Recession

Secret of the Recession Ghost Fleet: 500 Empty Cargo Ships in Hiding

This is an amazing story.  There is a Ghost Fleet of empty cargo and container ships anchored off the coast of southern Malaysia.  Barely any crew, nothing to carry, nowhere to go. “The world’s ship owners and government economists would prefer you not to see this symbol of the depths of the plague still crippling…

The Yuppie Bounce

Go try to find an interview with virtually any sell-side analyst or money manager either in print or on financial television from this past February. Most told you to be completely out of stocks, understandably. The ones who did have the courage lack of choice and had to be recommending stocks in the media were…

Return of the Flannel Shirt: Recession Kids Get Their Grunge On

The year was 1991…Nirvana and Pearl Jam owned the airwaves, stocks and the economy were shaken by the Savings and Loan Crisis, and a young Chris Farley taught us how to laugh every Saturday Night. And oh yeah, we were all wearing flannel shirts. The flannel shirt trend came out of the Seattle thrift store…

Kidz Korner: What Does Stimulus Mean?

Kidz Korner is a relatively new feature here on The Reformed Broker where I explain complex financial issues to kids from the neighborhood in a simple, straightforward way. _______________________________________________________________________________________ Little Timmy Johnson: Hey Mister TRB, can I ask you a question? The Reformed Broker:  You just did… Timmy:  Oh.  Sorry, can I ask you another…

Droppin' Knowledge: Bill Gross on the Aftermath of Engorgement

PIMCO’s Bill Gross has his July commentary up on the web and his perspective is, as always, no-nonsense and interesting.  He begins by graphically describing the circumstances that led to the obesity-related death of a baseball umpire as his set up: “Kill the umpire,” the fan cried to open the 1996 baseball season in Cincinnati, and…

Skimping On Our Patriotism This July 4th

[youtube=http://www.youtube.com/watch?v=PWzUumHhcGg] (The NYC Fireworks Display of 2007…in better times) July 4th has always been and will always be my favorite holiday.  It combines my favorite things in the world:  American pride, BBQ, warm and sunny weather, a day off from work and loud noises/ flashing lights. Unfortunately, this year there will be considerably less oohing…

OK, So Where's That Crime Uptick?

Remember back in the September ’08 to March ’09 period when every day you’d read stories about people stocking up on safes and guns?    There were stories about police forces in major cities drilling to be ready for mass unrest. The prevailing wisdom was that as the recession built in intensity and joblessness trended toward 10%,…

The Avon Lady Army Advances

Is direct selling the solution for cash-strapped households looking to bring in some extra green? According to the AP, Avon, Tupperware, Mary Kay Cosmetics etc. are seeing a swelling of their sales forces of late from part-timers trying to make ends meet. From AP: Armies of new Avon ladies, Mary Kay reps and Tupperware sellers…