In response to Why Would Anyone Buy a Spanish Bond?, reader RAID 3000 pointed out that the U.S. has far more serious problems than Europe (no argument there!) and included a link to LEAP2020, a European site doing great work on this subject. One of its articles contained the following chart: This got me to […]
Irony: Andrew Jackson On a Federal Reserve Note
Karl Golovin, a retired customs agent and security director for Ron Paul’s presidential campaign, just forwarded a transcript of Andrew Jackson’s farewell address. It’s pretty amazing. Here’s Karl’s intro, followed by an excerpt: “During his presidency, Andrew Jackson viewed as his crowning achievement that he “Killed the Bank,” the 2nd Bank of the U.S. Our […]
The Difference a Printing Press Makes
Contrast how the best-run U.S. states are responding to the recession — cutting services, laying off workers, raising taxes, and generally making hard choices — with how the Federal government simply writes checks to any and all (while being praised for its “flexibility” and “creativity”) and you begin to understand the power of a printing […]
“A Tremendous Secret”
Last week FOFOA posted a long article on the coming devaluation of the dollar and how it might play out. He thinks it will be sprung on us without warning — sooner rather than later: The point is that during times of transition, surprises are always the order of the day. We have a crazy-out-of-control […]
The Illusion of Safety
Last week the Wall Street Journal published an article that (assuming it wasn’t a clever satire) perfectly illustrates the train wreck that’s in store for clients of mainstream money managers. In the first-person-confessional style that’s becoming popular in the financial press, the reporter laments his diminished 401(K): My company retirement accounts, despite what I thought […]
Death Spiral Revisited
Back in mid-2007 I posted a column titled “Death Spiral” that made some (for that time) extreme predictions. Here are the last few paragraphs: Anyone who thinks the Eurozone welfare states will maintain their composure with the euro at, say, $1.50, simply doesn’t understand how democracy works in this late, decadent stage of its evolution. […]
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