Coming soon to a country near you?

From Jim Rickards' @jamesgrickards Currency Wars: The Making of the Next Global Crisis. #currencywars Rickards is speaking here about alternatives to Keynesian economic theory.The most promising new school is complexity theory. Despite the name, complexity theory rests on straightforward foundations. The first is that complex systems are not designed from the top down. Complex systems… Continue reading Coming soon to a country near you?

Iceberg ahead, Sir! Steady as she goes, Helmsman.

Nancy Pelosi is being coy about her support for the Government bailout of the Government. Congressional Liberals are whinging about 'Satan Sandwiches.' The statist street is suggesting Obama has betrayed them - again. The Vice President called the tea party "terrorists." "Hostage takers," is the Progressive phrase of the day. If the hard left doesn't… Continue reading Iceberg ahead, Sir! Steady as she goes, Helmsman.

If the tea party are Hobbits, John McCain is Boromir

Nominations for Grima Wormtongue are open.John McCain quoted the Wall Street Journal the other day to the effect that tea party aspirations for an end to fiscal insanity resemble a J. R. R. Tolkien fantasy....[T]he tea-party Hobbits could return to Middle Earth having defeated Mordor.Yesterday, the Journal found it expedient to explain the obvious:These columns… Continue reading If the tea party are Hobbits, John McCain is Boromir

Twenty Two and Sixty

Who voted for a "voluntary abandonment of further credit expansion:"Justin Amash (Mich.)Michele Bachmann (Minn.)Chip Cravaack (Minn.)Jason Chaffetz (Utah)Scott Desjarlais (Tenn.)Tom Graves (Ga.)Tim Huelskamp (Kans.)Steve King (Iowa)Tim Johnson (Ill.)Tom McClintock (Calif.)Mick Mulvaney (S.C.)Ron Paul (Texas)Connie Mack (Fla.)Jim Jordan (Ohio)Tim Scott (S.C.)Paul Broun (Ga.)Tom Latham (Iowa)Jeff Duncan (S.C.)Trey Gowdy (S.C.)Steve Southerland (Fla.)Joe Walsh (Ill.)Joe Wilson (S.C.)Tim Walberg… Continue reading Twenty Two and Sixty

The United States has already defaulted

There is no means of avoiding a final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion or later as a final and total catastrophe of the currency system involved.– Ludwig von MisesThe tea… Continue reading The United States has already defaulted