Monty Pelerin's World » 2010 February

No End to Economic Stupidity

economy, employment, Favorites, Government Tagged with: Federal government of the United States, Great Depression, Lawrence Summers, New York Times, Presidency of Barack Obama, President of the United States, White House, World War II

Feb 282010

We know there is virtually no business experience amongst the President’s advisors. That has been documented in various places. Yet that could have been inferred from the number of wrongful policies that have been proposed or implemented. There are so-called

Crowding Out Your Future

banks, Government, Insolvency Tagged with: Bank, Bear Stearns, credit, Economic, Excess reserves, Federal government of the United States, Federal Reserve, Federal Reserve System

Feb 282010

“Crowding out” is an effect claimed to occur when governments run deficits and have to borrow to finance the deficits. It refers to the government using funds via borrowing that otherwise would go to private borrowers. Hence, they are “crowding

2010 will be a watershed election

Government Tagged with: Arthur Lee, Congress, Democratic, Government, politics, Tea Party protests, United States, United States Congress

Feb 272010

The following appeared on American Thinker today. An expanded article dealing with the same topic will soon be posted at Monty Pelerin’s World. February 27, 2010 2010 will be a watershed election Monty Pelerin Public concern for the sustainability of

Tough Guy Bernanke Blows Smoke

Bernanke, Favorites, Fed Tagged with: Ben Bernanke, Chair of the Federal Reserve, Congress, Federal Reserve Chairman Ben Bernanke, Federal Reserve System, Money supply, United States, United States Treasury security

Feb 272010

Tough Guy Bernanke Blows Smoke Fed Chairman Ben Bernanke appeared before Congress this week wearing his “bad guy” face. I did not watch his testimony either day. Apparently, based on news reports and blogs, nothing of significance happened on the

Feb 272010

“No Recovery?” In the best Claude Rains fashion, “I am shocked, shocked!” There is no economic recovery, and there will be no economic recovery this year and probably not next. Yet the media, mainstream economists and the Administration insist we

ObamaCare in Pictures

healthcare, humor Tagged with: Abraham Lincoln, Gadget, IPv6, Radio-frequency identification, Rube Goldberg, Rube Goldberg machine, Technology, United States

Feb 262010

The unpopularity of Obamacare continues. The image to the right, obtained from the American Thinker site, provides visual evidence of what most Americans sense. Rube Goldberg would be proud of this contraption. Of course his health did not depend upon

FED Bunkum

Bernanke, Fed, Treasury Tagged with: Business, Federal Reserve System, Government, Interest rate, Money, Quantitative Easing, United States Treasury security, Wall Street Journal

Feb 252010

A Wall Street Journal article reported: “The Treasury said it will borrow $200 billion and leave the cash proceeds on deposit with the Federal Reserve, reviving a program that will make it easier for the Fed to raise interest rates

One of Our Banks is Uneasy

China Tagged with: Barack Obama, China, Dalai Lama, People's Republic of China, Politburo, President of the United States, United States, United States Treasury security

Feb 252010

China increasing their sales of US Treasuries cannot be good news. Ambrose Evans-Pritchard writing in the Telegraph speculates that the sales are being used as a foreign policy tool to pressure the US. Whether or not that is the case,

Feb 242010

In Jimmy Carter’s reign, the Wall Street Journal editorialized about “Ratcheting to Ruin.” The title derived from the fact that each cycle high in unemployment was higher than previous ones, and each cycle high in inflation was also. “Stagflation” was

What Crisis is Being Solved?

economy, ethics, Favorites, morality Tagged with: Economic, Fiscal policy, Government spending, H. L. Mencken, Harvard University, Keynesian Economics, Recession, Robert Barro

Feb 232010

According to calculations by Robert Barro, Harvard University economist, the stimulus package harmed the economy. Mr. Barro, concluded in the WSJ: … viewed over five years, the fiscal stimulus package is a way to get an extra $600 billion of

Marco Who?

Government Tagged with: Charlie Crist, Florida, Florida Republicans, Marco Rubio, Rasmussen Reports, Republican, Speaker, United States Senate

Feb 222010

Who is Marco Rubio? It is likely few know. More inside the state of Florida are learning his name, much to the dismay of incumbent Republic Governor Charlie Crist. Latest polls suggest that Crist will not survive the primary for

History: Monetary Cranks

banks, Fed, History Tagged with: Central bank, Economic, Federal Reserve, Federal Reserve System, Inflation, Lawrence Reed, Monetary policy, Money

Feb 222010

Image via Wikipedia “Monetary Crank” was a derogatory term used in the past to refer to crazy monetary theories and/or schemes. Its use has fallen out of favor, yet its applicability today is as relevant as it was in the

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Random Quotes

The prospect of domination of the nation's scholars by Federal employment, project allocations, and the power of money is ever present – and is gravely to be regarded. Dwight D. Eisenhower
The government is good at one thing. It knows how to break your legs, and then hand you a crutch and say, “See if it weren’t for the government, you wouldn’t be able to walk”. Harry Browne
In the discharge of my official duty I shall endeavor to be guided by a just and unstrained construction of the Constitution, a careful observance of the distinction between the powers granted to the Federal Government and those reserved to the states or to the people, and by a cautious appreciation of
those functions which by the Constitution and laws have been especially assigned to the executive branch. Grover Cleveland
One of the greatest delusions in the world is the hope that the evils in this world are to be cured by legislation. Thomas B. Reed (1886)
Bacchus, n.: A convenient deity invented by the ancients as an excuse for getting drunk. Ambrose Bierce
You can fool some of the people all of the time, and all of the people some of the time, and that's good enough. Edwin Vieira

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