August, 2011

The Dope Gap

Regular readers know my feelings regarding the stock market and how it is likely greatly overpriced. I consider it insanity to be putting money into today’s markets (other than selected investments pertaining mostly to “hard assets.” Michael Panzner has provided the perfect “a picture is worth a thousand words” illustration of market apparent irrationality. He terms it The Dope Gap:

So, Gold Got Hit. So What!

Recent activity in the price of gold is put into perspective by Eric Fry: In the span of just a few trading days last week, the gold price plummeted from a high of $1,910 an ounce last Monday to a low of $1,712 three days later. The folks who never owned gold in the first place, and who have always [...]

An Untenable Arrangement

A wonderfully simple explanation of government and how it plunders. The political parasites have grown fat at the expense of the productive. How long will this continue?

President Empty-Suit

President Obama came into office a mystery. Similar to the mythical Bagger Vance, he appeared out of the mist. No one knows where he came from (or was born) or much of his past. Even places he claims to have been, there are few if any who remember him. For one so blessed with charisma, that is very strange. The [...]

No Joy or Policies in Mudville; Mighty Ben Has Struck Out!

There was no joy in Mudville  Jackson Hole this year. The central bankers of the world have mucked things up so badly that not even their fancy words and Wizard of Oz pronouncements were enough to penetrate the gloom. The US economy and Ben Bernanke’s optimism have deteriorated from the prior year. Fed policies have not worked, and there is increasing recognition [...]

Paul Samuelson Recognizes Austrian Economics

Mises Wins the Nobel Prize in Economic Science, well sort of …  by Peter Boettke In his obituary of Bertil Ohlin, Paul Samuelson plays the game of “what if” — in this case, “what if the Nobel Prize was established in 1900, then who would have won the prize between 1901 and 1930?” This is list of names Samuelson thinks would have [...]

Warren Buffet – Savior or Angel of Doom?

The dire financial condition of the US has not been altered by Warren Buffet’s recently announced investment in Bank of America (BAC). His participation should not be read as a sign that Bank of America or the economy is improving. The Ruling Class’ Intended Meme Warren Buffet, according to Forbes, is the world’s third richest person.  Other than Bill Gates, he is [...]

QOTD — Keynesian Economics is the Tool

Lew Rockwell on Keynesian Economics: In the market economy, there is a long-run tendency for errors to be corrected and replaced by different practices that uplift the people. In government, there is a long-run tendency to keep trying the same thing again and again, no matter how often or how badly it fails. Keynesianism is, after all, as Joseph Salerno points out, [...]

The Bernank’s Plan

The charade that is represented by world governments is becoming more strained by the day. Ben Bernanke’s decision to do nothing was ridiculous. Not in the sense that he can affect outcomes in any way shape or form, but in the sense that he can prolong the agony that the economy must endure. According to Bruce Kasting: The stock market’s [...]

Great Depression II May Be Just Around The Corner

I have no difficulty accepting the conclusion expressed by Phoenix Capital: However, regardless of when or if QE 3 comes, the fact remains that the financial markets are on DEFCON Red Alert today.  Indeed, I fully believe we have entered the Second Round of the Great Crisis: the Sovereign Default Round. The First Round (2008) was just a warm-up. This time [...]

Our President

The bizarre background of the President is illustrated nicely in this video:

Charlie Reese on Government

 Below is an email that has been around. I thought it might be timely to post it: A very interesting column.. COMPLETELY NEUTRAL Be sure to Read the Poem at the end. Charley Reese’s final column for the Orlando Sentinel… He has been a journalist for 49 years. He is retiring and this is HIS LAST COLUMN. Be sure to [...]