Terrifying headline? Certainly so if you work for the Fed, or ever worked for the Fed. Yet, it is what is called for according to law. Having experienced the harmful results of a paper currency manufactured at will, early US statesmen tried to forbid it from ever happening again. Article [...]

I suppose I shouldn’t laugh, but I found humor in Eric Fry‘s description of Chairman Bernanke’s performance at Jackson Hole: Like a guy who falls down a flight of stairs, then stands up and says, “I meant to do that,” Bernanke insisted the economy’s dismal trajectory is neither particularly surprising [...]

Fed Chairman Ben Bernanke is out of options and luck. Of course, he couldn’t say that at Jackson Hole. Instead, he had to pretend that his magic was still strong and would be used, if necessary. By customizing mixtures of various powders (some apparently never used before), he would produce [...]

For those wanting a primer on QE and its effect on the value of currency, I recommend that you read John Hussman’s article. As a teaser, Hussman had this to say about Ludwig von Mises and Ben Bernanke regarding their views on inflation/devaluation: My impression is that Ben Bernanke has [...]

William Black was one of the tough regulators during the S&L crisis. He knows what is going on and knows what needs to be done. According to Mr. Black: The FDIC is sitting there knowing that it has both the residential disaster and the commercial real estate disaster [and] knowing [...]

The inflation-deflation debate continues. James Quinn, however, questions how real deflation is. WHERE’S THE DEFLATION BENNIE? The data doesn’t format well when I copy it from the BLS website. Here is a link to the PDF version: http://www.bls.gov/news.release/pdf/cpi.pdf The government keeps telling you about the dangers of deflation. The July [...]

EconomicPolicyJournal‘s take on what the Fed did yesterday: Thus, at this point, this move has to be classified as jawboning in the sense that it is not a clear money supply booster as say a cut in the interest rate on excess reserves would be. That said, under perfect storm conditions, [...]

The economic condition of the country continues to decline toward its rendezvous with an, as yet, unknowable catastrophe. Speculation regarding this outcome is natural because self-interest, if not self-preservation, is at stake. Here is but one possibility. It is not a prediction, but a look at a series of not [...]

Inflation is neither strategy nor solution; it is the last gasp of a desperate ruling class. Inflation is the inevitable ending of this awful economic crisis. The only questions are how much and when. Rising support champions inflation as a salvation strategy. Richard Russell in a recent newsletter provides the [...]

The “Pretence of Knowledge” was the title of economist Friedrich Hayek’s 1974 Nobel speech. In his first few sentences, he described the then-prevailing economic condition in words appropriate to today: … [this economic condition] has been brought about by policies which the majority of economists recommended and even urged governments [...]

The Fed is clueless. Fed Chair Ben Bernanke now describes the condition of the economy as “unusually uncertain,” a descriptive phrase fogged up enough to have been invented by his predecessor, Alan Greenspan. The Fed has little idea what the economy is doing or why. Mr. Bernanke, despite his pomposity, [...]

There are some pretty smart people that are getting awfully scared about our economic situation. Most of these folks did not become successful by being “kooks.” All excerpts below come from a column written by Max Abelson. Asked about the biggest risks to Liberty, his media conglomerate, Mr. Malone said [...]

While one can never be certain about how this economic crisis will play out, most of us have various probabilities of certain events happening and use these to develop forecasts. John Mauldin (see writeup here) recently explained how difficult such forecasts are because of a complex chain of interdependent variables. [...]

Hat Tip to Daily Bail. James Quinn’s CommentaryWait til You See the Banking Crisis!Bernanke Bears the Brunt of the Jokes This Week

Inflation is Inevitable The debate continues over whether inflation or deflation is our fate. I believe that we will ultimately end up in a massive inflation, possibly hyperinflation. My reasoning has always been based on how I anticipate politicians to react to the soon-to-be recognized Depression that we are in [...]

An article by Michael Pento describes the Fed’s predicament rather well. Because of the continued slowing in the economy (what recover?), he believes the next Fed move will be to ease even more: The next ease from the Fed will most likely be in the form of ceasing to pay [...]

The economic packages employed by the Bush Administration and extended by the Obama Administration are being increasingly questioned. Similar stimulus policies have been used for 50 plus years, although never in doses so large. “Stimulus” is merely a euphemism for inflationism and has been since the ideas of John Maynard Keynes [...]

Paul B. Farrell of Marketwatch bemoans the charade known as political reform of the financial markets: Obama is now Wall Street’s best asset, their new Trojan Horse replacing Hank Paulson, a troika with Ben Bernanke, Tim Geithner. Wall Street always gets what it wants. And you can bet they’ll cough [...]

Bill Black provides straightforward, no-nonsense testimony to the House Financial Services Committee. For anyone that believes that the financial system is honest and not corrupt, please watch this short video. [youtube]http://www.youtube.com/watch?v=3-HTylLzXu8&feature=player_embedded#![/youtube] More of Washington’s CharadeBernanke Bears the Brunt of the Jokes This WeekThe Fed Can’t Do It, But That Doesn’t [...]

We know that the Federal Reserve is little more than an inflation machine. Since its inception in 1913, the value of the dollar has fallen by about 96%. The biggest part of this decline (80% points) has been since 1971 when the US (and the whole world) went on a [...]

This conversation, at least on Ben Bernanke’s part, is surreal. Legitimate questions on Ron Paul’s part, illegitimate answers from Bernanke. Does Bernanke assume that all citizens are morons? God Help Us! The entire world is bankrupt and pretending they are not by printing money everywhere. [youtube]http://www.youtube.com/watch?v=JzO_D8TjvKw&feature=player_embedded[/youtube] Bernanke Bears the Brunt [...]

“The bold effort the present (central) bank had made to control the government … are but premonitions of the fate that await the American people should they be deluded into a perpetuation of this institution or the establishment of another like it.” President Andrew Jackson “I believe that banking institutions [...]

Hopefully, nothing! We know that Ben Bernanke pledged to stop quantitative easing (QE) at the end of March. We have now passed that point, and it remains to be seen whether he keeps his promise. In Obama’s “Ides-of-March” Moment is Near, the likelihood of that happening was judged as not very [...]

The Fantasy World as Seen by The Federal Reserve and The Washington Post Is our populace considered so ignorant that they can be told anything? Or, is it possible that our leaders are so dumb as to not recognize reality? Neither hypothesis (and they are not mutually exclusive) is flattering [...]