The once-in-a-lifetime opportunity is for the boneheads at the Fed to enable the boneheads in the White House and Congress to spend more money
In the next rescue, 2009-2019, debt rose even more. Worldwide, it more than doubled, growing five times faster than GDP.
Our beat is money. And in today’s money world, truth is rare; beauty can be found only in irony and mockery.
When the economy is healthy and growing, people buy stocks and the index generally goes up. When it is fearful and correcting its mistakes, they buy gold and the index goes down.
Faced with the next crisis, the grease monkeys at central banks are going to do what everyone expects them to do. They’ll turn the screws on savers, harder than ever.
It was in the early 1970s that the idea of ‘stimulating’ an economy began to take hold, first among progressives, later among conservatives.
‘It’s all part of a plan,’ explained a colleague. ‘Trump is not book smart; he’s smart like a fox.’ ‘He knows that Americans need to see some economic improvement in … Read More
What kind of capitalism is it when the capitalists drive up their share prices rather than producing goods and services that they can sell at a profit?
The money is fake. Interest rates are artificial. Prices are fraudulent. And today, the price signals are worthless.
The guardians of the world’s most important measures of value said they would lend more fake money at even fakier interest rates.
Short-term finance is great for short-term speculators. But it is bad for business. You can’t build a real, prosperous economy with overnight money.
Politics is the enemy of civilisation. It is the enemy, too, of economic progress. Most important, it is the enemy of dignity and clear thinking.
Buying stocks or houses may have been a good plan for 1982. And maybe even 2002. But for 2019? Is the pattern of the last 30 years likely to continue?