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28 trillion reasons to have a Plan B
28 trillion reasons to have a Plan B At the close of business on Monday March 1st, just a few days ago, the US national debt crossed $28 trillion for the first time in history. To the penny, in fact, the national debt hit $28,004,376,276,999.35. And bear in mind that figure doesn’t include the $1.9 […]
Yellen’s LaLa Land Prediction Of Full Employment
Yellen’s LaLa Land Prediction Of Full Employment Biden And Yellen Serve Destructive Recursion While the trend of automating jobs is moving along full speed U.S. Treasury Secretary, Janet Yellen recently said that the U.S. could achieve full employment recovery if President Joe Biden’s COVID-19 stimulus package is passed. “I would expect that if this package is passed, we […]
Building A false Economy On Hope And Printing Money
Building A false Economy On Hope And Printing Money False Economy’s End In Decay And Failure This article is in response to a piece about how it looks like massive stimulus is finally upon us and the only question is how big it will be. It would be wise to remember this is all an […]
The Next Wave Of Spending Will Not Bring Prosperity
The Next Wave Of Spending Will Not Bring Prosperity We Are Starting A New Series Of Mistakes The surprisingly bad job numbers recently released show America lost 140,000 jobs in December. A big part of the problem is that this is only one indicator of the carnage taking place in our economy. As small businesses […]
The Next Wave Of Spending Will Not Bring Prosperity
The Next Wave Of Spending Will Not Bring Prosperity We Are Starting A New Series Of Mistakes The surprisingly bad job numbers recently released show America lost 140,000 jobs in December. A big part of the problem is that this is only one indicator of the carnage taking place in our economy. As small businesses […]
China’s Rapidly Expanding Credit Affects Global Markets
China’s Rapidly Expanding Credit Affects Global Markets We again are seeing how rapidly expanding credit in China is spilling over into the global market. In reaction to its economy being slammed by covid-19, China like many countries has unleashed several massive stimulus programs to start things moving. Unfortunately for the Chinese people, they have also […]
Money Supply Growth in May Again Surges to an All-Time High
MONEY SUPPLY GROWTH IN MAY AGAIN SURGES TO AN ALL-TIME HIGH Money supply growth surged to another all-time high in May, following April’s all-time high that came in the wake of unprecedented quantitative easing, central bank asset purchases, and various stimulus packages. The growth rate has never been higher, with the 1970s the only period […]
Game Over Spending
Game Over Spending Second quarter 2020 came and went like a California wildfire. The economic devastation caused by the government lockdowns was swift, the destruction immense, and the damage lasting. But, nonetheless, in Q2, the major U.S. stock market indices rallied at a record pace. The Dow booked its best quarter in 33 years. The […]
Seems Counter-Intuitive in This Crisis: Inflation Heats Up for Services Firms, and They’re Able to Pass it on via Higher Prices
Seems Counter-Intuitive in This Crisis: Inflation Heats Up for Services Firms, and They’re Able to Pass it on via Higher Prices Even manufacturers, after months of crushed commodities prices, experience inflation and are able to pass it on. Stimulus money the government and the Fed have thrown around by the trillions. It seems somewhat counter-intuitive […]
Market Update: The Battle For Control
Market Update: The Battle For Control Which side will prevail in the markets going forward? Reality or rescue? As more data pours in showing the severe and worsening contraction of the global economy due to the impact of covid-19, it’s becoming increasingly clear that the only thing propping up today’s financial markets is the $trillions […]
JPM, ECB Hint At Arrival Of “Helicopter Money” In Europe Following Next “Significant Downturn”
JPM, ECB Hint At Arrival Of “Helicopter Money” In Europe Following Next “Significant Downturn” Moments ago, ECB governing council member and Bank of Italy governor Ignazio Visco had some very troubling comments. He said that while helicopter money is not currently part of the discussion in the Governing Council that “no policy tool within our mandate […]
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 […]
Canada due for debt crisis and recession, economist argues
Canada due for debt crisis and recession, economist argues Credit growth has to stop at some point, and then economy shrinks, argues Steve Keen Finance Minister Bill Morneau has just delivered a budget that will put Canada deeper in debt. A Forbes columnist argues that puts Canada on track for a credit crisis. (Sean Kilpatrick/Canadian […]
Deficit Spending is Not the Answer
Deficit Spending is Not the Answer The Growing Chorus for Fiscal Stimulus Central bankers and monetary adherents the world over are united in the common grouse that fiscal policy is lacking. Grander programs of direct stimulation are needed, they grumble. Monetary policy alone won’t cut the mustard, they gripe. Global debt-to-GDP ratios (excl. financial debt). […]
Krugman Goes To Japan, Scolds Abe For Worrying About Quadrillion Yen Debt Pile, Leaves
Krugman Goes To Japan, Scolds Abe For Worrying About Quadrillion Yen Debt Pile, Leaves Much like BoJ governor Haruhiko Kuroda, Paul Krugman thinks that the key for Japan when it comes to overcoming decades of deflation is a positive outlook. “Japan needs to reach a point where everyone believes that it has pulled out of […]
