It’s a game, a charade. Even if the central bank’s president lies through his teeth, his audience believes him anyway. Is there no one there to exclaim: “The emperor is naked!”?
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Mario Draghi. Who? According to Matthew Lynn, writing at MarketWatch.com, “measured by what [he] can actually do, the most powerful person will soon be the president of the European Central Bank, the Italian banker Mario Draghi.” He explains: In the last few weeks, we have seen an extraordinary expansion of the European Central Bank’s powers. It can […]
For many, Austrian school economics is theoretical nonsense. It’s nice to read about. It’s nice and logical. It’s common sense economics. But it really can’t apply to the real world. After all, with paper currency backed by nothing and central banks running the show, Austrian thinking is strictly theoretical. Or maybe not. Frank Shostak, a […]
Patrice Hill of the Washington Times makes a very good point: the impact of the so-called “fiscal cliff” – Taxmageddon – is already being felt in the economy. People are frightened about the future, and so they are hunkering down. And it’s no wonder. Here’s what the “cliff” looks like: reductions in itemized deductions and […]
Divorce is ugly. Especially if you’re the one paying most of the bills. And the other party has a gun.
Ambrose Evans-Pritchard: Deposit flight from Spanish banks smashes record in July Data from the European Central Bank shows that outflows from Spanish commercial banks reached [$92 billion] in July, twice the previous monthly record. This brings the total deposit loss over the past year to 10.9 percent [of deposits]… In any capitalist economy, bank deposits […]
New prime minister, same old destructive behavior. Some things never change.
One thing about totalitarians: at least they are consistent. If something doesn’t work, they keep trying to make it work. Choosing a free market alternative isn’t even part of their universe because it involves freedom, which means freedom from government, which is antithetical to them.
Hollande has soap for brains. A committed socialist, he isn’t interested in what works. He’s interested in what promotes his ideology. In normal times what he is proposing would be called insanity. But we live in an insane world where sanity is the new insanity…
Jim DeMint is a fighter. Despite the odds he keeps bringing bills and amendments like this one to the floor. The evidence that we need a change in the Senate keeps piling up.