Author Archives

“Secrets of the Temple”

Dr. Larry Hunter, of the Social Security Institute, has written a piece which shows us the proper way to handle an ideologue of the left who happens to have great expertise in economics – in other words:  Extract what is true and useful, discard the rest, but don’t throw the whole body of work away.  [...]

The new Champion of Signing Statements

My understanding is that Bush did more signing statements than all the other presidents put together.  What’s wrong with a good old fashioned veto?  Anyway, Obama is at it now.

Someone Agrees with me

For some time I have been saying that the Derivatives are the key component of our economic collapse,but,so far,after two years of ever increasing misery,the Derivatives are still with us,bigger and badder than ever. Today,in the WSJ,KENNETH E. SCOTT and JOHN B. TAYLOR,concur. “Despite trillions of dollars of new government programs, one of the original [...]

A New Cold War

J.E. Dyer is making a point at Contentions today: Whether on Georgia, missile defense, or other issues, Putin may have read something in his eyes that Obama didn’t know was there, as Russian bombers uncharacteristically buzzed Alaska during the summit. Is she saying that Obama is leading us to Cold War 2 – or, from [...]

One step forwards,Ten steps Back

In order to demonstrate the dysfunctionality of our “Floating” currency system, look at this article on “The US-China Ponzi scheme,” by Jon Markman at MSN Money. Hint: this makes Madoff look like an Eagle scout.

Best Economic Solution Category

Own to Rent: “Own to Rent, Nearly Two Years Later Jul 15Andrew Samwick “Felix Salmon has been a one-man lifeline for an idea called “Own to Rent” originally proposed by Dean Baker and which I happily co-signed in an op-ed in August 2007. In a nutshell, the idea is to allow homeowners who would otherwise [...]

We need to grow up.

Paul Craig Roberts was the Asst. Secretary of the Treasury under Ronald Reagan. His current political opinions are anathema to those on the Right because of his anti George bush and anti-Israel positions. I’m asking us to ignore the political PCR, and listen to the experienced Economist PCR; they are two seperate beings. There is [...]

The Debt and Nothing but the Debt

J.E. Dyer wrote:  “It’s increasingly clear that our way out of this hole will be political, and involve repudiating debt instruments.”  Yesterday, Nassim Nicholas Taleb and Mark Spitznagel, wrote in the Financial Times: The core of the problem, the unavoidable truth, is that our economic system is laden with debt, about triple the amount relative [...]

Currency, Gold, Derivatives, and Systemic Instability

Here’s the way it worked from the end of WW2 until 1971,and the fatal flaw involved. Each of the participating nations Central Banks had to exchange their currency for Gold on demand,the fatal flaw was that the price of Gold was frozen at $35 an oz. By 1971,gold was trading at over $100 Oz due [...]

Why Obama’s Economic Policies Are Failing by Peter Morici

The $789 billion stimulus doesn’t fix what ails the economy and is doomed to fail. Since 2007, the private sector has shed 6.6 million jobs-half in manufacturing and construction. Governments added 185 thousand employees, hired teachers, and no change in those trends can be detected since the stimulus began. During the economic boom, a huge [...]

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