Category: economics

Governor Romneycare is, or was, the establishment Republican nominee.  When his campaign turned out to be dead on arrival, Rick Perry was the emergency backup establishment republican nominee.  But Herman Cain now leads 28% to 17% Herman Cain has from the beginning been the main Republican Republican nominee.  Back in May I said “It is a long, long way to the 2012 presidential elections, but they are Herman Cain’s to lose.”   They still are.

If anyone wonders why unemployment is high and rising, and is inclined to discuss aggregate demand and suchlike, just read Coyote Blog: Dispatches from a Small Business

Until recently, it has been near impossible to see daylight between the Obama regime and the Banksters, but now, banksters are being thrown overboard. The FHFA sues Goldman Sachs for common law fraud. I conjecture this is in preparation for the 2012 elections

Taleb, a very smart guy for whom I have immense respect, says the five trillion in effect wound up being stolen by the banksters. If we just look at events over the last few years, that is obviously untrue.

I don’t evaluate the situation as so serious yet that one needs to buy physical gold and sit on it, but one needs to buy claims on gold that can be turned into physical gold that one can sit on should the situation deteriorate further, as it most likely will. Can anyone tell me what gold investments most plausibly make such a promise? A lot of gold funds are investments in promises to deliver gold, rather than investments in gold …

A lot of people are wondering why silver is not going up. It is quite simple.  Gold is money, the one and only true money.  Silver is not money, ceased to be money around 1870 or so.  People are buying gold in expectation of an increase in monetary demand.  The imminent collapse of fiat moneys will boost demand for gold, not silver. Why is gold money?  Network effects.  It is money because it is money, and silver is not money …

Progressives suggest it is because Finland is so wonderfully progressive. However, a refugee from Finland took a look at that article, and reports that it is because progressives lie like rugs:

While inflation has been running at an annualised rate of 3.6% over the past three months, higher than the Fed’s target 2%, said Brett Hammond, senior economist at TIAA-CREF, “in order to get the economy moving again, a little inflation isn’t a bad thing”. If Keynesianism is true, you are not supposed to have rising inflation and unemployment at the same time.  It is only moderate stagflation, but it is rising, and shows every sign that it will go on …