Tag Archives: Economics

Barack Obama’s Nixonian Fed Pick

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“As a result of the Fed’s Quantitative Easing programs, banks are now sitting on more than $2.2 trillion in excess reserves. How the Fed eliminates these excess reserves before they produce an explosive growth in the money supply and surging inflation should be more of a concern to the next Fed Chair than an unemployment rate that is more the product of uncertainties associated with deficit spending and business fears about Obamacare than any lack of liquidity caused by the Fed. Yellen’s defenders say there’s nothing to worry about. As Georgetown University professor Henry Holzer put it, Yellen is fully aware of inflation and not a ‘mindless stimulator.’ Others aren’t so sure.”

http://www.independent.org/newsroom/article.asp?id=4757

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Bill Bonner: Civilization Versus Barbarism

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“US stocks and gold were calm on Friday. Nothing much to report.  So, we’ll return to a subject we’ve been working on: the real difference between civilization and barbarism.  Why does this matter to you?  Because it is critical to understanding what money is… why the Fed will fail… why the dollar will disappear… and why you should own gold.  It’s something that has been a big focus at Bonner & Partners Family Office, the family wealth investment advisory service my eldest son, Will, and I started four years ago.  Our goal is to turn individual wealth into family wealth. And that means making sure it’s there for generations to come. Obviously, these questions are foremost in our minds.”

http://www.bonnerandpartners.com/civilization-versus-barbarism/

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The Tragedy of Detroit: “It Didn’t Have to Be This Way”

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“‘Detroit developed best when it was bottom-up,’ says Harry Veryser, economist and professor at University of Detroit Mercy. ‘When small communities, small parishes, small schools were formed… that’s when Detroit prospered.’  Veryser, author of It Didn’t Have to Be this Way: Why The Boom and Bust is Unneccessary and How Austrian School of Economics Breaks the Cycle, sat down with Reason TV to talk about his experience growing up in Detroit, what went wrong, and how to fix it.”

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Mises Explains the Drug War

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“‘Why limit the government’s benevolent providence to the protection of the individual’s body only?’ Mises asks. ‘Is not the harm a man can inflict on his mind and soul even more disastrous than any bodily evils? Why not prevent him from reading bad books and seeing bad plays, from looking at bad paintings and statues and from hearing bad music?’ When it comes to bad habits, vices, and immoral behavior of others, in contrast to the state, which does everything by ‘compulsion and the application of force,’ Mises considered tolerance and persuasion to be the rules. ‘A free man must be able to endure it when his fellow men act and live otherwise than he considers proper,’ Mises explains.”

http://mises.org/daily/6563/Mises-Explains-the-Drug-War

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Carlyle Cuts Apartment Holdings After Rent Growth Slows

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“Carlyle Group LP (CG), the private-equity firm with more than a third of its $2.3 billion U.S. real estate fund in apartments, is reducing holdings of multifamily housing as rent growth slows from a post-recession surge. The company is considering apartment sales as rising construction reduces multifamily shortages and price gains for rental properties make them less attractive for private-equity firms that seek returns of 20 percent or more, said Robert Stuckey, the Washington-based firm’s head of U.S. real estate investing. Carlyle has invested or committed about $800 million of equity in 61 multifamily properties since the start of 2011, he said.”

http://www.bloomberg.com/news/2013-10-01/carlyle-cuts-apartment-holdings-after-rent-growth-slows.html

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Bill Bonner: Why the “Shutdown” Critics Have It All Wrong…

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“Few people are content with Thomas Jefferson’s kind of government. They want Hillary Clinton’s kind. But as it grows, government quickly reaches the point of declining marginal utility.  Then it slips into its bad habits – like grand larceny.  The money that was supposedly ‘taken out’ of the economy didn’t disappear. It remained with its rightful owners: neither stolen, nor redistributed. The zombies were short $24 billion. But the productive sector was ahead.  And what were the feds going to do with that $24 billion?”

http://www.bonnerandpartners.com/why-the-shutdown-critics-have-it-all-wrong/

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Tuur Demeester: Why You Should Invest in Bicoin

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“Tuur Demeester is author of the financial newsletter MacroTrends, that goes out to investors in Belgium and the Netherlands. In January 2012, he added Bitcoin as part of the recommended currency basket. After reading Ludwig von Mises’ Human Action as a student, Tuur decided to drop out of university and pursue his studies in a self-directed manner. He co-founded the Murray Rothbard institute in 2007 and later translated Jesus Huerta de Soto’s ‘Money, Bank Credit, and Economic Cycles’ into Dutch. He also co-founded two private schools, one in Belgium and one in the Netherlands. Tuur Demeester has so far lived in nine cities and traveled to thirty countries.”

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Janet Yellen: An Insane Choice for a Debt-Crazed Economy

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“I have no idea if she is competent. Competence in an economist is hard to measure, like knowing whether your auto mechanic is really any good.  As for vital attributes, the Times did get one right. ‘She represents continuity,’ the Times wrote. That pretty much says it all. Janet Yellen is establishment all the way. She won’t wobble the canoe. She’s not a Paul Volcker coming in to break things up.  And that’s all you need to know about Yellen. She’s got the same playbook in her pocket as Bernanke. If anything, there are hints she’ll be even more aggressive in printing money than Bernanke.”

http://dailyreckoning.com/janet-yellen-an-insane-choice-for-a-debt-crazed-economy/

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Bill Bonner: Congress Marches Arm In Arm Toward Catastrophe

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“The volatility index – the VIX – shows the market to be surprisingly calm.  Yesterday, the Dow rose 205 points. Gold rose modestly too – plus $9. The VIX dropped nearly 20%. What does it mean? Well, it implies that no one is taking the threat of default seriously. Everyone expected a last-minute deal. When the chips were down, they reasoned, the pols would get their act together. One way or another, they’d shake hands… and continue marching, arm in arm, toward a real debt catastrophe! Except that hardly anyone sees a catastrophe coming.”

http://www.bonnerandpartners.com/congress-marches-arm-in-arm-toward-catastrophe/

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Bill Bonner: My Very Own Argentine Welfare Program

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“Where does real wealth come from?  We will answer the question ourselves: Not from the Fed. Not from the government. Not from stimulus programs. Not from the Democrats. Or the Republicans. Or the Tea Party. Not from Obama. Not from a bipartisan agreement to extend spending and pretend that the feds can pay their bills. Nope. No gimmicks. No magic. No claptrap formulas. Wealth comes from work, savings and innovation. Typically, somebody works long hours, saves money and starts a business that produces something people want.  But now, in the mountains of Argentina… as on the fruited plains of the United States of America… the wealth machine has begun to sputter and choke.”

http://www.bonnerandpartners.com/my-very-own-argentine-welfare-program/

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