PERPETUAL GROWTH IS IMPOSSIBLE: We’ve all heard the story of the clever merchant who asked the King to pay him with grains of wheat placed on a chessboard. On the first square he was to receive one grain; on the second, two grains; on the third, four grains — doubling with every square up [...]
Jean-Baptiste Say, economist and exponent of the attainment of truth through logic and observation
by Kevin Alfred Strom
THE FACT THAT the fetid “economic stimulus” nonsense that continuously emanates from the professional plunderers in Washington is accepted by intelligent people is disturbing to me.
The idea that politicians can actually give us “free” anything [...]
BANKRUPTING THE COUNTRY?: Many economists these days are expressing fears that the “stimulus” program and spending sprees of the regime in Washington could lead to severe inflation, “bankrupting the country.” They make a good case, but it’s a little confusing when they refer to bankrupting the country when really they’re referring to bankrupting the [...]
RUSSIA FAVORS EURO OVER DOLLAR: According to Pravda, “the U.S. dollar is not Russia’s basic reserve currency anymore.” Though dollar-based assets at Russia’s central bank are still substantial at over 40%, they are dropping and have now been exceeded by Euro-based assets.
FEDERAL RESERVE KEY RATE NOW 1%: As the BBC says, this means the Fed is now “running out of rates” to boost the economy; of course, they could always go to negative interest rates and toss pre-approved loan applications out of airplanes. Maybe they should take my suggestion: make Monopoly money legal tender — [...]