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Silver Linings: Keynesian Central Banking Is Heading For A Massive Repudiation
Silver Linings: Keynesian Central Banking Is Heading For A Massive Repudiation For several years now the small coterie of Keynesian academics and apparatchiks who have seized nearly absolute financial power through the Fed’s printing presses have justified the lunacy of unending ZIRP and massive QE on the grounds that there is too little inflation. The bureaucrats at the IMF […]
Why The Keynesian Market Wreckers Are Now Coming For Even Your Ben Franklins
Why The Keynesian Market Wreckers Are Now Coming For Even Your Ben Franklins Larry Summers is a pretentious Keynesian fool, but I refer to him as the Great Thinker’s Vicar on Earth for a reason. To wit, every time the latest experiment in Keynesian intervention fails——as 84 months of ZIRP and massive QE clearly have—–he can be counted on to trot out […]
The Global Economy Could Fall Farther and Faster Than Pundits Expect
The Global Economy Could Fall Farther and Faster Than Pundits Expect Systemic fragility doesn’t respond to central bank jawboning or Keynesian claptrap; unlike those “policy tools,” fragility is real. The core narrative of central bank/cartel capitalism is centralized agencies have the power to limit downturns and extend credit-based “good times” almost indefinitely. The centralized power bag […]
So It Begins: Bloomberg Op-Ed Calls For An End Of Cash
So It Begins: Bloomberg Op-Ed Calls For An End Of Cash In a moment of curious serendipity, a little over 90 minutes after we showed what a dystopian, centrally-planned, cashless society unleashed in a negative interest rate world would look like (“by forcing people and companies to convert their paper money into bank deposits, the hope is […]
The Bank of Japan – Ringing in the Endgame?
The Bank of Japan – Ringing in the Endgame? Let’s Do More of What Doesn’t Work It is the Keynesian mantra: the fact that the policies recommended by Keynesians and monetarists, i.e., deficit spending and money printing, routinely fail to bring about the desired results is not seen as proof that they simply don’t work. […]
Mises.org: Brazil’s Easy-Money Problem
MISES.ORG: BRAZIL’S EASY-MONEY PROBLEM Brazil is undergoing what is considered its worst economic crisis in seventy years, and there is usually no agreement when it comes to the causes of this situation. President Rousseff and the Labor Party say that it was the corollary of the “International Crisis,” a ghost of the 2008 depression created in […]
Out of the mouths of babes….
Out of the mouths of babes…. Parents will tell you the most difficult questions to answer sometimes come from their children. Here are some apparently innocent questions to ask of economists, journalists, financial commentators and central bankers, which are designed to expose the contradictions in their economic beliefs. They are at their most effective using […]
Top-Down “Solutions” = Institutionalized Serfdom, Bottom-Up Solutions = Reviving Opportunity
Top-Down “Solutions” = Institutionalized Serfdom, Bottom-Up Solutions = Reviving Opportunity If the “solution” doesn’t enable the accumulation of capital in all its forms by individuals and households, it isn’t a real solution–it’s just another top-down scheme that institutionalizes subsistence serfdom. Phrases like reviving the American Dream emit the lingering stench of empty political rhetoric mouthed by bought-and-paid-for […]
Hey, Wall Street——-This Bud’s For You!
Hey, Wall Street——-This Bud’s For You! The hordes of Washington politicians promising to boost the nation’s economic growth rate and the posse of monetary central planners and their Keynesian economists (excuse the redundancy) lamenting that “escape velocity” appears to have gone MIA have one thing in common. To wit, they have never looked at the chart below, or don’t get it if they have. Plain and […]
2016 Theme #4: The End-Game of Debt-Fueled “Growth”
2016 Theme #4: The End-Game of Debt-Fueled “Growth” This week I am addressing themes I see playing out in 2016. A number of systemic, structural forces are intersecting in 2016. One is the end-game of debt-fueled “growth.” We can summarize the official “solution” to the Global Financial Meltdown of 2008 in one line: borrow and blow […]
Time For Torches & Pitchforks——-The Little Guy Is About To Get Monkey-Hammered Again
Time For Torches & Pitchforks——-The Little Guy Is About To Get Monkey-Hammered Again The reputations of Ben and Janet are going to be eviscerated in 2016. That’s because the US economy will slide into recession in defiance of every claim they have made for their snake oil monetary policies. The plain fact is, massive falsification of financial markets via […]
The Keynesian Recovery Meme Is About To Get Mugged, Part 2
The Keynesian Recovery Meme Is About To Get Mugged, Part 2 Our point yesterday was that the Fed and its Wall Street fellow travelers are about to get mugged by the oncoming battering rams of global deflation and domestic recession. When the bust comes, these foolish Keynesian proponents of everything is awesome will be caught like deer in the […]
The Keynesian Recovery Meme Is About To Get Mugged, Part 1
The Keynesian Recovery Meme Is About To Get Mugged, Part 1 Yellen said at least one thing of importance last week, but not in a good way. She confessed to the frightening truth that the FOMC formulates its policies and actions based on forecasts of future economic developments. My point is not simply that our monetary politburo couldn’t […]
Unintended consequences of lift-off in a world of excess reserves
Unintended consequences of lift-off in a world of excess reserves Bar a disastrous NFP print this coming Friday the US Federal Reserve will change the target range for the Federal Reserve (Fed) Bank’s Funds rate from the current level of zero – 25bp to 25 – 50bp on December 16th. The Fed will effectively raise […]
Advice to the Prime Minister/President
Advice to the Prime Minister/President Your country faces a stagnating economy. Let us assume your Prime Minister (or President if that is who holds the executive power) seeks advice from two imaginary economists. PM: You two economists have different views on what our economic policy should be. What is your advice? FIRST ECONOMIST (Austrian school): Prime Minister, the […]
