It has been a continuous confirmation over his tenure, of what the Austrians/libertarians have long understood, that Greenspan's policies would get us into trouble. We're now in stagflation and the potential ways out are going to be very catastrophic
Stocks finished near session lows in choppy trading Wednesday, with the Dow and S&P wiping out all of the previous session's gains led by financials, as investors continued to cautiously monitor developments in the European banks.
According to a recent story in the Wall Street Journal, a construction worker by the name of Gutierrez bought a Vallejo, California home in 2003 for $340,000, putting a measly five percent down and paying the remainder with a $322,700 loan, which res
Economists estimate the "multiplier" from government spending at about 1.5. That means for every $1 cut in government spending, about $1.5 dollars are taken out of the economy. The first year of cuts are therefore $375 billion to $400 billion in te
I have never seen such bearish language used out of the Fed. Words or phrases like inflation “moderated”, indicators suggest “deterioration”, spending has “flattened out”, growth is “considerably” lower and “downside” risks...
So we are left with a massive amount of debt, a massive amount of capital and labour that is unprofitable in the world we face, and a balance sheet of insufficient resources to keep the illusion alive.
For the fifth consecutive month, NFIB’s monthly Small-Business Optimism Index fell, dropping 0.9 points in July—a larger decline than in each of the previous three months—and bringing the Index down to a disappointing 89.9.
That's a liquidity trap: those with cash and the ability to borrow have no desire to either spend or invest in new employees or business assets. Their cash (liquidity) is "trapped" in the sense they have no desire or need to spend it or invest it.
Which is why we wonder, should the ongoing rout accelerate, to an extent driven by the decimation in the Korean Kospi, down -9.5% at last check, but also due to increasing worries the Fed may not announce QE3 tomorrow...
The Dow Jones industrials fell 634.76 points. It was the sixth worst point decline for the Dow in the last 112 years.... Investors desperately looked for safe places to put their money and settled on U.S. government debt - even though it was
Gold vaulted above $1,700 an ounce for the first time on Monday, after the respective pledges by the G7 and the European Central Bank to quell the turbulence in the financial markets did nothing to put investors at ease.
Traders said the ECB had m
When George W. Bush took up residence in the White House in January 2001, total U.S. debt stood at $5.95 trillion. Last week it was $14.3 trillion, with $2.4 trillion freshly authorized by Congress Tuesday.
Ten years and $8.35 trillion later, what
The reason the soverign debt issues in Europe will not go away is the same reason that the US economy's woes cannot be fixed – because alternative media is opening people's eyes to the nature of the world's central bank controlled...
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