An interesting read on the Great Depression from an Austrian perspective. Something not taught in the whitewashed history books.

Many have warned about the impossible mathematical situation the Federal Government has maneuvered its way into. This problem existed before President Obama, although he surely has accelerated the date with bankruptcy more than anyone else. I have laid out the absurd condition and shown why it is impossible to escape [...]

The following article by Michael Eden is one of the best summaries of what has happened under the reign of The One: Articulate Incompetent Obama Leads Nation To Great Depression Unemployment Levels Robert Blagojevich – the brother of Democrat Governor Blagojevich – labeled Jesse Jackson Jr. as an “articulate incompetent” (actually [...]

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 [...]

Walter Williams is amongst my favorite commentators (and economists). He has a knack for identifying the critical aspects of complex issues and simplifying them for layman. In a recent piece, published on Townhall, Dr. Williams argued against the presumed economic successes of FDR during the Great Depression. Political myths apparently [...]

Atlas is shrugging. John Galt has his bags packed and his plane is warming up for a one-way trip. As this scenario plays out, the Lords of the Political Realm don’t appear to care. They either have no understanding regarding what is happening or they just don’t care. Or possibly [...]

The Failure of Keynesian Economics by Steven Kates That anyone can still believe Keynes’s General Theory holds any answers to the world’s economic problems is one of those sad facts that make one realize just how difficult it is to gain headway in the dismal science. An article on John Maynard [...]

It is my contention that we are already in or headed for another Great Depression. This view is not new, nor is it unique. In Key Indicators of a New Depression Neeraj Chaudhary of Euro Pacific Capital feels the same way. He also suggests that we may end up in [...]

Our government and their esteemed economists tell us that we are coming out of the recession. Using their statistics, they claim we are on our way to economic recovery. According to them, there is no possibility of a double-dip or another Great Depression. Yet these are the same people that [...]

We take so much for granted in our lives. Markets and social cooperation are second nature to us. They ensure that goods and services are readily available. Decency and trust in our fellow man is a part of our social fabric. But, what happens if all this suddenly changers? Many [...]

John Williams sees a hyperinflationary Great Depression in our future. Mr. Williams runs the Shadowstats.com website. He provides adjusted figures for such government released measures as GDP, inflation, employment, etc. Williams provides his rationale in an interview here. He is an astute analyst whose opinion is respected. US is BankruptJohn [...]

The forces of the worldwide recession are starting to be felt in defensive moves. According to Bloomberg: “Initiatives to curb imports are rising around the world, threatening ‘disastrous consequences,’ the head of the Organization for Economic Cooperation and Development said today.” The same motivations produced the Smoot-Hawley legislation during the [...]

Image via Wikipedia Keynesian economics is mostly a fraud and always has been. It has little theoretical basis and no empirical support. I have posted on this topic before, most recently here. Unfortunately, our school system has convinced the public that government is the source of most good and can [...]

Can We Have Another Banking Holiday? “But most commercial banking is “deposit banking” based on a gigantic scam: the idea, which most depositors believe, that their money is down at the bank, ready to be redeemed in cash at any time.” Murray Rothbard One of the most painful and important [...]

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 economists in the Administration. Larry Summers, for example, is a [...]

Economic conditions are bad. No one except a political lackey would attempt to argue otherwise.  A post in American Thinker by Randall Hoven dealing with unemployment is reproduced below.  The numbers are shocking and tragic. Most accounts believe that the current employment situation is long-term or “structural.” That is, high [...]

The Great Depression: A Diary Historical diaries are intriguing because we know how the era or big picture ended. When the period or person is significant, the day-to-day trivialities take on special meaning. While the trivialities are not too dissimilar to our own minute by minute, hour by hour and [...]

December tax results disappoint. This from the Wall Street Examiner: Month to date tax receipts are now in for the entire month of December. They’re down 7.7% from December 2008, which is exactly the same rate of decline as November’s. We know that the TBAC and Treasury officials were not [...]

Casey Research provided the following in an email. Doug Casey is a savvy guy as is David Einhorn who is quoted below. For investors, this might be a good read. At least it should cause you to examine your own investment assumptions. The Gorilla Trade Dear Reader, It has become [...]

The Fed has reached the point where there are two choices — Allow the government to shut down or allow itself to be the Treasury’s ATM machine. Inflation is, as Milton Friedman was fond of saying, “always and everywhere a monetary phenomenon.”  It is insidious. It becomes a part of [...]

A few days ago in a post entitled Wisdom: To Whom You Listen is Important comments and forecasts from the 1930s were presented. The examples were obviously handpicked and were ridiculously wrong. It was stated: Years from now a similar collection of quotes from our time will be collected. The [...]

If the Government confiscated everything, the social programs would still be $50 trillion short and the Government would still be bankrupt. Furthermore, no company or individual would be left with anything. The economy is in bad shape. Some say it is worse than any time since the Great Depression. I [...]

History Only Rhymes; Optimism Always Repeats As we move through life, day by day, it is difficult to see the history that is being made. There are exceptions, Pearl Harbor, 911 and other cataclysmic events. Most history moves slowly and blends in with the ebb and flow of daily and [...]

Yesterday I posted an analysis of Dr. Alan Blinder‘s  job creation proposal on American Thinker and then updated and reposted it here. As someone relatively new to “blogging,” I am grateful for the interest and comments  received on AT. To look at some of these comments, go here. Thanks, readers [...]