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Posts Tagged ‘Keynesian Claptrap’

Pick the difference…

August 30, 2010 Leave a comment

What’s the difference between this picture

this picture

and this picture (taken in Germany during the Weimar hyperinflation of the 1920s)?

Answer: Time. And the logarithmic scale.

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The Marginal Productivity of Debt

August 14, 2010 Leave a comment

Antal E. Fekete’s paper on the collapse of irredeemable debt was a revelation when it first came out, but few people noticed.  He was one of the first to popularize the concept of the marginal productivity of debt.  When more than a dollar of debt is required to product a dollar of GDP growth, the cancer inherent in our present monetary system becomes malignant, and shoots through the bloodstream of the capital markets to cruelly target the most vulnerable parts of pax economicus, creating incurable cancer in the liver (1997 Asian Financial Crisis), the kidneys (Greece) and soon the brain (the US and UK).

Now Austrian Gary North chimes in with an analysis of the marginal productivity of debt and what it is doing to Keynesian economics.  It is slowly killing it, making a mockery of Keynesian Claptrap.  The laughable sight of witnessing ‘in the end we’re all dead’ Keynesians begging for ‘patience’ in order to make their debt-fuelled recommendations work ‘in the long run’ is exposing the six-decade Ponzi scheme of US finance for what it is: an embezzling sham, living off the toil, savings and hard work of others.

It should collapse.

It will collapse.

Cassandra was right

August 11, 2010 Leave a comment

And so are the hard-money Austrians.

But no one is listening. 

Sad. Tragic, even.

Gutless QE (or standing on the ledge above the Ninth Circle of Hell)

August 11, 2010 Leave a comment

One interpretation of the Fed’s action.

And another.

Glass half “corruption” or half “stabilization“?  Your call.

Mine is that the glass is overflowing with criminal corruption.