This re-shoring of lost American jobs is being nicely helped along by the fracking boom, making energy costs here more and more competitive compared to the rest of the world.
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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.
The headlines were deceiving! Imagine that! I was so surprised!
The German model highly touted as the perfect solution to reviving economies has now been shown to be not only a myth but a fraud.
This is speculation on my part, but it does seem reasonable. Wall Street is anticipating something positive and it’s not in the economy. Maybe the Tobin tax has something to do with it.
Theft is theft. Robbery is robbery. That it’s being done in broad daylight by an institution that is supposed to protect your money simply adds to the outrage. The email sent to Bank of Cyprus depositors is being received by every bank depositor in the world.
The details of the deal are ugly. But the real cost is the loss of national sovereignty. Cyprus is now ruled by the Eurogroup, and is now just a vassal state.
Predictions for the reestablishment of the gold standard in the next few years are optimistic. But at least the conversation is beginning.
China and Japan continue to invest their surpluses in US government debt. Where else would they go?
There are moments of clarity, when things all of a sudden come into focus. This is one of them.