I don’t think it’s possible to make too much of this: capitalism, real capitalism, is making a revival, first in perception, then in reality. The momentum could carry over to the next two generations at least.
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Is this the big one? Is this the end of the long bubble the Fed has been blowing since 2008? Could be.
By failing to include in its analysis anything to do with the massive unfunded liabilities the government faces, S&P’s announcement becomes totally useless and counterproductive. By failing to inform, it becomes a party to the crime.
Furman is one in a long line of Keynesian interventionists who control financial policy in this country. He’s a clone, more like a star-trooper from Star Wars: logic, facts, history, failure – these don’t matter. It’s the implementation of government control that’s the goal. Furman will work to advance it.
When someone of this stature suggests doing what many of us are already doing, it is most encouraging to us to continue to do it.
Both Texas and North Dakota are drivers of the economy, but North Dakota’s numbers are much more impressive.
In its candid assessment of the failure of the IMF and its partners to rescue Greece from its own foolishness, the IMF staff fails to mention the main lesson: free people left to their own devices can solve problems better than governments ever could.
Another of the Fed’s unintended consequences is the freezing of the very credit markets they are trying to stimulate.
Ferrara should have used the recovery from the Depression of 1920-21 as his model, when the relatively free market rebounded mightily, recovering fully within 18 months.
Polls taken by the prostitute press aren’t to be trusted. Rasmussen has a closer feel for what people really think.