Issuing debt and printing money do not create wealth. All they can create is a temporary illusion of wealth.
I could have written “if all the money vanishes,” but that would be misleading, for all unbacked money will most certainly vanish into thi…
One of the most important steps that we could take to bring prosperity back to America would be to nationalize the Federal Reserve. Doing so would allow the federal government to quit borrowing money, dramatically reduce taxes and eventually pay of…
October 23, 2011
The Hole in Europe’s Bucket
By PAUL KRUGMAN
What does this have to do with Europe? Well, at this point, Greece, where the crisis began, is no more than a grim sideshow. The clear and present danger comes instead from a sort of ban…
Fourth quarter 2011: New Turmoil Set to Rock Economic Foundation
The congressional super-committee is charged with coming up with $1.5 trillion of cuts eight weeks from now will almost certainly take a big whack at a category of the federal budget ca…
Ya gotta give Bernanke credit for being THE most consistent clueless (or lying) Fed Politburo Head, ever.
For, as reported here:
http://www.cnbc.com/id/44411981
…our own loveable, Pigman in Chief is now soothingly cooing that the U.S. bank’s:
TWO…
A couple of weeks ago as the markets were tanking and everyone was running around like a chicken with its head cutoff; i was quietly watching the markets, currencies and commodities and trying to decipher what was happening and all the while i notic…
Whew, and for a minute there I thought that Uncle Thug was gonna have to go through all that pesky paperwork to convert BAC into Bonnie Ma, when instead he can just have his “BFF” and business partner (in various “Maiden Lane” shams), JPM, do the deed-…
This pretty much sums up our current problem:
“We need rules to ensure that the Fed judiciously monitors financial conditions from a broad perspective. We need rules that would impose discipline when our economy runs persistently large Current Accoun…
SAN LUIS OBISPO, Calif. (MarketWatch) — Warning, the stars are aligning, again. Much faster. We’re repeating the run-up to the 2008 meltdown, leading up to the next election.
Yes, another crash is coming, una…
with the subtitle, “How Money and Debt Built the American Dream.” I thought this was going to be another crisis book–I must have read 20 of them–but it turned out to be an exceedingly pleasing historical treatise on intersection of money, debt, polit…
