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Empire of lies

Benny and the Inkjets are tossing the money around, but it didn't pump up the industrial economy the last time and QE2 will be no better, even if the next version is expectedly gihugic. He's destroying the dollar in the…

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Economic and environmental consequences of expensive oil

What are the causes and consequences of expensive oil? The first question is posed in this article, and answered surprisingly well by a neoclassical economist. He understands the relationship between the price of oil and economic growth, and he hints…

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Strike one … you’re out?

Bad Company's Shooting Star blares over the PA system. Don't you know, yeah, yeah The hour is late as the game enters the top of the ninth inning. The home team has held the Industrialists scoreless, and leads by a…

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Teetering

The industrial economy, that is. On the brink, yet again. The real economy -- not the born-again exuberance in the world's stock markets -- is stalling as the effects of easy money wear off. Indeed, investor fund flows haven't been…

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Time to bury the dead

The final nail in the global financial coffin was hammered into place this morning by the masters of the Eurozone. The trillion-dollar bailout Ponzi scheme to save Greece is yet another example of kicking the proverbial can down the road,…

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Economic dominoes continue to fall

Passing the world oil peak has had, and doubtless will continue to have, relatively little impact on the long-term price of gasoline. The economic implications of getting through the first half of the Oil Age have been much more significant, a trend that seems likely to continue until the collapse is complete.
We’ve seen 106 banks fail, so far, including some of the monsters. Others were perceived by the Obama adminstration as too big to fail, so we tacked on a series of taxes to future generations of Americans. A majority of those taxes will never be paid because the whole country is bankrupt (and not merely financially). Regional banks are suffering, too. We’ve seen house prices plummet under the weight of massive foreclosures and a bubble pumped up by the likes of Greenspan and Bernanke. We’ve seen entire airlines disappear, along with a plethora of other companies. The nation’s largest car company was socialized when we the people took ownership. (Against our wishes, of course. Isn’t faux democracy great?) Unemployment has risen, and continues to rise even as the Obummer administration throws massive fiat currency at every enterprise they deem worthy (expectedly excluding you and me). Suddenly, shopping at Wal-Mart is all the rage because, despite lies from the federal government, prices continue to rise for the average consumer.

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