In an article we published on August 16th, called Markets Crashing, Gold Rising the author said, "The probability of U.S. interest rate hikes this fall is now falling a rock. We are once again hearing the familiar call from Keynesian economists, including Paul Krugman, for more stimulus and debt. They acknowledge the trillions already printed and borrowed haven’t worked – but say it is only because it wasn’t nearly enough." As a matter of fact, Krugman has been beating the same drum since 1998 when he said, "The clear and present danger is, instead, that Europe will turn Japanese: that it will slip inexorably into deflation, that by the time the central bankers finally decide to loosen up … [Read more...]
Living in a Free-Lunch World
It seems that every once in a while, we awake from a deep sleep with what appears to us to be a brilliant revelation. Unfortunately, if we don't write them down they are usually forgotten by morning. Sometimes in the light of day they turn out to be totally ridiculous... but occasionally they actually do turn out to be a flash of inspiration. I had one such experience a few weeks ago. Of late I have been increasingly disturbed by the growing gulf between Liberals and Conservatives. It seems that they can't find any common ground and for all intents and purposes might be living on entirely different worlds. My revelation, although perhaps not earth-shattering, was to me at least … [Read more...]