Tag «inflation»

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 process of printing fiat currency, but he cannot keep up with the ongoing economic contraction. …

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 at constrained supply while also expressing irrational exuberance about continued economic growth. As an economist, …

BushCo’s peak-oil plan

My talk to archaeologists focused on peak oil and the associated collapse of civilization. Turns out archaeologists love to study the collapse of civilization, with a minor exception: They aren’t particularly keen on hearing about the collapse of their own civilization.

The Fed slashes, the dollar bleeds

Seems Ben “Helicopter” Bernanke is living up to his nickname. But instead of kicking green leafy material out of helicopters, he’s rewarding big banks that packaged bundles of hallucinations into financial “products.” Bernanke is taking a page from Alan Greenspan’s cheap-money strategy, the one that got us into the financial debacle that turned every house into an ATM for its owner, while turning the U.S. dollar into an international joke.