Archive for November, 2010

The G20 summit ended Friday with a statement of principles but no commitment to action, leaving the United States to go it alone in dealing with its fragile under performing economy and near-double digit (or even higher) unemployment.  Leaders pledged to work together and to refrain from protectionism and competitive devaluation of currencies. They also agreed to take steps to promote growth in low-income countries.     More »

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Thursday, November 11, Armistice Day, the G20 gets another one of its economic arm-wrestling matches, otherwise know as a summit, underway in Seoul, South Korea. There is no peace in store for the attendees at the 11th hour on the 11th day of the 11th month, however, as the U.S strives to revive its economy by shifting the blame, and the pain to the rest of the world.     More »

And so it begins.   Helicopter Ben and the Fed have commenced QE2.  This time they intend to kick it up a notch since (as with everything the government spends money on to fix) they did the right thing the last time, they just didn’t do enough.  So now they are going to buy $600 billion in government treasury bonds so that the money goes straight into the economy instead of into those evil bankers’ reserves.  In addition, they are going to repeat some of the work of QE1 by printing another $300 billion to roll over those nasty mortgage-backed securities into US treasuries.  All of it spells the foreshadowing of disaster – like hydrogen instead of helium in the greatest airship of its time, the LZ 129 Hindenburg.     More »

Welcome to the helipad!  Yesterday, the Fed’s Ben Bernanke announced QE2, the great grand savior of all that is good and moral in the world economy.  This is Ben’s latest attempt to jump-start the faltering markets around the globe.  By infusing a huge amount of newly printed money he hopes to stimulate spending in the private sector, oddly by stealing from taxpayers and giving it to the federal government to spend in an orgy of new debt creation.    More »

The election is over.  Triumph is in the air.  The enemies of freedom have been vanquished!  So shall the media squawk now that our annual selection of pickpockets and muggers has been completed.  There is change in the ruling class.  There is new hope.  There is an optimistic possibility of avoiding the impending disaster that has been created by our previous succession of organized criminals in the halls of power.  Or could it just be an illusion?     More »

November 2nd.  Election day.  Today is the day all good citizens go out and proclaim (in complete and utter secrecy) who they want to be governed by.  Today two wolves and a sheep decide what’s for dinner.  Today we endorse theft on a monumental scale, to the tune of 50 percent of our income.  Today we select our armed public robbers, er, servants.     More »