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By Michael If someone were to ask you for an example of a “totalitarian society”, how would you respond? Most Americans would probably think of horribly repressive regimes such as the Soviet Union, Nazi Germany, Communist China, East Germany or North Korea, but the truth is that there is one society that has far more rules and regulations than any of those societies ever dreamed of having. In the United States [...] MICHAEL PENTO: It Would Be More Surprising If Gold Didn’t Go To $10,000 The world’s central banks have gold bulls on high alert thanks to unprecedented, ultra-easy monetary policy. Eric King of King World News asked Michael Pento if this means gold $10,000 is coming. Here’s Pento’s response: “Absolutely. I know it sounds ridiculous, but don’t forget that back in the 1930s it was (around) $21 an ounce. No one would ever have believed [...] From Azizonomics: Is peak oil imminent? Lots of people seem to think so. The data (released by BP, a company that has a vested interest in oil scarcity) don’t agree. The oil in the ground will run out some day. But as the discovery of proven reserves continues to significantly outpace the rate of extraction, the claims that we’re facing immediate shortages look trashy. Some may try to cast doubt on [...] One: China has 2 million extra men at the bottom of the totem-pole for whom there are no women. The one child policy has created a massive surplus of rage-filled rural males who will never in their lifetimes have a girlfriend or a wife — and most likely will never get laid. To put a finer point on it: No society can hope to have long-term stability with this demographic [...] by John Aziz of Azizonomics blog, This chart tells millions of stories. I’m trying to get my head around its implications. That’s right: since 1984 (surely an appropriate year) while the elderly have grown their wealth in nominal terms, the young are much worse off both in inflation-adjusted terms, as well as nominal terms (pretty hard to believe given that the money supply has expanded eightfoldin the intervening years). So why are the elderly doing over fifty times [...] I know Krugman is wrong…but why is he? While watching some Steve Keen interviews, I was struck by something. I have known for a long time that mainstream economists pay no attention what so ever to private sector debt levels. I never really dug into why. But Keen specifically touched on this, and stated that NeoClassical economists think private debt levels, vs. GDP, or any other metric, do not matter. To [...] While watching some Steve Keen interviews, I was struck by something. I have known for a long time that mainstream economists pay no attention what so ever to private sector debt levels. I never really dug into why. But Keen specifically touched on this, and stated that NeoClassical economists think private debt levels, vs. GDP, or any other metric, do not matter. To them, it all balances out, because someones [...] Print the money to buy the debt issued by the government, called monetizing the debt, exploding the supply of money and trashing its value. It is a long standing proposition of many, supported on both theoretical and historical grounds, that one of the surest roads to hyperinflation is one grounded in a government whose answer to every economic and social problem is to borrow and spend [...] by Mark Real wealth is only created by the actual production of goods and services. It is not created by borrowing or printing money. The Federal Reserve, a privatate corporation is the ones who need a real education. An education that is geared to service this nation and not their own lined pockets making money from merely printing money. Here is a good start straight from [...] Here’s your first of many Fed speeches for the day, courtesy of NYFRB CEO Dudley:—————- Remarks at the Quarterly Regional Economic Press Briefing, New York City Good morning and welcome once again to the New York Fed’s Quarterly Regional Economic Press Briefing. As always, I am pleased to have this opportunity to talk with the journalists covering our region—and through you, to the people in [...] |
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