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David's Macro Blog

Analysis and commentary on business, economics, real estate, financial markets, and other fun topics

Archive

Archive for February, 2011

Ever wonder how the real estate boom and bust occurred? Why is the foreclosure process such a mess and causing problems across the country?

The system was set up for failure.

Watch all three videos of the deposition of alleged robosigner Brian Bly of Nationwide Title Clearing. The deposition was taken by attorney Christopher Forrest of The Forrest Law Firm.

This is not about the actions of a few lower-level employees but the system created by those in power.

Part 1

Part 2

Part 3

Again, this is not about the people performing the tasks on a daily basis — they were NOT the ones in power or control. They were just following orders from above.

Other robosigner deposition videos:

Ever wonder how the real estate boom and bust occurred? Why is the foreclosure process such a mess and causing problems across the country?

The system was set up for failure.

Watch all four videos of the deposition of Crystal Moore, alleged robosigner of Nationwide Title Clearing. The deposition was taken by attorney Christopher Forrest of The Forrest Law Firm.

The main issue is not the actions of a few low-level employees but the system created by those in power.

Part 1

Part 2

Part 3

Part 4

Again, this is not about the people performing the tasks on a daily basis — they were NOT the ones in power or control. They were just following orders from above.

Other robosigner deposition videos:

Do charity and business mix? You bet.

Have you heard of Kiva? It’s the non-profit organization that loans very small sums of money to the poorest people around the world so that they can start a business to provide for themselves and their families.

Ever wonder how Kiva works and if it actually helps real people? Watch this CNBC video to see three different small businesses helped by Kiva.

Kiva shows us how charity and business can come together as entrepreneurs help raise living standards around the world.

If you ever wondered about Quantitative Easing, how it works, and how it affects us, just watch this 7-minute video: Quantitative Easing Explained in under 7 minutes in a way anyone can understand.

My favorite quotes:

“Why do they call it quantitative easing, why don’t they just call it printing money?”
“Because printing money is the last refuge of failed economic empires and Banana Republics, and the Fed doesn’t want to admit this is their only idea.”

“Because they say we have the deflation and the deflation is very bad.”
“What is the deflation?”
“The deflation is when prices of the things we buy go down.”
“Isn’t that good. Doesn’t it mean people can buy more of the stuff?”
“Yes, but the Fed said this is bad!”

“The only thing that I can see that is deflating is the Fed’s credibility.”
“Did they have a lot of credibility to start with?”
“No…”
“Because the Fed has been wrong about every major economic development in the past 20 years.”

“So the Goldman Sachs can front run the Fed and give them the worst possible price on the Treasury Bonds?”
“Yes!”