Here Comes QE3!

Satan’s retarded cousin (“Ben Bernanke,” as he’s known to many in the public) has apparently decided that the dollar just is not yet close enough to worthless:

The Federal Reserve’s announcement today that is launching a third round of quantitative easing validated widely held expectations that the central bank would provide more monetary stimulus . . . → Read More: Here Comes QE3!

Another Greedy Capitalist

Her name is Gina Rinehart:

Now, the Australian mining heiress, worth $19 billion and earlier this year thought to be the world’s richest woman, has sparked another controversy in her latest column in Australian Resources and Investment magazine. (Yes, I am a registered reader online.) Rinehart rails against class warfare and says the non-rich . . . → Read More: Another Greedy Capitalist

I Wonder If They’re Yellow

Drugs are apparently being imported into the US by submarines:

Although they captured 129 tons of cocaine on its way to the U.S. last year, the Coast Guard thinks that close to 500 tons could now be making it through. “My staff watches multi-ton loads go by,” Rear Adm. Charles D. Michel told The . . . → Read More: I Wonder If They’re Yellow

FP on Cities

So not the normal place to find urban stuff, but Foreign Policy has an issue dedicated to cities.  They cite a list of the world’s 75 most dynamic cities.  Don’t get excited. No, we are not on it.  I suspect that measuring city size or region size every place on that list is just . . . → Read More: FP on Cities

So does college pay off?

I know there are doubters that are getting louder… but at the end of the day lifetime earnings add up. Below is the differential in wages by educational attainment among those employed.  It’s not only the wage differential in itself that matters, but you have to also consider the significantly lower unemployment rates for those . . . → Read More: So does college pay off?

Don Coxe Recommends Investors Read Lenin to Understand the Markets

China and India have always been crazy for gold and the yellow metal remains the choice store of value in those two countries, says Don Coxe, a strategic advisor to the BMO Financial Group. In an exclusive interview with The Gold Report, Coxe explains how demographic shifts are affecting the price of gold . . . → Read More: Don Coxe Recommends Investors Read Lenin to Understand the Markets

Doug Casey Predicts Day of Economic Reckoning Is Near

It is a deal with the devil: Governments churn out more and more cash for the promise of continued prosperity. But the day of reckoning is near, according to Doug Casey, chairman of Casey Research and an expert on crisis investing. As the epic battle between inflation and deflation continues, Casey discusses his . . . → Read More: Doug Casey Predicts Day of Economic Reckoning Is Near

And Now, For Some Pedantry

Tom Woods refutes a (possible) straw man:

(2) He thinks private ownership is a form of “central planning.” (This guy has his own show?) Central planning involves (1) the direction of resources in the absence of property rights, or (2) orders handed down to resource owners by non-owners. Neither applies in the case of . . . → Read More: And Now, For Some Pedantry

The widget illusion

The Economist runs a discussion forum titled The Economist By Invitation. In this, they recently setup a discussion about an opinion piece by Dani Rodrik about the future of manufacturing-led growth in emerging markets. I wrote a response there which is reproduced here.

The role of manufactures

I agree with a small element of . . . → Read More: The widget illusion

Paul Krugman, Still Retarded

In which Krugman relies on his faulty memory:

So: I’m old enough (you kids get off my lawn) to remember the rise of self-service gas stations, which coincided with the oil shocks of the 1970s. Suddenly gas was much more expensive — and drivers, eager to limit the blow, were willing to pump their . . . → Read More: Paul Krugman, Still Retarded