Why is the biggest story of the day? Because Ben Bernanke is a well-intentioned arsonist. Bernanke inherited an American and global economy built on an upside down pyramid of debt, with a very small asset base. When the entire edifice began to collapse in 2007, the Fed Chairman was slow to react.
August 26th, 2009 | Dan Denning | 1 comment | ContinuedAll Posts Tagged With: "Treasury debt"
Paying More Than 3 Times as Much for Gold
The price of oil remains at $62…the American peso is still trading for peanuts ($1.39 against the euro)…and gold lost about $5 yesterday; it trades this morning near $953.
Do you have your positions in gold, dear reader? We hope so.
May 28th, 2009 | Bill Bonner | 12 comments | Continued
A Government of Spendaholics
In one freaking year! I thought that TheBurningPlatform.com was going to comment on this astonishing fiscal irresponsibility of Congress and the Federal Reserve, but instead they commented on the $787 billion, 1,074 page stimulus bill that was just signed by Obama by noting, “The current ’stimulus’ package of $787 billion is more than the entire National Debt in 1978 ($771 billion).”
March 3rd, 2009 | Mogambo Guru | 0 comments | Continued