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Japan’s “Coma Economy” Is A Preview For The World
Japan’s “Coma Economy” Is A Preview For The World The 1980s were the apex of Japanese culture and economic might. Back then, Japan’s economy was growing so fast, it was thought they would overtake the US. But that all came to a screeching halt. Truth is, Japan’s meteoric rise was fueled by an epic lending bubble. Similar […]
What Comes Next——Krugman’s Fiscal Equivalent Of War
What Comes Next——Krugman’s Fiscal Equivalent Of War Somebody must have reinstated Paul Krugman’s passport. He was recently back in Japan to meet with the world’s leading economy-wrecking triumvirate —-Prime Minister Abe, BOJ Governor Kuroda and Finance Minister Taro Aso—–to dispense some desperately needed advice. Japan is on the verge of a second recession during Abe’s tenure despite his plunge […]
Why Mario’s Got A Bee In His Bonnet
Why Mario’s Got A Bee In His Bonnet Mario had a bee in his bonnet this morning. Apparently, the chorus of German voices pointing to the obvious—- that his policies are killing savers, insurance companies, pension funds and banks—-got his dander up: “We have a mandate to preserve price stability for the whole of the euro […]
The Keynesian House Of Denial
The Keynesian House Of Denial We use the term “Keynesian” loosely to stand for economic interventionists of all schools. The followers of JM Keynes and Milton Friedman alike fit that category. So do some of the more rabid supply siders who claim the power to stimulate ultra-high economic growth with the tools of tax policy alone. The […]
The Catastrophic Mismanagement of the Economy & The Coming Meltdown
The Catastrophic Mismanagement of the Economy & The Coming Meltdown We are finishing up the “Pension Crisis – The Next Nightmare,” which is a special report outlining the next global meltdown. Germany’s Federal Finance Minister Schaeuble is now openly blaming Mario Draghi for the electoral success of the AFD in Germany, which is the Alternative for Germany (In German: Alternative für […]
Benn Steil: Why Is Paul Krugman Still Calling For Fiscal Stimulus?
BENN STEIL: WHY IS PAUL KRUGMAN STILL CALLING FOR FISCAL STIMULUS? Nobel economist and New York Times columnist Paul Krugman is fond of mocking his critics for being ideologues rather than economists. In contrast, Krugman’s own policy prescriptions, he assures us, are based wholly on soundeconomic science. Case in point is the theory of liquidity traps, which goes back […]
Bad — But Better Than What’s Coming
Bad — But Better Than What’s Coming Talk about diminished expectations. This morning’s estimate of 1.4% Q4 GDP growth is being hailed as a pleasant surprise. Which is odd, considering that for most of the past century a number this low would have been seen as weak enough to require emergency action. And that’s just […]
Impaled On Its Own Petard——The Fed’s Folly Festers Further
Impaled On Its Own Petard——The Fed’s Folly Festers Further Listening to even a small portion of Simple Janet’s incoherent babble makes very clear that the nation’s central bank is well and truly impaled on its own petard. According to the dictionary, the latter term refers to….. …….. a small bomb used for blowing up gates and walls when breaching […]
We Need the Pain that Comes with More Saving
We Need the Pain that Comes with More Saving The endgame of monetary side manipulations is upon us. Since 2008, central banks have done what they thought was needed to bring the markets back from the pain they experienced during the crash. The problem, of course, is that these Keynesians and Monetarists placed the high […]
Secret Monetary Group Warns a Catastrophe Is Coming
Secret Monetary Group Warns a Catastrophe Is Coming This is just the tip of the iceberg. The Bank for International Settlements is nothing if not obscure. As the central bankers’ bank, it seems little-more than a back-door, private club for monetary elites to rub shoulders. And it’s located in Switzerland which has always carried a […]
The “Terrifying Prospect” Of A Triumph Of Politics Over Economics
The “Terrifying Prospect” Of A Triumph Of Politics Over Economics The Triumph of Politics All of life’s odds aren’t 3:2, but that’s how you’re supposed to bet, or so they say. They are not saying that so much anymore, or saying that history rhymes, or that nothing’s new under the sun. More and more theys seem […]
Where Negative Interest Rates Will Lead Us
WHERE NEGATIVE INTEREST RATES WILL LEAD US Despite zero-interest-rate-policy (ZIRP) and multiple quantitative easing programs — whereby the central bank buys large quantities of assets while leaving interest rates at practically zero — the world’s economies are stuck in the doldrums. The central banks’ only accomplishment seems to be an increase in public and private […]
The G-20s Big Fat Zero——Now Comes The Bubble’s Demise!
The G-20s Big Fat Zero——Now Comes The Bubble’s Demise! The tens of millions of taxpayer money wasted at the G-20’s Shanghai soirée had a silver lining. The assembled masters of world finance came up with a big fat zero on the coordinated global stimulus front. So doing, they essentially admitted that their money printing central banks are out of dry powder (“…but monetary […]
Financial Time Bombs Hiding In Plain Sight
Financial Time Bombs Hiding In Plain Sight The bear will soon be arriving in earnest, marauding through the canyons of Wall Street while red in tooth and claw. Our monetary central planners, of course, will once again—for the third time this century——be utterly shocked and unprepared. That’s because they have spent the better part of two decades deforming, distorting, denuding and destroying what were once […]
The Follies and Fallacies of Keynesian Economics
THE FOLLIES AND FALLACIES OF KEYNESIAN ECONOMICS Eighty years go, on February 4, 1936, one of the most influential books of the last one hundred years was published, British economist, John Maynard Keynes’s The General Theory of Employment, Interest and Money. With it was born what has become known as Keynesian Economics. Within less than a […]
