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Sprott’s Last Decade Retrospective: It’s Déjà Voodoo Economics… All Over Again – This Weekend’s Must Read

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Because With Research "Analysts" Like These Who Needs [Insert Blank]

We present two rather amusing research reports by then-Merrill Lynch Securities Broker/Dealer analyst Guy Moszkowski, discussing Lehman Brothers. Just because with financial analysts like this, who needs a shotgun Bank of America bail out. Oh yeah, Merrill.

On The Stupidity Of Sell-Side Analysts

We have often noted our confusion at the seemingly impossible: a sellside analyst, coming to work each and every day, even though this process tends to be preceded by the monumentally difficult process of tying one's shoes. But don't take our word for it - the Valukas gift that keeps on giving, has summarized some of the more relevant analyst quotes disseminated by the sell-side to their clients, in the days and months before the firm filed for bankruptcy

Frontrunning: March 12

Built on a lie - the fundamental flaw of Europe's common currency ( Der Spiegel ) It has been a while since we had a Greece rumor: EMU States near €20-25 billion Greece aid accord ( Market News . Banking News ) Germanry and France have decided that Greece needs €55 billion until the end of the year to prevent insolvency ( Euro Intelligence , h/t Paul) No snow in February - Retail sales in US rose in February ( Bloomberg ), so did credit card chargeoffs IPO window still weak despite melt up: AVEO raises 23% less than sought in first biotech IPO of 2010

Guest Post: Captain Fantastic And The Dirt Cowboy

Submitted by Sal Arnuk at Themis Trading Captain Fantastic was Elton John’s 9 th album released in 1975.

Labor Unions Preparing To Take Goldman Sachs To Task, Push For Transaction Tax In Upcoming Widespread Rallies

America's labor unions are finally waking up from their deep slumber and noticing the vast schism in American society between the haves and the have nots. The catalyst: Wall Street's $16.2 billion bonus pay day. As a result Richard Trumka, head of the AFL-CIO, the nation's largest union organization, and a firm supporter of the transaction tax which was proposed in late 2009 and then promptly buried after some serious lobbying by Wall Street, will announce today "two weeks of protests aimed at Goldman Sachs Group Inc., the most profitable securities firm in U.S

European Commission To Back CDS Trading Ban As Second Round Of Strikes Cripples Greece; Greek GDP Now Expected To Miss Worst Case Scenario

The Washington Post reports that the next "Lehman-sized" event may be just around the corner , as the European Commission is now supporting a ban on trading sovereign CDS. While we are in process of tracking down whether this is actual news or just some exaggeration based on semantics, we will caution, once again, that the consequences of a CDS trading ban will be severe and very likely result in the opposite of what the EC intends on achieving. Keep in mind that everyone expected the Lehman bankruptcy to be contained as it was at best a fringe cog in the financial system

A Modest Amendment Proposal To The "Move Your Money" Campaign: Increase Your Withholding Exemptions

Over the past few months, Arianna Huffington has initiated a grass roots campaign called " Move your money " whose purpose is to forcefully shift an allocation of the deposit base from the TBTFs which have captured the government via the Wall Street-D.C. lobby complex. While we hope this campaign succeeds, we are somewhat skeptical that it will achieve its goal.

As Budget Deficit Hits Record High, Interest On US Public Debt Hits Record Low

What is wrong with this picture: the MTS just announced that the February budget deficit was $220.9 billion , after receipts of just $107.5 billion with vastly surpassed by outlays of $328.4 billion. This is a record.

ABC Consumer Comfort Index Refuses To Budge, Near 2010 Lows

The ABC Consumer Comfort Index, which is by far the most pessimistic of all confidence trackers, and which conveniently comes out each Tuesday after market close, and just came in at -49 "has been iced in a 3-point range since early January, averaging -48 on its scale of +100 to -100 this year. That ties last year’s average, the worst on record in weekly polls since late 1985." Digging into the data reveals why the non -millionaires in America - those that do not have access to the government's record excess liquidity - are just plain unhappy about the economy: "The index’s individual components tell the story: Half or more Americans have rated their personal finances negatively in 91 of the last 97 weeks.