Archive For: November 2014

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Ritual Incantation-----The Economic Gibberish Of The Keynesian Apparatchiks

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Bill Gross Should Stick To Shuffleboard-----His Case For Bigger Deficits Is Ludicrous

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Good Riddance To QE----It Was Just Plain Financial Fraud

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The Berlin Wall Fell 25 Years Ago Due To The Impossibility Of Soviet Socialism, Not The Reagan Defense Buildup

Nonetheless, such analysis ignores the huge elephant in the room which is the inevitable failure of regimes that are built on central planning and wealth re-distribution. Without markets and prices, there can be no planning, and without planning, no wealth creation, and ultimately, no political durability. The rebels and demonstrators of Eastern Europe deserve immense credit for courageously standing up to the state. But in the end, those who were successful were helped immensely by good timing and bad economics.......

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Something Wrong? Layoffs Explode In America’s Big Old Tech

Job cut announcements double from a year ago. Worst since 2009.

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The Pressure to Escalate: The Phantasmagoric World of Washington

Escalation is now a structural fact embedded in the war in the Middle East and the Ebola crisis here at home. It has its constituencies and they are powerful. It is fed by a blend of hysteria and panic that now passes for “the news,” heightened by the ministrations of the social media. Escalation, it turns out, is in the interest of everyone who matters -- except us.......

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The BOJ Jumps The Monetary Shark-----Now The Machines, Madmen And Morons Are Raging

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The BLS' Hedonic Quality Adjustment (HQA) Scam: How A 400% TV Price Increase Becomes A 7% Decline

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Central Banks Don't Know What They Are Doing......And Credit Markets Now Know It

What looked like a stable recovery and exit path turned very quickly into an unstable economy and nothing but problems upon even mentioning exit. In short, to use the refrain once more, they don’t really know what they are doing. So the difference between 2013 and 2014 is that credit markets, including globally, now know it.

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Canary In The Casinos: Macau Gambling Revenues Are Plunging

Revenues in the world’s largest gambling hub plunge faster than during the financial crisis. Chinese high-rollers back off! An indicator of the Chinese economy flashes red.

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