Posts Tagged ‘quantitative easing’

The last couple of weeks we have been witness to the exposure of the complete fallacy that we practice unbridled laissez-faire capitalism in the United States of America.  Instead this country embraces insider corporate and government cronyism that enables bailouts, tax breaks, and preferential treatment for the elites that control banking and politics.      More »

As Japan is suffering through a nuclear disaster their government is doing what governments always do when their protection racket is exposed for the gigantic fraud that it is.  They are downplaying the size and scope of the disaster, denying any responsibility for design flaws and lack of preparedness, and publicly posturing to hide their complicity and inability to resolve the problem. The Japanese people are stoically dealing with their individual tragedies without complaint, without violence, and without theft – a stark contrast to political institutions that heap more woe on their constituents by trying to tax and spend their way out of calamity, just as we do in the US.     More »

This week we learn that in the month of February the Beltway Burglars ran a deficit of 225 billion dollars.  That is 2.7 trillion dollars – nearly a trillion dollars more than the current official annual budget deficit estimate.  Now DC has been saying for months that the economy is showing signs of growth.  If this is growth the US economy is destined to return to the womb.     More »

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 »

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 »

This week a great entertainer from my childhood passed away – Dandy Don Meredith.  The man responsible for the longest pass play to date in Dallas Cowboys history, and the comedian of the hot new Monday Night Football broadcasts still looms large in my memory.  I can still hear him singing near the end of a game that had gotten out of hand with one team thumping the other, “Good night the party’s over…”  I can only assume that right before he died he was singing the same tune to the US government, the Europeans, and the Federal Reserve. The market was thumping the governments, central banks, and Wall Street elitists.     More »

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 »