Star Parker is a remarkable person, but she is not an economist. Perhaps that is a key reason she sees the obvious while “real” economists don’t. The so-called professionals need to be blinded by data, trends, regression analyses and differential equations. Common sense is displaced by form and technique. It is as if so-called economists want to make things more [...]
economy
Investing In A Pretend Economy
We live in a pretend economy. It is important to recognize this condition, especially if you are an investor. Current market behavior is concerning. Bonds and stocks remain volatile and near record levels. Markets ignore the continuing stagnation in the pretend economy, buoyed apparently by government liquidity injections. To justify investing today in these markets, one must anticipate one or [...]
Hume, Keynes, Mises, Kuhn and Mankiw
Regular readers know that I am fond of using quotes to emphasize issues or make points. These quotes, especially when they are old, show how there is very little new in the world and that our ancestors, in many respects, were as wise or wiser than we. Too often knowledge is lost or ignored simply on the basis of its [...]
Government Data — Follow Up
Yesterday’s post entitled Government Data provided a case for government figures being untrue. That article was about government changing definitions or actually manipulating data to make outcomes appear better than they actually are (were). Victor Davis Hanson provides a marvelous discussion of this topic: There is a pattern here. Changes in data collection seem to have a predictable result: Inflation [...]
Government Data
Government data should not be accepted at face value. Individuals and governments like to be seen in favorable light. When they control the data, the data becomes fudged. The more powerful the entity, the less it can be questioned. As government grows in force and strength, government data deteriorates. James Quinn, utilizing the work done by John Williams of Shadowstats.com, [...]
Reality Can Be Deferred But Not Avoided
Reality is a relentless force. It can be ignored, even hidden for a while. However, it is a force that cannot be contained forever. As the myth of government deteriorates, it becomes necessary for government to support the belief that it is in control and making things better. Things are not improving and cannot improve given the economic distortions in [...]
Restoring Economic Growth
The issue of restoring economic growth to the US and world economies continues to be a problem. Nothing that is currently being done is going to solve that problem. It will worsen the situation. It is unclear whether government is merely confused or believes it cannot afford the costs of returning economic growth to a floundering economy. These costs are [...]
Precious Metals — Are They Back?
The recent resurgence in precious metals prices produces renewed interest in this sector. Are precious metals out of their funk? Can they only go in one direction from here? The simple answer is probably “Yes, they are out of their funk” and ”No, nothing is ever a sure thing!” Nothing goes in only one direction, at least not over a [...]
“Unexpected” Economics
There is no economic recovery. The recession never ended, it merely got covered up in the flood of liquidity provided by the Fed. In an attempt to convince the public that the economy has regained its health, the Administration and its supporters spin and lie about the true condition of the country. Recessions do not end when the participation rate [...]
The Ides of March
Economists are trained to never give a date and a number. That way, a forecast can never be wrong. Jack Kelly in this piece in Real Clear Politics violates this rule. He is a journalist and apparently has not learned the weasel techniques of economic forecasting. I agree with his overall outlook, but don’t know whether his prediction will be [...]
How The US Paper Tiger Crumbles
The Statists who take pride and comfort in the US being the world’s foremost military power (which others see as bullying) seem not to notice how unsustainable this condition truly is. History teaches us that all empires die from within. All extend themselves beyond what they can support. The US is no different. Nations before and after Rome rose and [...]
Global Economic Meltdown Near?
There is little to add or needed for this new list provided by Michael Snyder. As usual, he has provided a scary view of what likely awaits us: 20 Warning Signs That a Global Economic Meltdown is Near Guest post by Michael Snyder Have you been paying attention to what has been happening in Argentina, Venezuela, Brazil, Ukraine, Turkey and China? [...]