As a way for people to build wealth, this economic model of the Bubble Period was as ineffective as a bad banker. It was a ‘have your cake and eat it too’ school of financial success with an obvious flaw. People noticed it when the correction began.
May 11th, 2009 | Bill Bonner | 2 comments | ContinuedAll Posts Tagged With: "ben bernanke"
Most Government Services Are Disservices
Each year since the war, government budgets have gone up. Now, there are more people getting money from the government than there are taxpayers. And what do the taxpayers get for their money?
May 8th, 2009 | Bill Bonner | 2 comments | Continued
Government Intervention for Economy Makes Things Worse
In the wake of this change of heart on the part of our leaders, Americans found themselves bombarded with a predictable and relentless refrain: the free market economy has failed.
May 6th, 2009 | Thomas E. Woods, Jr. | 2 comments | Continued
RBA Hoping it Has Done Enough for Economy
For now, at least for this week, it sure does look like the appetite for risk is back. The U.S. dollar and Japanese Yen are weak, while commodity currencies like the Australian, New Zealand, and Canadian dollars are up. Bond prices are down, stocks are trending up, and even oil is creeping back over $50, looking to make a breakout.
May 6th, 2009 | Dan Denning | 5 comments | Continued
Daily Reckoning Plan to Save the World
But there was no container large enough to hold the subprime losses. Each time one was set out, it quickly overflowed. The latest reports tell us that the bilge is now 500 times deeper than the Fed head forecast…and still rising. And this comes after $11.7 trillion has been committed in the US alone to pumping it out. Whether the plumbers are plain idiots or clever rogues, we can’t say, but it should be obvious after two years of watching them, their pumps don’t work.
March 16th, 2009 | Bill Bonner | 0 comments | Continued
Dow Shows Signs of Life
Stocks in the United States have lost $11 trillion in value – more than cut in half – without a single major bounce. We expected one after Obama was elected. All we got was a 15% ricochet. Then, after he announced his major stimulus/bailout/boondoggle program…we thought, surely, stocks would rally then. Nope. Instead, globally, stocks are down 20% since Obama office.
March 12th, 2009 | Bill Bonner | 0 comments | Continued
Fire Chief Bernanke
The Federal Reserve, under the leadership of Ben Bernanke, called out all the fire trucks and opened up all the hoses. Rates were cut to zero…and the Fed expanded its balance sheet – increasing the amount of credit available to the banking system – by nearly $1 trillion.
March 3rd, 2009 | Bill Bonner | 4 comments | Continued
Bunch of Turkeys
A bunch of turkeys have hijacked our monetary system and all they know is how to print money. Rather than let the market clear itself out, central banks continue to use taxpayers’ money to bail out insolvent institutions. This brilliant strategy has NEVER worked in the past and it will not work this time around. Instead of robbing innocent people of their savings, the establishment must allow the weak banks to go bust…
February 26th, 2009 | Puru Saxena | 3 comments | Continued
Give Liquidation a Chance!
If our hotline rings and Mr. Obama is on the phone, we know what advice we will give: Let the banks fail. Let them go broke. Let them be liquidated. Then, the surviving banks could buy up the decent assets and emerge stronger than ever…
February 26th, 2009 | Bill Bonner | 3 comments | Continued
Here Come The Commies
Stocks in the U.S. were up overnight. Here in Australia, the blind are following where the deaf boldly lead. But is anyone listening? Or is everyone too busy hoping? What we’re talking about are Ben Bernanke’s comments. The news headlines read that he predicted the recession will end later this year and the American economy will recover in 2010. But that’s not exactly what he said.
February 25th, 2009 | Dan Denning | 4 comments | Continued
Signs of Life
Here’s a thought: if Washington can set salary caps on Wall Street because taxpayer money is involved, why can’t the rest of America set salary caps on American legislators? Those clowns get government money every single day. They even spend money they don’t have by robbing from generations of unborn Americans. And they’ve run regular structural budget deficits for decades!…
February 5th, 2009 | Dan Denning | 1 comment | Continued
Fight Fire with Fire!
Fight fire with fire! All over the world people suffer from the mistakes they made in the go-go years. They spent too much. They borrowed too much. They paid too much. Now, all those bad debts, bad investments, and bad balance sheets are burning up – scorching fingers all over the planet. So what do the feds do to try to fix this problem? Fight fire with fire! Throw some more tinder onto the blaze…get people to borrow, spend and speculate even more!…
January 16th, 2009 | Bill Bonner | 2 comments | Continued
The Fed’s War on Cash
It’s what we call the Fed’s war on cash. You see, the Fed is driving down yields on government bonds and notes of all maturities quite deliberately. More on what it’s up to below. But it’s not just the Fed that’s pulling out all the monetary stops to float the world on a sea of credit. It’s a now a race to the bottom for central bank interest rates. New Zealand’s central bank cut its main interest rates by a whopping 1.5% overnight…
December 4th, 2008 | Dan Denning | 1 comment | Continued
We Are All Turkeys, Waiting for the Axe
Ben Bernanke would describe the turkey’s life – with no setbacks – as the product of a “great moderation.” Turkey stockbrokers would assure their clients that nothing had ever gone wrong in the turkey’s life…
November 27th, 2008 | Bill Bonner | 0 comments | Continued
A look at the Federal Reserve
let’s look at what the Federal Reserve is doing… As you’ll recall, the main man at the Fed, Ben Bernanke, has spent almost his entire life studying what went wrong…
November 21st, 2008 | Bill Bonner | 2 comments | Continued
