David Stockman: This Is a Giant Ponzi Scheme
David Stockman, who served as President Ronald Reagan’s first budget director, has written something either very right or very wrong, based on the scorn he has been receiving from people[...]
David Stockman, who served as President Ronald Reagan’s first budget director, has written something either very right or very wrong, based on the scorn he has been receiving from people[...]
Central banks bought 534.6 tons of gold during 2012, the largest amount in 48 years. Interest is clearly growing in gold as an international monetary asset as more countries have[...]
Auditing the Fed, replacing Fed monetary policy discretion with a mandatory price rule governing policy, even the gold standard, Nobel Laureate Friedreich Hayek pushed the envelope beyond all of these.[...]
Economics · FIRE · Legal Affairs · Politics
Like Captain Renault in the 1942 movie Casablanca, I am “shocked… shocked” to find that gambling has been going on in the mortgage-backed securities business. And so, apparently, is the[...]
Budgets/Taxes · Economics · Politics · Taxes
President Obama says that income taxes must be raised on the rich because they don’t pay their fair share. The indisputable facts from official government sources say otherwise. The CBO[...]
Budgets/Taxes · Economics · FIRE · Politics · Taxes
A great deal of attention is currently being paid to the fiscal cliff and a grand bargain. If the past is any indicator, under either event taxes will go up[...]
Budgets/Taxes · Economics · Politics · Taxes
[First published at The American Spectator.] It seems like everyone is piling on my college friend Grover Norquist because they can’t wait to abandon the tax pledge not to raise[...]
Budgets/Taxes · Economics · FIRE · Politics · Regulation
[First posted at The American Spectator.] President Obama told a sleepwalking America in his Democrat Convention Acceptance speech: I won’t pretend the path I’m offering is quick or easy. I[...]
Budgets/Taxes · Economics · FIRE
In a recent editorial in The Wall Street Journal, a group of prominent economic experts took the government to task for many of its current poor fiscal and monetary decisions[...]
John Williams runs the Shadowstats.com Web site, which calculates inflation, gross domestic product, and other economic indicators by measuring them the way the government would have done decades ago. He[...]
The recent “occupation” of Wall Street has shed light on what is becoming an unfortunate phenomenon in American society; the purposeless protest, the destructive demonstration, movements that serve only to[...]
George Will has a great column in the Washington Post. He shreds Rep. Barney Frank (D-MA), who has introduced a bill that attacks discussion and debate inside the Federal Reserve —[...]
Economics · FIRE · Politics · Regulation
This is rich. Federal Reserve Chairman Ben Bernanke this week announced Operation Twist, a program to pour hundreds of billions of dollars of Fed money into long-term debt to drive[...]
In today’s New York Times there is an editorial that takes the supposed masters of money at the Federal Reserve to task for their timidity. It’s an almost boundlessly stupid[...]
America’s answer to Soviet central planning — the Federal Reserve — yesterday announced it’s determined to hold interest rates to virtually zero for another two years. This will give savers[...]
