The ‘D’ word is being uttered in the mainstream now. Despite whatever the media says concerning the ‘jobless recovery’ we’re in (which is a complete oxymoron) or the ‘summer recovery’ we’ve begun that Obama touted as truth last month, all indicators are pointing to the fact that the US is officially entering an era of [...]
Posts under ‘Economics’
Credit Crisis Was a Gigantic Ponzi Scheme, on the Scale of Enron x1000
It seems this message is becoming more mainstream these days. It’s about time. Max Keiser is right to call this financial terrorism, especially in light of the fact that we, the tax payers, have bailed them out while everyone else is suffering from their dealings, and as a result, they have had record profits this [...]
Situation Vastly Worse Than Two Years Ago in the Global Markets: Taleb
http://www.cnbc.com/id/37610064
European History Repeats Itself
“Europe’s fiscal Fascism brings British withdrawal ever closer” – Ambrose Evans-Pritchard – Telegraph “Just when you thought the EU could not go any further down the road towards authoritarian excess, it gets worse.” – Ambrose Evans-Pritchard Things are spinning out of control in Europe, economically, fiscally and socially. German Chancellor Angela Merkel said today that [...]
One Federal Reserve Chief Gets It
I couldn’t believe my eyes when I read this. A Federal Reserve senior official, Thomas Hoenig, said this today: “I am confident that holding rates down at artificially low levels over extended periods encourages bubbles, because it encourages debt over equity and consumption over savings.” Whaa?? Someone in the Fed who actually understands the root [...]
Milton Friedman on Entitlement Policies
Nobel Prize winner of economics in the 20th century, Milton Friedman, explains in this old video why entitlement policies, while well-intentioned, are fundamentally flawed at their root. Really wish we would pay attention to even recent history, let alone distant. We’re a very short-sighted people.
Economic Predictions for 2010
Not pretty scenarios. Government spending has thrown free market mechanism’s into distortion and disarray. So it should shape up to be an interesting year. There are various takes on how everything will pan out. The MSM (main-stream media) paints everything as a rosy picture: we’re coming out of the recession and things will only get [...]
Why Did the Copenhagen Deal Collapse? China
How do I know China wrecked the Copenhagen deal? I was in the room – Guardian Copenhagen was a disaster. That much is agreed. But the truth about what actually happened is in danger of being lost amid the spin and inevitable mutual recriminations. The truth is this: China wrecked the talks, intentionally humiliated Barack [...]
Obama Economic Advisors: Recession is Over/Not Over?
Obama Economic Advisor Larry Summers: “Everybody agrees that the recession is over.” Obama Economic Advisor Christina Romer: Of course the recession isn’t over. Ooops! Kudos to David Gregory for asking tough questions on the stimulus. Giving credit where credit is due. Romer’s answers on everything else (beside her response on whether or not we’re still [...]
