Archive For: February 2014

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Friday FOMC Memories: Wachovia and Bagehot

Despite the obvious disinterest from pretty much everyone in the media, I still find tremendous relevance and value in the 2008 FOMC. The entire year was spent in a comedy of errors

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Eurozone in Deflation; Monetarist Mouthpieces Will Scream

The true measure of inflation is credit expansion. And for the second month, credit contracted in the Eurozone.

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Troubling Increase in Initial Unemployment Claims A Bad Omen For Stock Prices

For the first time in 2014, initial unemployment claims were higher than the same week a year ago.

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Yes the Government is Spying on You Through Your Webcam – Another “Conspiracy Theory” Proven True

I still remember many years ago in response to becoming aware of the possibility that my computer webcam could be accessed remotely I decided to put a piece of duct tape over the camera.

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Heavy Construction Exports Fell 25% But You've Not Seen Nothing Yet

Here is another illustration of the Great Deformation unraveling in plain sight. This particular Reuters story is typical of the bubble blindness of the mainstream financial press---of which Reuters is among the worst offenders.

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Further Behind

as the hope of QE magic and mysticism turns against the reality of shoppers growing ever-poorer (itself a full part of QE), what’s left is really a cleanup of so much misallocation.

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Bitcoin has theory and history on its side

Bitcoin as a monetary concept is potentially a work of genius, and even if Bitcoin were to fail in its present incarnation – a scenario that I cannot exclude but that I consider exceedingly unlikely – the concept itself is too powerful to be ignored.

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Encore Broadcast: Crony Capitalism | Moyers & Company

“We now have an entitled class of Wall Street financiers and of corporate CEOs who believe the government is there to do… whatever it takes in order to keep the game going

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U.S. Senator Wants to Ban Bitcoin – To be Followed by Book Burning and Witch Hunts

Whenever you hear a politician say he or she wants to do something to “protect hard-working Americans,” you know this person is so full of shit that whatever proposal being peddled should be treated with extreme skepticism.

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Home Sales Follow Mortgages

On an unadjusted basis, the actual number of homes sold in January 2014 was 34k, which was only 6% more than January 2013.

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