The pills that I thought were tranquilizers turned out to be vitamins, and although I am on the verge of some kind of mental breakdown because of the mix-up, I feel great!
Turning to the old tried and true, I soon learned that I had started too late, and I was not nearly drunk enough to [...]

I am a guy who thinks that such huge explosions in money supplies around the world and the explosions in government deficit-spending around the world will lead to catastrophic explosions in inflation in prices, probably around the world.
I am also a guy who thinks that inflation in prices is the Thing Most Feared (TMF) in [...]

The Eurozone’s current problems are not mainly a result a of prolifigate and reckless spending of government resources in the Eurozone periphery [1]. Even nobel laureate Paul Krugman has begun to forcefully push this argument arguing that the real source of the malaise is the steady build up internal Eurozone imbalances. I only conditionally agree. [...]

When a government spends money, there are only three places that money could have come from:

Taxation — by taking the money away from someone.
Borrowing — by temporarily taking the money away from someone, with a promise of returning it at a higher value.
Inflating — by printing money, which reduces the value of all the other [...]

Treasury Secretary Timothy Geithner said the country’s debt rating is not at risk because of the trillions of dollars of government spending to shore up the economy.
Asked on ABC’s “This Week” Sunday whether the government would lose its triple AAA sovereign debt rating, Geithner said: “Absolutely not and that will never happen to this country.”
Geithner [...]

… then he’s not serious about freezing or cutting spending.
Glenn Greenwald elaborates on just how friggin’ big and bloated the US “defense” budget is over at Salon. My shorter version:
The US spends almost as much as the rest of the world combined on “defense.” It spends six times as much as the next-largest “defense” spender [...]

If you want to understand Democrat fantasies in the absence of financial constraint or common sense, read Reed Hundt’s book, “In China’s Shadow.” Reed Hundt is a permanent member of the American politcal class, a Yalie, a partner in a high-powered law firm, head of Bill Clinton’s FCC, and a member of Barack Obama’s transition [...]

This is really a follow-up on my earlier piece today and my last 2009 piece on Eurozone imbalances and internal devaluation. In particular, I want to point you towards two things. Firstly, Edward has, no doubt after a long hard thought, come to the conclusion that Greece should be sent to the IMF or rather [...]

… and it really didn’t attract much notice with all the fanfare surrounding the vote on Cannibal Care, which passed and is now on its way to conference to tussle out the differences between the House and Senate versions.
Your second gift? The Senate voted to raise the “debt ceiling,” i.e. to give itself the authority [...]

Russia’s recessionary contraction has been marked with several distinct features. First, capital account deteriorated significantly. In Q3:2009 it posted a $23.7 billion deficit, reflecting net capital outflows as a result of recovery uncertainties, exchange rate and oil price volatility and the inability of the Russian banking sector of debt repayment. Thus, net capital flows to [...]