By Bill Freeza
Tax The Rich! As an applause line it never fails. The desire to equalize economic outcomes runs strong if you believe that the rich got that way by theft, the poor got that way through no fault of their own, and tax hikes don’t influence economic growth.
The parade of crony capitalists that looted the public treasury with the help of friends in Washington has only reinforced these beliefs. Intentionally Read More »
Bernanke Begins Public Dialogue With Pledge to Maintain Record Stimulus – Bloomberg
The Politics and Economics of a Falling Dollar – Washington Post
Bernanke: Inflation? What inflation? – National Post
Bernanke Punts the Dollar, Gold Slams Bernanke – Kudlow/Real Clear Markets
How Asia Copes with America’s Zombie Consumers – Project Syndicate
By Peter Morici
When gas prices spike, owing to Middle East turmoil or hurricanes, conspiracy theories abound about profiteering speculators. The truth is Americans are suffering from bad energy polices—politicians eager to sell pet projects and hoist blame onto others.
In such a fit, President Obama offers fanciful alternative energy technologies as a solution to rising pump prices and a task force to ferret out fraud in energy markets.
Even before disturbances in Egypt, Libya Read More »
By Bill Bonner for The Daily Reckoning
There are some activities that are positive sum activities. That is, they are productive. They increase the total of real wealth in a society.
There are other activities that are zero sum activities…or even negative sum activities. War, for example. Excess legal wrangling. Paperwork. Too much time spent in schools. Too much support for the unemployed, the malingerers and the loafers. These things decrease the total of Read More »
EDITOR’S COMMENT: As usual, Doug Casey has written another timely article on the anti-gold propaganda that is currently being spread around. Frankly, a number of both current gold investors and non-gold investors are asking some of these same questions, to which his responses are very concise and very well researched.
By Doug Casey for Casey Research
A meme is now circulating that gold is in a bubble and that it’s time for the Read More »
By Simon Black for The Daily Reckoning
We have entered what I call the Age of Turmoil, a time that is marked by rapid change and fluctuating crises. The old system of debt and consumption that gave us great salaries, generous benefits, stock market and housing appreciation, and a high standard of living is gone forever.
What’s happening right now is a major sea change: the game is being reset, and the rules are Read More »
By Bill Bonner for The Daily Reckoning
Let’s turn our attention elsewhere. To greedy old people, for example.
Here’s a letter that appeared in The Financial Times on Saturday:
“I have recently returned from the first leg of a world cruise. Many of the elderly passengers were on their way around the world at a cost, for a couple, of between [$75,000] and [$140,000] and I met several who were on their third Read More »
By Economic Collapse
In case you haven’t noticed, the world is on the verge of a horrific global food crisis. At some point, this crisis will affect you and your family. It may not be today, and it may not be tomorrow, but it is going to happen. Crazy weather and horrifying natural disasters have played havoc with agricultural production in many areas of the globe over the past couple of years. Meanwhile, Read More »
You can tell when a Ponzi scheme is approaching its collapse by the increased number of smoke and mirrors needed to cover up the counterfeit foundation of the scheme.
The U.S. government, who already grossly disfigures the real numbers for GDP, unemployment and inflation, is constantly having to twist reality to keep their scheme afloat.
The government recently reported that unemployment numbers reached the lowest point in nearly two years at 8.9%, “sparking Read More »
