Terry Coxon of Casey Research discusses the effects of deficits on the economy and politics. ~editor Deficits: How Far to the Wall? By Terry Coxon, Casey Research Decades of manipulation by the Federal Reserve (through its creation of paper money) and by Congress (through its taxing and spending) have pushed the US economy into a circumstance that can't be sustained but from which there is no graceful exit. With few exceptions, all of the noble souls who chose a career in "public service" and who've advanced to be voting members of Congress are committed to chronic deficits, though they deny it. For political purposes, deficits work. The people whose wishes come true through the … [Read more...]
Hyperinflation and Double-Dip Recession Ahead
An interview with Karen Roche of The Gold Report Economic recovery? What economic recovery? Contrary to popular media reports, government economic reporting specialist and ShadowStats Editor John Williams reads between the government-economic-data lines. "The U.S. is really in the worst condition of any major economy or country in the world," he says. In this exclusive interview with The Gold Report, John concludes the nation is in the midst of a multiple-dip recession and headed for hyperinflation. The Gold Report: Standard & Poor's (S&P) has given a warning to the U.S. government that it may downgrade its rating by 2013 if nothing is done to address the debt and deficit. … [Read more...]
Depression Within a Depression
By James Quinn, Contributor, The Casey Report Regular Casey Report contributor James Quinn is the head of strategic planning for one of the world's most prestigious business schools and the host of TheBurningPlatform.com blog. In this article, he is presenting historical indicators that may tell us what’s in store for the U.S. economy. In recent months, worshippers at the altar of Keynes have been hyperventilating over the possibility Congress will run a deficit of “only” $1.5 trillion in 2010. They have issued dire proclamations about a replay of the 1937-1938 Depression within the Great Depression. White House favorite and #1 Keynesian on the planet, Paul Krugman, declared that not … [Read more...]