I was watching business news this morning as I always do and the Great Liar came on spreading more diseased and malignant memes regarding the fiscal cliff negotiations. I get physically ill at the sound of his voice so I just changed the channel by dropping from channel 29 (CNBC on Comcast in Chicago) to […]
Man do I want some of what those guys at the Marriner Eccles building are smoking! Against the power of Mordor there can be no victory. Lord Saruman, what does the Great Eye command? Saruman here is Ben Bernanke, the great monetary Wizard. Able to marshall forces as great as the winds and tides to […]
Never mind that the immigration authorities detained and deported a British couple on holiday because prior to their travel to the US the man had Tweeted to his followers “Can you meet us before we go destroy America?”. Any person with the least bit of brain matter would understand that this meant they were coming […]
Starting in the Bush Administration and continuing in the Obama administration, it has been the official policy of the United States to devalue her currency. The one constant through this period has been the ascendancy of the bearded Princeton academic Ben Bernanke at the Federal Reserve Bank of the United States. Consider the following […]
I just laugh every single day when I think about the whole Greek debt situation. It is painfully obvious, and has been for well over a year, that Greece got trapped with multiples of the debt that its economy could bear as a result of narrow credit spreads engendered by the Common Currency. Last night […]
The saga of MF Global has faded from the headlines a bit, what with the end of the world approaching in 13 months or so, and societal and economic collapse prior to that. But one big question I have is why have I not heard any talk about either the US DOJ or some States […]
The common wisdom one hears these days is that we are in a hard spot because economic growth is stalling, but government debt is so high that resort to additional “stimulus” via government expenditure is unpalatable. This is of course only wisdom to the extent that you believe that government expenditure is inn fact […]
Romer, who until a year ago was a failed architect of “President” Obummer’s failed economic policies, today wrote a hysterical piece in the New York Times which seeks to conflate image with reality. In it she states the following: Mr. Bernanke needs to steal a page from the Volcker playbook. To forcefully tackle the unemployment […]
Today there are multiple articles out about tax policy and the “President” is out talking about millionaires and billionaires again. This must be part of a coordinated effort to change public opinion in the wake of the Debt Ceiling battle and S&P downgrade. So lets tackle the biggest issue head-on. Maobama insisted during the debt […]
Today the Department of Energy (DOE) in conjunction with the International Energy Agency decided it was going to release 30 Million barrels of oil from the Strategic Petroleum Reserve (SPR) – 1 million Barrels a day for 30 days. According to the Energy Information Administration (a sub body of the DOE), we use about 18.77 […]
If it were not so sad it would be funny. This is one of Dennis Gartman’s favorite sayings. The reaction to the May Employment Report by those in Washington would be hilarious if it weren’t so serious. The reaction of those brain-dead in Washington is “We have to craft better policies to get jobs going”. […]
It is passing strange that a week or so after the Obama administration declared it would be taking a tough line on speculation and shortly after the Fed was roundly abused for a lackluster performance in its 1st press conference and for not taking any responsibility for the run-up in commodities due to its outrageously […]
Barney Frank is out again with his legislation that would strip regional Federal Reserve Bank Presidents of their right to vote on monetary policy. In other words they would presumably no longer sit on the Federal Open Market Committee. What a good idea! Then we can have only political appointees beholden to the morons in […]
What I missed in watching this farce was any sense that the Fed is going to fail in achieving the fulfillment of its mandate by virtue of the very policies it is pursuing. It reminds me of the oft-heard proverb that one often meets ones destiny on the road one takes to avoid it, something […]
Today I paid $4.15 to put some gas in the tank of my car. Ben Bernanke refuses to accept that the Fed has anything to do with commodity inflation and refuses to view it as anything other than “transitory” according to remarks on April 5th. Before putting the lie to such nonsense, it will be […]
While our Dear Leader, our erstwhile American Nero, left for India and Asia spending $200 Million per day on entertaining his Media Mogul friend and mouthpiece, CNBC owner and GE Chairman Jeff Immelt, in order to escape the unpleasantly painful aftermath of his face slapping in the mid-term elections, his putatively independent economic minion, Zimbabwe […]
Unless you live under a rock, you must be aware that the Federal Reserve is now widely expected to engage in a strategy of expanded Quantitative Easing to fend off incipient deflation, or if you believe the Fed’s latest statement, even to get low inflation to be more in line with what the Monetary Policy […]
I just watched Maria Bartiromo interview Jennifer Granholm, the Governor of Michigan. The topic of the interview was the great job Granholm was doing revitalizing the Michigan economy by partnering with automotive green energy companies, specifically those producing the batteries to be used in electric vehicles. After much blabber about access to capital, the desperate […]
I always sort of a grimly chuckle when I hear a politician on the tube say something like “Our focus is now entirely on creating jobs.” Politicians may be just about the stupidest creatures on our shared Earth, but they do know one thing. When people feel economically insecure, they tend to vote against those […]
With all the wailing and gnashing of teeth over the Federal Budget our Dear Leader the Obamanator proposed recently, you occasionally hear the solution mentioned but it is rarely discussed and Congress turns it’s back (for example by voting unanimously to keep entitlements off the table when considering how not to bankrupt the country). It […]