculari, October 30, 2008.

"Down for the Count,"
CounterPunch, Mike Whitney, October 24, 2008.

"Predicciones de la Crisis Económica,"
Univision Online, Paola Ortiz, October 23, 2008.

"Top 10 Biggest Percentage Dow Gains,"
Flip This Burger, October 15, 2008.

"Bank Fears Afflict 'Oversold' Market,"
The Wall Street Journal, David Gaffen, October 13, 2008.

"Credit Rationing and Depressionomics,"
FT Alphaville, Sam Jones, October 13, 2008.

"Week in Review #41 (2008-10-12),"
Bill Cara: Capital Markets and Social Equity, Bill Cara, October 11, 2008.

"Refuge, Flight, Battle Rejoined, Victory, Retribution,"
Bearwatch, October 11, 2008.

"Briefing: Wall Street’s Hidden Time Bombs,"
The Week, October 10, 2008.

"The Recession Is Already Here,"
What Comes Next?, Michael MacLeod, October 5, 2008.

"'Prophets of Doom' Say Financial Crisis Warnings Unheeded,"
Agence France-Presse, Rob Lever, October 4, 2008.

"Perma-Bulls, Bailouts & Bull**** in a Free Market,"
The Bullish Bear, David Ferreira, October 3, 2008.

"Wall Street's Stock Has Dropped in World's Eyes,"
USA Today, Adam Shell, September 28, 2008.

"What A Fine Mess You Have Gotten Us Into,"
The Aleph Blog, David Merkel, September 28, 2008.

"Trading,"
Degringolade, Larry MacDonald, September 26, 2008.

"Preparing for Harder Times,"
Canadian Business Online, Larry MacDonald, September 25, 2008.

"Five Reasons: Why the Short-Selling Ban Stinks,"
MarketBeat, David Gaffen, September 19, 2008.

"Financial Armageddon is in Full Effect,"
Trader Mike, Michael Seneadza, September 18, 2008.

"Geithner Leads Rescue Team,"
New York Post, Paul Tharp, September 18, 2008.

"S&P 500 vs. Volatility Index: Complacency or Capitulation?"
The Big Picture, Barry Ritholtz, September 16, 2008.

"Lehman Bankruptcy Shakes World Financial System,"
Agence France-Presse, September 15, 2008.

"The 'D' Word ?"
Prudens Speculari, September 9, 2008.

"Is BEA Measuring Growth or Inflation?"
The Big Picture, Barry Ritholtz, August 28, 2008.

"Michael Panzner Strikes Again,"
Skeptical CPA, August 17, 2008.

"Michael J. Panzner - Financial Armageddon,"
Tools for Success,
Ken Inlow, August 12, 2008.

"Interview,"
Stock Shotz,
James McClung, August 8, 2008.

"Bill Cara's Community Chat, Tues., July 29, 2008, 5:52am ET,"
Bill Cara: Capital Markets & Social Equity,
Bill Cara, July 29, 2008.

"Connections: Echoes Of Japan In America's Bubble, "
Dow Jones Newswires,
Spencer Jakab, July 28, 2008.

"Debt Rattle, July 18 2008: Blow Me Over, "
The Automatic Earth,
July 18, 2008.

"Nicholas F. Benton: The Wheels Are Coming Off?"
Falls Church News-Press,
Nicholas F. Benton, July 3, 2008.

"FSN Broadcast,"
Financial Sense Newshour, Jim Puplava, June 28, 2008.

"Ultrashort Real Estate - SRS Update,"
Prudens Speculari, June 27, 2008.

"Can You Profit From a Financial Apocalypse?"
The Motley Fool,
Dan Caplinger, June 26, 2008.

"Question of the Day: Summer Reading List Edition,"
My Left Wing,
Maryscott O'Connor, June 4, 2008.

"The Not-so-distant Financial Dystopia,"
Registered Rep,
David A. Geracioti, June 1, 2008.

"Bill Cara's Community Chat, Sat., May 31, 2008, 10:36am ET,"
Bill Cara: Capital Markets & Social Equity,
Bill Cara, May 31, 2008.

"John McCain's Gramm Gamble,"
The Texas Observer,
Patricia Kilday Hart, May 30, 2008.

"What Does Consumer Sentiment Mean In Terms of Recession,"
The Big Picture, Barry Ritholtz, May 20, 2008.

"The Crisis Rotates from America to Europe, and Asia,"
Daily Telegraph: Business Blogs, Ambrose Evans-Pritchard, May 13, 2008.

"Financial Doom and Other Fairy Tales,"
MSN Money, Jim Jubak, May 6, 2008.

"Road to Nowhere: Housing Projects on Indefinite Hold,"
FT Alphaville, Mike Ivey, April 30, 2008.

"Porn, Coffee, Health: No Such Thing as a Recession Proof Industry?"
FT Alphaville, Helen Thomas, April 25, 2008.

"Your Money with Chuck Jaffe,"
MarketWatch, Chuck Jaffe, April 25, 2008.

"A Penny for an Old Book,"
Barron's, Thomas G. Donlan, April 14, 2008.

"FSN Broadcast,"
Financial Sense Newshour, Jim Puplava, April 5, 2008.

"Private Equity - A Clumsy Trick With Too Much Debt?"
FT Alphaville, April 1, 2008.

"Wall St. Not Seen Changed by Oversight,"
Associated Press, March 31, 2008.

"Kudlow & Company,"
CNBC, Larry Kudlow, March 27, 2008.

"Blog Roll — Talking Buffett and China,"
Wall Street Journal MarketBeat Blog, David Gaffen, March 24, 2008.

"Kudlow & Company,"
CNBC, Michelle Caruso-Cabrera, March 20, 2008.

"Watchlist for March 17, 2008,"
Trader Mike, Michael Seneadza, March 17, 2008.

"Bear Felled, in Part, by Reputation,"
Associated Press, March 17, 2008.

"Book Review--Financial Armageddon by Michael J Panzner,"
Birmingham ReAL, March 16, 2008.

"Kudlow & Company,"
CNBC, Larry Kudlow, March 11, 2008.

"Financials Exhale — Except Bear Stearns,"
Wall Street Journal MarketBeat Blog, David Gaffen, March 11, 2008.

"State of the Market - 3/4/08,"
Chart Swing Trader, March 4, 2008.

"In Defence of Scaremongers,"
Telegraph: Business Blogs, Ambrose Evans-Pritchard, March 4, 2008.

"FSN Broadcast,"
Financial Sense Newshour, Jim Puplava, February 16, 2008.

"The John Batchelor Show,"
77 WABC, John Batchelor, February 3, 2008.

"Kudlow & Company,"
CNBC, Larry Kudlow, February 1, 2008.

"The Loftus Report,"
Talkline Communications Network, John Loftus, January 29, 2008.

"A Market of Two Minds (on the U.S. Economy),"
Financial Post, Jacqueline Thorpe, January 26, 2008.

"Blog Roll — The Great Monoline Prop-Up,"
Wall Street Journal MarketBeat Blog, David Gaffen, January 25, 2008.

"Top Story with Kelly Klaas and Scott Martin,"
1310 KLIX, Kelly Klaas and Scott Martin, January 25, 2008.

"Four at Four: The Market Plays Tricks,"
Wall Street Journal MarketBeat Blog, David Gaffen, January 22, 2008.

"Glenn Beck,"
CNN, Glenn Beck, January 16, 2008.

Presentation: CLSA Asia Investors' Forum 2008, Las Vegas, January 14, 2008

"Link Lovin' fer the New Year,"
Interfluidity, Steve Randy Waldman, January 6, 2008.

"Kudlow & Company,"
CNBC, Larry Kudlow, January 2, 2008.

"Four at Four: Holiday on Ice,"
Wall Street Journal MarketBeat Blog, Mark Gongloff, December 27, 2007.

"Kudlow & Company,"
CNBC, Michelle Cabruso Cabrera, December 24, 2007.

"Kudlow & Company,"
CNBC, Larry Kudlow, December 18, 2007.

"Blog Roll — On Warren Buffett,"
Wall Street Journal MarketBeat Blog, David Gaffen, December 17, 2007.

"FSN Broadcast,"
Financial Sense Newshour, Jim Puplava, December 15, 2007.

Presentation: New York Public Library's Science, Industry and Business Library, December 13, 2007

"Kudlow & Company,"
CNBC, Larry Kudlow, December 12, 2007.

"Kudlow & Company,"
CNBC, Larry Kudlow, December 7, 2007.

"Market Bears' Gloomy Growl Being Echoed by Big Players,"
Chicago Tribune, Greg Burns, December 2, 2007.

"Kudlow & Company,"
CNBC, Larry Kudlow, November 27, 2007.

"Housing Woes Have Domino Effect,"
USA Today, Adam Shell, November 25, 2007.

"14,164.53*,"
New York Post, John Aidan Byrne, November 25, 2007.

"Kudlow & Company,"
CNBC, Michelle Caruso-Cabrera, November 23, 2007.

"First They Ignore You . . . Or the Wall Street Journal Confronts Peak Oil,"
City of the Future, Lakis Polycarpou, November 20, 2007.

"Kudlow & Company,"
CNBC, Larry Kudlow, November 13, 2007.

"Armour-Plated,"
Fund Strategy, Vanessa Drucker, November 12, 2007.

"Jeff Nyquist Radio Show,"
WIBG, Jeff Nyquist, November 12, 2007.

"Has the Power of the United States Peaked? [Review/Audio Interview],"
World Affairs Monthly, Thomas Pochari, November, 2007.

"Kudlow & Company,"
CNBC, Larry Kudlow, November 5, 2007.

"Kudlow & Company,"
CNBC, Larry Kudlow, November 2, 2007.

"Kudlow & Company,"
CNBC, Larry Kudlow, October 29, 2007.

"Glenn Beck,"
CNN, Glenn Beck, October 29, 2007.

"FSN Broadcast,"
Financial Sense Newshour, Jim Puplava, October 27, 2007.

"The Downward Trend Is Unstoppable,"
Global Analysis with J.R. Nyquist, Jeffrey R. Nyquist, October 26, 2007.

"Kudlow & Company,"
CNBC, Larry Kudlow, October 19, 2007.

"Prefer Stocks with Track Record to Exchange-Traded Funds,"
The Oakland Tribune, Cliff Pletschet, October 14, 2007.

"Kudlow & Company,"
CNBC, Larry Kudlow, October 11, 2007.

"The Loftus Report,"
Talkline Communications Network, John Loftus, October 8, 2007.

"Kudlow & Company,"
CNBC, Larry Kudlow, October 5, 2007.

"Business Daily: Investment Bubble,"
BBC World Service, Lesley Curwen, October 2, 2007.

"Stock Exchanges Are Playing Financial Russian Roulette,"
Cape Times (South Africa), Alide Dasnois, October 2, 2007.

"Kudlow & Company,"
CNBC, Larry Kudlow, October 1, 2007.

"Durables Goods Orders: A Leading Indicator for Stock Prices?"
The Big Picture, Barry Ritholtz, October 1, 2007.

"Kudlow & Company,"
CNBC, Larry Kudlow, September 28, 2007.

"Financial Armageddon Redux,"
Connor's Conundrums, Connor Boyak, September 25, 2007.

"Kudlow & Company,"
CNBC, Larry Kudlow, September 21, 2007.

"Kudlow & Company,"
CNBC, Larry Kudlow, September 11, 2007.

"Glenn Beck,"
CNN, Glenn Beck, September 18, 2007.

"Kudlow & Company,"
CNBC, Larry Kudlow, September 7, 2007.

"Glenn Beck,"
CNN, Glenn Beck, September 6, 2007.

"Traffic Rankings for Major Business and Economics Websites [Financial Armageddon moves up to 24th place from 32nd last month],"
Gongol.com, Brian Gongol, September 3, 2007.

"Bush's Bogus Bailout: Introduction to Tony Soprano Economics 101,"
CarolynBaker.net, Carolyn Baker, September 2, 2007.

"Jeff Nyquist Radio Show,"
WIBG, Jeff Nyquist, August 28, 2007.

"Kudlow & Company,"
CNBC, John Harwood, August 20, 2007.

"Return of the Doomsayers,"
SmartMoney, Russell Pearlman, September, 2007.

"Kudlow & Company,"
CNBC, Larry Kudlow, August 10, 2007.

"The Joyride that Was the American Dream,"
CarolynBaker.net, Carolyn Baker, August 9, 2007.

"The Thom Hartmann Program,"
Air America Radio, Thom Hartmann, July 30, 2007.

"Kudlow & Company,"
CNBC, Larry Kudlow, July 27, 2007.

"Jim Puplava's Current Reading List: 3rd Quarter 2007,"
Financial Sense Online, Jim Puplava, July 25, 2007.

"The Antiwar, Anti-Abortion, Anti-Drug-Enforcement-Administration, Anti-Medicare Candidacy of Dr. Ron Paul,"
The New York Times, Christopher Caldwell, July 22, 2007.

"Kudlow & Company,"
CNBC, Larry Kudlow, July 19, 2007.

"Searching for Storm Clouds,"
The Price of Everything, Tim Price, July 4, 2007.

"Kudlow & Company,"
CNBC, Larry Kudlow, June 29, 2007.

"Two Strong 'Buy' Recommendations,"
The Prudent Investor - Seeing Too Many Bubbles, Toni Straka, June 26, 2007.

"Kudlow & Company,"
CNBC, Larry Kudlow, June 22, 2007.

"Kudlow & Company,"
CNBC, Larry Kudlow, June 15, 2007.

"Starting Bell,"
Bloomberg Television, Ellen Braitman, June 13, 2007.

"Cara's Daily Commentary, Fri., June 8, 2007, 9:29 AM,"
Bill Cara: Capital Markets & Social Equity,
Bill Cara, June 8, 2007.

"Look Into Refinancing,"
New York Post, John Crudele, June 7, 2007.

"Kudlow & Company,"
CNBC, Erin Burnett, May 31, 2007.

"Week in Review #21 (2007-05-26),"
Bill Cara: Capital Markets & Social Equity,
Bill Cara, May 27, 2007.

"Financial Times Warns of Impending Derivatives/Hedge Fund Meltdown,"
Economic Dreams - Economic Nightmares, Dave Iverson, May 22, 2007.

"Panzner Reviews Bookstaber on Derivatives,"
Bearwatch, Rolf Norfolk, May 21, 2007.

"'Financial Armageddon' By Michael J. Panzner,"
Culture of Life News, Elaine Meinel Supkis, May 21, 2007.

"The Downside of Securitization ,"
Naked Capitalism, Yves Smith, May 21, 2007.

"Week #20 (2007-05-19) in Review,"
Bill Cara: Capital Markets & Social Equity,
Bill Cara, May 20, 2007.

"Michael Panzner Warns Again of Systemic Risk,"
Bearwatch, Rolf Norfolk, May 19, 2007.

"Trapped in a Government Spending Spree,"
The Daily Reckoning,
Richard Daughty, The Mogambo Guru, May 17, 2007.

"Kudlow & Company,"
CNBC, Larry Kudlow, May 18, 2007.

"The Shoulder Bone’s Connected to the Head Bone…,"
Wall Street Journal MarketBeat Blog, David Gaffen, May 17, 2007.

"Street Dogs: Because There’s No Profit in It?"
Business Day, Michel Pireupireum, May 17, 2007.

"Kudlow & Company,"
CNBC, Larry Kudlow, May 11, 2007.

"Midday Tidbits — Happy Talk,"
Wall Street Journal MarketBeat Blog, David Gaffen, May 11, 2007.

"Morning Call,"
CNBC, Liz Claman, May 10, 2007.

"Laissez-Faire Fed?"
Wall Street Journal MarketBeat Blog, David Gaffen, May 10, 2007.

"'Financial Armageddon' by Michael Panzner,"
Bearwatch, Rolf Norfolk, May 10, 2007.

"Dow's Romp Stokes Fear End Is Nigh For Bulls,"
Dow Jones Newswires, Spencer Jakab, May 8, 2007.

"Week #18 (2007-05-05) in Review (INITIAL),"
Bill Cara: Capital Markets & Social Equity,
Bill Cara, May 5, 2007.

"A Must Read Book - Financial Armageddon by Michael Panzner,"
The Kingsland Report, Jim Kingsland, May 4, 2007.

"Morning Call,"
CNBC, Carl Quintanilla, May 2, 2007.

"Business for Breakfast,"
KFNN, Ken Morgan, April 26, 2007.

"Kudlow & Company,"
CNBC, Larry Kudlow, April 25, 2007.

"The Big Picture on Gold, Silver, Real Estate, and the U.S. Dollar,"
SurvivalBlog.com, Jim Rawles, April 23, 2007.

"The Street with Danielle Bochove,"
Business News Network, Danielle Bochove, April 17, 2007.

"Author's Week,"
Charles Hugh Smith: Weblog and wEssays, Charles Hugh Smith, April 17, 2007.

"Financial Armageddon,"
Jack Stevison: Financial News & Opinion, Jack Stevison, April 15, 2007.

"Kudlow & Company,"
CNBC, Larry Kudlow, April 2, 2007.

"Itchy Trigger Fingers,"
Freebuck.com,
Joe Average, April 2, 2007.

"Our 'Strong Economy': A Powder Keg Waiting to Blow,"
NewsWithViews.com,
Devvy Kidd, April 2, 2007.

"The Armageddon Gang,"
The Big Picture,
Barry Ritholtz, March 30, 2007.

"The Armageddon Gang,"
Time, Justin Fox, March 29, 2007.

"The John Elliott Show,"
Air America Radio, Jon Elliott, March 28, 2007.

"How to Be Mogambo's Friend,"
The Daily Reckoning,
Richard Daughty, The Mogambo Guru, March 28, 2007.

"Wake-Up Call,"
Progressive Radio Network, Richard Martin, March 23, 2007.

"The Thom Hartmann Show,"
KPOJ, Thom Hartmann, March 23, 2007. [Segment starts at 42:47]

"Your Money,"
WBIX, Chuck Jaffe, March 23, 2007.

"Prudent Money,"
KVTT, Bob Brooks, March 22, 2007.

"The Michael Dresser Show,"
Lifestyle TalkRadio Network, Michael Dresser, March 21, 2007.

"Blog Roll -- Booyah Brouhaha,"
Wall Street Journal MarketBeat Blog, David Gaffen, March 21, 2007.

"Avoiding 'Financial Armageddon,'"
TheStreet.com TV,
Greg Greenberg, March 20, 2007.

"Cara's Bull Board, Tues., Mar. 13, 2007, 6:23 AM,"
Bill Cara: Capital Markets & Social Equity,
Bill Cara, March 13, 2007.
"Monday Curtain Raiser and the Week Ahead,"
The Kingsland Report, Jim Kingsland, March 11, 2007.

"A Bookish Bear,"
Wall Street Journal MarketBeat Blog, David Gaffen, March 7, 2007.

"Tipping Points and 'Financial Armageddon,'"
City of the Future Blog, Lakis Polycarpou, March 6, 2007.

"A Buying Opportunity… or Not,"
Wall Street Journal MarketBeat Blog, David Gaffen, March 6, 2007.

"Three Bears, No Goldilocks - Part I: Financial Armageddon," Bull Not bull!, March 5, 2007.

Featured Guest on Financial Sense Newshour with Jim Puplava, March 3, 2007.

"Market Carnage Yields Stress,"
The Star-Ledger, Joseph R. Perone, March 4, 2007.

Other Recent News

"China Syndrome,"
Wall Street Journal MarketBeat Blog, David Gaffen, February 27, 2007.

"This Play on Options Will Make You Money,"
New York Post, John Crudele, February 15, 2007.

"Springing Forward 2007: Business & Personal Finance,"
Publishers Weekly, Dick Donahue and Lauren Joyce, January 22, 2007.

"Money Matters: A Wealth of New Titles Aims to Make Cents for Today's Investor,"
Publishers Weekly, Natalie Danford, December 18, 2006.

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« Déjà Vu All Over Again | Main | Off the Mark »

September 16, 2008

Anticipating What Was Once Unthinkable

In a July post, "The Beginning of the End for America's AAA Rating?" I noted that the price of a credit default swap (or CDS, a form of "insurance" on creditworthiness) on 10-year U.S. government debt had climbed to a record 21.8 basis points (one-hundreths of a percentage point).

The rise indicated that investors were becoming increasingly worried about the financial health of the United States.

After treading water in the seven weeks that followed, the cost of insuring against a U.S. debt default has again moved higher, touching a fresh record of 24 basis points on Monday before easing back a tad to 23.3 bp today.

Amid bailout after bailout, is it any wonder that investors are beginning to anticipate what was once unthinkable -- an America that is unable to pay its bills?

September 16, 2008 at 09:53 PM in Debt | Permalink

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Comments

Are CDS really a valid instrument? I mean who in their right mind would buy a CDS knowing that US Govt would look to avert disaster by preventing payment against it?

To add to that point, isn't a US Govt CDS a useless derivative? I mean the fiat monetary system will have failed if the US Govt fails. This derivative is only a political tool and reporting on it is misleading.

Posted by: Anonymous | September 17, 2008 at 06:00 AM

What's news here? Uncle Sam is bankrupt. Eventually the public will wake up and hyperinflation will follow. Oh yes, and have a nice day

Posted by: Independent Accountant | September 17, 2008 at 10:10 AM

Excellent chart Mike!!

Posted by: Jesse | September 17, 2008 at 03:45 PM

I suggest you read Satyajit Das two outstanding articles on this subject in
Eurointelligence, which you can link on Naked Capitalism. Nothing better, to my mind, has been written on the subject.

Posted by: RK | September 17, 2008 at 07:14 PM

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September 16, 2008

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September 16, 2008

Anticipating What Was Once Unthinkable

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When Giants Fall - NYPL Presentation

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