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  • Forget 2% Inflation, The Fed Is Going To Need To Cure Deflation And Not Hike Rates [View article]
    You are right that raising interest rates will cause deflation. But raising inflation will not necessarily increase productivity or aggregate demand.

    "At the same time, as we become more productive and can then consume a greater amount of goods and services, we need more money for those purchases too."
    -In the 1880's the US had deflation, lower prices, more productivity, more demand, and a higher standard of living (higher standard of living is the goal, not consumption or productivity or demand ect, which are proxies).

    "Falling prices or deflation would be bad in a debt-based money system, as it would make paying off loans more difficult."
    -BUT it would discourage malinvestment, encourage creative destruction, encourage and reward saving as opposed to more and more debt.
    Sep 5, 2015. 10:21 AM | 7 Likes Like |Link to Comment
  • What Makes Debt So... Sustainable? [View article]
    If you have the Bank of Japan by the balls, and you are cartelized with all the major national industries (Sony, Toyota, et. al) they will gladly monetize on the backs of the taxpayer's grandkids.
    Aug 6, 2015. 07:34 PM | Likes Like |Link to Comment
  • Japan Proving The Monetary Black Hole [View article]
    I love reading the common sense analysis of an Austrian economist.
    Jul 19, 2015. 10:31 PM | 5 Likes Like |Link to Comment
  • China Crash? [View article]
    The comrades will not allow creative destruction to work it's re-allocative elixir on the Chinese economy. Politicians/Central Planners never seem to learn...
    Jul 7, 2015. 04:29 AM | 3 Likes Like |Link to Comment
  • Abolish Cash So As To Make Negative Interest Rates Easier? [View article]
    The Danish proposal is shear idiocy! The funniest thing in the Telegraph article is how outlawing cash would "prevent black market transactions." Lenin tried the same thing in Soviet Russia making the black market actually bigger than the "real" (government-sanctioned) economy. The social democrat statists will sure enough kill their golden goose with such an extractive policy. Not to mention destroying the market's price discovery mechanism for savings and investment.
    May 17, 2015. 11:08 AM | 6 Likes Like |Link to Comment
  • Bitcoin Is The Ultimate Fiat Currency [View article]
    What we are seeing with bitcoin is price discovery, it will take a while for virtual currencies to become trusted and widely used. It will be a bumpy ride until then. If central banks keep printing and regulating, we can count on seeing the rise of more and more crypto currencies; I am excited to see which one may become established for general use. Perhaps it will be bitcoin, perhaps something else.

    Central banks, want their cake and to eat it too. They print print print, and when some other better, more efficient method of exchange comes along they try to squash it. But the market will find a way around their shenanigans; it always has, usually by going back to precious least for the past 6000 years anyway.
    Dec 10, 2013. 05:05 PM | Likes Like |Link to Comment
  • Now Is The Time To Be Fearful [View article]
    subsidizing an industry causes costs to go up not down
    Sep 19, 2013. 02:20 PM | 59 Likes Like |Link to Comment
  • Is Abenomics Over? I Don't Think So. [View article]
    If Japan were a company, and I saw a balance sheet like this, and demographics like this, and now a trade deficit and declining demographics... I'd sell!
    Jun 10, 2013. 05:21 PM | 3 Likes Like |Link to Comment
  • The U.S. Doesn't Have A Debt Crisis: Don't Let It Scare You Out Of Stocks [View article]
    It will be interesting to see events unfold in Japan. They have a trade deficit now, a debt to GDP of 245%, a demographic crisis, and interest on their debt consuming > 50% of total govt revenue, and the BOJ recently increasing bond purchases and yeilds went UP! IMO, Japan is going bankrupt and will default within 2 years. US not far behind.
    Jun 10, 2013. 05:12 PM | 3 Likes Like |Link to Comment
  • Rising Stock Market And Housing Recovery Bring U.S. Household Net Worth To A New Record High [View article]
    In real terms however...the picture is not quite as rosy (as you know); and I fear the re-inflation of the s&p and housing prices is going to make a plastic banana out of our "new and improved" economy.
    Jun 6, 2013. 06:58 PM | 1 Like Like |Link to Comment
  • Jamie Dimon: 'As We Go Back To Normal, It's Going To Be Scary' [View article]
    The FED can't stop their purchasing of bonds. They have a dual mandate; stable inflation/deflation and employment. Currently unemployment is just under 8% and the CPI back down to 2.1%. Also, our debt of 17T will be much more burdensome to finance if rates rise. Given the G7 currency wars, I doubt the US will sit idly by and watch Abe et al depreciate their currencies and wipe out our exporting competitiveness (or what's left of it). Market volatility and asset bubbles are the new norm, and I think are here to stay, accelerating until we hit the wall that Japan is going to run into first. That's when total govt revenue is less than the INTEREST on outstanding debt (currently Japan is at about 50%). That's when a country defaults.
    Jun 6, 2013. 06:42 PM | 3 Likes Like |Link to Comment
  • Dr. Doom Has Gold Going Below $1,000: Why His Thesis Is Spot On [View article]
    you can't print gold
    Jun 5, 2013. 09:36 AM | 2 Likes Like |Link to Comment
  • Dr. Doom Has Gold Going Below $1,000: Why His Thesis Is Spot On [View article]
    In a fiat currency, we the people are dependent on the government for producing, protecting, inflating/deflating, regulating and enforcing the integrity of the currency. The currency itself has no intrinsic value.

    In a metal based currency, the government and it's borrowing and spending depends first on the production and taxation of it's people.

    Alternatives to the US dollar, like gold, silver, and bitcoin, will be smacked down by the powers that be to preserve the status quo. Right now, the status quo is the petrodollar, but that will not be for much longer. As every fiat currency has found throughout history, something better will soon take it's place.
    Jun 4, 2013. 08:31 PM | 3 Likes Like |Link to Comment
  • The Equivalent Of Cyprus Gold Reserves Have Just Gone Offline [View article]
    Since when did silver trade on fundamentals, supply and demand? I thought JP Morgan controlled the price with their massive short position.
    Apr 22, 2013. 07:12 PM | 5 Likes Like |Link to Comment
  • Gold's Crash, Europe's Woes Signal Global Decline: Companies To Watch [View article]
    The western world's debts are too high, they will have to continue to accelerate the monetization process through "currency wars." Entitlements in the EU and US are unsustainable with no political will or even understanding to change them intelligently. The demographic trends with an aging population in the EU, Japan, and US are also concerning. I don't see how we "grow" our way out of this mess. I see decades of stagnation with tepid inflation; stagflation. Invest accordingly!
    Apr 22, 2013. 07:04 PM | 7 Likes Like |Link to Comment