The Other McCain

"One should either write ruthlessly what one believes to be the truth, or else shut up." — Arthur Koestler

How Long Can the ‘Dollar Bubble’ Last?

If you think this is the solution, you are the problem “Sooner or later, you run out of other people’s money. Something that can’t go on forever, won’t. Debt that can’t be repaid, won’t be. Promises that can’t be kept, won’t be.” — Professor Glenn Reynolds Everybody who knows anything about economics — that is […]

Paul And McCotter Grill Bernanke On Inflation, Which Is Unexpectedly Higher Than Bernanke Will Admit

by Smitty It is blatantly obvious to the most casual observer that Ron Paul’s insistence on honest, tangible cash removes him from consideration for President as much as his foreign policy. Paul is trying to make a serious legal tender argument, and Bernanke glibly deflects the question: The wild, irrationally exuberant Thaddeus McCotter ejaculates almost […]

What Other Alternatives Exist For Getting Off Of Fiat Money?

by Smitty Ron Paul on money sounds so lucid: You know your current course is financially suicidal. Those who say otherwise are the ones who are culpable for the current mess. So, if not Ron Paul’s ideas, and not the status quo, then what? via Tyler Durden

The Economy: How Bad Does It Suck?

The Dow Jones Industrial Average lost 236.17 points Wednesday, closing at 11,257.5. Since Nov. 11, the Dow has lost 896.13 points (7.4%), and the forecast is ominous: Stocks suffered a sixth straight day of losses on Wednesday as frustration over the euro zone’s debt crisis, coupled with weak Chinese factory data, further dented investor sentiment. […]

Consumer Confidence Sags; Fed Wants More Stimulus; Gold Gains $38 an Ounce

The relationship between these factors is not entirely coincidental: Gold prices soared Tuesday as Chicago Federal Reserve Bank President Charles Evans called for further monetary easing. The rally continued in after-hours trading after the Fed’s latest minutes from the Federal Open Market Committee meeting in August showed a growing number of presidents calling for more […]

Guns Better Than Gold?

In response to my constant reminders about rising gold prices — You Should Have Listened To Glenn Beck! — Steve in Tennessee sent me a link to this story by Bill Gunderson at Seeking Alpha: Scared investors have been flocking to gold as our economy, political system, and financial system continue in turmoil. It seems […]

A. Probably Worse Than You Think

Q. How bad is the economy right now? Warren Buffet reportedly bought $5 billion — that’s billion, with a “b” — of Bank of America stock, and yet the Dow Jones Industrial Average still lost 170.89 points. That broke a 3-day streak of gains, and now we notice that mortgage rates are rising, an indicator of […]

The Economics of Wishful Thinking

The frustrating thing about Ezra Klein is that, just when you think the Boy Genius of the Juicebox Mafia has gotten the scent of a clue, he goes running off on another liberal wild-goose chase: When the financial markets collapsed [in 2008], household debt was nearly 100 percent of GDP. It’s now down to 90 […]