Germany’s Biggest Bank Owns More In Derivatives Than 20X The Size Of Germany

Deutsche Bank1

Holy shit. The green bar above is the entire GDP of Germany. The blue is the entire GDP of the Eurozone. The red is Deutsche Bank’s current derivative exposure. Isn’t that nice?

Let’s put this in perspective. Germany is considered, probably correctly, Europe’s strongest economy. Deutsche Bank is the largest bank in Europe, and the argument could be made that it’s the largest bank in the world, since it has more derivative exposure than even America’s most exposed bank, JP Morgan. Europe’s economy is problematic to say the last, and Deutsche  Bank keeps dumping stock to keep up with everything. Continue reading →

Bureaucracy Always Wins

Alan Weiss describes yet another example of how the entire US healthcare system is a ripoff.

We’ve just received a bill this month from the hospital–where the care was superb–telling us that of the $125 cost of the walker, insurance paid for everything but $12.94, so would we please remit. I think you can see that it’s costing the hospital about $100 or more to collect their $12.94, and it probably cost Medicare more than $125 to reimburse the hospital partially.

A cost of $125 really ends up costing the government and the patient $300 or more. Continue reading →

Movie Reviews – First Three Months of 2014

The Raid 2

Some good movies so far this year. Very surprising. I think we may have turned a corner in terms of action movies, and a new action renaissance like the 1980s may be upon us.

Robocop – No, it’s not as good as the first Robocop, but were you really expecting it to be? This reboot is a completely different movie with a completely different tone. It shouldn’t even be compared to the original. A decent movie but it was sorely lacking in action. And by the way, Jackie Earl Haley is ultra awesome…one of the best Alpha Male actors in movies today. Just about any move he does, I’m there. Continue reading →

Snowden vs. Putin

So what happens when one of the most pro-freedom men on the planet asks a direct question to one of the most anti-freedom men on the planet? Well, the anti-freedom guy lies, of course.

The only truthful thing Putin said in his answer was that Russia didn’t have the money or the technology to be quite as 1984ish as the United States.

I can only imagine what would happen if Putin was in control of a $17 trillion economy. Damn.

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