I'm catching up with many things that I wanted to post yesterday but just couldn't and I'll have that post out this weekend.
In the mean time I have a video from one of the best economists out there in my view, one who has been in front of everything that has happened since the sub-prime crisis and I generally don't hold economists in very high esteem, David Rosenberg.
This is about a 25 minute interview and I find some parts fascinating in that he talks about some of the very same issues that I have brought up recently, such as the real impact of the MF Global bankruptcy; the 8th largest in US history, the 5th largest financial in history and what he calls (exactly the same as I said in the last week or so), "The Canary in the Coal Mine" and how in the future, MF Global will be seen as the Bear Stearns moment of 2011, which as you know in 2008 is when everything started going down hill. However he also gives some very realistic points of view about what a bear market looks and acts like, it's not a straight line drop.
He also says,
"An economic depression occurs only once it beomes painfully obvious that the markets and economy are failing to respond to repeated bouts of policy stimulus"
and notes,
"There are no major economic indicators from employment to GDP to Industrial Production to Real Incomes that have managed to get back to their 2007 cycle highs"
Homes sales are lower then they were in late 2009
The S&P-500 is at the same level as it was over a decade ago.
There have been 10 years of zero employment growth.
And he skips right over the "R" word and goes straight to the "D" word, economic Depression.
So you may want to check out this video when you have an extra 30 minutes or so, it can be found HERE.
***As for the mailing list, I have been able to confirm that other Google Group users have been having the same problem over the last 3 days, so it seems to be a Google problem, although Google is very opaque in updating situations like this, I will continue to look, but for now, I would suggest just checking in on the main WOWS website.
