The Fed has no Cred
Of course I’m not referring to credit, the Fed has plenty of trees, but they are completely void of credibility. Bernanke didn’t see the subprime mess coming so why should I care how long he thinks it will continue to ravage the American economy? He’s not exactly an impartial observer. The subprime crisis is not a failure of market
I’m getting tired of hearing people like George Soros happily declare subprime proves “free market fundamentalism” will ruin the financial sector. How anybody can describe a system in which the price of money is fixed by a few secretive men in a marble palace “free” or “market” is beyond me. This crisis is not a failure of market, it’s a failure of government. Inflation is not caused by declining interest rates
Many on the street have accepted a common misconception that threatens to ruin your portfolio. They want you to believe a temporary end to Fed rate cuts will somehow indicate a shift to hawkishness with regards to inflation. That’s total nonsense. Interest rates do not need to be in continual decline to influence inflation, simply maintaining interest rates at a low level will do the trick. Inflation is not caused by the slope of rate changes, it is literally the new money pumped into the system. The fabulous life of John McCain
He thinks America’s economic problems are “psychological”… just another clueless politician. Nouriel Roubini visits Canada to talk depression
This TVO interview is from April, 2008. (click below to see the rest of this video) The Human Cost of War
How America trains people to kill, and the result. America is Bankrupt
America’s top accountant, Comptroller General Dave Walker explains. From an Austrian economics perspective
I came across this interesting post on reddit, enjoy: We have a farmer, a carpenter, a tailor, and a lumberjack. Each year, each person produces 40 units of production. The money supply is fixed at $100. Each person has $25 stuffed under the mattress. Twice a year, one worker will pay $5 to another worker for 5 units of the other workers production. In other words, each person has a yearly demand for 10 unites of clothes, food, furniture, and lumber at current prices. Each person owns a house, which , if sold on the open market, would command a price of $10. |
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