I'm sure many of you have already read Paul Krugman's latest column, in which he points out what he believes is a contradiction within the Austrian school regarding money market funds:
"But consider a more recent innovation: money market funds. Such funds are just a particular type of mutual fund - and surely the Austrians don't want to ban financial intermediation (or do they?). Yet shares in a MMF are very clearly a form of money - you can even write checks on them - created out of thin air by financial institutions, with very few pieces of green paper behind them.
from Strickland's speech in Charlotte:
Mitt Romney has so little economic patriotism that even his money needs a passport. It summers on the beaches of the Cayman Islands and winters on the slopes of the Swiss Alps. In Matthew, chapter 6, verse 21, the scriptures teach us that where your treasure is, there will your heart be also. My friends, any man who aspires to be our president should keep both his treasure and his heart in the United States of America. And it's well past time for Mitt Romney to come clean with the American people.
From the "You can't make this stuff up" file - Brazilian central bank workers are on strike, demanding wage increases to keep up with the inflation they caused.
Naturally, the Bloomberg article gets cause/effect completely wrong (they're only an economics/business news firm, after all), but the irony is delicious nevertheless.
Great to know the banking bailouts have enabled the big banks to continue to play casino & make massive losses
Last month the carbon tax passed the Australian House of Reps and Senate.
It's true that the sky hasn't fallen in. But the pain of extra gubment regs and tax charges won't kick in till July next year.
Gubment delaying the pain, is as stupid as the pain itself.
Be seeing you!
The 1970s, the decade of bell bottom trousers, prawn coctails, disco, Lynda Carter & stagflation!
Greece has just been bailed out for the second time & if Greece gets into further trouble i doubt there will be a third bailout
If Greece truly goes bust, Ireland would be next & if Ireland goes bust the the British economy could be in a whole heap more trouble because guess who the British government has been lending billions to
"Ignorance is bliss," someone once said, and how right he was. The Contented Debt-Strapped Consumer (CD-SC) need not be concerned about possible potential problems of their debt. Why stress over bankruptcy, staggeringly overwhelming obligations and ruin? The future is not here yet, so why worry about it? This is especially true when there are so many well-known methods of increasing and extending debt. One of probably the most common types of debt is quick installment loans since they're so simple to get.
1. What does debt matter?
They paid 40% of all federal income taxes last year.
The top 25% paid 85%.
(The bottom 20% of earners paid no income taxes. They got subsidies through the EIT).
Meanwhile, corporate taxes are the highest in the industrialized world at 40%. (Not that I approve of the government-created things called corporations) Communist china has a rate of 25%.
Saw this story about Apple having more cash then the US govt thought it might interest people
Today I was looking at kitco.com charts, (actually considering buying an ad on that site).
I came across charts showing the silver lease rate. I have no idea what a silver lease is, or how such a contract would work, so I investigated a little, finding this article critical of the practice of metals leasing.
I am curious as to your thoughts on this matter.
Looks like Obama has done it again. This time, it's not about death, destruction, and violations of CONstitutional protections. This time Obama invades Columbia, and it's better than you think.
Take a look:
It's ooookay. There is nothing to worry about! The great Bernake, the leader of the Fed when the housing bubble burst, says we have nothing to worry aboiut. Of course, this is the same guy who doesn't seem to draw a connection between printing money and inflation so...
Bernake, you need to stop that noise!
It seems like an odd situation to describe Australia as being a place, where open warfare has
broken out over the climate fraud and taxation.
The usual tranquil stereotypes emerge when I speak to Americans and others about what they
see as uniquely Australian.
Putting a shrimp on the barbie, making the usual reference to the size of one's knife and of cause
the general languid sound of our accent is usually the first thing that springs to mind. Tax Wars,
though don't fit the bill.
This goes into some detail. Gard is the genius so maybe he can explain it more clearly.
Police issue warning about buying and selling gold
By Brian Day Staff Writer
Posted: 01/02/2011 04:46:53 PM PST
PASADENA - As soaring gold prices tempt many to sell off jewelry and other gold items, police are working to keep thieves from taking advantage of the trend by making it difficult to sell stolen gold.
With gold selling for more than $1,400 per ounce, officials remind the public that there are laws governing the buying and selling of gold, Pasadena police said in a written statement.
"The Pasadena Police Department would like to inform the public that buying gold is against the law unless you are licensed by the California Department of Justice," the statement said.
In order to observe the freeing of slaves, the modern day slave is getting a 2 day reprieve in giving Master our money.
There is alot of talk about this spring's gas prices already, oil going up, food is going up. The unraveling going on in Europe, the potential commercial real estate bubble in the states. Inflation, deflation? Where is this all heading, if anyplace? It is hard to know about such things. I have started taking a number of protective steps such as stocking food and supplies, gasoline, generator etc. What do you think we are looking at in terms of U.S. and world economy? Some big collapse? Another Great Depression? Extended recession? Or nothing special, just more fluctuations and life goes on?