n my arguments regarding the erosion of democracy, the birth of the new aristocracy in America (the tremendous share of wealth controlled by the top 1%) and the growing underclass are two key issues. The existence of a healthy middle class, and a more moderate distribution of income has been a supportive element of America’s … Continue reading “Some numbers”
Extreme Medicine
In the past, I have referred to the monetary stimulus programs of the Federal Reserve as heroine. The Federal Reserve has not done anything to make the US economy healthier, but rather has made the economy seem better — similar to giving heroine to a junky. The heroine makes the junky feel better, but the … Continue reading “Extreme Medicine”
Income distribution disparity and Bubbles
There was a recent study that highlights the ongoing disparity of income distribution between the top 1% vs. the other 99%. (http://economix.blogs.nytimes.com/2013/09/10/the-rich-get-richer-through-the-recovery/?_r=0). The policies that have driven this polarization of the economy remain in place — mega-monetary stimulus by the Federal Reserve, similarly unprecedented deficit spending by state and federal government, and wage pressure on … Continue reading “Income distribution disparity and Bubbles”
Economic Policies of the End of Days
I will soon rewrite the piece with the same name to highlight more recent events. The Immigration Reform bill will further aggravate the pressure on the working class in America, as job exportation and illegal immigration has resulted in the lowest worker participation rate in history. Bernanke (and soon to be Yellen) have printed massive … Continue reading “Economic Policies of the End of Days”
The German Supreme Court busts a move….not
Last year, a number of plaintiffs, includes the Bundesbank, went to the German Supreme Court in an attempt to stop the ECB from implementing its announced Outright Monetary Transactions (aka OMT) program, where the ECB will buy ‘unlimited’ amounts of member states’ government debt. The plaintiffs argued that the OMT program violated agreed upon treaties … Continue reading “The German Supreme Court busts a move….not”
News Flash
The long awaited decision by the German Supreme Court regarding the ECB’s OMT program was released today. As we suspected, the court found that the OMT program was outside of the mandate of the ECB and that it violated rules prohibiting the monetarization of member government’s debt. However, the German High Court deferred its final … Continue reading “News Flash”
Silence of the Lambs
I really enjoyed reading the book, “Silence of the Lambs”. I read it way before the movie came out. However there is one quote that has stuck with me. When Hannibal Lecter was teaching Clarice about the mass murder, he asked her, “What is it in itself? What is its nature? … What does he do?” The same mode … Continue reading “Silence of the Lambs”
A breakup of the current EU?
In the past we have argued that a breakup of the EU as it is currently structured is consistent with the prophecies of Revelation. Consensus interpretation of the relevant scriptures is that the Beast will come to lead a 10 nation confederation, and the current EU has 28 member nations. We concede that there is … Continue reading “A breakup of the current EU?”
Bits and Pieces
Nationwide Identification Systems — necessary infrastructure for the Mark We have made note of the efforts of Washington DC to establish a nationwide identification system, by embedding the needed legislation within the details of the immigration reform bill. Now we have word that the FBI is also making a new nationwide identification system that will … Continue reading “Bits and Pieces”
America goes Latin
America has gone Latin, and I am talking about the economy. Historically, South America countries have had problems with high inflation — even bouts of near hyper-inflation. Even today countries like Venezuela and Argentina still suffer from extremely high levels of inflation. Despite the Federal Reserve complaining that inflation is too low, the ‘realized rate … Continue reading “America goes Latin”