Social networking site Facebook may go public this week. This is important. The fact that the company is ready to sell shares to the public and Wall Street is underwriting for the initial public offering (IPO) can only mean one thing: the age of superficial communication devoid of real content and real meaning may be peaking… as soon as tomorrow!
January 31st, 2012 | Dan Denning | 11 comments | ContinuedAll Posts Tagged With: "financial assets"
We Don’t Expect to See Australian Banks Suddenly Keen to Expand their Loan Books
Maybe this will sound like a bunch of whining by the end of the week. After all, three of the big four Aussie banks will report results this week. There will be billion dollar cash profit figures tossed around. But as we said last week, the earnings performance of financial firms in the last six months is a sham.
September 28th, 2009 | Dan Denning | 5 comments | Continued
Equity Shareholders Are Wiped Out As Financial Shares Plummet
Now the wealth destruction is advancing on two fronts. Equity shareholders are wiped out as financial shares plummet. Meanwhile, assets are being revalued or in some cases, written off. Bondholders will be next. Here in Australia the credit noose tightened on the economy last month. Gasp. The Australian Bureau of Statistics reported that total lending finance fell by a seasonally adjusted 13.3% in May.
July 15th, 2008 | Dan Denning | 5 comments | Continued
The Supply Theory of Money is Simple Enough
Right now, a lot of money is disappearing. House prices are falling. Stocks all over the world are going down. Many financial assets – specialized derivative contracts and junk bonds – are getting hammered. The amounts of “implied” wealth lost are enormous. Worldwide stock market capitalization may be down about $5 trillion.
March 20th, 2008 | Bill Bonner | 1 comment | Continued
