In a must-read essay, Niall Ferguson slams the prevailing Keynesian consensus, and says that the sovereign debt crisis in Greece will spread to America:
What we in the western world are about to learn is that there is no such thing as a Keynesian free lunch...
US government debt is a safe haven the way pearl harbor was a safe haven in 1941.
And in a must-watch interview, Marc Faber says that the US, Europe and the entire developed world will default on their debt:
→ Thank you for contributing to the conversation by commenting. We try to read all of the comments (but don't always have the time).
→ If you write a long comment, please use paragraph breaks. Otherwise, no one will read it. Many people still won't read it, so shorter is usually better (but it's your choice).
→ The following types of comments will be deleted if we happen to see them:
-- Comments that criticize any class of people as a whole, especially when based on an attribute they don't have control over
-- Comments that explicitly call for violence
→ Because we do not read all of the comments, I am not responsible for any unlawful or distasteful comments.
These inflationistas are ultra-conservative ideologues. The risk now is deflation and Great Depression II. The overnight rate is at the zero bound, and the yield curve is flat. What inflation threat?
ReplyDeleteNice review. Really a great list of top blogger who are making thousands of dollars! I've learned a lot of useful thing from this post. Thanks a lot for sharing such an incredible post with us. Keep blogging. Looking forward to reading your next post.
ReplyDeleteI love the end of this video where CNBC tries to stick it to Faber, almost accusing him outright of being wrongly bearish at the bottom in March. He then tells them they need to watch Bloomberg, where he said to go long stocks in a March 6th interview lol.
ReplyDeleteThis video is a classic!
The debt is wholly contrived, based on the debt-based creation of checkbook money at banks, and the printing and issuance of fiat currency, which the central banks exchange for interest bearing gov't bonds, essentially trading nothing of any real value for the very real value of human labor, via the income tax system.
ReplyDeleteThis system has nothing to do with the creation or real wealth through value-adding application of human labor to natural resources, it is purely imaginary, and therefore unsuitable for the real world. This system, and the false and hopeless indebtedness it generates, and the concentrations of both wealth and poverty ir creates, must be repudiated and cast aside, once and for all, never to be seen again.
If our so call, highly educated idiots, in DC. had stuck to the Constitution, we wouldn't be in the mess we are in now, and the world would be in better shape than it is now. During the time the US. Constitution was the Law of the Land, most all Countries of the world respected the United States, and for the most part, those countries prospered.
ReplyDeleteMaybe we should get back to the way things were instead of trying to change things in a Socialist way!
What do you expect from the spinmeisters @ MSNBC, which is a wholly owned subsidiary of the war-profiteering General Electric corp? That fat cow Sue Herera knows who butters her bread.
ReplyDeleteThis is ridiculous. They are all going to fail!!! Its exactly like Jim Sinclair has been saying for 5 years now. Read his sire jsmineset and check out his new book - A Pocketbook of Gold. He's the largest private Gold trader on the planet and has called every move of this disaster since day 1
ReplyDeleteGreece is just the tip of a black iceberg rapidly moving towards the Titanic (the rest of the world). The global Ponzi schemes called economies are about to fall like nothing you've ever seen. Be afraid, be very afraid...
ReplyDelete