One can dream, can’t one?
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The MSM bally-hoo leaves out essential pieces of Summers’ background. With his towering moral decrepitude, he would have fit right in at the Fed.
Notice, please, that all the conversation is about the candidates and not about the Fed. This is classic misdirection of attention by the media.
Is this the big one? Is this the end of the long bubble the Fed has been blowing since 2008? Could be.
Another of the Fed’s unintended consequences is the freezing of the very credit markets they are trying to stimulate.
The real world is about to disrupt standard Keynesian thinking. It’s about time.
The Fed won’t run out of bullets until they run out of digits.
Within days of each other, two announcements concerning the future of the US currency appeared in the popular press, and each avoided any mention whatsoever of the primary driver of the changes. First was the announcement on November 26th from Secretary of the Treasury Timothy Geithner that the U.S. Mint will begin removing pennies and nickels […]
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 […]
Graham Summers, writing for ZeroHedge, has pointed out that Fed head Ben Bernanke hasn’t done any new buying of securities despite his promise to do so back in September. The Fed publishes its balance sheet. You can see it here, in graphical form. As Summers said, if Bernanke was buying, how come the measure of money […]