Expect a 20% rise in tide on top of the epic debt. Got a life jacket?
"Government," said the economist Ludwig von Mises, "is the only agency which can take a useful commodity like paper, slap some ink on it, and make it totally worthless."
Mr. Bernanke's plans for "quantitative easing" (creating money out of thin air) won't make our dollars worthless. But it will make them worth less.
Bernanke Vs. China on Inflation: It’s the Food, Stupid
Really fascinating to see the tug-of-war between the policy makers in China and the U.S. gather steam this morning.
For those who haven’t been paying attention, the Fed is flooring the gas pedal to try to get the U.S. economy moving, by essentially creating money electronically and using it to buy U.S. Treasurys. (That’s the QE policy everybody has been talking about.
Bernanke Employment Goal Elusive With Profits Bringing No Jobs
Not far from where Federal Reserve Chairman Ben S. Bernanke grew up, a revolution inside a Campbell Soup Co. plant explains why U.S. corporations are piling up profits -- with little need to hire more people.
“When markets shut down, and capacity expansion comes to a halt, companies direct all of their capabilities toward harvesting untapped cost-saving innovations accumulated during the previous boom,” said Greenspan, who now works as a private consultant in Washington. “We have been experiencing this harvesting for a year or so. You have to ask the question: Are we running out of backlog?”