Archive for February, 2011

Fourth quarter revised GDP is in from the Bureau of Economic Assassination.  And the verdict is that the economy was growing slower than originally estimated at 2.8 percent, down from the 3.2 percent pimped to the press in January.  What a shocker!  Down the memory hole with that advance announcement.  If you account for the way that Washington understates price inflation in the GDP deflator you find out that the economy is actually contracting as it has been since the housing bubble popped.  All of the actions that have been taken by Fed chairman Ben Bernanke have completely and utterly failed to do anything except generate inflation worldwide in commodities, energy, and food.  Let’s hear if for America’s new Demolition Man.     More »

Deflation has become the new dirty word in the government and financial stratosphere where our political and corporate masters dwell.  The Fed has printing money at an alarming rate to stave off deflation in the markets.  According to the Keynesians, the bankers, and the government it is the greatest disaster that can hit an economy.  But what is it?     More »

The economy is now several months into Bernanke‘s Viagra treatment program otherwise known as QE2.  This misguided program of artificial stimulation claims it will make things grow and the world will be a better for it, nut just like the pharmaceutical it is only a temporary solution.   There is no real growth that will be sustained, only a symptomatic rise and fall with a whole lot of money spent and no lasting growth.  Ben is praying for a return to the days of his youth.     More »