A Fistful Of Dollars:
Without Federal Reserve intervention in the financial markets since September 2008, the biggest banks in the world would have entered bankruptcy liquidation. The U.S. economy would have experienced a 10% to 20% fall in GDP. The unemployment rate would have soared above 15%. The stock market would have fallen 70%. . . . → Read More: Corporate Fascist Economic System
Freidrich Hayek and the Austrian school of economic policy argue for a laissez faire approach to the economy – emphasizing individual actions and criticizing government intervention. John Maynard Keynes acknowledged that economies could, over time, correct themselves, but argued that government had a responsibility to intervene and stimulate demand when the economy is in . . . → Read More: Keynes vs. Hayek
Given the massive volume of ridiculous news stories revealing the travesties occurring in this country on a daily basis, I have decided to start regularly posting my thoughts on selected pieces each day. I will continue of course to produce lengthier more substantive pieces as well.
Without further ado, I present today’s Daily Quips:
. . . → Read More: Daily Quips for November 19, 2009
Steve Keen is an Australian Post-Keynesian economist credited as having “seen it coming” in this survey of research by economists or financial market commentators. Keen was one of only eleven researchers who qualified, which included Schiff, Roubini, and Shiller.
Steve Keen is a follower of Hyman Minsky’s “Financial Instability Hypothesis”, which he summarises as:
. . . → Read More: Protecting yourself from World War III: Debtors vs Creditors
One of the puzzling aspects of the current economy is the soaring demand for US treasury bonds. On the face of it, T-Bills seem like a pretty terrible investment. The yields are low and given the massive government and current account deficits being run by the United States, it is highly likely that the . . . → Read More: Why are T-Bills so popular
In the midst of this economic turmoil that has shaken the world; we have witnessed gold bounce above $1000 and dip as low as $700 in the same period. Concerns have risen and arguments have been increasing as to the effects of this economic turmoil. It is widely believed that the current contraction facing . . . → Read More: Last Stop to buy Gold below $1000
I really hate shoveling snow. I live on a large corner lot with lots of sidewalk, so the job can take me over an hour. Snowblowers, I’ve found, are overrated. I’ve had two and neither did a very good job and both had maintenance issues. I bought both used, so that might be part . . . → Read More: The Recession Brings the Division of Labor to My Neighborhood
The day that the $700 billion bailout bill went down to a shocking defeat in the House of Representatives, the Dow Jones Industrial Average suffered a record 777 point one-day crash. “Something must be done!” bellowed the bureaucrats and billionaires. But following the passage of the bailout, the Dow and the broader S&P 500 . . . → Read More: Bernanke’s Plan to Avoid a Second Great Depression
When Adam Hammond went skydiving in 2006, he thought it was something that was going to end the same way as the 1,000 jumps before. However, when this U.S. Army “Golden Knight” pulled his parachute, nothing happened. Hammond hit the ground at over 45 miles an hour and broke his leg, pelvis and spine. . . . → Read More: Pain and Depression Sufferers Benefit from Breakthroughs in Neurostimulation