The nice thing about an economic depression is that it cures a depression. Stocks collapse. Businesses go broke. Speculators jump from tall buildings. Wages fall. Prices drop. Interest rates sink. And then, with the cost of assets, labor and credit at rock-bottom levels, the scrap dealers, recyclers and entrepreneurs get to work.
December 22nd, 2011 | Bill Bonner | 2 comments | ContinuedAll Posts Tagged With: "Paul Krugman"
Krugman Strikes Again
Although there is far more happening in the world outside of Mr. Krugman’s brain than within it, fresh drivel from the acclaimed Nobel Prize winner compels me to turn my focus there once again.
In today’s column, Krugman analyzes the Greek debt crisis,
Krugman and His Hoover History
Without technically lying, Krugman perpetuates the myth that Herbert Hoover insisted on budget austerity in the midst of the Great Depression.
March 26th, 2010 | Robert P. Murphy | 0 comments | Continued
US Economy Still in a Deflationary Contraction
Most people think the economy will muddle through somehow…thanks to all those geniuses working at the Department of the Treasury and the Fed.
February 25th, 2010 | Bill Bonner | 0 comments | Continued
Occurences Within Economy Consistent With a Depression
“How can you keep talking about a depression,” asks a Dear Reader, “when the economy is clearly recovering just as it should be.”
February 24th, 2010 | Bill Bonner | 10 comments | Continued
Everyone is Getting Tough on Bankers
Good ol’ Paul Volcker is giving them hell. He told a group of bankers that the only innovation they came up with that actually added value was the automatic teller machine.
December 16th, 2009 | Bill Bonner | 2 comments | Continued
China and its Trade
In the early 19th century, traders from Britain and America bought porcelain (china), silk and tea. Trouble was, they could find nothing to sell in exchange.
November 23rd, 2009 | Bill Bonner | 1 comment | Continued
US Economists Think China Should Raise the Value of Yuan
China is today’s big story. Throughout the world’s media there is much buzz and blather about the “romance”…the “historic relationship”…between the two titans.
November 19th, 2009 | Bill Bonner | 0 comments | Continued
U.S. Government Must Roll Over $3.4 Trillion in Debt Over Next Four Years
And if America can’t find anyone willing to finance its deficits, what then? Well, the luxury of issuing debts in the currency you also print is that you can print money to pay for them. Technically, you can never become insolvent when you enjoy this privilege. The Fed, for example, can create new money to buy debt issued by the Treasury, funding deficits ad infinitum.
November 3rd, 2009 | Dan Denning | 5 comments | Continued
What’s the Best Way to Get Through a Debt Crisis?
For at least a thousand years, the business cycle went round and round without help from central bankers or economists. It is only since these geniuses have been on the case that really serious problems have arisen.
November 2nd, 2009 | Bill Bonner | 4 comments | Continued
Bankers Betting That the Money Given by Feds Will Be Worth Less Next Year
So far the bet has gone their way. Copper has doubled. Gold is up 20%. Stocks markets all over the world are up 60%. Foreign currencies, too, have beaten the dollar.
October 27th, 2009 | Bill Bonner | 2 comments | Continued
Government Debt
And that assumes there is no big increase in interest rates…and that the economy recovers as planned. If either of those things fails to happen, the situation will degrade fast.
October 26th, 2009 | Bill Bonner | 0 comments | Continued
Markets Rise While the Economy Sinks
The problem is that the global economy in general, and the US economy in particular, is operating on so much medication that it is difficult to conduct an appropriate examination of the patient at the current time.
September 21st, 2009 | Bill Bonner | 0 comments | Continued
America Loves the Word “Recovery”
All this goes to show is how completely the people in charge of things in the United States have lost their minds. They seem to think this mass exercise in pretend will resurrect the great march to the Wal-Marts, to the new car showrooms, and the cul-de-sac model houses…
August 28th, 2009 | James Howard Kunstler | 2 comments | Continued
Paul Krugman Advised the Bank of Japan to Purposely Cause Inflation
So I told him, “I like it fine, except I wanted lobster! Rich, flakey lobster to dip into real melted butter so wickedly delicious that you can actually hear your arteries hardening from just looking at it; but I can’t order lobster because inflation in prices…
August 18th, 2009 | Mogambo Guru | 4 comments | Continued
