Original Artwork by Joe Deagnon / ChickenOutfit.com
John Maynard Keynes is the grandfather of all modern mainstream economic thought. Richard Nixon was famously attributed as saying, “We are all Keynesians now” whilst slamming shut the gold window and launching the era of global fiat money. (Nixon didn’t really say this, it was actually Milton Friedman)
The phrase came back in vogue in the aftermath of the Global Financial Crisis when neo-Keynesians like Paul Krugman called for, and got, massive government and Central Bank intervention into the global economy in order to “save it”.
Back in 1930, Keynes looked out into the future and saw that with the proper management of the economy, monetary policy and the like, the world could attain a type of utopian stasis: Read more…
This article originally appeared in The Dollar Vigilante and was soon after run on ZeroHedge.
Gandhi was once asked, “What do you think about Western Civilization?” to which he famously replied “I think it’s a good idea.” He may as well have been talking about free market capitalism.
Capital in the 21st Century has hit the world like a new teen idol sensation. Everybody is drinking the Kool-Aid and it’s being held up as the most important book ever written on the subject of how runaway capitalism leads to wealth inequality. Paul Krugman of course, loves it. As does every head of state and political hack in the (formerly) free world. A text-book sized brick that can be condensed down to a couple bullet points: Read more…
Tags: Dollar Vigilante, Paul Krugman, Stephen Zarlenga, Thomas Piketty, Vincent Locascio, ZeroHedge
My band, The Parkdale Hookers, just released this video off our new record Echo Bubble Overdrive.
BoingBoing called it “A great punk anthem”. If I get hit by a bus tomorrow I won’t have to worry about “dying with my music inside me”, as this song and the video pretty much says all I have to say. On everything.
I must confess that I am getting a little worried about you
and everyone else that is reading this email. I believe the
stock market is going to continue to rally a bit more here.
It may go up another month or two or three in fact.
The S&P 500 closed at a new all-time high the other
day. Many of the fad momentum stocks that got hit hard in April
look like they want to bounce so that can help the market too.
Yes there is money to be made by making a trade here, but I
am very worried that very few people will take their profits and
will just end up getting smashed when the rally comes to an end. Read more…
Yes, you read that correctly.
How could the destruction of the single, largest chunk of the bitcoin economy be good for bitcoin, and good for free markets?
How can a market value of anywhere between 20% and 30% of the dollar value of entire bitcoin economy going up in smoke prove, finally, beyond a shadow of a doubt that purely free markets, unregulated from government intervention are superior in all ways to government regulated, centrally planned economies?
Our starting point, because people will go here almost immediately, is the utterly baseless assertion that had bitcoin only been regulated, this sort of thing would have never been happened. Read more…
It sends a chill down your spine when you hear the news that somebody you had just met at a conference a few months ago, a like minded individual representing a global movement you are in complete alignment with, was just arrested on federal money laundering charges,
The crime? Charlie Shrem, CEO of Bitinstant and Vice Chairman of the Bitcoin Foundation allegedly sold bitcoins to Silk Road users and then they used them to buy illicit drugs.
Follow that? The implication here is that you are now responsible for the second order actions of your own customers. Read more…
Tags: bitcoin, BitInstant, Charlie Shrem, Jeff Berwick
