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Un-Merry Christmas: The Perverse Incentives To Over-Consume And Over-Spend

Authored by Charles Hugh Smith via OfTwoMinds blog, Isn't it obvious that if we set out to design the most perverse, toxic and doomed system possible, we'd end up with the Keynesian Cargo Cult's insane permanent growth/Landfill Economy? Few topics are off-limits nowadays: the personal and private are now splashed everywhere for all to see. […]


No Peace In Our Times: The Inevitability Of War

Via GEFIRA, “While people are saying, peace and safety, destruction will come on them suddenly, as labor pains on a pregnant woman, and they will not escape.” Are you, man or woman of Christian and European heritage, aware of this prophecy or do you prefer to live in a fancy world of happy-clappy wishful thinking […]


How Government Inaction Ended The Depression Of 1921

Authored by Lew Rockwell via Mises Canada, As the financial crisis of 2008 took shape, the policy recommendations were not slow in coming: why, economic stability and American prosperity demand fiscal and monetary stimulus to jump-start the sick economy back to life. And so we got fiscal stimulus, as well as a program of monetary […]


In Defense Of Bitcoin Hoarding

Authored by Jeffrey Tucker via The Foundation of Economic Education, In Internet slang, they are called the HODLers, the people who are clinging to their Bitcoin and refusing to spend it. Instead, they just refresh their wallet apps, feeling richer by day while deferring consumption. Many of these burgeoning millionaires live like paupers. I’ve met […]


Doug Casey On Why Millennials Favor Communism

Via CaseyResearch.com, Communism is better than capitalism… At least, that’s what a growing number of young people in the U.S. think. I wish I were joking. But a recent study from the Victims of Communism Memorial Foundation, a D.C.-based nonprofit, found that half of the millennials it surveyed would rather live in a socialist or […]


BoJ Briefs Reuters: We’ll Let 10-Year Yield Rise Above Zero Percent Target Around 1Q 2018

It looks like BoJ Governor, Haruhiko Kuroda’s, minions are getting out and about to brief the financial news services that the biggest stimulator of all the central banks might reduce stimulus earlier than expected. The recipient of the unofficial briefings by BoJ officials is Reuters, which has this to say. The Bank of Japan is […]


Stockman: US Entry Into World War I Was A Disaster

Authored by David Stockman via The Daily Reckoning, 103 years ago, in 1914, the Federal Reserve opened-up for business as the carnage in northern France was getting under way. And it brought to a close the prior magnificent half-century era of liberal internationalism and honest gold-backed money. The Great War was nothing short of a […]


We Are Already In Depression (If Borrowing Money Is Not Income)

Via Baker & Company Advisory Group, The U.S. economy is not as solid as it appears. Statistical anomalies hide profound weakness. I will examine actual GDP and actual employment. Warning: not for the faint of heart. Do you consider debt as income? Before you answer that, let’s perform a thought experiment. Imagine that you had taken […]


Market Gives Up Trump-Tax-Hope Gains After UBS Says “Tax Reform Won’t Happen”

Well that de-escalated quickly…   Following yesterday's breathless rip higher in small cap stocks (which are down today) and 'high-tax' stock outperformance (which is collapsing today), it appears 'sell the news' is more today's meme as many on Wall Street question the chances of getting a bill through… and what its effect would be. As […]


More Spending Does Not Drive More Employment

Authored by Per Bylund via The Mises Institute, It is almost universally asserted today that consumer spending drives employment. This thesis gives support to the general Keynesian idea that government should “stimulate” the economy when it is suffering from a recession, whether it is through fiscal or monetary policy. Glorious Spending At the core, the […]


The Sermon On The Mount[ain Of Debt]

Via Global Macro Monitor, “Blessed are the young, for they shall inherit the national debt.” – President Herbert Hoover The Hoover administration thought there was no room and was ideologically opposed to fiscal expansion to stimulate aggregate demand.  Furthermore, Keynesian theory was not even developed at the time.  The General Theory of Employment, Interest and […]


Forget The Hype: Public Infrastructure Generates Waste, Fraud And Abuse

Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke. Economic policy is subject to fads and fashions. The most recent economic-policy fad is public infrastructure. Its advocates include progressives on the “left” and populists on the “right.” It is an undefined hallmark of President Trump’s economic program. They all […]


Dangerous Markets – Signs, Signs, Eveywhere A Sign

Authored by Lance Roberts via RealInvestmentAdvice.com, Last week, I noted: “I have a sneaky suspicion that when I update the Fed Balance Sheet reinvestment analysis next week, shown below, we are going to find a substantial, well-timed, reinvestment by the Central Bank. Wanna bet?” Well, here is the updated chart of the 4-week net change […]


Yes, This is a Real CNBC Article on “Economics”

Via The Daily Bell A chicken in every pot, and a unicorn in every garage. That’s the progressive dream. No, seriously, they are dreaming, and they must have smoked something crazy before bed. I almost couldn’t even write about this subject because I just kept staring at my computer screen wide-eyed and shaking my head. […]


Britain’s Top Priest Slams Rich-Poor Divide In “Britain’s Broken Economy”

While the world has grown used to The Pope sticking his papal nose in the world's business ("horrrific" borders, "grave risks" of libertarians, and the virtues of socialism); Britain's most senior clergyman, the Archbishop of Canterbury, has now decided that it is not enough to preach His word, but better to use his position of […]